Business Ch. 5-9 – Flashcards

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Small businesses cannot be operated from an individual's home.
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False
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A key element of business success is a business plan.
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True
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A number of very successful high technology businesses began as small entrepreneurial ventures.
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True
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Any business that is independently owned and operated can be classified as a small business.
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False
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Franchisees pay the franchiser a monthly or annual fee based on a percentage of sales or profits.
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True
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In recent years, small businesses generated very few new jobs in the U.S.
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False
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Managerial inexperience can lead to business failure.
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True
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Relatively low start-up costs are an advantage of a small business.
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True
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Small businesses have a high success rate.
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False
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Targeting small niches or product needs is a dangerous strategy for a small business to follow.
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False
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All organizations, regardless of size, have multiple levels of management.
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False
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Directing is motivating and leading employees to achieve organizational objectives.
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True
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Free-rein leaders allow their employees to work without much interference.
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True
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Management is a process designed to achieve an organizations objectives by using its resources effectively and efficiently in a changing environment.
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True
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Management takes place only in business settings.
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False
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Managers can run a business with only human and physical resources.
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False
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Mangers engage in planning, organizing, staffing, directing, and controlling.
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True
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Middle managers are responsible for tactical planning that will implement the general guidelines established by top management.
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True
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Taking action to correct deviations from standards is part of the controlling function.
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True
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The first step in good managerial decision making is developing options.
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False
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A company that uses a fixed-position layout is often called a project organization because it is involved in large, complex projects.
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True
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For most organizations, the ultimate goal of the transformation process is to produce outputs that are worth more than the combined costs of inputs.
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True
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It is not necessary for a product to satisfy a need or a want.
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False
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Managing finished products and packaging them are activities most closely associated with marketing.
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False
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Operations management refers to those processes used in making both tangible and intangible products.
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True
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Quality is a critical element of operations management.
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True
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Service businesses cannot incorporate quality standards.
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False
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Service providers are generally less labor-intensive because of the high degree of customization.
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False
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Taxes are an important consideration when deciding where to locate a production facility.
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True
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Variations in demand, service requirements, and the intangibility of the product make measuring productivity more difficult for manufacturers.
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False
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Herzberg's motivational factors directly correspond to Maslow's physiological and security needs.
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False
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Human relations is the study of individual and group behavior in organizational settings.
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True
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Hygiene factors include achievement, recognition, the work itself, responsibility, and advancement.
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False
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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.
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True
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Morale is important to managers, although it doesn't affect profits.
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False
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Positive rewards for acceptable behavior tend to be more effective in the long run than negative punishments for unacceptable behavior.
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True
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The Hawthorne Studies earned their name because they were conducted by Mr. Hawthorne.
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False
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The Hawthorne Studies found that money was the primary motivator of employees.
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False
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The Theory Y style of management focuses on physiological and security needs.
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False
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When laid off, a person's attention probably shifts from fulfilling esteem needs to fulfilling physiological and security needs.
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True
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