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Study Resources (Business Management)

  151. An organization in which management consciously attempts to spread authority to the lower organizational levels is said to be centralized. a. True b. False 152. When managers attempt to spread authority widely in the lower levels of an organization, they are attempting to centralize authority. a. True b. False 153. A manager's reluctance to delegate.
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  31. As an upper-level manager for IBM, Rodney is one of many people responsible for allocating organizational resources in order to achieve the key goals of the company. Specifically, Rodney is in charge of collecting and analyzing data on consumer preferences in personal computer design and technology and is thus.
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  118. Privately owned firms providing venture capital would be identified as a. the Small Business Administration. b. small-business development centers. c. small-business investment companies. d. small-business institutes. e. the Active Corps of Executives. 119. A franchisor supplies all of the following except a. land to place the business on. b. the name of the.
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  Centrum Springs, Inc.   Riley has worked for Centrum Springs, Inc., for many years and has now been given the opportunity to advance in the company. His manager is retiring and hopes that Riley will take over for him. However, even though Riley is an experienced employee, there are many things that.
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1. What is management and what resources does it involve? 2. How does the organization's mission differ from its strategic planning? 3. Choose any company that you are familiar with and describe one specific example of each of the four areas of a 4. In what ways does leading differ from motivating? 5. How.
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  61. The two managerial functions that compose the process of directing an organization are a. planning and organizing. b. goal setting and planning. c. leading and organizing. d. motivating and leading. e. planning and leading. 62. When JCPenney first decided to sell its merchandise online, the manager in charge of the process had.
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  71. Grant is a division manager for a large chemical company. He frequently works to implement the strategies set by the CEO and supervises the activities of the supervisors under him. Grant is a                manager. a. top b. middle c. front-line d. first-line e. financial 72. The manager of a McDonald's restaurant is.
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  101. The      structure is considered the simplest and the oldest form of organizational structure. a. cross-functional team b. matrix c. formal d. line-and-staff e. line 102. A line-and-staff structure tends to work best for      organizations. a. medium and large size b. small to medium size c. informal d. flat e. tall 103. A basic difference between.
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  11. What is the Small Business Administration? Who created it? 12. What is the Service Corps of Retired Executives (SCORE)? How does it assist small-business owners? 13. What is a small-business institute? How does it help small-business owners? 14. What is the primary function of SBA financial assistance? Where do most SBA loans.
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  98. What organization created by Congress in 1953 assists, counsels, and protects the interests of small businesses? a. SCORE b. FTC c. SBIC d. SBA e. SBDC 99. What is the most popular course offered by the SBA? a. A "How to Get Rich Quick" course b. A course about accounting for a small business c. A.
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  141. Goals are established for only one year at a time. a. True b. False 142. Achieving a balance between competing and conflicting goals is called optimization. a. True b. False 143. Strengths and weaknesses are the external factors of a company SWOT analysis. a. True b. False 144. In a SWOT analysis, opportunities are considered.
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  81. The head of the marketing department at CBS Environmental, Inc. supervises twelve people in her department. This represents her a. chain of command. b. degree of specialization. c. level of authority. d. span of management. e. nature and degree of departmentalization. 82. The number of workers who report directly to one manager is called a..
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  61. The assignment of part of a manager's work and authority to a worker is called a. delegation. b. responsibility. c. authorization. d. accountability. e. relegation. 62. Amy, an administrative assistant in the business division of a university, is assigned the responsibility of serving the needs of the division's professors. However, Amy.
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  131. Angered by the informal discussions among employees, a supervisor has posted rules against rumors, gossip, and discussions about the company's financial situation as well as other company matters. Your managerial know-how tells you that this supervisor is a. trying to support employees' First Amendment rights. b. trying to eliminate inaccurate.
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  148. All of the following are disadvantages to the franchisee except a. a loss of control. b. continuing royalty fees. c. hard work. d. a fee for advertising. e. starting a business with limited capital. 149. The SBA is offering to help the nation's small-business owners enter world markets. SBA assistance includes all of the.
