Jeopardy Q $100 Q $100 Q $100 Q $100 Q $100 Q $200 Q $200 Q $200 Q $200 Q $200 Q $300 Q $300 Q $300 Q $300 Q $300 Q $400 Q $400 Q $400 Q $400 Q $400

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1 Jeopardy Entrepreneurship Types of Ownership Leadership Styles Franchise Motivational Theories Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $100 Q $100 Q $100 Q $200 Q $200 Q $200 Q $200 Q $300 Q $300 Q $300 Q $300 Q $400 Q $400 Q $400 Q $400 Q $500 Q $500 Q $500 Q $500 Final Jeopardy

2 $100 Question from Entrepreneurship Define What an Entrepreneur is.

3 $100 Answer from Entrepreneurship A entrepreneur is someone who organizes, manages, and assumes The risk of a business.

4 $200 Question from Entrepreneurship Define Entrepreneurship

5 $200 Answer from Entrepreneurship The process of discovering new ways of combining resources

6 $300 Question from Entrepreneurship Define Creative Destruction and provide an Example of a business or product that embodies This concept

7 $300 Answer from Entrepreneurship The introduction of new Products that result in The obsolesce or failure of Others. Examples?

8 $400 Question from Entrepreneurship Define Kirzner s theory on what an Entrepreneur is.

9 $400 Answer from Entrepreneurship Kirzner Stressed: Entrepreneurs are people who discover previously unnoticed profit opportunities and act until market competition eliminates the profit opportunity. (Equilibrating Force)

10 $500 Question from Entrepreneurship Explain the difference between a Lifestyle and A Gazelle Entrepreneur.

11 $500 Answer from Entrepreneurship Lifestyle Entrepreneurs- In it more for the non- monetary benefits such as setting their own schedules and being their own boss. Gazelle or High Growth - These entrepreneurs often move from one start up to the next. They have a well defined growth strategy and exit plan.

12 $100 Question from Types of Ownership Provide one Pro and one Con of a Sole Proprietorship

13 $100 Answer from Types of Ownership Advantages Be your own boss Low taxes because you only pay on profit You get to keep all of the profits Easy to Start Disadvantages Unlimited Liability- you have full responsibility for your company s debts.

14 $200 Question from Types of Ownership Provide one advantage and one disadvantage of a Partnership

15 $200 Answer from Types of Ownership Advantages Easier to obtain capital Partners bring different skills to the business. Business can run more efficiently then a proprietorship. Disadvantages Share the profits You may not get along with your partner You still have unlimited liability You could loose personal possessions and even end up in jail because of a decision your partner made.

16 $300 Question from Types of Ownership How can a corporation raise money to expand their business

17 $300 Answer from Types of Ownership Sell Stock

18 $400 Question from Types of Ownership Provide one Disadvantage of a Corporation

19 $400 Answer from Types of Ownership Disadvantages You often have to pay higher taxes. The federal government and some states tax corporations. Double taxation- The corporation it s self is taxed as well as the owners profits. High Government Regulation Difficult to start a corporation

20 $500 Question from Types of Ownership What does Limited Liability Mean?

21 $500 Answer from Types of Ownership That you can only loose What you have invested In the business.

22 $100 Question from leadership styles As part of this leadership style managers and employees work together to make decisions.

23 $100 Answer from leadership styles Democratic Leadership

24 $200 Question from leadership styles This leadership style aligns with Taylor s theory of motivation

25 $200 Answer from leadership styles Autocratic Leadership

26 $300 Question from Leadership Styles This type of leadership style requires the leader to set goals and then leave your employees alone to complete the job. Google and many other tech companies use this form of leadership

27 $300 Answer from Leadership Styles Free-Rein Leadership

28 $400 Question from Leadership Styles What is one problem with Autocratic leadership

29 $400 Answer from Leadership Styles No one likes to work for them Workers tend to be less productive

30 $500 Question from Leadership Styles What leadership styles best match with Maslow s Hierarchy of needs?

31 $500 Answer from Leadership Styles Democratic and/or Free Reign

32 $100 Franchise Project Questions This is what we call the percentage Of sales that the franchisee pays to the Franchisor

33 $100 Answer from Franchise Project Questions Royalty Fee

34 $200 Question from Franchise Project Questions What do you receive for paying your Royalty Fee?

35 $200 Answer from Franchise Project Questions Marketing, Product Development Display items for store, support from Franchisor

36 $300 Question from Franchise Project Questions What is the larger number Goss or Net Profit?

37 $300 Answer from Franchise Project Questions Gross Profit = Sales - COGS

38 $400 Question from Franchise Project Questions What is the difference between Gross and Net Profit

39 $400 Answer from Franchise Project Questions Gross Profit does not Include deductions for Taxes, payroll, utilities

40 $500 Question from Franchise Project Questions Provide one example of a liquid asset And one example of a non liquid asset

41 $500 Answer from Franchise Project Questions Liquid- Cash, Stocks, Gold, Non-Liquid- Building, Machinery

42 $100 Question from Chapter 11 According to this theory all workers are Lazy and are only motivated by money

43 $100 Answer from Motivational Theories Taylor

44 $200 Question from Motivational Theories Provide one example of each form Of motivation in the work place Stick Carrot

45 $200 Answer from Motivational Theories Stick = Punishment Carrot = Reward

46 $300 Question Motivational Theories What is one problem with Maslow s Theory

47 $300 Answer from Motivational Theories Hard to tell where workers are on the Pyramid some levels don t seem to exist for Certain individuals

48 $400 Question Motivational Theories Explain the Hawthorne Effect

49 $400 Answer from Motivational Theories The Hawthorne Effect The idea that workers are motivated by recognition given to them as a group

50 $500 Question Motivational Theories What leadership style uses Taylors ideas?

51 $500 Answer from Motivational Theories Autocratic

52 Final Jeopardy What leadership style would you say Works better with blue collar vs white Collar workers

53 Final Jeopardy Answer Blue Collar= Autocratic White Collar = Democratic and Free Reign