question

Small businesses cannot be operated from an individual's home.

answer

False

question

A key element of business success is a business plan.

answer

True

question

A number of very successful high technology businesses began as small entrepreneurial ventures.

answer

True

question

Any business that is independently owned and operated can be classified as a small business.

answer

False

question

Franchisees pay the franchiser a monthly or annual fee based on a percentage of sales or profits.

answer

True

question

In recent years, small businesses generated very few new jobs in the U.S.

answer

False

question

Managerial inexperience can lead to business failure.

answer

True

question

Relatively low start-up costs are an advantage of a small business.

answer

True

question

Small businesses have a high success rate.

answer

False

question

Targeting small niches or product needs is a dangerous strategy for a small business to follow.

answer

False

question

All organizations, regardless of size, have multiple levels of management.

answer

False

question

Directing is motivating and leading employees to achieve organizational objectives.

answer

True

question

Free-rein leaders allow their employees to work without much interference.

answer

True

question

Management is a process designed to achieve an organizations objectives by using its resources effectively and efficiently in a changing environment.

answer

True

question

Management takes place only in business settings.

answer

False

question

Managers can run a business with only human and physical resources.

answer

False

question

Mangers engage in planning, organizing, staffing, directing, and controlling.

answer

True

question

Middle managers are responsible for tactical planning that will implement the general guidelines established by top management.

answer

True

question

Taking action to correct deviations from standards is part of the controlling function.

answer

True

question

The first step in good managerial decision making is developing options.

answer

False

question

A company that uses a fixed-position layout is often called a project organization because it is involved in large, complex projects.

answer

True

question

For most organizations, the ultimate goal of the transformation process is to produce outputs that are worth more than the combined costs of inputs.

answer

True

question

It is not necessary for a product to satisfy a need or a want.

answer

False

question

Managing finished products and packaging them are activities most closely associated with marketing.

answer

False

question

Operations management refers to those processes used in making both tangible and intangible products.

answer

True

question

Quality is a critical element of operations management.

answer

True

question

Service businesses cannot incorporate quality standards.

answer

False

question

Service providers are generally less labor-intensive because of the high degree of customization.

answer

False

question

Taxes are an important consideration when deciding where to locate a production facility.

answer

True

question

Variations in demand, service requirements, and the intangibility of the product make measuring productivity more difficult for manufacturers.

answer

False

question

Herzberg's motivational factors directly correspond to Maslow's physiological and security needs.

answer

False

question

Human relations is the study of individual and group behavior in organizational settings.

answer

True

question

Hygiene factors include achievement, recognition, the work itself, responsibility, and advancement.

answer

False

question

Managers who ascribe to Theory Y assume that people like and want to work and that people will seek out responsibilities if provided with the proper conditions.

answer

True

question

Morale is important to managers, although it doesn't affect profits.

answer

False

question

Positive rewards for acceptable behavior tend to be more effective in the long run than negative punishments for unacceptable behavior.

answer

True

question

The Hawthorne Studies earned their name because they were conducted by Mr. Hawthorne.

answer

False

question

The Hawthorne Studies found that money was the primary motivator of employees.

answer

False

question

The Theory Y style of management focuses on physiological and security needs.

answer

False

question

When laid off, a person's attention probably shifts from fulfilling esteem needs to fulfilling physiological and security needs.

answer

True

Business Ch. 5-9 – Flashcards

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