Exam 19: Professional Management and the Small Business

A budget is prepared as part of a

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 -An organizational structure that includes staff specialists who assist management

A small business that has expanded beyond the comfort zone of its entrepreneur will end in bankruptcy.

Scott,a printing shop owner,believes that his business is running rather haphazardly and wants to get it under control.The first step he should take is to

Mario has just begun to personally supervise employees.His firm likely to be in the ____________ stage of growth.

To improve employee morale,an industrial distribution business might consider __________.

If a company successfully creates properly functioning self-managed teams among employees,the supervisors will

A monthly production schedule is prepared as part of the

Match the term with its definition.Some terms may not be used. 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 -Granting to subordinates the right to act or make decisions

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

Owner-managers of small businesses typically overdo the amount of planning.

Paul has decided to start a musical venue that also includes a restaurant and an art gallery.His brother suggested he talk to a consultant to develop his business plan.What should Paul look for when searching? What issues should be determined before the consultant is hired?

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

Controlling is the managerial function that involves the managerss

Professional managers often have more sophisticated methods of management than entrepreneurs.

Nancy just added her eighth employee,a human resource manager who will be responsible for all future hiring,training,retaining,and firing decisions.The company is in a ________ organizational structure.