DECA Entrepreneurship Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
Antonio has been tasked with helping the accounting staff at his company make the transition
to a new
recordkeeping software. He has been instructed to facilitate training sessions, answer
employee
questions, and show the staff how the new software will help make their jobs easier. Antonio
is
performing __________ management. - CORRECT ANSWERS✅✅Change. Change
management is a set of strategies designed to ensure that changes in an organization are
smoothly and thoroughly implemented. By helping the accounting staff make the transition to
a new software, Antonio is engaging in change management. He is not performing human
resource management, operations management, or supply chain management.
For successful innovation in the workplace, employees should have a desire to learn and be
willing to - CORRECT ANSWERS✅✅Accept change. Innovation is the process of creating
new or more effective products, processes, services, technologies, or ideas. Creating
something new requires change. When a business encourages its employees to learn about
new processes, customer wants, market needs, and trends, innovation is more likely to occur.
Exhibiting bias and suppressing ideas may have a negative effect on innovation. Following
certain types of business procedures is important for creating a safe and fair work
environment
and does not necessarily affect innovative processes.
Some general guidelines for creating a successful business plan include making the plan clear
and
concise, making the plan focused, and making the plan - CORRECT
ANSWERS✅✅Realistic. A business plan should be clear, concise, focused, realistic, and
accurate with a logical structure and flow. Each section should begin with a short summary.
The executive summary should be interesting and intriguing. The goods and services should
be explained simply. The marketing analysis should include only pertinent information. The
financial plan should be simple. And you should plan ahead for tracking, follow-up, reviews,
updates, and corrections. A successful business plan should not be as long as possible,
idealistic, or complicated.
The SQZ Company uses a computer application that allows managers to view the number of
callers that
,are currently in queue and waiting for a customer-service representative to help them. This is
an example
of a - CORRECT ANSWERS✅✅Dashboard. Dashboards are technology applications that
allow management to view and evaluate a process or activity as it occurs. In the example,
managers can view the number of callers waiting in queue for service at a given time. If the
calls in queue increase, management may take steps to relieve the wait by having additional
employees take calls. Dashboards may be used to forecast or predict future
needs. By monitoring and analyzing dashboards, businesses can detect changes or patterns in
activity, and use the information to make appropriate adjustments. If dashboards indicate a
higher volume of calls between 7 p.m. - 9 p.m. on Tuesdays, the business can take steps to
add staff, so customers' wait time is decreased. In the situation described, the business is not
using a projectory or capillary.
To prevent viruses and spyware from infecting his business's computer network, Chuck built
a network
firewall. Chuck acted - CORRECT ANSWERS✅✅Proactively. Rather than waiting for
viruses and spyware to cause significant damage to his business's computer network, Chuck
built a firewall to protect the network from malicious software and worms. Chuck did not act
reactively, haphazardly, or carelessly. A reactive individual waits until there is a problem or
change before taking action. Someone who acts haphazardly does things at random and
without much reason. Someone who acts carelessly is sloppy and imprecise in his/her actions.
One of the main reasons why owners develop a business plan before starting a new business
is to - CORRECT ANSWERS✅✅Estimate financial needs. Before starting a new business,
owners develop a business plan in order to establish objectives, outline the steps to take to
achieve the objectives, and estimate financial needs. Estimating financial needs is extremely
important because the owners need to know how much money it will take to operate the new
business until it begins to generate a profit. If the owners do not have sufficient funds or
cannot obtain those funds, it may not be feasible to start the business. Owners do not develop
a business plan to organize production processes, identify qualified workers, or prepare
operating manuals.
As a manager at WorkSocks, Inc., Carla has been told by her supervisor that production on
sock puppets
must begin immediately. After training a group of her best workers, Carla has moved them
from the wool
sock room to the puppet room to begin work. At what level of management is Carla's
position? - CORRECT ANSWERS✅✅Supervisory. Supervisory, or first level, management
is made up of the supervisors who work directly with the employees carrying out the
directions of top and mid-level management. Middle, or mid-level, management is the link
, between top and first-line management that would determine what needed to be done in order
to enter the new market. Executive, or top-level, management is responsible for strategic
planning, including making the decisions about entering a new market.