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  181. The cost of implementing a total quality management program normally results in lower returns on sales and investments. a. True b. False 182. Foreign competition, poor financial performance, and more demanding customers have encouraged businesses to place more emphasis on quality. a. True b. False 183. The effectiveness of a total quality management program is.
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  168. Small businesses account for all nongovernment employment. a. True b. False 169. Small firms have traditionally added more than their proportional share of new jobs to the economy. a. True b. False 170. Large companies often find it less expensive to purchase parts from small companies than to manufacture their own. a. True b. False 171..
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  121. A committee was organized at Xerox to study the company's hiring, promotion, and compensation policies. The group will review corporate procedures in these areas for the next six months and disband thereafter. This type of committee is referred to as a(n) a. standing committee. b. task force. c. ad hoc committee..
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  188. A license to operate an individually owned business as though it were part of a chain is a franchise. a. True b. False 189. The purchaser of a franchise is called the franchisor. a. True b. False 190. The purchaser of a franchise is called the franchisee. a. True b. False 191. Franchising experienced tremendous.
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  51. A(n)      is a smaller-scale plan developed to implement a strategy. a. strategy b. goal c. mission d. tactical plan e. objective 52. Harrington Golf Co. states that it will double its employee staff and decrease its advertising budget by 25 percent in order to keep up with its high customer demand. This is.
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  121. Jack is reviewing the recently implemented sales strategy the company developed and considering whether or not the company made the right decision. Jack is in the                stage of the managerial decision-making process. a. adopting a different alternative b. identifying the problem or opportunity c. selecting an alternative d. implementing and evaluating.
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  41. Karen Smith is a division manager at General Motors and, as such, must ensure that some sort of balance is achieved between the sometimes conflicting goals of the various departments within her division. For example, the marketing department's goal might be to increase sales by 15 percent, whereas the.
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  108. The SBA places special emphasis on aid to a. new businesses. b. those in production industries. c. minority-owned businesses. d. franchise outlets. e. those in need of guaranteed loans. 109. Most Small Business Administration loans are actually made by a. the Small Business Administration. b. the government. c. private lenders. d. private foundations. e. insurance companies. 110..
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  171. Making a successful sales presentation or holding an effective press conference takes quality communication skills. a. True b. False 172. The ability to write and speak effectively within an organization is an example of interpersonal skills. a. True b. False 173. Formal leaders have legitimate power that is based on their position within.
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  111. As Kyle conducts his annual evaluations of his employees, he notices that Connie and Debbie have both been less productive since they were relocated in the same department. Kyle is in what stage of the managerial decision- making process? a. Generating alternatives b. Conducting evaluations c. Selecting an alternative d. Identifying.
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  141. The most common bases for departmentalization are by function, by product, by location, and by customer. a. True b. False 142. Older, larger firms producing and selling various products base departmentalization on function. a. True b. False 143. Green Sports Incorporated is a small start-up company that manufactures and markets sports equipment made.
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  88. The disadvantages of small businesses include all of the following except a. limited potential for growth. b. a high risk of failure. c. no opportunity to support your family. d. limited ability to raise capital. e. limited advancement opportunities for employees. 89. According to Census Bureau and Federal Reserve surveys, about 50 percent.
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  151. Organizing is the process of grouping resources and activities efficiently and effectively to accomplish an end result. a. True b. False 152. Controlling is the process of evaluating and regulating ongoing activities to ensure achievement of goals. a. True b. False 153. The control function includes three steps: setting standards, measuring performance, and recycling.
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  158. Small businesses are generally managed by professional managers. a. True b. False 159. Small businesses are typically managed by people who started and own them. a. True b. False 160. Entrepreneurial spirit is the desire to create a new business. a. True b. False 161. A new business is built around the entrepreneur. a. True b..
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  101. O. Sawyer discovered problems in coordinating the work flow going from her department to marketing. To solve the problem, she identified some situations that needed correction and asked employees to submit their suggestions for improvement. After their suggestions were summarized, the employees selected one for implementation. Next, a supervisor.
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  81. Managers who must be familiar with the Equal Employment Opportunity Commission regulations are managers. a. financial b. operations c. marketing d. administrative e. human resources 82. Shane does not specialize in a particular function; instead, he provides overall guidance and leadership for the company. Shane is an administrative or                manager. a. marketing b. first-line c..
