Question 1

Work teams require a lower level of participation of employees than empowerment.

Accepted Answer

A) True 
 B)False

Question 2

Match the term with its definition. Some terms may not be used.
-The process of developing workable solutions through discussions or interactions

Accepted Answer

A) Line organization 
B) Line-and-staff organization 
C) Negotiation 
D) Networking 
E) Professional manager
F)Service Corps of Retired Executives
G)Small business development centers
H)Span of control 
A) Line organization 
B) Line-and-staff organization 
C) Negotiation 
D) Networking 
E) Professional manager
F)Service Corps of Retired Executives
G)Small business development centers
H)Span of control

Question 3

If Elizabeth, who just hired her first employee, desires to create an innovative cultural environment within the business, what should she do?

Accepted Answer

A)  Support experimentation while eliminating unnecessary penalties for failure 
B)  Maintain tight control of all aspects of the business. 
C)  Reject employee ideas. 
D)  Treat all employees the same. 
A)  Support experimentation while eliminating unnecessary penalties for failure 
B)  Maintain tight control of all aspects of the business. 
C)  Reject employee ideas. 
D)  Treat all employees the same.

Question 4

Preparing a daily written plan of activities is useful in deciding which tasks deserve highest priority.

Accepted Answer

A) True 
 B)False

Question 5

As a firm grows, the small business owner needs to fill key positions with persons who

Accepted Answer

A)  could be future managers. 
B)  can complement weaker areas of the entrepreneur. 
C)  are able to survive in the culture. 
D)  All of the above are true. 
A)  could be future managers. 
B)  can complement weaker areas of the entrepreneur. 
C)  are able to survive in the culture. 
D)  All of the above are true.

Question 6

Entrepreneurs who follow a win-win negotiating strategy seek a solution that will satisfy at least the basic interests of both parties.

Accepted Answer

A) True 
 B)False

Question 7

Small business service organizations that are patterned after the Agricultural Extension Service are known as

Accepted Answer

A)  student consulting team programs. 
B)  Small Business Development Centers. 
C)  business incubators. 
D)  SCORE. 
A)  student consulting team programs. 
B)  Small Business Development Centers. 
C)  business incubators. 
D)  SCORE.

Question 8

Discuss the use of employee empowerment and self-managed work teams in relation to how leaders shape an innovative organizational culture.

Accepted Answer

Through empowerment, a manager gives emp

Question 9

Andrea designed a new household cleaning product that can be used on any surface, is environmentally friendly and performs better than other current products. As the company grew, she added employees to produce the cleaner. Recently a grocery store chain asked to sell the cleaner in a regional area. Should she continue as the CEO? At what level is the company in its development? What factors should Andrea consider as the company continues to grow?

Accepted Answer

The company is currently at a turning po

Question 10

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

Accepted Answer

A)  haphazard 
B)  impersonal 
C)  personalized 
D)  skillful 
A)  haphazard 
B)  impersonal 
C)  personalized 
D)  skillful

Question 11

Susan 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

Accepted Answer

A)  formal organization. 
B)  intermediate supervision. 
C)  one-person operation. 
D)  player-coach. 
A)  formal organization. 
B)  intermediate supervision. 
C)  one-person operation. 
D)  player-coach.

Question 12

Which time management suggestion would be the most critical for a small business owner?

Accepted Answer

A)  Set aside time to work undisturbed. 
B)  Have a daily written plan and highlight priorities. 
C)  E-mail, cell phones and the Internet should be used to save time, not be a distraction. 
D)  Complete trivial tasks first to have something completed. 
A)  Set aside time to work undisturbed. 
B)  Have a daily written plan and highlight priorities. 
C)  E-mail, cell phones and the Internet should be used to save time, not be a distraction. 
D)  Complete trivial tasks first to have something completed.

Question 13

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

Accepted Answer

A)  Formal organization 
B)  Intermediate supervision 
C)  One-person operation 
D)  Player-coach 
A)  Formal organization 
B)  Intermediate supervision 
C)  One-person operation 
D)  Player-coach

Question 14

After identifying organizational structures of small businesses, explain how changing structures over time impact managerial responsibilities.

