Search
Info
Warning
Danger

Study Resources (Business Management)

101) Growth entrepreneurs want to own a gazelle company. a. True b. False 102) Nearly all small businesses have 20 or fewer employees. a. True b. False 103) Harry wanted to try some new ideas on his customers. However, small businesses do not have the flexibility to explore innovative techniques as readily as larger firms. a. True b..
1 Views
View Answer
61) It’s important that budgets are checked for accuracy ____________. a. each day b. each week c. each month d. each year 62) ____________ can contribute to the failure of a small business. a. Taking on more loans despite lack of returns b. Low interest rates c. Selling personal assets d. Anticipating personal sacrifices 63) A formal document that states.
1 Views
View Answer
61) Camel Clothiers is a small clothing manufacturer. Its best-selling product, camel felt boots, has recently gained the attention of animal rights activists. As a result, its monthly sales revenue has dropped by 50 percent. Several years ago, the chief executive officer and top-level executives developed a plan about what.
1 Views
View Answer
91) A large publishing company that competes in the educational market obtains a small publishing company that offers a line of unique reading intervention products based on a new literacy theory. Determine the MOST likely reason for this acquisition. a. The large publishing company wants to diversify its product line. b. The.
1 Views
View Answer
11) Identify the TRUE statement from the following statements about business letters. a. The salutation of a business letter should always use a title and last name for formality. b. Much like a memo, a business letter should include the minimum amount of detail. c. The main purpose of a business letter should.
1 Views
View Answer
143) Successful managers possess a variety of skills. Briefly outline these skills. 144) Describe the five steps involved in the decision-making process. 145) Your friend has just been recently promoted to the top management team. He confided in you that he has problem dealing with his multiple commitments and family life. Make.
1 Views
View Answer
145) In September 2001, technology company Hewlett-Packard (HP) announced a proposal to acquire Compaq Computer Corporation for $25 billion in stock. It offered shareholders a deal whereby they could exchange one Compaq share for one HP share. At the time, HP shares were worth 18 percent more than Compaq shares..
1 Views
View Answer
11) When the final choice has been made during the decision-making process, the next step is to _____________. a. identify the problem b. evaluate the alternatives c. implement the plan of action d. generate an alternative solution 12) Jonathan is a manager who is known to have technical skills, while Michelle is good at time.
2 Views
View Answer
11) Micropreneurs want to achieve a ________ by keeping their business small. a. simple routine b. balanced lifestyle c. practical goal d. convenient schedule 12) Which of the following is a type of entrepreneur? a. macropreneur b. self-styled entrepreneur c. Minipreneur d. intrapreneur 13) Growth entrepreneurs are typically known to ____________. a. strive for a pre-determined point of success b. aim for.
1 Views
View Answer
1) Rose’s ability to discuss different topics is coupled with her ability to convincingly present her ideas to an audience. These good presentations all stem from _________. a. good marketing skills b. good oral communication skills c. good advertising skills d. good interpersonal skills 2) David is giving an important presentation to his department. Describe.
1 Views
View Answer
21) Based on market analysis, identify the customer that is most likely to benefit from purchasing a commercial-grade washing machine that operates with half the time and half the energy costs of other washing machines. a. a homeowner b. a hotel owner c. a café owner d. a doctor’s office 22) Arthur is planning to.
1 Views
View Answer
101) Having technical, conceptual, decision-making, and interpersonal skills is enough to manage a successful business. a. True b. False 102) Conceptual skills require that managers be able to recognize specific ways in which they can make every task or situation productive. a. True b. False 103) Creating folders to store e-mails usually shows good time-management skills. a..
1 Views
View Answer
1) Eric’s new job really engages and interests him. He finds himself completely immersed in his work and so focused that he feels like everything is in synch as he works. Identify the term that BEST describes this feeling. a. effortlessness b. balance c. flow d. zone 2) Describe what happens when people are in.
4 Views
View Answer
1) ___________ is the process of working with people and resources to accomplish the goals of the organization. a. Recruitment b. Production c. Management d. Communication 2) Propose a term for the drafting skills of an architect, programming skills of a software developer, or a market analysis of a marketing manager. a. conceptual skills b. technical skills c..
4 Views
View Answer
71) Middle managers are responsible for _____________. a. strategic planning b. operational planning c. long-term planning d. tactical planning 72) Sam supervises the employees who carry out the day-to-day operations of a leather company. He is MOST likely a _____________. a. top manager b. resource manager c. first-line manager d. middle manager 73) An organizational chart shows how groups of.
1 Views
View Answer
81) As businesses continue to reduce the layers of management, identify the styles that are fast becoming the leadership styles of choice. a. democratic and autocratic b. laissez-faire and democratic c. contingency and autocratic d. laissez-faire and autocratic 82) Businesses that use contingency leadership do so because they recognize the importance of being _____________. a. influential b..
1 Views
View Answer
131) Recently, China has been accused of putting melamine in their dairy products, which has caused severe vomiting and headaches among children. Several countries have imposed bans on importing Chinese dairy products. Determine what type of trade barrier is shown in this situation. 132) Henry operates a farm that produces pineapples.
