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While doing a market survey for raw material availability, which of the following should be considered? Existing brand loyalties and consumption pattern b. Leading suppliers and time for order execution c. Market strategy and advertising d. Major...[DOWNLOAD] Entrepreneurship And Small Business Management Exam Answers | latest!
Also, guidelines on how you will write your GES exams and possible questions you will see are also stated. This is where students are opportune to learn about management and entrepreneurship to enable them become boss of their own or manage any...
- Describe the eight steps followed in the decision making process 8mks c. Enumerate the benefits that may accrue to an entrepreneur who is able to attract, satisfy and retain customers 6mks b. Name six sources of ideas available to an entrepreneur. Briefly explain strategies that could be adopted by entrepreneurs to attract and retain customers 8mks QUESTION FOUR Upon identification of firm's resources, an entrepreneur should apply a set of guidelines to determine which these resources generate core competencies necessary for sustained competitive advantage.
Entrepreneurship And Small Business Management Question Paper
Citing examples, define the following types of resources: i. Tangible asset 3mks ii. Intangible assets 2mks iii. Organizational capabilities 3mks b. Briefly explain four reasons why an entrepreneur may venture into the global market 8mks b. Outline four types of reports that could be prepared by an entrepreneur 8mks b. Distinguish between a memorandum and a business letter 6mks c.Chapter 2 Small Business Management Entrepreneurship And Ownership TRUEFALSE
Describe some practices adopted by entrepreneurs which are unethical and impact adversely on customers 8mks b. Briefly explain entrepreneurial behavior that may lead to business failure 12mks.Category: Entrepreneurship And Small Business Management Exam Deca
Home Archive for Entrepreneurship and small business management exam deca The array of events to compete in reflects the diversity of business applications in the workplace. From Accounting to Sports and Entertainment Marketing, students will find an area of interest to pursue. To maximize success, choose a category that best matches your knowledge, experience, and access to resources i. Availability of these events may vary depending on the level of competition i. Please see specific details about each competition under Competitive Events Listing. Students in Writtens Events that write exams in October.- Notifications are emailed at the end of each round. The topic for each career category is the development or enhancement of a customer experience management strategy. Participants will collaborate with a local business or organization to analyze current customer experience management strategies and then present a plan to improve the customer experience within the business or organization. The college graduate would like you to make recommendations that will have the most positive financial impact. The college graduate is interested in how much to save, retirement plans available and how long to save. Hospitality and Tourism Professional Selling Event For you will assume the role of a catering sales manager for a hotel. A potential client is interested in holding a three-day conference for attendees at the hotel and is meeting with you to determine unique and creative catering options. For you will assume the role of a sales representative of a virtual reality technologies firm.
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Maximum of two entries per event per Chapter; 1 — 3 participants Maximum length of 30 pages and 15 minutes to present Turnitin. Maximum of two entries per event per Chapter; 1 — 3 participants Varying lengths and 15 minutes to present Turnitin. Maximum of two entries per event per Chapter; 1 — 3 participants Maximum length of 11 pages and 15 minutes to present Turnitin. It will be read by the Judge. Maximum of two entries per event per Chapter; individual event Maximum length of 11 pages and 15 minutes to present Turnitin. NO standardized guidelines are required so the student can include whatever they feel is relevant to be read by the Judge. Professional Selling Event For you will assume the role of a sales representative of a virtual reality technologies firm. Stock Market Game. Performance Indicators. PFL Exam. PFL Case.- Community Service Project. Creative Marketing Project. Entrepreneurship Promotion Project. Financial Literacy Promotion Project. Learn and Earn Project. Public Relations Project. Independent Business Plan. Innovation Plan. International Business Plan. Start-Up Business Plan. Franchise Business Plan. Comprehensive exams based on the nationally validated Business Administration standards are available in two formats. Although both versions use identical specifications blueprintsthe actual questions vary. DECA currently uses seven different exams for its competitive events. Please keep in mind that each state makes independent decisions regarding specific uses of each exam. New comprehensive, multiple-choice exams are developed each year and are based on the most recent update of the national standards. Questions regarding these aspects of the competitive events should be directed to state advisors. For online testing, contact MBA Research. For a complete listing of performance indicators competencies used by DECA for its competitive events, click here.
