A Big Shock Is Usually in Store for Entrepreneurs When

question 1

Multiple Choice

A big shock is usually in store for entrepreneurs when:

• A) banks require monthly interest payments on their loan.
• B) key employees ask for a raise.
• C) competitors become aggressive.
• D) they receive the first offer for their business.

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Definitions:

Workforce

Refers to the pool of employees or labor available to an organization or country, including both the employed and those seeking employment.

Short-Range Plans

Strategic plans developed to achieve goals or objectives within a relatively short time frame, typically up to one year.

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The assigning of jobs to work or processing centers.

Yield Management

Capacity decisions that determine the allocation of resources to maximize profit or yield.