Question 1

SBDCs are affiliated with colleges and universities and provide counseling solely through a group of retired executives.

Accepted Answer

A) True 
 B)False  True

Question 2

The consulting resources of universities are made available to small business firms by

Accepted Answer

A) student consulting team programs. 
B) SCORE. 
C) business incubators. 
D) management consultants. 
A) student consulting team programs. 
B) SCORE. 
C) business incubators. 
D) management consultants. A

Question 3

Budgets are usually prepared for five years in advance using quarterly figures.

Accepted Answer

A) True 
 B)False  False

Question 4

Company planning helps clarify issues and how these issues can be faced,provides focus,and increases credibility with outsiders.

Accepted Answer

A) True 
 B)False

Question 5

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 6

A consultant beginning to ask employees for their marketing ideas illustrates empowerment.

Accepted Answer

A) True 
 B)False

Question 7

For small businesses,the most likely form of organizational structure is

Accepted Answer

A) functional. 
B) line. 
C) line-and-staff. 
D) committee. 
A) functional. 
B) line. 
C) line-and-staff. 
D) committee.

Question 8

Someone with a charismatic personality will make a more effective leader.

Accepted Answer

A) True 
 B)False

Question 9

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 10

The owner of a rapidly growing small business needs to talk to a lender for additional financing.Which document would increase the company's credibility?

Accepted Answer

A) control standards 
B) human resource guidelines 
C) strategic plan 
D) All of the above would be needed. 
A) control standards 
B) human resource guidelines 
C) strategic plan 
D) All of the above would be needed.

Question 11

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 12

Stage 3 in the growth of a business is characterized by

Accepted Answer

A) a one-person operation. 
B) hands-off management practices. 
C) multi-layered organization. 
D) the entrepreneur as a player-coach. 
A) a one-person operation. 
B) hands-off management practices. 
C) multi-layered organization. 
D) the entrepreneur as a player-coach.

Question 13

Small firms that hesitate to acquire professional management often limit growth.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

The answer of Match the term with its definition.Some terms...

Question 15

Workers who act on their own and to make decisions about the processes they're involved with are considered to be

Accepted Answer

A) "beginning" or nascent managers. 
B) empowered employees. 
C) policy-capable subordinates. 
D) work-team ready. 
A) "beginning" or nascent managers. 
B) empowered employees. 
C) policy-capable subordinates. 
D) work-team ready.

Question 16

Match the term with its definition.Some terms may not be used.
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 simple organizational structure in which each person reports to one supervisor

Accepted Answer

The answer of Match the term with its definition.Some terms...

Question 17

Match the term with its definition.Some terms may not be used.
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
-The number of employees who are supervised by one manager

Accepted Answer

The answer of Match the term with its definition.Some terms...

Question 18

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 str

Question 19

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 20

Kathleen believes she could be more efficient inthe use of her time.To determine where improvemenst 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.

SBDCs are affiliated with colleges and universities and provide counseling solely through a group of retired executives.

The consulting resources of universities are made available to small business firms by

Budgets are usually prepared for five years in advance using quarterly figures.

Company planning helps clarify issues and how these issues can be faced,provides focus,and increases credibility with outsiders.

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

A consultant beginning to ask employees for their marketing ideas illustrates empowerment.

For small businesses,the most likely form of organizational structure is

Someone with a charismatic personality will make a more effective leader.

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

The owner of a rapidly growing small business needs to talk to a lender for additional financing.Which document would increase the company's credibility?

Stage 3 in the growth of a business is characterized by

Small firms that hesitate to acquire professional management often limit growth.

Workers who act on their own and to make decisions about the processes they're involved with are considered to be

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

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

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

The Entrepreneurial Lifethe Entrepreneurial Life

Integrity, ethics, and Social Entrepreneurship

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 Small Business Operations

Managing the Firms Assets

Managing Risk

Filters

Exam 19: Professional Management and the Small Business

SBDCs are affiliated with colleges and universities and provide counseling solely through a group of retired executives.

The consulting resources of universities are made available to small business firms by

Budgets are usually prepared for five years in advance using quarterly figures.

Company planning helps clarify issues and how these issues can be faced,provides focus,and increases credibility with outsiders.

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

A consultant beginning to ask employees for their marketing ideas illustrates empowerment.

For small businesses,the most likely form of organizational structure is

Someone with a charismatic personality will make a more effective leader.

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

The owner of a rapidly growing small business needs to talk to a lender for additional financing.Which document would increase the company's credibility?

Stage 3 in the growth of a business is characterized by

Small firms that hesitate to acquire professional management often limit growth.

Workers who act on their own and to make decisions about the processes they're involved with are considered to be

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

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

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

The Entrepreneurial Lifethe Entrepreneurial Life

Integrity, ethics, and Social Entrepreneurship

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 Small Business Operations

Managing the Firms Assets

Managing Risk

Filters