- Performance indicators competencies for competitive events are used to define the parameters of the written exam and other activities that are part of the overall competition. Click here to order. Most DECA competitive events utilize a variety of assessment techniques that include traditional multiple-choice exams as well as various role plays and examples of student work. Compete with whom? For what? Curriculum alignment : Yes, we all know that when you close the door, you teach what you want. Sometimes the decision is based on what we like or what we know best. Often, our students influence curriculum decisions. But, the bottom line is that the more closely our individual programs of study are aligned with the national standards, the better prepared our students will be.
- Because the standards were built through industry research. They reflect what business leaders believe is important. Bottom line: When you align your curriculum with the same learning outcomes expected by business and by DECA, your students win in both settings. Tip: The national standards are available free to all marketing and business teachers. But the trade-off is that our students leave our classes with only cursory ideas of critical learning outcomes.
- They enjoy the class, but leave without the key skills that will soon be critical to their successes. Teachers who find ways to keep students interested as they push for depth of instruction and actual student performance are almost always rewarded with more successful students. It works! Tip: We created our LAP modules specifically to help you reach a depth of instruction that will pay off for students. It clearly says to students that they will be accountable for the content. Second, testing encourages students to focus on the material that matters most. And, third, it reduces the pressure of big, infrequent exams. Again, we learned with our model programs that weekly testing—coupled with specific policies that required students to pass all tests to earn a passing grade—resulted in greatly improved performance. Serving high school and post-secondary educators and administrators.
- Webinars Workshops. Print Email. General information for All exams are item, multiple-choice. Tests are designed with test discrimination in mind. There will be little or no overlapping use of questions among exams used in competition. Item selection is based on the national Business Administration standards. The Entrepreneurship and Small Business Management exams draw from all six curriculum planning levels. Items are prorated across all eligible performance indicators so that each instructional area e. For example, if there were a total of indicators in a particular list, and 25 of them were from the promotion area, there would be approximately 12 or 13 promotion items on the exam.
- Note: Actual counts may vary slightly from those in the charts on the following pages. For some events, DECA has added performance indicators for use in the participating portion of the event role plays. These additional indicators are not used in the exams. Items for district and state-level exams include a mix of new and revised previously used items. All items are reviewed each year and updated as appropriate. Although items are pulled from a large test-item bank, some may have appeared in other products, including other exams, LAP modules, or practice activities.
MNE3701 Notes And Summary - Entrpreneurship And Small Business
However, although many items for a given performance indicator may sound similar to students, the actual reuse of items in any given year is quite small. The item bank exceeds 30,According to entrepreneur Paul Hawken, good entrepreneurs are risk avoiders, not risk takers. True b. Dv6fc engine False 2. The Bureau of Labor Statistics projects that the U. False 3. An entrepreneur is one who creates a new business in the face of risk and uncertainty, for the purpose of achieving profit and growth by identifying opportunities, and assembles the necessary resources to capitalize on those opportunities. False 4. Which of the following is not a characteristic of the typical entrepreneur? Which sector dominates the U. The primary cause of small business failures is, a. The business plan has two essential functions: it helps the entrepreneur determine if the business will succeed, and it helps recruit management talent to run the new company.- False 8. The wise entrepreneur will hire a professional to prepare his business plan for him. False 9. Bankrolling the business with plenty of startup capital b. Creating a solid business plan c.
- A a desire for responsibility and moderate risk B confidence in the ability to succeed and determination C a high level of energy, a desire for immediate feedback and a future orientation D All the above Answer: D Diff: 1 AACSB: Reflective Thinking Learning Obj: Describe the entrepreneurial profile. A is willing to attempt to implement a business concept and then give up if it does not meet immediate expectations B understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept C knows that the concept they are about to develop will result in a profitable business D creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities Answer: D Diff: 1 AACSB: Analytical Thinking Learning Obj: Describe the entrepreneurial profile.
