Info
Warning
Danger

Study Resources (Business Management)

9. Why is a strong corporate culture important to a company’s success? How might the corporate culture be linked to leadership style? 10. Which type of organization structure provides a firm with the most flexibility to respond to changes in the marketplace and engage in innovation? What might be the drawbacks.
1 Views
View Answer
11.A person who starts one business, runs it, and then starts another in succession is known as a ________________. 1. ________________An entrepreneur is an employee of a large organization. 2.________________Merely owning a business makes you an entrepreneur. 3.________________Managers are employees who direct the efforts of others to achieve anorganization’s goals. 4.________________The major responsibility of.
1 Views
View Answer
1.________________Management is defined as the process of achieving organizational objectives through people and other resources. 2. ________________The highest level of management requires planning and organizational skills. 3. ________________Middle management should have strong technical skills. 4. ________________Today, the essential role of a manager is simply being the boss. 5.Discuss the importance in planning, organizing, and.
0 Views
View Answer
1.________________________________ is the management function of guiding and motivating employees to accomplish the organization’s objectives. 2.________________ is the perception of marketplace needs and methods by which an organization can satisfy them. 3.________________ is the achievement of organizational objectives through people and other resources. 4.The written statement of an organization’s overall intentions and aims.
0 Views
View Answer
1.________________Benefits to buying an already existing business is that the proper licensing is already obtained and a pool of workers is already in place. 2.________________The third step in starting a new business is to create a business plan. 3.________________A successful entrepreneur always follows his or her business plan. 4.________________Buying a franchise is a.
2 Views
View Answer
21. A manager must demonstrate _____, which is the ability to direct or inspire people to attain certain goals. a. delegation b. flexibility c. commitment d. leadership 24. Autocratic leaders make decisions after consulting their employees. a. True b. False 23. _____ is centered on the boss. a. Free-rein leadership b. Democratic leadership c. Autocratic leadership d. Contingency leadership 22. Which of the.
0 Views
View Answer
1. ________________Leadership can be defined as the ability to direct or inspire others to perform the activities needed to reach an organization’s objectives. 2. ________________Although no single leadership style is better than another, a firm management might decide to change the existing leadership style over time to meet evolving company needs. 3..
0 Views
View Answer
1.________________In a recent year, roughly 565,000 new businesses were created each month in the United States. 2.________________Lifestyle entrepreneurs are drawn by the prospect of working fewer hours. 3.________________According to the U.S. Small Business Administration, most newly created jobs come from small businesses, with a significant share of those jobs coming from new.
0 Views
View Answer
1.________________An increasing number of small businesses are started by professionals andmanagers who separated from large corporations when those firms downsized. 2.________________Entrepreneurs tend to avoid using social media as a marketing tool. 3.________________Many entrepreneurs start a business because they have created something newand want to make it a market success themselves. 4.________________Classic entrepreneurs identify.
0 Views
View Answer
21. Which of these is an advantage of buying an existing business? a. Getting financing is easier. b. Employees are already in place. c. Permits and licenses have already been obtained. d. All of these answer choices are correct. 22. Which statement best defines seed capital? a. It is the funding offered by a venture capitalist.
0 Views
View Answer
Hit & Miss: GM’s First Female CEO Faces Challenges and Opportunities Mary Barra, GM’s first female CEO, knows cars. She has worked for the Detroit automaker for more than 30 years in a variety of positions. She began her GM career as an intern while in college. After graduation, Barra’s first job.
0 Views
View Answer
Case 7.2 No Workaholics Allowed at Bamboo HR Utah-based start-up BambooHR has a work culture that includes consequences for working too many hours. While some start-ups have cultures including long work hours, BambooHR, make of online human resources software, has a strict policy against it. As work-life balance remains an issue for.
0 Views
View Answer
31. The oldest and simplest organization form, in which there is a clear flow of authority from the chief executive to the subordinates, is the ________________ 32.________________ is the level of management responsible for developing the plans and procedures to implement the general plans of top management. 33.The ________________ is the set.
3 Views
View Answer
1. What makes an entrepreneur different from a small-business owner? a. The drive b. The levels of creative energy c. The desire to succeed d. The desire for business growth 2. How are entrepreneurs different from managers? a. Entrepreneurs are more risk averse than managers. b. Managers are more likely than entrepreneurs to use the resources of.
1 Views
View Answer
7. Identify each of the following as a programmed or nonprogrammed decision: a.reordering printer cartridges – b.selecting a cell phone provider – c.buying your favorite toothpaste or shampoo at the supermarket – d.selecting a college to attend – e.filling your car with gasoline – 8. From what sources might a leader.
0 Views
View Answer
11. Almost two of every five of the fastest growing small U.S. companies have international sales. a. True b. False 12. Which types of countries prove to have a lower average rate of entrepreneurship? a. Countries that compete based on natural resources c. Countries whose economies are driven by innovation b. Countries that are considered newly.
0 Views
View Answer
1.Do you believe Marissa sounds like a good candidate for becoming an entrepreneur? Explain your reasoning. 2.What advice would you give to Marissa in preparing a business plan? 3.Marissa discovers that there is a local jewelry boutique closing in her area since the manager is retiring. The manager asks if she would.
