Chapter 5

1. Define entrepreneur. (SQ)

2. Describe the three characteristics of entrepreneurial activity. (SQ)
3. Identify five potential advantages to starting your own business. (SQ)
4. Explain the differences among three types of start-up firms.
5. Define a small business. (SQ)
6. Explain what it takes to start a business.
7. Evaluate the advantages and disadvantages of several small business
ownership options—starting a business from scratch, buying an existing
business, and obtaining a franchise.

Chapter 6
1. Identify the four interrelated functions of management: planning,
organizing, directing, and controlling. (SQ)
2. Understand the process by which a company develops and implements a
strategic plan.
3. Explain how managers direct others and motivate them to achieve
company goals.
4. Describe the skills needed to be a successful manager. (SQ)

Chapter 7
1. Define human resource management and explain how managers develop
and implement a human resource plan.
2. Define motivation and describe several theories of motivation. (SQ)
3. What is collective-bargaining process. (SQ)

Chapter 9
1. Define the terms marketing, marketing concept, and marketing
strategy.
2. Explain the four Ps of the marketing mix.
3. Discuss various branding strategies and explain the benefits of
packaging and labeling. (SQ)