Keys to Success
Exam number 07003100
1. Before starting Bronwyn's Boutique, Betty Brown developed a mission statement and a business plan, in keeping with the fundamental business principle of
B. the start up stage
C. growing a business
D. market strategy
2. What is the primary purpose of a mission statement?
A. to promote the growth of a business
B. to explre the options for a business
C. to state the reason for the existence of a business
D. to list the imediate goals of the business
3. Which one of the following is a grand scale mission statement?
A. "to build a better mouse trap"
B. "to make better cars"
C. "to prepare for any eventuality"
D. "to bring the world into jet age"
4. You business plan is a?
A. breif description of your business
B. strategy for opening your business
C. blueprint for the acheivement of your goals
D. selection of your best business ideas
5. In a mission statement, the phrase striving fir honesty and integrity represents the ____ of the organization.
6. Maureen, a talented painter, started a business making handmade furniture with customized designs painted on each piece. Because she knows nothing about marketing, you'd advise her to?
A. ask a relative to handle marketing for her
B. teach herself how to market the products
C. rely on word-of-mouth to sell her furniture
D. hire an outsider with marketing experience
7. The bullet points beneth a one-line mission statement often serve as
A. value statements to show how the mission will be achieved
B. lesser goals to consider for the future
C. a timeline for achieving the company's goals
D. a reminder of the one-line statement
8. Earl's health Emperium, a sole proprietorship, has a mission that includes promoting health and harmony through organic foods and meditation. the statement is evidence of
A. a mature business
B. the owners goals and values
C. the intention to expand its services
D. the CEO's short-term goals
9. "To make a profit while benefitting humanity" is an example of a mission statement that
A. incorporates values
B. is too vague
C. is too humanitarian
D. confuses the fundamental goal
10. What is one of the best ways to determine what kind of business you'll enjoy
A. buy an established business
B. create one related to what you do in your free time
C. get advice from a professional
D. make small investments in several diverse ideas
11. "To get out the vote" is an example of what type of mission statement?
A. the grand scale statement
B. the social values statement
C. the anti-mission statement
D. the partisan statement
12. One of the risks involved in the anti-mission statement is that it
A. is too aggressive
B. can backfire
C. can be dishonest
D. is misleading
13. What is one characteristic of a clear goal?
A. it's felxible
B. it's measureable
C. it's unique
D. it's imaginative
14. Choosing firm goals for your business
A. elimanats other options
B. allows you to diversity as oppertunities develop
C. prevents you from staying focused
D. allows you to be more flexible
15. Identifying the needs a business will address is a good example of the ____ of the organization
16. One of the goals you have set for your company is "to expand our product line." This statement is
A. a short term goal
B. a valuable addition to your mission statement
C. not clear and not measurable
D. a slow growth option
17. In the process of brainstoming his goals, Robert realized his web business was more about money than creativty. His decision to include a minimum monthly income of $5,000 as part of his mission statement is an example of?
A. a specific, measurable goal
B. a values statement
C. compromising principles
D. gratifying investors
18. Your business plan is a tool that can
A. clarify your business strategy for investors
B. double as an office manual for new employees
C. be used to get your business license
D. be useful only in the start up stage
19. Owens finest Matress Company Inc decided to employ an anti-mission statement. Which of the following phrases did they use?
A. We'll make the finest even finer
B. We'll decrease production to save money
C. We'll strive to out sell every other matress manufacturer
D. We'll destroy Sealy
20. As you track your progress, you'll act, observe, adjust, and then
A. act again
C. study the results
D. announce the results
Exam number 07003200
1. If you were at a neighborhood party, _____ would be very much like networking?
2. You've joined the American Emu Association and have arrived at its annual conference. You see a man standing off to the side and decide to practice your networking skills on him. What is the best way to make contact?
A. Hand him your business card and introduce yourself
B. Tell him the name of your business and ask for referrals
C. Strike up a conversation and tell him something about your business
D. Don't waste his time - just tell him how he can help you
3. Making a good first impression is vital, since we tend to form an opinion in about
A. 2 minutes
B. ten seconds
C. thirty seconds
D. 30 minutes
4. Exchange of information, assessment, and collaboration are important stages of making a good business connection. What comes next?
