Question 1

Which of the following is an example of operational planning of a company?

Accepted Answer

A)  Formulating the mission statement 
B)  Setting the personnel policy 
C)  Selecting the type of business to enter 
D)  Determining the financial needs 
A)  Formulating the mission statement 
B)  Setting the personnel policy 
C)  Selecting the type of business to enter 
D)  Determining the financial needs

Question 2

How can strategies help a small business reach its mission?

Accepted Answer

Strategies are the means by which the mi

Question 3

Financial planning involves:

Accepted Answer

A)  estimating income and expenses. 
B)  choosing a product to sell. 
C)  selecting the type of business to enter. 
D)  deciding the market niche for the business. 
A)  estimating income and expenses. 
B)  choosing a product to sell. 
C)  selecting the type of business to enter. 
D)  deciding the market niche for the business.

Question 4

Variable expenses rise in direct proportion to increase in sales volume.

Accepted Answer

A) True 
 B)False

Question 5

_____ are general statements that serve to guide managerial decision making and supervisory activities.

Accepted Answer

A)  Methods 
B)  Policies 
C)  Budgets 
D)  Procedures 
A)  Methods 
B)  Policies 
C)  Budgets 
D)  Procedures

Question 6

If a business is to be organized and run by more than one person, preparing the business plan should be a team effort.

Accepted Answer

A) True 
 B)False

Question 7

A competitive edge is a particular characteristic that makes a firm more attractive to customers than are its rivals.

Accepted Answer

A) True 
 B)False

Question 8

The external environment of a SWOT analysis consists of:

Accepted Answer

A)  strengths and weaknesses. 
B)  threats and weaknesses. 
C)  opportunities and threats. 
D)  opportunities and strengths. 
A)  strengths and weaknesses. 
B)  threats and weaknesses. 
C)  opportunities and threats. 
D)  opportunities and strengths.

Question 9

Strategies are general statements that serve as short-term guides to managerial decision making.

Accepted Answer

A) True 
 B)False

Question 10

The external environment does not affect the operation of a small business.

Accepted Answer

A) True 
 B)False

Which of the following is an example of operational planning of a company?

How can strategies help a small business reach its mission?

Financial planning involves:

Variable expenses rise in direct proportion to increase in sales volume.

_____ are general statements that serve to guide managerial decision making and supervisory activities.

If a business is to be organized and run by more than one person, preparing the business plan should be a team effort.

A competitive edge is a particular characteristic that makes a firm more attractive to customers than are its rivals.

The external environment of a SWOT analysis consists of:

Strategies are general statements that serve as short-term guides to managerial decision making.

The external environment does not affect the operation of a small business.

Starting Your Small Business

Family-Owned Businesses

Forms of Ownership of Small Businesses

Maintaining Good Government Relations and Business Ethics

Becoming the Owner of a Small Business

How to Obtain the Right Financing for Your Business

Developing Marketing Strategies

Promoting and Distributing

How to Obtain and Manage Human Resources and Diversity in Small Companies

How to Maintain Relationships With Your Employees and Their Representatives

Obtaining and Laying Out Operating Facilities

Purchasing, Inventory, and Quality Control

Basic Financial Planning

Budgeting and Controlling Operations and Taxes

Using Computer Technology in Small Businesses

Risk Management, Insurance, and Crime Prevention

Filters

Exam 6: Planning, Organizing, and Managing a Small Business

Which of the following is an example of operational planning of a company?

How can strategies help a small business reach its mission?

Financial planning involves:

Variable expenses rise in direct proportion to increase in sales volume.

_____ are general statements that serve to guide managerial decision making and supervisory activities.

If a business is to be organized and run by more than one person, preparing the business plan should be a team effort.

A competitive edge is a particular characteristic that makes a firm more attractive to customers than are its rivals.

The external environment of a SWOT analysis consists of:

Strategies are general statements that serve as short-term guides to managerial decision making.

The external environment does not affect the operation of a small business.

Starting Your Small Business

Family-Owned Businesses

Forms of Ownership of Small Businesses

Maintaining Good Government Relations and Business Ethics

Becoming the Owner of a Small Business

How to Obtain the Right Financing for Your Business

Developing Marketing Strategies

Promoting and Distributing

How to Obtain and Manage Human Resources and Diversity in Small Companies

How to Maintain Relationships With Your Employees and Their Representatives

Obtaining and Laying Out Operating Facilities

Purchasing, Inventory, and Quality Control

Basic Financial Planning

Budgeting and Controlling Operations and Taxes

Using Computer Technology in Small Businesses

Risk Management, Insurance, and Crime Prevention

Filters