The effect that selling should have on customer purchase decisions is to __________ those
decisions. - CORRECT ANSWERS✅✅Influence. The salesperson's role is to guide
customers in making effective buying decisions that will lead to customer satisfaction.
Salespeople do not determine what the customer will buy—the customer does. A salesperson
should never try to compel a customer to purchase a product. Customers personalize their
own purchase decisions by basing those decisions on their own personal needs and desires.
Eddie is a small business owner. Every year, he identifies potential problems that could harm
his
company and takes steps to prepare for them. In other words, Eddie conducts - CORRECT
ANSWERS✅✅A risk assessment. A risk assessment is a process used by businesses to
identify potential hazards that could threaten the company's livelihood. Managerial
accounting is the process of analyzing and interpreting financial data to help a company
achieve its goals. A financial calculation is any calculation involving financial information.
Eddie is not conducting managerial accounting or financial calculations in this example. Even
though Eddie is an entrepreneur, he is specifically conducting a risk assessment in this
example.
It is important for companies to practice enterprise risk management (ERM) because -
CORRECT ANSWERS✅✅Most risks are predictable and manageable. Enterprise risk
management is important and helpful because most business risks are predictable and
manageable. If a company can plan for risks, it can minimize its losses. Although some risks
are surprises, most of them are not. Not managing risks can cause loss of shareholder value.
ERM should reduce business costs in the long run by helping a business avoid or manage
risks that could lose money.
Which of the following is a factor that keeps quality at the forefront of the modern business
world: - CORRECT ANSWERS✅✅Consumer pressure. Consumer pressure is a factor that
keeps quality at the forefront of the modern business world. Customers demand quality, and
if a company doesn't provide it, they'll take their business elsewhere. Various consumer
groups also keep the pressure on companies to make quality a top priority. Weather patterns,
outdated technology, and currency fluctuations are not factors keeping quality as a main
concern for today's businesses.
QUESTIONS AND CORRECT ANSWERS
Antonio has been tasked with helping the accounting staff at his company make the transition
to a new
recordkeeping software. He has been instructed to facilitate training sessions, answer
employee
questions, and show the staff how the new software will help make their jobs easier. Antonio
is
performing __________ management. - CORRECT ANSWERS✅✅Change. Change
management is a set of strategies designed to ensure that changes in an organization are
smoothly and thoroughly implemented. By helping the accounting staff make the transition to
a new software, Antonio is engaging in change management. He is not performing human
resource management, operations management, or supply chain management.
For successful innovation in the workplace, employees should have a desire to learn and be
willing to - CORRECT ANSWERS✅✅Accept change. Innovation is the process of creating
new or more effective products, processes, services, technologies, or ideas. Creating
something new requires change. When a business encourages its employees to learn about
new processes, customer wants, market needs, and trends, innovation is more likely to occur.
Exhibiting bias and suppressing ideas may have a negative effect on innovation. Following
certain types of business procedures is important for creating a safe and fair work
environment
and does not necessarily affect innovative processes.
Some general guidelines for creating a successful business plan include making the plan clear
and
concise, making the plan focused, and making the plan - CORRECT
ANSWERS✅✅Realistic. A business plan should be clear, concise, focused, realistic, and
accurate with a logical structure and flow. Each section should begin with a short summary.
The executive summary should be interesting and intriguing. The goods and services should
be explained simply. The marketing analysis should include only pertinent information. The
financial plan should be simple. And you should plan ahead for tracking, follow-up, reviews,
updates, and corrections. A successful business plan should not be as long as possible,
idealistic, or complicated.
