Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Retail Operations College test > Test > Flashcards

Test Flashcards

1
Q

Melinda and John Perez, both corporate attorneys in NYC, have grown tired of their lengthy commute, the stress of their jobs, and the overbearing policies of their employers. They have decided to leave their six-figure jobs and together make a guide service in Wyoming. Melinda and John are an example of what

A

Corporate dropouts and Copreneurs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Small companies

A

are the lenders in offering training and advancement opportunities to workers.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Which of the following was not identified as one of the suggestions for small business success?

A

Develop a business plan as you grow your business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Of the 28.8 million businesses in the united states, more than ____ percent are considered small.

A

99%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Factors that feed the economic boom behind entrepreneurship include ….

A

All of the above
(Technology and cloud computing, demographic and economic factors, the shift to a service based economy, and international opportunities.)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Small companies that have expanded successfully into foreign markets tend to rely on all but which of the following strategies.

A

Focus on many countries initially.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Entrepreneurial couples who work together as co-owners of their business are referred to as…

A

Copreneurs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The Kauffman Foundation reports that nearly one of of ____ entrepreneurs in the united states start businesses of their own because they cannot find jobs elsewhere

A

5

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

The only people who ___ are those who never do anything of never attempt anything new.

A

Fail

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Small companies are the incubators of new sale ideas, products and services and create ___ times more patents per employees than large companies.

A

16

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Which of the following in NOT true regarding the diversity of entrepreneurs.

A

Minority- owned business now account for approximately 22 % of all business in the U.S

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Approximately ____ percent of corporate managers who are cast off΅as companies downsize become entrepreneurs.

A

20%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Entrepreneurs may find benefit from the internet due to its potential ….

A

As a relatively low-cost solution to expand its revenue- generating abilities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Research shows that the top-performing __ percent of small companies create 67 percent of the net new jobs in the economy.

A

5

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

All of the following are characteristics of the typical entrepreneur except

A

Value of money over achievement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

The Primary cause of small business failures is…

A

Management Mistakes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Globally the rate of entrepreneurial activity is highest amount between people between the ages of 20 and 44 and the number of Americans in that age range currently is more than ____ million.

A

84

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

According to the U.S small business Administration, a common delineation of a small business is one that employs fewer than ____ people

A

100

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

______ entrepreneurs are business builders who seek innovative solutions to some of society’s most vexing problems.

A

Social

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Women in the business still experience _____ as they attempt to break the glass ceiling.

A

Discrimination

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Which of the following is NOT a characteristic of a successful working relationship between copreneurs

A

A clear definition of one partner as a boss and the other as subordinate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Small companies that operate globally from their inception are referred to as

A

micromultinationals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Earning a profit may not be a companies ____ responsibility

A

only

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

_____ is/are the narrowest level of ethical standards

A

The law

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

in 2020, members of ____ different generations will be working side-by-side in the united states.

A

5

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

The driving force behind immoral management is…

A

greed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

A recent survey found that ____ percent of consumers expect companies to operate responsibility regarding social and environmental issues

A

91

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

Which of the following is NOT an example of what creates a hostile work environment

A

Dispensing assignments base on merit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

According to the _____, one should treat other people the way you would like them to treat you.

A

Golden rule

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

According to the ______, one should choose the option that offers the greatest good for the greatest number of people.

A

Utilitarian Principle

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

The most blatant and most potentially damaging form of ____ harassment is quid pro quo.

A

Sexual

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

A _____ environment usually requires a pattern of offensive sexual behavior rather than a single.

A

Hostile

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Consumer rights are governed by the…

A

Consumer Bill of Rights

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

_____ may be the result of failing to realize that an ethical dilemma exists, or it may arise from a variety of mental defense mechanisms.

A

Moral Blindness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

Which of the following is NOT a simple way by which small businesses can be socially responsible?

A

Encourage reinventing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

_____ sets behavioral boundaries for decision-makers.

A

Ethics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

The ___ merely establishes the minimum standard of behavior.

A

Law

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

Earning a profit may be a companyś _____ responsibility.

A

First

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

_____ sets behavioral boundaries for decision-makers

A

Social responsibility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

Companies really are not ethical or unethical; ____ are

A

Individuals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

____ cannot monitor personal email accounts

A

Employers

42
Q

One of the most important group of stakeholders that a business must satisfy is its

A

Customers

43
Q

In ____, a superior conditions the granting of a benefit such as a promotion or raise on the receipt of sexual favors from a subordinate.

A

Quid Pro Quo

44
Q

Actions that are legal, however, may not be ____.

A

Ethical

45
Q

Harvards Ted Levitt says that creativity is _____ new things, and innovation is ___ things.

A

Thinking; doing

46
Q

____ is a process in which a small group of people interacts to produce a large quantity of imaginative ideas.

A

Brainstorming

47
Q

Which stage of the creative process requires one to develop a solid understanding of the problem or decision?

A

Investigation

48
Q

The technique of ____ uses three columns that allow the entrepreneur to weigh both the advantages and the disadvantages of a particular decision and work to maximize the variables that support it while minimizing those that work against it.

A

force-feild analysis

49
Q

When developing creative solutions to modern problems, entrepreneurs must _____

A

go beyond merely using whatever has worked in the past

50
Q

The ability to see the connections among various data and events is called ____.

