ENT 526 Lecture Notes - Lecture 5: Compound Annual Growth Rate

19 views1 pages

amethysthound861

2 Dec 2015

School

Ryerson University

Department

Entrepreneurship and Strategy

Course

ENT 526

Professor

Sean Wise

For unlimited access to Class Notes, a Class+ subscription is required.

Document Summary

Is a small investment in time and cost compared to the time and cost it takes to start a. Forces the entrepreneur to think critically about all aspects of the business venture. Can later be used to monitor the progress of the business. Pain the bigger the pain the company is solving, the better. Placement (industry) is the cumulative annual growth rate (cagr) of the industry > 25% The executive plan (in the business plan) should cover the 8 main areas: Irrefutable the pain statement should not be subjective. Green inducing should illustrate how an investor can make money. Succinct short enough to be said in 3 or 4 sentences or 1-2 minutes.

Related Questions

Business management

QUESTION 1

Which of the following outlines the organization's purpose, assumptions, values, and direction?

Mission

Purpose

Strategic plan

Strategic goal

Tactical goal

2 points

QUESTION 2

Scientific management focuses on

		improving the efficiency of the individual worker.
		managing the overall organization.
		using capital more efficiently.
		enhancing the social aspects of the workplace.
		creating mathematical models of organization processes.

2 points

QUESTION 3

The idea that manufacturing costs per unit decrease as the number of units produced increases is known as

economies of scale.

venture capitalism.

a franchising agreement.

first-mover advantage.

None of these.

2 points

QUESTION 4

The component of strategy that indicates how the organization intends to allocate resources is

resource deployment.

scope.

competitive advantage.

synergy.

None of these.

2 points

QUESTION 5

The process of choosing one alternative from among many alternatives is called

satisficing.

problem solving.

bounded rationality.

decision making.

None of these.

2 points

QUESTION 6

Mercedes-Benz sells high quality automobiles at high prices. It uses a(n)

differentiation strategy.

low-cost strategy.

diversification strategy.

related diversification strategy.

BCG strategy.

2 points

QUESTION 7

Which of the following is NOT generally considered to be a role performed by small businesses?

		Creation of new jobs
		Development of new products
		Manufacture of materials for large businesses
		Distribution of products made by large businesses
		Provision of capital for expansion of large businesses

2 points

QUESTION 8

Which of the following is a disadvantage of group decision making?

		More alternatives are likely to be generated.
		More information will be brought to bear on the problem.
		More time will be needed to make the decision.
		More communication about the decision will result.
		All of these.

2 points

QUESTION 9

Which of the following is an example of an owner of a business?

		Individual investors who buy stock in that business
		Partners
		People who have legal property rights to that business
		Individuals who finance and start up a new business
		All of these.

2 points

QUESTION 10

The best alternative is the most ____ alternative.

efficient

controllable

profitable

effective

valid

2 points

QUESTION 11

Which of the following decision-making models is based on the belief that human behavior is often imperfect?

Rational

Emotional

Classical

Behavioral

Sequential

2 points

QUESTION 12

A disadvantage of using interacting groups to make decisions is

group politics.

a void of expert opinion.

an increase in programmed costs.

faster decision making.

too much brainstorming.

2 points

QUESTION 13

Nokia and Samsung make cell phones that operate on the Microsoft system. They operate in the ____ industry.

transportation

manufacturing

retailing

services

wholesaling

2 points

QUESTION 14

All of the following are advantages of group decision making EXCEPT

groupthink may occur.

better decisions generally emerge.

enhanced communication may result.

more information and knowledge are available.

None of these.

2 points

QUESTION 15

Facebook operates in which industry?

Construction

Wholesaling

Manufacturing

Services

All of these.

2 points

QUESTION 16

Four friends home from college want to start a moving business to earn money during the summer. To determine whether this is a good idea, they need to find the answer to which of the following questions?

