question

It is difficult to define small bussiness because smallness is relative

answer

True

question

Relatively low start up costs is an advantage of a small business

answer

True

question

The entrepreneurship movement is declining because of technological advances

answer

False

question

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

answer

True

question

BLANK has helped small businesses compete with larger businesses

answer

Technology

question

Your textbook uses the term small business to refer to an owner managed business that employs not more than

answer

500 people

question

Which of the following is an advantage of a small business

answer

Greater Flexibility of change

question

Which of the following fields are most attractive to small businesses?

answer

Retailing and wholesaling, services, manufacturing, and high technology.

question

In the context of starting a new business, a retailer differs from a manufacturer in that the retailer is less likely to make a heavy investment in

answer

equipment and distribution systems

question

The BLANK sector accounts for the majority of jobs in the

answer

US service

question

One of the major reasons people want to own and operate their own business is to

answer

Be their own boss

question

A small businesses ability to focus on narrow niches can help it develop

answer

Enviable reputations for quality and services

question

Which of the following is an advantage of a small business ownership

answer

Lower cost of formation

question

Which of the following isnt an advantage of a small business ownership

answer

Low failure rate

question

One advantage that small businesses have other large businesses is that they

answer

are better able to focus on a few key customers

question

When market conditions change rapidly, a small business usually has fewer layers of management to work through in making decisions. this advantage of a small business is

answer

flexibility

question

The lack of funds to operate a business normally is called

answer

undercapitalization

question

Many financial institutions decide whether to loan a small business money based on its

answer

business plan

question

Which of the followng is not a source of equity financing

answer

...

question

A mortgage is an example of

answer

Debt financing

question

A license to sell anothers product or to use anothers name in business

answer

franchises

question

persons of organizations that agree to provide some funds for a business in exchange for ownership, interest or stock are called

answer

venture capitalists

question

which industries will likely to continue to grow as baby boomer age

answer

Travel, financial plans, and health care

question

individuals who champion the development of innovations of any kind within lager organizations are called

answer

intrapeneur

question

managers can run a business with only human and physical resources

answer

False

question

The decision to introduce new products in order to reach objectives is often key management duty

answer

True

question

Planning involves forecasting events and determining the best course of action from a set of options or choices

answer

True

question

Staffing is the structure of resources and activities to accomplish goals in a effective and efficient manner

answer

False

question

an important part of good directing is administering awards and recognition

answer

true

question

Middle managers are responsible for tactical planning

answer

True

question

All managers perform all five management functions but not to the same degree

answer

true

question

although managers may not actually perform specific jobs in organizations they need technical expertise required to perform jobs related to their area of management in order to train employees and answer questions

answer

True

question

In the analyzing options stage managers should consider the practicality and appropriateness of each option

answer

true

question

when making a decision; selecting the best option is often an objective procedure

answer

false

question

if a manager is concerned about doing the work with the least cost and wast then her primary managerial concern is

answer

efficiency

question

when providing benefits, a manager is most closely involved with which of the following resources?

answer

Human

question

Organizations must have adequate supplies of all types of BLANK and coordinate their use carefully to achieve their objective

answer

Resources

question

Crisis management plans generally cover maintaining business operations during a crisis and BLANK

answer

communicating with others about the situation

question

dividing work into small units and assigning it to individuals are tasks related to

answer

organizing

question

Maria and Harold just finished interviewing four candidates who want to work for Jackson Office Inc. They are involved in which of the following management functions?

answer

Staffing

question

A person in charge of designing product facilities, purchasing supplies, and ensuring that products meet quality standards is probably a ________.

answer

Production and operation manager

question

The development of a performance-appraisal system is primarily the concern of _______.

answer

Human Resources management

question

Which of the following is best used when employees know the organization standards and are highly motivated to attain them?

answer

Free-rein

question

Having good human relation skills means:

answer

Work with others

question

A(n) ________ leadership style is the best for stimulating unskilled or unmotivated employees.

answer

Autocratic

question

Effective implementation of a major decision requires __________.

answer

Planning

question

Selecting the best option in the decision-making process is ________.

answer

Often Subjective

question

When analyzing options in the decision-making process, managers must consider the appropriateness and _______ of each option.

answer

Practicality

question

Organizational structures are always explicitly defined.

answer

False

question

An organizations structure develops of managers assign tasks to work groups and specific individuals and coordinate diverse activities required to attain organizational objectives.

