1. Define a Paternalistic Leader?
- behave rather as a parent might in making family decisions. They consult at every level and explain their reasons, but take the final decision themselves.
- guide rather than dictate, consulting widely and encouraging everyone to participate in the decision making process.
- take top-down decisions without consulting employees to find out their views. they may provide very little information on the reasons for the decision
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2. What is a margin of safety?
- where sales can increase from their current level
- the amount by which sales can fall from their current level before reaching the break-even point
- A margin used to keep profit safe
3. Define what is meant by Penetration Pricing?
- this strategy uses a low price to enter the market & gain market share
- this strategy uses a high price to enter the market. Even though the price is high, some people may still be eager to try a new product once sales from the group of people disappear the price of the product can decrease to attract new customers.
4. Which one of these is a motive for becoming an entrepreneur?
5. What is the formula for revenue?
- profit- sales
- profit x fixed cost
- price x quantity sold
- cost of sales x price
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