Discuss the importance of studying management (1%). 2. Discuss the difference between efficiency and effectiveness (1%). 3. What Planning Do Entrepreneurs Need to Do? Briefly define the plan (1%). 4. Please choose from the following words and fill them into the blanks (2%). The words: "plan, planner, planning, organize, organizer, organizing, lead, leader, leading and control, controller, controlling" a. When Brian Scudamore decided to start a business hauling away the junk that people no longer wanted, he was beginning to __________ for his business.

b. When Brian Scudamore started his business, he needed to __________ his resources so that he could undertake the tasks at hand.

c. Since 1-800-GOT-JUNK required drivers, all of whom were new and needed his guidance, this required Brian to __________ his employees to accomplish the goals he had established for his business.

d. Once Brian had assigned everyone their jobs, he still had to check to make sure that things were being done according to his instructions. In doing so he was undertaking some __________ of the business.

Brian found that if he was to motivate his employees and be a better __________ he needed to involve his employees in the decision-making.

f. Sometimes mistakes are made in a business, and especially with new ventures; the key is to identify what needs to be fixed early to minimize errors if they occur, allowing a manager to better __________ their business.

g. As 1-800-GOT JUNK became successful, Brian realized that he needed a different model in order to finance his growth. To do so he started to __________ how he could franchise the business and thereby share the risks with his franchisees.

h. Brian was in effect __________ when he began to franchise the business because he was changing its structure.

i. The decision to expand the business into painting, which was a different business, required __________ in order to accomplish the goals of that business.

j. Since 1-800-GOT JUNK has expanded across the country and entered foreign markets as well, this will require Brian to spend more time on the road communicating and __________ his employees, such that they stay focused on thetasksathand.