answer

True

question

The more complex organizations become, the more they need to develop formal structures to efficiently.

answer

True

question

An advantage of functional departmentalization is that managers need only skills that apply to their position.

answer

True

question

In decentralized organizations, lower level mangers have a good understanding of their external environment and need to react quickly to it.

answer

True

question

A company with many layers is considered tall.

answer

True

question

Matrix structure are often complex and expensive and can lead to confusion regularly who has the ultimate authority.

answer

True

question

All groups are team but not all teams are groups.

answer

False

question

Horizontal communication involves the traditional flow of information from upper organizational levels downward.

answer

False

question

Communication flows within an organization are always formal.

answer

False

question

Organizational structure is defined as:

answer

The arrangement or relationship of positions within an organization

question

When managers assign work activities to groups and:

answer

structure individuals and coordinate the diverse activities required to attain organizational objectives.

question

Organizational cultures that lack positive values may result in:

answer

unproductive and indifferent employees

question

The benefits of division of labor were described in The Wealth of Nations by:

answer

Adam Smith

question

Adam Smith illustrated improvements in efficiency through the application

answer

Specialization

question

Many experts believe people can perform most efficiently if they master one task rather than all tasks. A famous book that supports this point is:

answer

The Wealth of Nations

question

A company that has departments for marketing, finance, personnel, and production is organized by:

answer

Function

question

Joe is a copywriter in his company's marketing department. The copy for an ad was misspelled and placed in Times Magazine. Who would be to blame?

answer

The marketing vice president

question

When the decisions of a company are very risky and low-level managers lack decision-making skills the company will tend to:

answer

Centralize

question

One of the things to consider when determining the appropriate span of management is:

answer

physical distances between subordinate supervisor and subordinate competence

question

An advantage of line structure in organizations is:

answer

A clear chain of command

question

Which of the following organizations form is most likely to be complex and expensive?

answer

Matrix Structure

question

Teams:

answer

share leadership and create collective work products

question

Downward communication conveys:

answer

explanations of decisions and orders

question

Upward communication conveys:

answer

progress reports and complaints

question

The transformation process occurs online in companies that manufacture tangible goods.

answer

False

question

Outputs include labor, materials, energy and money.

answer

False

question

The transformation process is at the heart of the operations management.

answer

True

question

In non-profit organizations like Habit for Humanity, inputs such as money, materials, information and volunteer time and labor are used to transfer raw materials into homes.

answer

True

question

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

answer

False

question

Consumer needs and wants often dictate a production process.

answer

True

question

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

answer

True

question

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

answer

False

question

The majority of companies purchase all materials needed to make their finished products.

answer

False

question

Service businesses cannot incorporate quality services.

answer

False

question

An employee is associated with producing goods, services, and ideas that satisfy needs of customers. She works most closely with:

answer

Operation

question

The transformation process is:

answer

The conversion of human....

question

For most organizations the ultimate objective is for produced outputs to be

answer

Worth more than the costs of the inputs

question

The nature of the service providers product requires:

answer

High degree of customer contact

question

Actual performance of the service providers product typically occurs:

answer

At the point of consumption

question

Compared to service providers, manufacturers generally:

answer

Are more capital-intensive

question

A company that manufactures large products such as houses or bridges, or malls require all resources to be brought to a central location during production:

answer

Fixed-position layout

question

A metal fabrication plant with a cutting department and drilling department is:

answer

Process layout

question

All activities involve in obtaining and managing raw materials, component parts, managing finished products, packaging them and getting them to the customer are part of:

answer

Supply chain management

question

Materials that have been purchased to be used in making other products are included in:

answer

Raw material inventory

question

A model that identifies the optimum number of items to minimize the costs of managing them is called:

answer

The economic order quantity model

question

Minimizing inventory by providing an almost continuous flow of items from suppliers to the production facility is:

answer

Just In Time model

question

When managing quality in manufacturing when is sampling likely to be used?

answer

When inspection tests are destructive.

question

Quality:

answer

is a critical element of operations management

question

______________ is a philosophy that uniform commitment to qualify in all areas of an organization will promote a culture that meets customers perceptions of quality.

answer

Total quality management

question

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

answer

False

question

Early management theorists thought money was employee's primary motivation.

answer

True

question

The Hawthorne studies found money was the primary motivator of employees.

answer

False

question

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

answer

True

question

The higher level goals in Maslow's hierarchy and the motivational factors identified by Herzberg are important in motivating employees to work harder.