Exam Answers Entrepreneurship Development Multiple Choice Questions And Answers Pdf
A the ability to easily access capital B a set of unique skills that is usually accompanied by advanced degrees in several areas C a high level of commitment, have a tolerance for ambiguity, are flexible and tenacious D specialized technical abilities Answer: C Diff: 2 AACSB: Reflective Thinking Learning Obj: Describe the entrepreneurial profile. Give a brief profile of a typical entrepreneur. What is the primary motivation for the typical entrepreneur? Answer: An entrepreneur is someone who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.ESB Certification :: Entrepreneurship And Small Business:: Certiport
Bill had learned almost all that he knew from Hugo Huffman, his first and only employer. Bill Hudson was married and had three young children. He was 33 years old and had worked for Hugo ever since he finished his tour in the Army. In 12 years, Bill had polished his skills under the watchful and critical eye of Hugo Huffman. Hugo was quick to recognize Bill's talent for the trade. Bill had a positive attitude about learning and displayed a drive for perfection that Hugo admired. Hugo's Machine Shop was a successful small business. Its success was based mostly on the reputation for quality that had been established over its 42 years in operation. Hugo had come to this country with his new wife, Hilda, when he was in his late twenties. Now the business was a success, but Hugo remembered the early years when he and Hilda had to struggle. Hugo wanted the business to continue to produce the highest quality craftsman products possible.Ch 6 Entrepreneurship And Small Business Management Quiz - Quizizz
On a Friday evening, he called Bill into his office at closing time, poured him a cup of half-day-old coffee, and began to talk with him about the future. It has been 42 years of fun but these old hands need a rest. In short, Hilda and I would like you to buy the business. We both feel that your heart is in this craft and that you would always retain the quality that we have stood for.- He, of course, knew Hugo was getting older, but had no idea Hugo would retire. Most of Bill's salary went for the normal costs of rearing three children. Hugo knew Bill did not have the money to buy the business in cash, but he was willing to take a portion of the profits for the next 15 years and a modest initial investment from Bill. Bill had, for the past four years, made most of the technical decisions in the shop. Bill knew the customers and was well respected by the employees. He had never been involved in the business side of the operation. He was a high school graduate but had never taken business courses. Bill was told by Hugo that even after deducting the percentage of the profits he would owe under the sales agreement, he would be able to almost double his annual earnings.
Burns Entrepreneurship And Small Business 4e Learning Resources/Self Test MCQs
Bill would have to take on all the business functions himself because Anna had no business training either. Which characteristic could lead to his failure? Answer: This case requires the student to compare Bill's personality characteristics with those of the typical entrepreneur. Factors in Bill's favor include knowledge of the technical aspects of the business, a willingness to learn, a devotion to the business and its customers, and a favorable sales arrangement. Factors working against Bill include his lack of business training and experience, a lack of personal assets, and possibly, insufficient management skills. A earn tremendous wealth without risk and uncertainty B make a difference in an area important to them and be recognized for those efforts C create wealth without providing true value D exploit the opportunities that the free enterprise system offers Answer: B Diff: 2 AACSB: Reflective Thinking Learning Obj: A Describe the benefits of entrepreneurship.- A The opportunity to gain control over your own destiny. B The opportunity to reach your full potential. C The opportunity to do what you enjoy. They have often made their hobbies their business. A uncertainty of income, risk, long hours, and high stress B uncertainty of income, risk, easy hours, and frequent vacations C uncertainty of income, risk, long hours, and the immediate accumulation of wealth D certainty of income, risk, long hours, and high stress Answer: A Diff: 2 AACSB: Reflective Thinking Learning Obj: B Describe the drawbacks of entrepreneurship.
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