Accepted Answer

In a very small company, an unplanned st

Question 15

Kathleen believes she could be more efficient in the use of her time. To determine where improvements can be made, Kathleen should first:

Accepted Answer

A)  list long term objectives. 
B)  record time spent on various activities during the day. 
C)  list projects that need attention. 
D)  assign priorities to unfinished tasks. 
A)  list long term objectives. 
B)  record time spent on various activities during the day. 
C)  list projects that need attention. 
D)  assign priorities to unfinished tasks.

Question 16

LaToya, as the owner of a minority firm, should look to which organization first for assistance?

Accepted Answer

A)  SBDC 
B)  SCORE 
C)  sponsorship of student consulting team projects 
D)  virtual incubators 
A)  SBDC 
B)  SCORE 
C)  sponsorship of student consulting team projects 
D)  virtual incubators

Question 17

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

Accepted Answer

A)  stage of development. 
B)  product and service offerings. 
C)  marketing efforts. 
D)  industry in which the company operates. 
A)  stage of development. 
B)  product and service offerings. 
C)  marketing efforts. 
D)  industry in which the company operates.

Question 18

Match the term with its definition. Some terms may not be used.
-A plan that governs a firm's operations for one year or less

Accepted Answer

A) Budget 
B) Chain of command 
C) Delegation of authority 
D) Empowerment 
E) Long-range plan
F)Professional manager
G)Self-managed work teams
H)Short-range plan 
A) Budget 
B) Chain of command 
C) Delegation of authority 
D) Empowerment 
E) Long-range plan
F)Professional manager
G)Self-managed work teams
H)Short-range plan

Question 19

Match the term with its definition. Some terms may not be used.
-A manager who uses systematic, analytical methods of management

Accepted Answer

A) Line organization 
B) Line-and-staff organization 
C) Negotiation 
D) Networking 
E) Professional manager
F)Service Corps of Retired Executives
G)Small business development centers
H)Span of control 
A) Line organization 
B) Line-and-staff organization 
C) Negotiation 
D) Networking 
E) Professional manager
F)Service Corps of Retired Executives
G)Small business development centers
H)Span of control

Question 20

A monthly production schedule is prepared as part of the

Accepted Answer

A)  operational plan. 
B)  short-range plan. 
C)  strategic plan. 
D)  tactical plan. 
A)  operational plan. 
B)  short-range plan. 
C)  strategic plan. 
D)  tactical plan.

Exam 19: Professional Management and the Small Business

Work teams require a lower level of participation of employees than empowerment.

Match the term with its definition. Some terms may not be used. -The process of developing workable solutions through discussions or interactions

If Elizabeth, who just hired her first employee, desires to create an innovative cultural environment within the business, what should she do?

Preparing a daily written plan of activities is useful in deciding which tasks deserve highest priority.

As a firm grows, the small business owner needs to fill key positions with persons who

Entrepreneurs who follow a win-win negotiating strategy seek a solution that will satisfy at least the basic interests of both parties.

Small business service organizations that are patterned after the Agricultural Extension Service are known as

Discuss the use of employee empowerment and self-managed work teams in relation to how leaders shape an innovative organizational culture.

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

Susan 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

Which time management suggestion would be the most critical for a small business owner?

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

After identifying organizational structures of small businesses, explain how changing structures over time impact managerial responsibilities.

Kathleen believes she could be more efficient in the use of her time. To determine where improvements can be made, Kathleen should first:

LaToya, as the owner of a minority firm, should look to which organization first for assistance?

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

Match the term with its definition. Some terms may not be used. -A plan that governs a firm's operations for one year or less

Match the term with its definition. Some terms may not be used. -A manager who uses systematic, analytical methods of management

A monthly production schedule is prepared as part of the

The Entrepreneurial Life

Integrity and Ethics: Foundations for Success in Small Business

Starting a Small Business

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Building Customer Relationships

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Business

Managing Human Resources

Managing Operations

Managing the Firms Assets

Managing Risk in the Small Business

A: Managing Risk in the Small Business

Filters