1 Views
View Answer
41) When performing a SWOT analysis, one of the following must be analyzed. a. company’s values b. mission statement c. company’s vision d. company’s strengths and weaknesses 42) One of these statements is TRUE about tactical planning. a. Tactical planning is only done occasionally. b. Tactical planning focuses on specific goals. c. Tactical planning has a long-term horizon. d..
1 Views
View Answer
31) Which of the following is a method of doing business whereby the business sells a company’s products under the company’s name to independent third-party operators? a. joint venture (the franchisor) grants the purchaser (the franchisee) the right to use its brand name and to sell its goods and services for a.
1 Views
View Answer
141) Exchange rates affect multinational companies in many ways. Companies that import raw materials from other countries are dependent on the rise and fall of those countries’ currencies. Evaluate how fluctuating exchange rates can be advantageous to a business. 142) Cultural differences are evident when companies enter the global market. Although.
1 Views
View Answer
21) Which of the following statements about small businesses is TRUE? a. They foster innovation. take risks, more flexible to explore innovative techniques, and better equipped to push through inventions than larger firms.b. They react very slowly as compared with larger companies. take risks, more flexible to explore innovative techniques, and better equipped.
1 Views
View Answer
146) Defineoutsourcing. 147) Define free trade. 148) Explainthe meaning of dumping. 149) Describe the role of the World Trade Organization in businesses. 150) Describe the free-trade agreement that includes Canada, the United States, and Mexico. .
1 Views
View Answer
1) The first step you should take when starting a business is __________. a. advertising b. financing c. marketing d. planning 2) Mateo is planning to open a small car wash. Describe what you would advise Mateo to do first. a. Secure the needed permits. b. Look for financing sources. c. Give out flyers and posters. d. Create a.
2 Views
View Answer
141) You are a top manager of a traditional vertical organization whose main business concern is quick delivery of services. You have observed that your competitors are shifting from the vertical setup to the more responsive horizontal setup. Describe how you would convince your peers in top management that it.
1 Views
View Answer
91) Identify a typical resource that a company can use to measure its own performance. a. customer e-mails b. business magazine reviews c. financial statements d. employee interviews 92) ________ is an integrated approach to measuring the quality of products or services from the beginning phase of the production process to the end. a. Quality control b..
1 Views
View Answer
148) Non-profit corporations make a difference in the lives of thousands of people around the world. Without selling a product or charging for a service, discuss how a non-profit corporation generates revenue. 149) Mergers and acquisitions occur when two companies decide to combine resources and work toward a common goal. Although.
1 Views
View Answer
1) Entrepreneurs most often start a business to satisfy a need in the market that is not being adequately fulfilled. This area of need is called ______________. a. fertile ground b. the marketplace c. an opportunity niche d. a consumer’s need 2) One of the following is an action of an innovative entrepreneur. a. rejecting opportunity.
3 Views
View Answer
51) Which of the following falls directly under the responsibility of first-line managers? a. annual budget allocation b. yearly plan of activities c. annual quota results d. weekly departmental budget 52) __________ is(are) considered in detail in operational planning but not in tactical planning. a. The weekly product quota b. The annual department budget c. The wages of.
1 Views
View Answer
21) ________ are short-term targets that are designed to help companies achieve goals. a. Mission statements b. Objectives c. Outcomes d. Vision statements 22) When does management establish goals and objectives? a. during a SWOT analysis b. in the last step of tactical planning c. in the first step of strategic planning d. while identifying external opportunities 23) Compare similarities.
1 Views
View Answer
126) Evaluate traits that are necessary to become a successful entrepreneur. 127) Nancy has been working for the same telecommunications company for nearly a decade. Over the years, she has thought of many original ideas that would address major problems in the market. Nancy often thinks of quitting work and setting.
1 Views
View Answer
41) Kasey is thinking about purchasing a franchise. She knows that in order to prepare everything for the grand opening, it will require a lot of money, but she doesn’t expect to spend a lot of time doing preparations. Determine whether Kasey’s expectations are correct. a. Yes, because opening a franchise.
1 Views
View Answer
111) An economic recession merits a contingency plan, especially for small businesses. a. True b. False 112) Unexpected disruptions in operations are rare in major corporations, making contingency planning unnecessary. a. True b. False 113) A company can call upon the services of local, state, or federal authorities as part of the implementation of its contingency.
1 Views
View Answer
81) Tamara used her personal credit cards to finance a new business venture. Since Tamara cannot pay off her credit balances every month, she may face ____________. a. assessments on unpaid balances b. forfeiture of her personal assets c. increased debt due to a high interest rate d. reduction of her starting capital 82) Jean.
1 Views
View Answer
126) Elizabeth worked in a data encoding company for several years before becoming a supervisor in a general transcription firm. From her own experience, she knows that transcriptionists are often stressed by deadlines and the poor quality of audio files. Therefore, she closely monitors her employees’ work but understands when.
1 Views
View Answer
51) Identify one of the things you might need to consider before buying an existing business. a. Management training incentives offered by the previous owner might be expensive. b. Market research provided by the previous owner might be outdated. c. The previous owner might be selling the business because it fared poorly. d. The.
1 Views
View Answer