A

Convergent thinking

51
Q

The need to enhance creative thinking means that exploring ____ space, not _____ space becomes the challenge of the century/

A

Inner; outer

52
Q

About ____ % of patent infringement lawsuits are settled out of court.

A

95

53
Q

The premise behind _____ is that transforming an idea into an actual model will lead to improvements.

A

Rapid prototyping

54
Q

Research shows that anyone can learn to be creative. The problem is______

A

All of the above.

55
Q

Hiring a diverse workforce ____

A

All of the above.

56
Q

Entrepreneurship is a constant process that relies on

A

Creativity, innovation, and application in the marketplace.

57
Q

Effective brainstorming involves all the following EXCEPT

A

An effective method to evaluate ideas

58
Q

An entrepreneurial ¨secret¨ for creating value in the marketplace is ____

A

Applying creativity and innovation to solve problems

59
Q

All of the following are enhancements to individual creativity EXCEPT

A

Limiting your reading sources

60
Q

Which of the following is NOT one of the ways entrepreneurs can stimulate their own creativity and encourage it among their workers

A

View challenges as problems

61
Q

The ¨theory of intentive problem¨ is a left brained, scientific, systematic process based on innovative patents and is referred to as ____

A

TRIZ

62
Q

Steps in the patent process include

A

All of the Above

63
Q

Copyrights protect the creator of original works such as

A

Software, choreography, and motion pictures.

64
Q

Sucessful entrepuerneuship requires both _____ & ______ reasoning.

A

Divergent; Convergent

65
Q

Employees must be given the tools and resources they need to be creative. One of the most valuable set of resources is ____

A

Time, support and encouragement

66
Q

¨Verification¨ refers to

A

All of the above

67
Q

A(n) group involves enlisting a small number of potential customers to get feedback on specific issues about the companies product or service

A

Focus

68
Q

A good advice to follow in customer surveys is _____

A

¨Keep the Short¨

69
Q

The strongest of the five forces in mos industries is

A

Rivalry among companies competing in the industry

70
Q

The process of determining whether an entrepreneur´s idea is a viable foundation for creating a successful business is known as a (n)

A

Feasibility analysis

71
Q

Asking the question ¨Is this the idea right for me¨ is part of the process of accessing ____ feasibility.

A

Entrepreneur

72
Q

_____ is the number of months the business can survive at its current rate of negative cash flow.

A

Time out of Cash

73
Q

The internet is an example of a(n) ____ force.

A

Technological

74
Q

For Under Armour, its top 10 suppliers manufacture less that half of its products. To Under Armour power is likely to be

A

Low

75
Q

Porters 5 forces model assesses industry attractiveness by surveying these five factors

A

Potential entrants, suppliers, buyers, substitutes, and rivalry existing firms.

76
Q

Which of the following is NOT a barrier to entry?

A

Large number of buyers

77
Q

The typical start up in the United States needs a launch Capital of

A

$30,000

78
Q

One form of Primary research is

A

A focus group

79
Q

_______ is the process of finding creative ways to exploit opportunities to launch and grow businesses with limited resources

A

Bootstrapping

80
Q

Ideally, a focus group should have ____ members

A

8-12

81
Q

Prototypes usually point out potential problems in a products ______

A

design

82
Q

Generation Y and Generation Z are examples of ____ changes

A

demographic

83
Q

Which of the following is a danger of using a niche system

A

All of the Above

84
Q

Many new businesses require that an entrepreneur have a certain set of knowledge, experiences, and skills to have any chance of success, This is call entrepeurnurial ______

A

readiness

85
Q

The ___ the leverage suppliers of key raw materials or components have, the ___ attractive is the industry

A

greater : less

86
Q

Which of the following is NOT a question to ask to an evaluate industry?

A

How spare is the industry?

87
Q

A(n) is the process of examining a need in the market, developing a solution for that need, and determining the entrepreneurś ability to successfully turn the idea into a business.

A

Idea Assessment

88
Q

Low capital requirements, cost advantages that are not related to a company size and the lack of brand loyalty are considerations regarding the

A

threat of new entrants to the industry

89
Q

Which of the following is NOT a recommendation method of collecting compertive intelligence?

A

Pay competitors employees to become informants about their companies strategies, markets, and trade secrets.

90
Q

The purpose of covering the ____ in the business plan presentation is to show lenders and investors how the company will produce an attractive payback or payoff

A

Business Model

91
Q

To convince lenders and investors to put their money into the venture, a business plan must prove to them that it offers a high probability of repayment or an attractive rate of return, That is the ____ test.

A

Value

92
Q

Every business is characterized by a set of controllable variables that determines the relative success (or lack of it) of market participants called

A

Key success factors

93
Q

Which of the following was NOT identified as a way for the typical small business to establish a comparative advantage.

A

Lowering prices

94
Q

Your ___ competitors offer the same products and services, and customers often compare prices, features, and deals from these competitors as they shop

A

Direct

95
Q

The executive summary section of the business plan ____

A

All of the above

96
Q

Which company has the strongest competitive power

A

You company

97
Q

Potential investors tend to believe that if an entrepreneur cannot develop a good plan, the entrepreneur _____

A

probably lacks the discipline to run a business

98
Q

____ includes any assets an entrepreneur pledges to a lender as security for repayment of the loan

A

Collateral

99
Q

The company history section of the business plan typically includes

A

All of the above

100
Q

Which key success factor does the entrepreneur who built this table believe is the most important

A

Quality

Retail Operations College test (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions