Entrepreneurship and Business Planning Quiz

A legal entity separate from its owners, chartered by the state.

Owners are only responsible for losses up to their investment.

Individuals or entities that own shares in a corporation.

Corporations can sell stock or issue bonds to gather funds.

A corporation continues to exist despite owners leaving or dying.

Selling stock provides a simple way to transfer ownership.

Incorporating can be expensive due to legal and accounting fees.

Corporations must maintain detailed records and documentation.

An organization that manufactures and markets products globally, with foreign stock and management.

Investment funds controlled by governments, holding large stakes in foreign companies.

The ability of businesses to adjust practices according to different cultural contexts.

The belief that one's culture is superior to others.

Factors like cultural values and beliefs that affect global business operations.

Religion can significantly influence business operations and cultural understanding.

Misinterpretations arising from differences in cultural values and practices.

Cultural differences impact HR decisions like recruitment and management styles.

Core activities crucial for small business operations, including planning, financing, and marketing.

A detailed written statement outlining a business's nature, target market, competition advantages, and owner qualifications.

The key section of a business plan that captures the reader's interest and summarizes the plan's main points.

Possible origins of funding for new businesses, including family, suppliers, and investors.

Private individuals who provide capital for new businesses in exchange for equity ownership.

A method of raising funds by collecting small amounts of money from many people, often via online platforms.

Legislation allowing businesses to raise up to $1 million from private investors annually without an IPO.

Individuals or firms that invest in high-potential startups in exchange for partial ownership.

The value of one nation’s currency relative to others.

When the dollar is strong, foreign goods are cheaper and U.S. goods are more expensive.

When the dollar is weak, foreign goods become more expensive.

A system where currency values fluctuate based on market supply and demand.

Lowering the value of a nation’s currency relative to others.

Trading goods directly for other goods without using money.

A complex type of bartering involving several nations trading goods or services.

A U.S. law prohibiting dubious payments to foreign officials for business contracts.

Actions that align with moral principles, benefiting shareholders.

Actions that harm financial performance and shareholder value.

An unethical practice where insiders trade based on nonpublic information.

Rule ensuring companies disclose information to all investors simultaneously.

Businesses that treat employees well, resulting in higher growth and profitability.

The cost associated with replacing employees, often 50-200% of their salary.

Dishonest actions by employees, costing businesses around $7 billion annually.

Companies' obligation to compensate hard work and talent appropriately.

A societal effort to promote environmentally friendly practices and products.

The total amount of carbon released during a product's life cycle, including production and disposal.

The balance of positive organizational actions minus negative impacts, representing overall social responsibility.

A systematic evaluation of an organization's social responsibility practices and progress.

The role businesses play in promoting fairness and building communities.

A company known for creating a low-salt textile dye, contributing to environmental standards.

Corporations document their social contributions to showcase commitment to society.

Not all eco-friendly efforts lead to financial success, as seen with StarKist's initiatives.