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

$100 Question from

Entrepreneurship

Define What an Entrepreneur is.

$100 Answer from

Entrepreneurship

A entrepreneur is someone who

organizes, manages, and assumes

The risk of a business.

$200 Question from

Entrepreneurship

Define Entrepreneurship

$200 Answer from

Entrepreneurship

The process of discovering

new ways of combining

resources

$300 Question from

Entrepreneurship

Define Creative Destruction and provide an

Example of a business or product that embodies

This concept

$300 Answer from

Entrepreneurship

The introduction of new

Products that result in

The obsolesce or failure of

Others. Examples?

$400 Question from

Entrepreneurship

Define Kirzner’s theory on what an

Entrepreneur is.

$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)

$500 Question from

Entrepreneurship

Explain the difference between a Lifestyle and

A Gazelle Entrepreneur.

$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.

$100 Question from Types of

Ownership

Provide one Pro and one Con of a

Sole Proprietorship

$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.

$200 Question from Types of

Ownership

Provide one advantage and one disadvantage of a

Partnership

$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.

$300 Question from Types of

Ownership

How can a corporation raise

money to expand their business

$300 Answer from Types of

Ownership

Sell Stock

$400 Question from Types of

Ownership

Provide one Disadvantage of a Corporation

$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

$500 Question from Types of

Ownership

What does Limited Liability Mean?

$500 Answer from Types of

Ownership

That you can only loose

What you have invested

In the business.

$100 Question from leadership

styles

As part of this leadership style

managers and employees work

together to make decisions.

$100 Answer from leadership

styles

Democratic

Leadership

$200 Question from leadership

styles

This leadership style aligns with

Taylor’s theory of motivation

$200 Answer from leadership

styles

Autocratic Leadership

$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

$300 Answer from Leadership

Styles

Free-Rein Leadership

$400 Question from Leadership

Styles

What is one problem with Autocratic

leadership

$400 Answer from Leadership

Styles

No one likes to work for them

Workers tend to be less productive

$500 Question from Leadership

Styles

What leadership styles best

match with Maslow’s

Hierarchy of needs?

$500 Answer from Leadership

Styles

Democratic and/or Free Reign

$100 Franchise Project Questions

This is what we call the percentage

Of sales that the franchisee pays to the

Franchisor

$100 Answer from Franchise

Project Questions

Royalty Fee

$200 Question from Franchise

Project Questions

What do you receive for paying your

Royalty Fee?

$200 Answer from Franchise

Project Questions

Marketing, Product Development

Display items for store, support from

Franchisor

$300 Question from Franchise

Project Questions

What is the larger number

Goss or Net Profit?

$300 Answer from Franchise

Project Questions

Gross Profit = Sales - COGS

$400 Question from Franchise

Project Questions

What is the difference between

Gross and Net Profit

$400 Answer from Franchise

Project Questions

Gross Profit does not

Include deductions for

Taxes, payroll, utilities

$500 Question from Franchise

Project Questions

Provide one example of a liquid asset

And one example of a non liquid asset

$500 Answer from Franchise

Project Questions

Liquid- Cash, Stocks, Gold,

Non-Liquid- Building, Machinery

$100 Question from Chapter 11

According to this theory all workers are

Lazy and are only motivated by money

$100 Answer from Motivational

Theories

Taylor

$200 Question from

Motivational Theories

Provide one example of each form

Of motivation in the work place

•Stick

•Carrot

$200 Answer from Motivational

Theories

Stick = Punishment

Carrot = Reward

$300 Question Motivational

Theories

What is one problem with Maslow’s

Theory

$300 Answer from Motivational

Theories

•Hard to tell where workers are on the

Pyramid

• some levels don’t seem to exist for

Certain individuals

$400 Question Motivational

Theories

Explain the Hawthorne Effect

$400 Answer from Motivational

Theories

The Hawthorne Effect – The idea that

workers are motivated by recognition

given to them as a group

$500 Question Motivational

Theories

What leadership style uses

Taylors ideas?

$500 Answer from Motivational

Theories

Autocratic

Final Jeopardy

What leadership style would you say

Works better with blue collar vs white

Collar workers

Final Jeopardy Answer

Blue Collar= Autocratic

White Collar = Democratic

and Free Reign