Difference between revisions of "AY Honors/Business/Answer Key"
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| − | ==1. Define the following terms:== | + | ==1. Define the following terms:== <!--T:3--> |
;a. Break Even: | ;a. Break Even: | ||
;b. Business: | ;b. Business: | ||
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;n. Target market: | ;n. Target market: | ||
| − | ==2. Describe three ways in which a business may be conceived== | + | ==2. Describe three ways in which a business may be conceived== <!--T:4--> |
| − | ==3. Explain the benefits of having a management team in a business (note that one person might adopt all these roles in a small/micro business)== | + | ==3. Explain the benefits of having a management team in a business (note that one person might adopt all these roles in a small/micro business)== <!--T:5--> |
| − | ==4. List ways that a business’ product/service may be promoted== | + | ==4. List ways that a business’ product/service may be promoted== <!--T:6--> |
| − | ==5. Show how you determine== | + | ==5. Show how you determine== <!--T:7--> |
===a. Price of the product=== | ===a. Price of the product=== | ||
===b. Break-even point=== | ===b. Break-even point=== | ||
===c. Profit/loss === | ===c. Profit/loss === | ||
| − | ==6. Discuss ways in which the profits of a company can be used?== | + | ==6. Discuss ways in which the profits of a company can be used?== <!--T:8--> |
| − | ==7. Brainstorm at least 4 ideas for small business that can be conducted by Pathfinders in your club. Evaluate the strengths, weaknesses, opportunities, and threats associated with each of them.== | + | ==7. Brainstorm at least 4 ideas for small business that can be conducted by Pathfinders in your club. Evaluate the strengths, weaknesses, opportunities, and threats associated with each of them.== <!--T:9--> |
| − | ==8. Develop a business plan for at least one of your ideas from #7 above. Include the following in the plan:== | + | ==8. Develop a business plan for at least one of your ideas from #7 above. Include the following in the plan:== <!--T:10--> |
;a. Description of business: | ;a. Description of business: | ||
;b. Capital needed and the source of the capital: | ;b. Capital needed and the source of the capital: | ||
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;h. Dissemination of profit: | ;h. Dissemination of profit: | ||
| − | ==9. Execute the plan== | + | ==9. Execute the plan== <!--T:11--> |
===a. Build the management team=== | ===a. Build the management team=== | ||
===b. Create the product=== | ===b. Create the product=== | ||
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===g. Suggestions for improvements=== | ===g. Suggestions for improvements=== | ||
| − | ==10. Discuss ethical issues and Christian values involved in conducting a business== | + | ==10. Discuss ethical issues and Christian values involved in conducting a business== <!--T:12--> |
===a. To God === | ===a. To God === | ||
===b. To the government=== | ===b. To the government=== | ||
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===d. To the employee=== | ===d. To the employee=== | ||
| − | ==11. Recount the story of Joseph as a shrewd manager and businessman (Genesis 41:39-57), the parable of the talents (Luke 19:11-26) or other similar bible passage. Identify three lessons from the story that can be applied to your business== | + | ==11. Recount the story of Joseph as a shrewd manager and businessman (Genesis 41:39-57), the parable of the talents (Luke 19:11-26) or other similar bible passage. Identify three lessons from the story that can be applied to your business== <!--T:13--> |
| − | ==References== | + | ==References== <!--T:14--> |
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Revision as of 18:58, 30 March 2015
Template:AY patch unavailable
Template:Honor desc
1. Define the following terms:
- a. Break Even
- b. Business
- c. Business Plan
- d. Capital
- e. Distribution
- f. Interest
- g. Micro business
- h. Price
- i. Product
- j. Production
- k. Profit
- l. Promotion
- m. Service
- n. Target market
2. Describe three ways in which a business may be conceived
3. Explain the benefits of having a management team in a business (note that one person might adopt all these roles in a small/micro business)
4. List ways that a business’ product/service may be promoted
5. Show how you determine
a. Price of the product
b. Break-even point
c. Profit/loss
6. Discuss ways in which the profits of a company can be used?
7. Brainstorm at least 4 ideas for small business that can be conducted by Pathfinders in your club. Evaluate the strengths, weaknesses, opportunities, and threats associated with each of them.
8. Develop a business plan for at least one of your ideas from #7 above. Include the following in the plan:
- a. Description of business
- b. Capital needed and the source of the capital
- c. Price of the product/service
- d. Target market
- e. Promotional method
- f. Sales location
- g. Expected gains
- h. Dissemination of profit
