Exam 9: The New Venture Team, Small Firm Management, and Managing Human Resources

Cynthia is given more tasks to accomplish in her administrative position.This is an example empowerment.

What should a business do to plan more effectively,especially as it begins to grow?

Which of the following is a fringe benefit?

An operations manager is describing the specific steps required to complete a manufacturing process.This is an example of creating business policies.

Richard's venture has grown so quickly he requires a full-time accountant.He makes a list of attributes that applicants should have,such as five years of experience in the industry,a professional accounting designation,and excellent communication skills.What is this list called?

A firm may receive unsolicited applications such as walk-ins from qualified and unqualified applicants.

Studies show that a poorly motivated employee in a company of five to ten people can result in 10 to 20 percent loss in productivity,severely impacting the bottom line.

What is a disadvantage of using contract employees for small businesses?

Elizabeth is a manager of a sales team.She sets the sales targets for her staff to work towards each quarter.What activity is Elizabeth engaged in?

Which of the following best describes profit-sharing plans?

Marco brings together some key employees to generate growth in a new territory.He tells them they can operate within a budget and within three months he wants to know the results.What has Marco created?

Orientation refers to instructions given during the interview with an applicant.

The possibility of being sued makes former employers reluctant to give a full and candid written report on former employees.

Discuss why new ventures started by a team of entrepreneurs are more likely to be successful than ventures started by lone entrepreneurs.

Discuss the importance of effective communication to the health of the organization.

A cafeteria plan is a fringe benefit that allows employees to receive breakfast,lunch,and snacks at the expense of the organization.

Contracting is less expensive for employers than hiring employees because the company does not have to pay benefits and it gives the company more staffing flexibility.

A small business owner wishes to persuade a highly qualified applicant (a business school graduate)to carefully consider a position with his firm,even though the applicant has also had offers from large corporations.What should the owner emphasize most?

Most operations or technically oriented people are not good at marketing or sales,and vice versa.

The concept that the boss does the thinking and the employee does the work is still the most effective way to manage a small business.