1 Views
View Answer
1. ________________Management principles are designed for for-profit firms as opposed to not-for-profit organizations. 2. ________________Organizing is the management function of motivating and leading employees. 3. ________________An organization’s planning process should reflect the competitive differentiation the firm hopes to achieve. 4. ________________Technical skills are primarily important for top management. 5. ________________An organization chart is a.
0 Views
View Answer
1._________________________ is the process of promoting innovation within an existing organization’s structure. 2.The most common type of entrepreneur, one who identifies a business opportunityand allocates available resources to tap that market, is known as a(n) ________________. 3.________________are business firms or groups of individualswho investin new and growing firms. 4.A ________________ is a person.
0 Views
View Answer
1. ________________Vision is a clear perception of marketplace needs and the methods a company will use to meet those needs. 2. ________________The firm’s mission statement rarely relies on the original vision for the firm. 3. ________________All companies, include for-profit firms and not-for-profit organizations, should develop a vision. 4. ________________Vision must be focused.
0 Views
View Answer
1. Which of the following statements is true of management? a. Management principles do not apply to not-for-profit organizations. b. Management happens only at the top management levels. c. Management is the process of achieving organizational objectives through people and other resources. d. Management is solely the process of reporting organizational successes and failures.
1 Views
View Answer
Answers to Review Questions 1. What are the three levels of management hierarchy? For each level, which management skills might be considered most important, and why? 2. Identify the four basic managerial functions. Suppose you were hired to be the manager of a local restaurant. Which managerial functions would likely be the.
0 Views
View Answer
11.________________Once you have a great idea for a new product, it is generally unnecessary to determine if there is a need or desire for that product in the marketplace. 12.________________Entrepreneurs often believe that they control their own destinies and refrain from blaming others for their hardships. 13.________________Large firms can encourage intrapreneurship by.
1 Views
View Answer
1.It is suggested that entrepreneurs are a “different breed.” Which of the following is acharacteristic of an entrepreneur? a.reliance on the way things have always been done in the past. b.a higher than average need for achievement. c.a tendency to avoid risks. d.a low tolerance for ambiguity and failure. 2.Someone who uses entrepreneurial talent while.
0 Views
View Answer
11.Planning and allocating resources for current and near-term activities required toimplement overall strategies is achieved through ________________ 12.________________ use standards or schedules for implementing tactical plans. 13 ________________ is the ability to direct and inspire people to attain organizational goals. 14.________________ is the most far-reaching level of planning and is the process of.
0 Views
View Answer
Going Green: Johnson & Johnson: Caring for the World Johnson & Johnson promises that “We must maintain in good order the property we are privileged to use, protecting the environment and natural resources.” The firm sets new long-term environmental goals every five years, under its “Healthy Planet” program. Johnson & Johnson management.
1 Views
View Answer
31. A _____ is the oldest and simplest form of organizational structure. a. matrix organization b. line organization c. line-and-staff organization d. committee organization 32. A _____ organization places authority and responsibility in the hands of a group of individuals rather than a single manager. a. line b. line-and-staff c. committee d. matrix 33. In a matrix structure, each employee.
0 Views
View Answer
21.________________ means that managers lead employees by sharing power, responsibility, and decision-making authority with them. 22.Managers who involve subordinates in decision making are using the ________________style of leadership. 23.The ________________ style of leadership means that managers allow subordinates to make most decisions. 24.When a manager makes decisions without consulting others, thestyle in use.
0 Views
View Answer
Case 7.3 Dan Formosa at the Forefront of Smart Design Smart Design was founded by a collection of college classmates who wanted to change something. Dan Formosa, along with several college friends had a background in design and ergonomics. The group believed that design should be about people, not things—and Smart Design.
1 Views
View Answer
11. Which of the following is a characteristic of strategic planning? a. It is the process of determining the primary objectives of an organization and then acting and allocating resources to achieve those objectives. c. It involves implementing the activities specified by operational plans. b. It creates the detailed standards that guide implementation.
1 Views
View Answer
11. ________________Most companies use a combination of different organizational structures. 12. ________________A line organization provides a clear chain of command. 13. ________________The committee organization often places authority and responsibility in the hands of a single manager. 14. ________________In a matrix organization, there is a rigid hierarchy of managers and workers. 15. ________________The line organization.
1 Views
View Answer
Case 7.1 Ford Drives out of the Financial Mud Recently, when the other major U.S. automakers accepted federal funds in order to stay in business, Ford Motor Company said no. Several years earlier, the firm had faced financial decisions and restructured its debt in such a way that, when the economy slowed.
0 Views
View Answer
1.Describe the growing educational opportunities for prospective entrepreneurs. 2.Describe how job security is a major driving force for those who choose to become entrepreneurs. 3.List five guidelines entrepreneurs should use when considering their initial business ideas. .
1 Views
View Answer
Case 6.3 Comet Skateboards: It’s a Smooth Ride Jason Salfi had a passion for skateboarding, but he saw a problem with the way boards were made. Part classic entrepreneur and part social entrepreneur, Salfi believed that a skateboard could be built with more environmentally sustainable processes and materials. Not only was it.
2 Views
View Answer
Hit & Miss: Hands-Off Approach Works for Buffett Warren Buffett, billionaire investor and CEO of Berkshire Hathaway, is known for his hands-off management style. Buffett prefers to give his chief lieutenants the autonomy to make decisions on their own about the companies they run—even if he doesn’t agree with them.  Buffett believes.
0 Views
View Answer