The SQZ Company uses a computer application that allows managers to view the number of
callers that
,are currently in queue and waiting for a customer-service representative to help them. This is
an example
of a - CORRECT ANSWERS✅✅Dashboard. Dashboards are technology applications that
allow management to view and evaluate a process or activity as it occurs. In the example,
managers can view the number of callers waiting in queue for service at a given time. If the
calls in queue increase, management may take steps to relieve the wait by having additional
employees take calls. Dashboards may be used to forecast or predict future
needs. By monitoring and analyzing dashboards, businesses can detect changes or patterns in
activity, and use the information to make appropriate adjustments. If dashboards indicate a
higher volume of calls between 7 p.m. - 9 p.m. on Tuesdays, the business can take steps to
add staff, so customers' wait time is decreased. In the situation described, the business is not
using a projectory or capillary.
To prevent viruses and spyware from infecting his business's computer network, Chuck built
a network
firewall. Chuck acted - CORRECT ANSWERS✅✅Proactively. Rather than waiting for
viruses and spyware to cause significant damage to his business's computer network, Chuck
built a firewall to protect the network from malicious software and worms. Chuck did not act
reactively, haphazardly, or carelessly. A reactive individual waits until there is a problem or
change before taking action. Someone who acts haphazardly does things at random and
without much reason. Someone who acts carelessly is sloppy and imprecise in his/her actions.
One of the main reasons why owners develop a business plan before starting a new business
is to - CORRECT ANSWERS✅✅Estimate financial needs. Before starting a new business,
owners develop a business plan in order to establish objectives, outline the steps to take to
achieve the objectives, and estimate financial needs. Estimating financial needs is extremely
important because the owners need to know how much money it will take to operate the new
business until it begins to generate a profit. If the owners do not have sufficient funds or
cannot obtain those funds, it may not be feasible to start the business. Owners do not develop
a business plan to organize production processes, identify qualified workers, or prepare
operating manuals.
As a manager at WorkSocks, Inc., Carla has been told by her supervisor that production on
sock puppets
must begin immediately. After training a group of her best workers, Carla has moved them
from the wool
sock room to the puppet room to begin work. At what level of management is Carla's
position? - CORRECT ANSWERS✅✅Supervisory. Supervisory, or first level, management
is made up of the supervisors who work directly with the employees carrying out the
directions of top and mid-level management. Middle, or mid-level, management is the link
, between top and first-line management that would determine what needed to be done in order
to enter the new market. Executive, or top-level, management is responsible for strategic
planning, including making the decisions about entering a new market.
The effect that selling should have on customer purchase decisions is to __________ those
decisions. - CORRECT ANSWERS✅✅Influence. The salesperson's role is to guide
customers in making effective buying decisions that will lead to customer satisfaction.
Salespeople do not determine what the customer will buy—the customer does. A salesperson
should never try to compel a customer to purchase a product. Customers personalize their
own purchase decisions by basing those decisions on their own personal needs and desires.
Eddie is a small business owner. Every year, he identifies potential problems that could harm
his
company and takes steps to prepare for them. In other words, Eddie conducts - CORRECT
ANSWERS✅✅A risk assessment. A risk assessment is a process used by businesses to
identify potential hazards that could threaten the company's livelihood. Managerial
accounting is the process of analyzing and interpreting financial data to help a company
achieve its goals. A financial calculation is any calculation involving financial information.
Eddie is not conducting managerial accounting or financial calculations in this example. Even
though Eddie is an entrepreneur, he is specifically conducting a risk assessment in this
example.
It is important for companies to practice enterprise risk management (ERM) because -
CORRECT ANSWERS✅✅Most risks are predictable and manageable. Enterprise risk
management is important and helpful because most business risks are predictable and
manageable. If a company can plan for risks, it can minimize its losses. Although some risks
are surprises, most of them are not. Not managing risks can cause loss of shareholder value.
ERM should reduce business costs in the long run by helping a business avoid or manage
risks that could lose money.
Which of the following is a factor that keeps quality at the forefront of the modern business
world: - CORRECT ANSWERS✅✅Consumer pressure. Consumer pressure is a factor that
keeps quality at the forefront of the modern business world. Customers demand quality, and
if a company doesn't provide it, they'll take their business elsewhere. Various consumer
groups also keep the pressure on companies to make quality a top priority. Weather patterns,
outdated technology, and currency fluctuations are not factors keeping quality as a main
concern for today's businesses.