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  138. Which of the following is an advantage to the franchisor in a franchise agreement? a. Opportunity to start a business with limited capital b. Access to local advertising materials c. Fast and selective distribution of products d. Chance to participate in national advertising e. Chance to minimize costs through cooperative buying 139. Tim owns.
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  91. A former CEO at International Telephone and Telegraph had a reputation for publicly humiliating subordinates who annoyed or disappointed him. This manager obviously needed to improve his                skills. a. conceptual b. diagnostic c. functional d. interpersonal e. negotiating 92. Mondell’s lack of effective writing skills and his challenges in speaking to.
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  131. Which of the following is a TQM tool? a. Organizing b. Leading c. Benchmarking d. Planning e. SWOT analysis 132. If Southwest Airlines closely evaluates the products and processes of United Airlines with the intent of improving quality among their own products and practices, Southwest is using a. SWOT analysis. b. long-term strategy. c. partnering.
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  111. A disadvantage of the matrix structure is that a. people have more work to do because they are assigned to special projects in addition to their regular tasks. b. the quality of work decreases due to project teams' lack of attention to regular job duties. c. employees' supervisors change, which can.
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1. Define an organization. Relate that definition to a local eating establishment by showing how this organization fits the definition. 2. Identify and briefly describe the decisions involved that management must make in organizing a business. 3. Why is job specialization needed? 4. What are the benefits of job rotation? 5. A firm may.
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  38. Which of the following would least likely be started as a small business? a. Flower shop b. Restaurant c. Electricity company d. Landscaping business e. Furniture repair store 39. Businesses such as flower shops, restaurants, bed and breakfasts, and automobile repair are good candidates for entrepreneurs because they a. do not require any skills. b..
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  91. A consulting manager at SAP America has a very wide span of control. This is probably because the a. firm has a very loose, informal organizational structure. b. consulting manager has a low level of accountability. c. consulting manager is expected to delegate authority. d. manager's subordinates aren't given much responsibility..
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  178. An investor who is considering investing in Diane's Burger Bar would not likely want to see her business plan. a. True b. False 179. The business plan should deceive neither investors nor loan officers and should convey accurate and realistic expectations of business potential. a. True b. False 180. The SBA is a private.
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  48. Production industries make up approximately what percentage of all small businesses? a. 5 b. 10 c. 19 d. 31 e. 41 49. Of the small businesses in the distribution industry, nearly three-quarters of them are involved in a. wholesaling. b. purchasing. c. service. d. retailing. e. communications. 50. Joe decides to start his own business.
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  161. Target has several layers of management in between the entry-level management position and CEO. This implies that the span of management for each manager is relatively narrow and the organizational height of Target is tall. a. True b. False 162. Managers within a line structure are typically known as staff managers..
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  6. Which level of management has the closest contact with workers paid by the hour? How do these managers spend most of their time? 7. Why would technical skills be important to first-line managers? 8. Describe the style of the democratic leader. 9. Which of the three leadership styles described in the textbook.
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  28. Which of the following organizations would be considered a small business? a. Producer of semiconductors with 2,000 employees b. Wholesaler with 50 employees c. Retail clothing store chain with annual sales of $26 million d. Construction company with average annual receipts of $32 million e. Farmer with annual receipts of $10 million 29..
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  22. Management can achieve its goals by coordinating what four types of resources? a. Financial, material, organizational, and operational b. Informational, human, controllable, and tangible c. Tangible, intangible, human, and financial d. Human, material, financial, and intangible e. Material, informational, human, and financial 23. Coordinating people and the other resources of an organization to.
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  Personal Wellness   Angela has been working for a local small business called Personal Wellness for the last three years. It is a retail business that sells sporting goods equipment. When she started to work there, she noticed several things that were possibly the cause of the business not doing as well.
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  161. First-line managers spend most of their time working with and motivating their employees, answering questions, and solving daily problems. a. True b. False 162. Accounting and investments are specialized areas within financial management. a. True b. False 163. Financial managers create and manage the systems that convert resources into goods and services. a. True b..
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