answer

True

question

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

answer

True

question

Managers without SOMETHING 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

Theory Z is more participative and encourages lifelong employee commitment more than traditional management approaches.

answer

True

question

Equity theory relates a person's willingness to contribute to the organization to the perceived fairness of the rewards received.

answer

True

question

Human relations is important in business primarily because:

answer

It affects worker morale and productivity

question

Poor morale is likely to cause:

answer

Absenteeism and high turnover

question

Fredrick Taylor:

answer

Analyzed jobs to improve efficiently

question

While trying to determine the effects of lighting and noise on worker's productivity, which of the following found that social and psychological factors could significantly affect productivity:

answer

Elton Mayo

question

The Hawthorne studies were important because they introduced the idea that social and psychological factors affect:

answer

Productivity and morale

question

What did Hawthorne's study reveal?

answer

That managers who understand the needs, beliefs and expectations of people will have the greatest success motivating employees

question

In the U.S. workers'________________needs as defined by Maslow.....

answer

Psycological and security

question

Maslow's hierarchy classifies needs that motivate people in which order, starting from the most basic:

answer

Psychological, security, social, esteem, self-actualization

question

According to Maslow, an employee who goes to night school to get a college degree to minimize the chance of being layed off is motivated by:

answer

Security

question

If a store contest promises that the employee with the highest sales will be treated to dinner by the store manager, the store is helping its employees fulfill which is the following need?

answer

Esteem

question

Maslow's hierarchy is important to managers because workers wont be motivated to contribute to the organization's goals

answer

Until their basic needs are met.

question

Theories X and Y are most closely associated with:

answer

Douglas McGregor

question

The approach which suggests that imagination, ingenuity, and creativity can help solve organizational problems:

answer

Theory Y

question

Theory Z includes many elements associated with the _______ approach to management:

answer

Japanese

question

Jane learned that, although she and Jane were both......

answer

Equity theory

question

TNT incorporated recently implemented a participative management....

answer

Job enrichment

question

The planning function of human resources management includes determining the status of current personnel when planning her needs for the future.

answer

True

question

Testing is a mean of eliminating those who do not meet the job specifications.

answer

True

question

It is not necessary to verify an applicant's references because most applicants tell the truth on applications and resumes.

answer

False

question

Training is a vital function of operations management.

answer

False

question

On a performance appraisal, an objective assessment is quantifiable and must take into account the work environment.

answer

True

question

Managers must take time to warn employees when their performance is unacceptable.

answer

True

question

Employees who are dissatisfied with their working conditions or compensation have to negotiate with a labor union to bring about change.

answer

False

question

Givebacks are concessions made by management to keep workers working.

answer

False

question

Picketing is a public protest against management practices.

answer

True

question

One of the benefits of diversity in the workforce is the ability to better serve the needs of a culturally diverse customer base.

answer

True

question

A human resources manager deciding how many positions an organization will need is engaging in which of the following:

answer

Planning

question

Internal recruiting has advantages over external sources, one of which is:

answer

Improved morale

question

Professionals who specialize in luring qualified people away from other companies:

answer

Headhunters

question

Following the interview, the next stage of the employee selection process usually involves:

answer

Testing

question

Managers involved in checking on applicant's references should be aware that an applicant's former employer will likely confirm only that the individual did indeed work there, but not provide any information about the applicant's:

answer

Quality of work

question

16. Vikram, a Ph.D. has worked in the Monsanto research lab as a chemist for several years. He is currently participating in a series of management seminars at company expense. This is an example of:

answer

Development

question

To avoid legal problems, before firing an employee companies should ensure that:

answer

They have documented all problems and warning in the employee's work records

question

Human resources department strive to:

answer

Minimize losses due to separations and transfers

question

To motivate employees such as care sales persons to sell as much as they can, they are paid:

answer

Commissions

question

The general manager at the Target store is probably paid by:

answer

A salary

question

An employee stock ownership plan is:

answer

Profit Sharing

question

If the negotiations between union and management representatives come to a standstill and a third part is brought in to make suggestions or prose solutions to help resolve the impasse, then the third party would likely to be a:

answer

Conciliator

question

Which of the following is not a secondary characteristic of diversity?

answer

Gender

question

Age, gender, and race are ____________ characteristics of diversity.

answer

Primary

question

Having a diverse workforce has many benefits. One benefit is:

answer

A greater ability to serve the needs of s diverse customer base

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