Search
Info
Warning
Danger

Study Resources (Business Management)

    11.Due to the fact that employees today often know much more about technology and the technical aspects of their jobs than their managers do, progressive managers emphasize team work and cooperation as a strategy for getting work done.    Managers of high-tech firms realize that workers often know much more about technology.
1 Views
View Answer
  313.Discuss several ways the Small Business Administration assists entrepreneurs.        Multiple Choice Questions  Mini-CasePeppy Roaney believes that pizza is a much more versatile dish than most people realize. As the national marketing manager for Pizza Guys, he observed how consumers were delighted with barbecue pizza, Hawaiian pizza, Mexican pizza and other unique combinations..
2 Views
View Answer
    81.Managers near the top of an organization have the broadest span of control.          82.The more complex the job, the narrower the span of control.          83.When employees are self-managed, a company can implement a wider span of control.          84.Improvements in information technology have permitted companies to increase their span of control.          85.A tall organization structure.
2 Views
View Answer
    151.When setting standards used in controlling, it is better to simply state general goals such as "better quality" or "higher levels of consumer satisfaction" than it is to spend a lot of time and effort developing more specific standards.    If standards are stated in very general terms, it becomes difficult to.
2 Views
View Answer
  280.Explain the differences between strategic, tactical, operational, and contingency planning.      281.What is the purpose of the SWOT analysis? What types of information does this analysis provide?            .
2 Views
View Answer
    51.Operational planning looks at the organization as a whole, while strategic planning focuses on specific departmental actions.          52.One example of tactical planning is setting annual budgets and deciding on other details and activities necessary to meet the strategic objectives.          53.Many cities and businesses are now developing contingency plans to respond to potential.
2 Views
View Answer
    111.There is no single leadership style that works best in all situations.          112.Research has shown that the democratic style of leadership is the most effective style of leadership.          113.Research on leadership supports the idea that the best leadership style depends on several factors, including the people being led and the situation.          114.The autocratic.
1 Views
View Answer
    71.Big businesses do not serve all the needs of a market.          72.Economist Bruce Kirchhoff contends that business failures are much lower than traditionally reported.          73.The most common small business failures occur in businesses that are the easiest to start.          74.Only about 10% of all businesses qualify as small businesses using the definition of.
2 Views
View Answer
    301.One reason why many U.S. small businesses are not involved in exporting is:    A.there is a limited market for their products.   B.the government's new homeland security programs limit opportunities for small businesses.   C.many of these firms do not know how to get started.   D.U.S. products are perceived as inferior.         302.The SBA's ________ program provides export.
2 Views
View Answer
    121.In traditional organizations, directing includes both giving assignments to workers and providing feedback on their performance.          122.When businesses empower their employees, the role of a manager becomes less that of a "boss" and more that of a coach, counselor, or team player.          123.Empowerment means that more authority and responsibility is given to.
1 Views
View Answer
    41.Continuous planning is not necessary, because plans that worked well in the past are likely to continue to work well in the future.          42.Planning is a continuous process.          43.The SWOT analysis helps firms identify competitive threats and market opportunities.          44.An analysis of the business environment helps managers identify threats and opportunities that face.
2 Views
View Answer
    51.State governments create new startup business organizations called enterprise zones that are later sold to private investors.    Also known as empowerment zones or enterprise communities, enterprise zones are specific geographic areas where state governments try to attract private investment by offering lower taxes for locating your business there.       52.The Connecting with Small.
2 Views
View Answer
    61.PMI is a problem solving technique that involves listing pluses, minuses and implications.          62.A mission statement should provide a detailed explanation of how a company will achieve its objectives.    A mission statement is an outline of the organization's fundamental purposes, not a detailed explanation of what is to be done and who.
2 Views
View Answer
    141.Matrix organization structures provide for more efficient use of organizational resources.          142.A recent trend in organization models is the development of cross-functional, self-managed teams of employees who work together on a long-term basis.          143.Cross-functional self-managed teams are groups of employees empowered to work with suppliers and customers to develop new products and.
2 Views
View Answer
    21.Planning is a key management function because other management functions depend on having a good plan.          22.Managers focus on making efficient use of their organization's human resources, but leave decisions about the efficient use of other resources such as buildings, machinery, and supplies to engineers and accountants.    Managers must practice the art.
2 Views
View Answer
    151.A major advantage of preparing a formal business plan is that prospective entrepreneurs must identify the resources and activities required to successfully operate their proposed venture.    Developing a business plan forces an entrepreneur to think carefully about all aspects of the business he or she intends to start.       152.Prospective entrepreneurs turned down.
