Business Unit 1 Test - Gr.9

What are the 3 main business leadership styles?

1. Autocratic Leadership

2. Democratic Leadership

3. Laissez-Faire Leadership

What is an Autocratic Leadership style?

Centralized authority; decisions enforced top-down without seeking team input. Used in high-pressure or emergency situations (e.g., kitchen dinner rush).

What is a Democratic Leadership style?

Guiding style where leaders actively seek team input and collaborate before finalizing decisions.

What is a Laissez-Faire leadership style?

Hands-off approach providing high team autonomy and minimal direct supervision.

What is a hard skill?

Technical, trainable abilities specific to a job or industry (e.g., fluency in a language, operating equipment, financial accounting).

What is a soft skill?

Interpersonal and emotional attributes that govern how people interact, collaborate, manage time, and resolve conflict.

What is an Entrepreneur?

An individual who organizes, operates, and manages a business, assuming financial risk.

What are 4 Universal Management Functions?

1. Planning

2. Organizing

3. Leading

4. Controlling

How do Entrepreneurs contribute to the economy?

They expand tax bases, drive market innovation, and create jobs (Canadian small businesses employ more than 60% of the workforce).

What are some economic risks that Entrepreneurs face?

• Financial exposure

• Market failure

• Bankruptcy

• Potential wealth distribution disparities

What are some entrepreneurial operating terms?

• Discretionary income (money left after taxes/essentials)

• Contract Labour (hiring project-based self-employed experts)

  
  

What is an elevator pitch?

A 30–60 second compelling presentation including introduction, strengths/skills, future goals, and an engaging call to action/question.

What are some Persuasion Principles?

Understanding audience priorities, using resonant storytelling, and maintaining brevity and emotional connection.

What are some Negotiation Strategies?

Listening more than speaking, understanding opponent needs, and pursuing 'win-win' outcomes.

What is EI?

EI is Emotional Intelligence.

What are the 4 branches of EI?

1. Perceiving emotions

2. Using emotions

3. Understanding emotions

4. Managing emotions

What is the difference in perceiving versus managing?

Perceiving is recognizing emotional signals (voice, face, body); Managing is regulating emotional responses constructively.

What is Multimodal Decoding?

Analyzing facial expressions, body language, and verbal speech simultaneously to detect underlying issues.

What is active listening?

Involves deferring judgment, focusing on facts/content over emotion, asking clarifying questions, and overcoming barriers such as preconception, emotion, distraction, and linguistics.

What is De-escalation?

Applying active listening to remove emotional blame during project pressure or unexpected failure

What is leader action during teamwork and conflict resolution?

Redirecting group focus toward constructive problem-solving using democratic input and leveraging team strengths.