A. Exchange business cards
B. asking about the person's family
C. finding investors
D. following up with a phone call
5. When choosing to use the products or services of a business, most people place the highest value on?
B. impressive advertisement
C. extensive research
D. referrals from friends
6. You've been introduced to Amy at a local Business and professional womans meeting. After you've chatted with her a few minutes, what can you do to find out if she will be a valueable new business contact?
A. ask yourself if Amy is someone you would want for a friend
B. find out if she is in the same business as you are
C. use your gut instinct
D. ask questions about her business and tell her what you need
7. You've told Dan, a new contact, that you're looking for a qualified sales representative. Now you want to find out if there's any way you can help his business. What is an effective way to approach the question?
A. ask him if he has any challenging problems in his business
B. hint that you might be willing to help him in return for referrals
C. give him your business card and tell him to call if he ever needs anything
D. tell him you've heard his field has some major problems and offer help
8. At a busy meeting of the international Sprout growers, you want to make contact with as many people as possible. Luckily, you remember the 8 minute rule of importance of?
A. handling out ou business cards quickly
B. spending only a brief time with each contact
C. eliminating contacts within minutes
D. keeping your pitch under 10 minutes
9. At the business expo, you've introduced yourself to Andrea, a packaging supplier from your city. The next thing you should do is
A. describe your business using 3 or 4 lines you've prepared in advance
B. ask for her phone number
C. find out quickly whether she has anything you need
D. ask her for several referrals
10. Holding you coffe cup in your left hand is a good way to
A. keep your left hand warm
B. make contacts with greater poise
C. show your sophistacation
D. eliminate embrassing spills
11. You've just met Jim at a state convention for widget and sprocket manufacturers. Which one of the following would be the best topic for conversation?
A. your interesting family history
B. your quick success, even if its not true
C. One or two things your business needs
D. how you disaprove of the competition
12. You, Joanne, and David have a very valuable conversation and have exchanged business cards. The next time you should do is?
A. make notes about the meeting on the backs of their business cards
B. move on quickly to meet the next person
C. take a moment of silence to regain your composure
D. make a few cell phone calls to offset your nervous energy
13. You've signed up for a exciting 2 day work shop on small business web design. What can you do in advance that will help you network effectively at the meeting?
A. do research on instructures and panel members so you can talk to them about their work
B. make sure your cassette player has batteries so you can record the sessions so you can listen to them later
C. talk to your friends about the event, so you're energized with the day arrives
D. study up on jargon so you'll sound informed
14. Estelle has 30 years of experience in your field, and has answered your questions, given you advice, and helped you make contacts. She is your
15. What is the most important thing about meeting new contacts?
A. buiding your Rolodex
B. forming relationships
C. getting referrals
D. overcoming shyness
16. Joan, a new contact, is describing her new businesss to you. As you listen, what should you be thinking about?
A. what you are going to say next
B. how soon to move on to the next person
C. whether or not she's likely to send you any referrals
D. what kind of help you can offer her
17. You've spoken with Chris at several local meetings. You've met again and recived some important advice. Which of the following is an inappropriate method for staying in touch with chris?
A. calling once a week to ask for referrals
B. sending a thank you note after your meeting
C. inviting Chris to a concert
D. sending an artical related to Chris' interest
18. A good way for remembering your newest contacts name is to?
A. write it on your hand
B. make up a jingle for it
C. repeat it at the end of the sentence every time you talk to him or her
D. repeat it silently in your head
19. One of the best networking traits you can develope is?
B. a modest attitude
D. the ability to listen
20. You've arrived at the Pecan Shellers conference - your first networking oppertunity. Naturally, you're feeling nervous, but to aviod seeming insecure or ubcertain, you've decided to?
A. square your shoulders before entering the room
B. hold a impowered image of yourself in your mind
C. speak a little louder than you would normally
D. talk on your cell phone as you walk around
Thank you for your help!