2 Views
View Answer
  310.What is an entrepreneurial team? What benefits does a team offer compared to an individual entrepreneur?      311.List and discuss at least three causes of small business failure.          312.Discuss the benefits exporting offers to small businesses. Given these benefits, why don't more small firms sell in international markets?            .
2 Views
View Answer
    151.By structuring the company with cross-functional teams, there is a greater chance that a business is more responsive to social trends affecting customer preferences.    By going beyond company borders and including others on a cross-functional self-managed team, a firm can learn first-hand from suppliers and customers about market trends that affect.
2 Views
View Answer
    111.Businesses seldom create separate departments to serve customers with different needs.    Some organizations departmentalize by customer group.       112.Rise ‘n Shine Bakeries is a nationwide bakery that has plants located throughout the United States. Top management at Rise ‘n Shine believes that customers in different regions have different tastes. It also recognizes that.
1 Views
View Answer
    161.__________ is the art of utilizing organizational resources to accomplish goals at work.    A.Socialization   B.Justification   C.Preparation   D.Management         162.One of the four primary functions of management is:    A.controlling.   B.marketing.   C.financing.   D.designing.         163.The management function concerned with anticipating future trends and determining the best strategies to achieve an organization's goals and objectives is known as:    A.directing.   B.leadership.   C.planning.   D.forecasting.         164.When managers work on creating conditions and systems.
2 Views
View Answer
    91.The traditional way to departmentalize an organization is by geographical area served.          92.Departmentalization by function allows employees opportunity to further develop their skills.          93.Departmentalization by function typically increases the cost of doing business.          94.Departmentalization by function groups employees based on similar skills, expertise, or resource use.          95.An advantage of departmentalization is "groupthink".          96.Organizations that utilize.
2 Views
View Answer
    101.Staffing is less important at Sony, IBM and other high-tech firms because these firms sell technology.    At most high-tech companies, like IBM and Sony, the primary capital equipment is brainpower, so staffing is essential to obtain the best people available to accomplish these companies' objectives.       102.People who are good leaders also are.
1 Views
View Answer
    281.Entrepreneurs learn that there are many legal and financial issues involved in starting their business. The best way for the small business owner to resolve these issues and protect the firm's resources is:    A.for the owner(s) to trust his/her common sense.   B.to hire a full-time lawyer and accountant who work exclusively for.
1 Views
View Answer
    31.Micropreneurs are exempt from the local ordinances that restrict home-based businesses from operating in residential areas.          32.One advantage enjoyed by home-based businesses is the relative ease in attracting new customers.          33.Small businesses have not significantly participated in web-based online sales.          34.The Internet provides a resource for entrepreneurs for information regarding the steps needed.
2 Views
View Answer
    131.Staff personnel perform functions such as production and sales that contribute directly to the primary goals of the organization.          132.In a line-and-staff organization, staff positions are temporary jobs to train new line managers.          133.While staff personnel have the authority to make policy decisions, line personnel have the authority to advise and make.
2 Views
View Answer
    161.Whitney wants to start her own business, but she is concerned about her limited financial resources. She would be well advised to save money by delaying her meeting with lawyers and accountants until the business has been operating for a few years.    Consulting with lawyers, accountants, and loan officers may be.
2 Views
View Answer
    161.Joel, an employee of the engineering department, was temporarily assigned to work with specialists from other departments to develop a new product. Upon completion of this project, Joel returned to his position in the engineering department. This arrangement illustrates the use of a cross-functional team.    In a cross-functional team, the members.
2 Views
View Answer
    101.Departmentalizing by customer group has proven ineffective.          102.If there are several steps in getting the product to its final state, the company may choose to departmentalize by process.          103.Some companies have created hybrid versions of departmentalization, where they combine two or more traditional ways of departmentalizing.          104.When management structures the organization, it clarifies.
1 Views
View Answer
    121.Jackie works in the finance department, at the home office of a large retailer. Her main responsibility is to watch department expenditures and find ways to cut costs whenever possible. Tim, the marketing director for the same company shares information with Jackie only when necessary. He finds her inflexible, and.
1 Views
View Answer
    141.Many small business owners report that they needed assistance with accounting when they first started businesses.          142.Commercial loan officers and insurance agents offer expert assistance that can be valuable to small business owners.          143.One way to control the legal costs associated with operating a small business is to purchase a prepaid legal.
2 Views
View Answer
    31.A vision is a detailed set of specific steps that a firm must take to achieve its short-run objectives.          32.A statement about why an organization exists and what it is trying to achieve is called the organization's directive.          33.A vision is the overall explanation of why an organization exists and where it.
2 Views
View Answer
    71.After management has created a plan of action, the focus turns to the controlling function to recheck and often redo the plan.          72.Organizing involves allocating resources, assigning tasks, and establishing procedures for accomplishing the organizational objectives.          73.The visual illustration of the relationships among the people within an organization that shows who is.
