Exam 19: Professional Management in the Entrepreneurial Firm

The use of written policies, budgets, and job descriptions is most closely associated with which of the following stages of growth?

Because they are used and tested constantly, naturally evolving organizational structures are as nearly perfect as one can hope for.

Leadership roles differ greatly, depending on the size of the business and its _____.

Entrepreneurs who follow a win-win strategy are taking an approach that ensures that their own firm will achieve the outcomes that are best for their own firm.

If Fran Fishburn, who runs a wholesale flower business, successfully creates properly functioning self-managed teams among her employees, her supervisors

Less-than-professional management behavior on the part of an entrepreneur can

The number of employees who can be supervised effectively by a capable manager is variable, depending on a number of factors.

Entrepreneurs who are professional in their work are sometimes described as using an approach that is scientific in nature.

A budget is an example of a

Organizations that provide both space and management services to new businesses are

As a firm moves from Stage 1 to Stage 4, the pattern of entrepreneurial activities changes in that the entrepreneur becomes less of a manager and more of a doer.

Susan Keller has seen her retail shop grow to the point that she has designated supervisors for the office and two selling areas. Her shop's stage of growth is called

The early growth stages of a new business involve significantly less change than that which occurs during the growth of a relative mature business.

Although the corporate world glorifies the "dog-eat-dog" mentality, research shows that nice people make more money.

A small company's culture usually develops quickly during the early stages of its formation.

Which of the following is not a constraint on management in small firms?

The fact that the daily "brush fires" of doing business tend to push aside planning until it is forgotten is the message of

Leadership in small firms is more ____ in comparison to the leadership in large corporations.

The intermediate supervision stage of business growth is a turning point because the entrepreneur must learn to rise above direct management and work through an intermediate level of managers.

The need for effective management becomes greater as the business expands.