Business: Chapter 6 ; 7 exam – Flashcards
Unlock all answers in this set
Unlock answersquestion
process of starting, organizing, managing, and assuming responsibility is called business capitalism
answer
false
question
everyone who owns a business is an entrepreneur
answer
false
question
in US, nearly as many small businesses close as begin each year
answer
true
question
US businesses w just single owner and no staff account for over $600 bill. in annual sales
answer
true
question
all entrepreneurs opportunities emerge from inventions and innovations
answer
false
question
easier for small business to meet precise needs of customers than large business
answer
true
question
many small businesses fail simply because they're not located in right spot
answer
true
question
most important step in starting a business is preparation
answer
true
question
once business plan is written, should never be revised and should never be updated
answer
false
question
most popular use of business plans is to persuade lenders and investors to finance venture
answer
true
question
planning involves effort to direct and lead people to accomplish planned work of organization
answer
false
question
every manager gives same amount of time and attention to each management functions
answer
false
question
supervisors often have non-management duties in addition to management work
answer
true
question
work groups an ineffective way for employees to gain experience w management activities
answer
false
question
in strategic management, managers less directive and involve employees in decision-making
answer
true
question
management is ability to motivate individuals and groups to accomplish goals
answer
false
question
most effective leaders treat everyone alike
answer
false
question
influence enable person to affect actions of others
answer
true
question
almost everyone has same beliefs about what constitutes ethical behavior
answer
false
question
much more important for employees to practice ethical behavior than its for managers to practice it
answer
false
