Exam 19: Professional Management in the Entrepreneurial Firm

Which of the following would least concern a corporate manager considering joining a small firm?

Discuss the topic of delegation of authority in small business. Include in your discussion a definition of the term, manifestations of weakness in delegation, and benefits to be realized.

You Make the Call-Situation 2 A few years after successfully launching a new business, an entrepreneur found himself spending 16-hour days running from one appointment to another, negotiating with customers, drumming up new business, signing checks, and checking up as much as possible on his six employees. The founder realized that his own strength was in selling, but general managerial responsibilities were very time consuming and interfered with his sales efforts. He even slept in the office two nights a week. Despite his hard work, however, he knew that employees weren't organized and that many problems existed. He lacked the time to set personnel policies or to draw up job descriptions for his six employees. One employee even took advantage of the laxity in supervision to skip work sometimes. Invoices were sent to customers late, and delivery schedules were sometimes missed. Fortunately, the business was profitable in spite of the numerous problems.

Small business service organizations that are patterned after the Agricultural Extension Service and are affiliated with universities are

A busy owner-manager is trying to cope with the problem of excessive time pressure that requires her to work 60 to 70 hours per week. She should realize that this work schedule is

Individuals who are launching promising startups need to have a "tolerance for ambiguity".

In a line-and-staff organization, which of the following is a line activity?

The first step in planning and improving one's use of time should be

An effective communication tool in small business is a suggestion box to submit employees' ideas.

The most effective communication in a small business occurs when managers give orders and employees simply carry them out.

The greatest time saver is the effective use of time.

Although management consultants can be helpful to business performance, they do not serve small businesses.

Top-level executives in a large corporation have a distinct advantage over the leader of a small business in exerting their influence.

In a line-and-staff organization, which of the following is a staff activity?

SCORE refers to

Barry Ramirez demands that his employees immediately comply with his orders. His leadership style is typical of ____ leaders.

Many owner-managers work from 60 to 80 hours a week.

Linda Semmes sets high standards and expects excellence from her employees. Her leadership style is typical of ____ leaders.

An informal group can help or hinder the proper functioning of a business organization, even in a small firm.