		Who are my customers, and where are they?
		Who are my competitors, and where are they?
		How can I differentiate my product from that of my competitors?
		In what quantities and at what price will my customers buy my service?
		All of these.

2 points

QUESTION 17

The classical management perspective consists of

		scientific management and administrative management.
		management science and scientific management.
		behavioral management and the operations management.
		contemporary management and behavioral management.
		contingency management and universal management.

2 points

QUESTION 18

Which of the following persons is a manager?

		Cardinal Timothy Dolan, Archbishop of New York
		Nick Saban, football coach at the University of Alabama
		Linda Kaplan Thaler, chief creative officer of Kaplan Thaler Group
		Marissa Mayer, CEO of Yahoo
		All of these.

2 points

QUESTION 19

Organizations that provide resources to other organizations are known as

suppliers.

competitors.

regulators.

interest groups.

importers.

2 points

QUESTION 20

A(n) ____ strategy requires little initial investment, is heavily regulated, and provides little opportunity to modify products for local conditions.

importing/exporting

licensing

joint venture

direct investment

global sourcing

2 points

QUESTION 21

All of the following are included in the task environment of organizations EXCEPT

competitors.

customers.

regulators.

suppliers.

the economy.

2 points

QUESTION 22

"Decision making under risk" means the decision maker

		has no data on which to base his or her decision.
		is risk-averse, avoiding risky investments.
		knows all the risks involved in the decision.
		can estimate decision data with some probability.
		is making an important decision with long- term consequences.

2 points

QUESTION 23

A standing plan that outlines the steps to be followed in a particular circumstance is called a(n)

SOP.

single-use plan.

policy.

contingency plan.

program.

2 points

QUESTION 24

Which of the following is NOT one of the reasons for new business failure described in your text?

Sufficient capital

Incompetence

Neglect

Weak control systems

Inexperience

2 points

QUESTION 25

Interpersonal skills enable managers

		to take an overall view of how the parts of the organization interrelate and to think strategically.
		to solve detailed problems for their subordinates.
		to understand and interact effectively with others in the organization.
		to diagnose organizational problems correctly.
		None of these.

2 points

QUESTION 26

Herbert Simon noted that managers generally fail to make rational decisions because they are limited by their own values, skills, habits, and unconscious reflexes as well as by incomplete information. What name did Simon give this phenomenon?

Satisficing

Bounded rationality

Brainstorming

Rational decision making

Decision framing

2 points

QUESTION 27

Nike and Reebok are best described as

strategic allies.

competitors.

customers.

regulators.

suppliers.

2 points

QUESTION 28

The first person to identify the managerial functions of planning, organizing, leading, and controlling was

Elton Mayo.

Lillian Gilbreth.

Henri Fayol.

Hugo Munsterberg.

Mary Parker Follett.

2 points

QUESTION 29

Strategic goals are set by

first-line managers.

middle managers.

top managers.

stockholders.

All of these.

2 points

QUESTION 30

Using the BCG matrix, SBUs are classified on the basis of

		market growth rate and cash generation potential.
		market share and market growth rate.
		competitive advantage and financial strength.
		a strategic business unit and product life cycle.
		None of these.

2 points

QUESTION 31

____ skills are needed for specialized tasks within the organization.

Human

Organizational

Conceptual

Technical

None of these.

2 points

QUESTION 32

McGraw Hill operates in publishing and construction. This is an example of ____ diversification.

differentiation

unrelated

single-product

BCG

related

2 points

QUESTION 33

The management pioneer who performed the Hawthorne studies at Western Electric was

Lillian Gilbreth.

Elton Mayo.

Henry Gantt.

Frank Gilbreth.

Frederick Taylor.

2 points

QUESTION 34

An organization's obligation to protect and enhance the society in which it operates is called

legal responsibility.

ethical responsibility.

social responsibility.

cultural responsibility.

societal responsibility.

2 points

QUESTION 35

An entrepreneur does all of the following EXCEPT

operate.

organize.

plan.

assume risk.

hire a professional manager.

