NBE SMB 2 Skills check (Week 9) Questions and
Answers
An organization that Business
combines inputs of raw
materials, capital, labor
and management skills to
produce useful outputs of
goods and services so as
to earn a profit
,a business which is small business
independently owned and
operated and is not
dominant in its field of
operations
one who organizes, entrepreneur
manages, and assumes the
risk of a business firm or
venture
new business ventures startups
started from the beginning
-number of employees Quantitative criterea
-dollar sales volume
-actively managed by its qualitative criteria
owners
-highly personalized
-largely local in its area of
operations
-largely dependent on
internal sources of capital
to finance its growth
-not a major impact in a
particular industry
a business that makes manufacturing
finished goods from raw
materials by hand or
machinery
a business that purchases merchandising
finished goods for resale
a business that provides a service
service as opposed to a
product
- Interdependence of a economic contributions of a small business
business
- Stimulate economic
competition
, - Innovation
-invention
the practice of trying to competition
obtain something that is
being sought by others
under similar
circumstances at the same
time
the introduction of innovation
something new; a new idea
method or device
the process of setting Planning
performance objectives
and determining what
actions should be taken to
accopmplish them
the art and science of management
motivating people toward
the achievement of a goal
the process of assigning organizing
tasks, allocating resources,
and coordinating the
activities of individuals and
groups to implement plans
the process of guiding Leading/Directing/Actuating
and/or supervising the
activities of an
organization to achieve
plans and objectives.
the process of measuring controlling/ evaluating
organizational and
individual performance
with predetermined
standards or expected
results.
the process of energizing, motivating
channeling, and
Answers
An organization that Business
combines inputs of raw
materials, capital, labor
and management skills to
produce useful outputs of
goods and services so as
to earn a profit
,a business which is small business
independently owned and
operated and is not
dominant in its field of
operations
one who organizes, entrepreneur
manages, and assumes the
risk of a business firm or
venture
new business ventures startups
started from the beginning
-number of employees Quantitative criterea
-dollar sales volume
-actively managed by its qualitative criteria
owners
-highly personalized
-largely local in its area of
operations
-largely dependent on
internal sources of capital
to finance its growth
-not a major impact in a
particular industry
a business that makes manufacturing
finished goods from raw
materials by hand or
machinery
a business that purchases merchandising
finished goods for resale
a business that provides a service
service as opposed to a
product
- Interdependence of a economic contributions of a small business
business
- Stimulate economic
competition
, - Innovation
-invention
the practice of trying to competition
obtain something that is
being sought by others
under similar
circumstances at the same
time
the introduction of innovation
something new; a new idea
method or device
the process of setting Planning
performance objectives
and determining what
actions should be taken to
accopmplish them
the art and science of management
motivating people toward
the achievement of a goal
the process of assigning organizing
tasks, allocating resources,
and coordinating the
activities of individuals and
groups to implement plans
the process of guiding Leading/Directing/Actuating
and/or supervising the
activities of an
organization to achieve
plans and objectives.
the process of measuring controlling/ evaluating
organizational and
individual performance
with predetermined
standards or expected
results.
the process of energizing, motivating
channeling, and