2 Views
View Answer
    11.If you have managerial skills and leadership ability, you also posses the personality to be an entrepreneur.          12.Because of the stress of being in business for yourself, it's important that entrepreneurs have people around them to help replenish their enthusiasm.          13.Successful entrepreneurs rely on others for direction and support.          14.Successful entrepreneurs accept the.
1 Views
View Answer
    121.State and local governments often act as venture capitalists.          122.While the Small Business Administration provides management advice to new business owners, it is not empowered to provide financial assistance.          123.Venture capitalists provide funds for small businesses as part of their philanthropy programs.          124.Venture capitalists prefer investing in smaller start up businesses in order.
1 Views
View Answer
    81.In this day of rapidly changing technology, technical skills are the most important skills for all levels of management.          82.Conceptual skills refer to the ability of a manager to perform the tasks associated with a specific discipline or department.          83.First-line managers typically spend less time on conceptual tasks and more time on.
2 Views
View Answer
    131.Brett heads a department in a major manufacturing corporation. He strives to maintain a free-rein approach to leadership in most situations. Recently, Brett's company lost a major contract that it needs to continue the current level of operation. The company needs to take quick action to adjust, including slashing expenses..
2 Views
View Answer
    61.When Kelsey began the Cookie Kitchen, she located the operation at a small business center to get help with accounting, legal advice, and secretarial help for a very low cost. Electing to join the incubator helped her company to survive because it provided assistance while her company was in its.
2 Views
View Answer
    True / False Questions   1.Organizing the structure of the company means deciding how many jobs need to be done and who is responsible for doing them.          2.In a capitalist economy, organizations seldom reorganize due to changing markets.          3.One key to organizational success is to go back to basic principles and build the.
5 Views
View Answer
    171.Which of the following activities would be a part of the leading function of management?    A.Devising a new strategic plan to enter a new foreign market currently dominated by a competing firm.   B.Recruiting qualified workers to join the organization and assigning them to their proper position.   C.Examining a financial report to see whether.
1 Views
View Answer
    171.From a competitive standpoint, small businesses cannot expect to successfully compete with large corporations in international markets.    Small businesses have certain advantages over larger rivals in international markets. Overseas buyers often prefer to deal with individuals rather than corporate bureaucracies. Moreover, small businesses can often begin shipping faster and offer more.
2 Views
View Answer
    21.Successful entrepreneurs often make use of professional managers to introduce new ideas.          22.Micropreneurs is a term used to describe entrepreneurs who focus on the continued growth of their businesses.          23.The most important difference between entrepreneurs and micropreneurs is the focus placed by micropreneurs on balancing the demands of work and family.          24.The primary.
2 Views
View Answer
    171.A virtual corporation refers to a permanent network of firms linked by high-tech communication systems.          172.A virtual corporation is a networked organization made up of replaceable firms that join the network and leave it as needed.          173.Benchmarking requires organizations to compare each organizational function against the best in the world.          174.Competitive benchmarking rates.
1 Views
View Answer
    91.Staffing is a less important management function today than in the past.          92.Organizing involves developing a structure or framework that relates all workers, tasks and resources to each other.    Operationally, organizing means allocating resources, assigning tasks, and establishing procedures for accomplishing the organizational objectives.       93.Top management is also known as first-line management because.
2 Views
View Answer
    141.If managers do a good job planning and organizing, there shouldn't be a need for them to be involved with controlling.          142.Two of the key components of the control process are setting clear performance standards and communicating results and deviations to the employees involved.          143.The first step in the controlling process is.
2 Views
View Answer
    True / False Questions  1.The main job of managers today is to watch over people to be sure they do what the manager asks of them.          2.The best way to get people to do what a manager wants is for the manager to reprimand those who don't do things correctly.          3.Managers in progressive.
5 Views
View Answer
  284.Describe three different leadership styles and give an example of a situation in which each style could be most used effectively.          Multiple Choice Questions  Mini-CaseLauzy Fare left his position as senior vice president at Blue Skies Electronics a few weeks ago to become the new CEO of Idle Time Gaming. Before joining.
2 Views
View Answer
    41.The U.S. government offers "investor visas" to attract more entrepreneurs.          42.The position of our government is to restrict foreign entrepreneurs from operating within the U.S.          43.Business incubators provide assistance to established companies attempting to generate foreign sales.          44.A National Business Incubator Association study indicates that over 80 percent of incubator graduates remain in.
2 Views
View Answer
    131.Success in running a business depends on knowing your customers, managing your employees, and keeping efficient records.          132.In the business world, a market consists of those people who have a willingness to buy a particular product.          133.One of the greatest advantages that small businesses have over larger ones is the ability to.
2 Views
View Answer