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INTRODUCTION TO BUSINESS

True or False $($Write in T for True or F for False to correctly answer each statement below$)$

$\_$Tesla's market capitalization is worth more than Ford and General Motors combined.

$\_$ Joe Dudley is one of the world's most respected Black business owners.

$\_$ Joe Dudley started his manufacturing business in his own kitchen.

$\_$According to John Maxwell, "Success is a journey, not just a destination."

$\_$Education makes a difference, and individuals with a Bachelor's degree or more make the most money in their careers.

$\_$ The text states in chapter one five reasons why you should study business.

$\_$ Many business firms fail; $75\%$ of businesses fail after five years.

A profit is what remains after all business expenses have been deducted from sales revenue.

$q,$ Economics is the study of how wealth is created and distributed.

$q,$ Experts often study economic problems from two different perspectives: microeconomics and macroeconomics.

$11$ The strategic planning process involves establishing an organization's major goals and objectives and allocating resources to achieve them.

$12.\_$Areas of management specialization are finance, operations, marketing, human resources, administration, research and development.

$q,$ Interpersonal skills are specific skills needed to accomplish a specialized activity.

$q,$ Technical skills are the ability to deal effectively with other people.

$q,$ The best leadership style is participative.

$q,$ Decision making is the act of choosing one alternative from a set of alternatives.

$q,$ Problem is defined as the discrepancy between an actual condition and a desired condition.

$q,$ A small business is an independent business with fewer than $500$ employees, depending on its industry.

$q,$ The SBA was created in $1953$ to assist, counsel, and protect the interests of small businesses in the United States.

$q,$ SBA stands for Small Business Advocate.

To boost small$-$business participation in global markets, the SBA offers several programs that can help small$-$business owners who want to expand into world markets.

$q,$ Seventy percent of the world's purchasing power is outside of the United States.

$q,$ About five percent of small businesses in the United States currently engage in deliberate exporting.

$q,$ Social responsibility is the recognition that business activities have an impact on society and the consideration that impact in business decision making.

$q,$ Programs are necessary in the workplace to reduce sexual harassment and abusive behavior.

$q,$ Sexual harassment in the workplace is illegal and can result in poor morale, high turnover, and expensive lawsuits.

$q,$ Texas and New York account for about one$-$third of all U$.$S$.$ exports.

$28.q,$ Ethics is the study of right and wrong and of the morality of the choices individuals make.