Chapters 3 & 4Entrepreneurship

  1. Hiring a firm to design and produce packaging for your product is an example of ______
  2. What are some of the major trends for the creation of new businesses?
  1. To find a new business, you may need to hire a ______.
  2. What are some ways to prevent some of the problems that family businesses face?
  1. An asset of acquiring an existing business is customer loyalty, or
  2. To identify consumer markets, you should be aware of
  3. Before you can determine if a new venture is feasible, you must prepare a ______.
  4. McDonald’s is an example of a ______
  5. Reasons that the United States imports a vast number of goods from other countries
  1. Where do entrepreneurs find export opportunities?
  1. Two of the main reasons for the global economy are the changes in
  1. Small business owners have the ability to meet and talk with foreign agents, distributors, or potential business partners through ______
  1. Entrepreneurs who attempt to do business internationally need to understand ______
  1. It is important to study each country before attempting to do business there because of ______.
  2. Taxes imposed by a government on imported or exported goods are called ______.
  1. One secret to finding a good business opportunity is the ability to understand ______, because changes in interests create profitable niches for new businessestofill.
  1. Sources for creative ideas for new businesses can come from ______.
  1. The greatest advantage of a family business is the ______and togetherness that family members share.
  1. The entrepreneurial process involves taking the steps to recognize a(n) ______and create a business for profit.
  1. Instead of starting a new business, you could enter a(n) ______or buy an existing business.
  1. An increased reliance on ______is one of the main trends that affect business today.
  1. Developing countries provide a risky form of ______for entrepreneurs.
  1. To participate in a trade mission, you will need to have a product that is on the government's ______list.
  1. According to the U.S. Department of Commerce, the hottest products for exporting are electronic equipment, chemical products, paper products, apparel, industrial machinery, computers, and ______products.
  1. A(n) ______is a partnership created by two or more companies for a specific purpose over a set period of time.
  1. Businesses that buy goods from other countries to sell in their own country are ______.
  1. It is wise to hire a(n) ______to translate the other person's language into English when conducting business in a foreign country.
  1. The important thing for entrepreneurs to understand about Europe is that ______among some countries are huge.
  1. Please define the following:
  2. customer loyalty
  1. to contract with other companies for services
  1. forming a partnership with another company
  1. finding new ways of doing things
  1. periodicals published for specific types of businesses or industries
  1. seller of a franchise
  1. characteristics that describe a population
  1. periodicals that target people with special interests in a variety of areas
  1. classifying goods sold in the international market
  1. money to spend after necessary expenses are paid
  1. the selling and shipping of products to another country
  1. the interconnected economies of the nations of the world
  1. taxes, quotas, and other restrictions on goods entering or leaving a country
  1. the total value of all goods produced during the year
  1. the electronic commerce systems that allow you to sell products and services online anywhere in the world
  1. handles overseas shipments for a fee

Essays

  1. Compare and contrast buying a business and starting your own business.
  1. Discuss at least four ways to show respect to people of different cultures when conducting business in another country.