2 points

QUESTION 36

The primary purpose of the management process is to

		develop organizational goals and make logical decisions.
		organize the various functions in a logical manner.
		ensure that all employees are working together effectively.
		achieve organizational goals efficiently and effectively.
		make sure things go as planned.

2 points

QUESTION 37

How do top managers spend most of their time?

		Overseeing day-to-day operations
		Routine administrative tasks
		Implementing plans of first-line managers
		Making decisions and creating goals
		Coordinating the work of first-line managers

2 points

QUESTION 38

In the classical decision making model, "optimization" means

		implementing two or more alternatives simultaneously.
		choosing the alternative with the best overall expected outcomes.
		gathering the most complete information before making the decision.
		reaching a satisfactory level of performance.
		None of these.

2 points

QUESTION 39

A written summary of the business strategy and its implementation plan is known as

a niche summary.

a first-mover advantage.

a business plan.

economies of scale.

a franchise agreement.

2 points

QUESTION 40

The aspects of a business that the firm performs at a higher level than its competitors are known as the firm's

niches.

capital-intensiveness.

distinctive competencies.

strategic weakness.

first-mover advantage.

2 points

QUESTION 41

For a Perkins restaurant, which of the following would be considered to be a supplier?

A family of 5

Wendy

browntermite908

ENT 526 Lecture Notes - Lecture 5: Compound Annual Growth Rate

Document Summary

Get access

Related Documents

ENT 526 Lecture Notes - Lecture 5: Elevator Pitch, Compound Annual Growth Rate, Competitive Advantage

ENT 526 Lecture Notes - Lecture 8: Venture Capital, Grinch, Average Revenue Per User

ENT 526 Study Guide - Final Guide: Corporate Social Responsibility, Systems Theory, Sleeping Bag

Related Questions

		economies of scale.
		venture capitalism.
		a franchising agreement.
		first-mover advantage.
		None of these.

		resource deployment.
		scope.
		competitive advantage.
		synergy.
		None of these.

		satisficing.
		problem solving.
		bounded rationality.
		decision making.
		None of these.

		differentiation strategy.
		low-cost strategy.
		diversification strategy.
		related diversification strategy.
		BCG strategy.

		group politics.
		a void of expert opinion.
		an increase in programmed costs.
		faster decision making.
		too much brainstorming.

		groupthink may occur.
		better decisions generally emerge.
		enhanced communication may result.
		more information and knowledge are available.
		None of these.

		importing/exporting
		licensing
		joint venture
		direct investment
		global sourcing

		Sufficient capital
		Incompetence
		Neglect
		Weak control systems
		Inexperience

		Satisficing
		Bounded rationality
		Brainstorming
		Rational decision making
		Decision framing

		strategic allies.
		competitors.
		customers.
		regulators.
		suppliers.

		Mission
		Purpose
		Strategic plan
		Strategic goal
		Tactical goal

		efficient
		controllable
		profitable
		effective
		valid

		Rational
		Emotional
		Classical
		Behavioral
		Sequential

		transportation
		manufacturing
		retailing
		services
		wholesaling

		Elton Mayo.
		Lillian Gilbreth.
		Henri Fayol.
		Hugo Munsterberg.
		Mary Parker Follett.

		first-line managers.
		middle managers.
		top managers.
		stockholders.
		All of these.

		Lillian Gilbreth.
		Elton Mayo.
		Henry Gantt.
		Frank Gilbreth.
		Frederick Taylor.

		legal responsibility.
		ethical responsibility.
		social responsibility.
		cultural responsibility.
		societal responsibility.

		operate.
		organize.
		plan.
		assume risk.
		hire a professional manager.

		a niche summary.
		a first-mover advantage.
		a business plan.
		economies of scale.
		a franchise agreement.

		niches.
		capital-intensiveness.
		distinctive competencies.
		strategic weakness.
		first-mover advantage.