Exam 19: Professional Management and the Small Business

The challenge for small firm leaders is to develop a professional approach to management, while still retaining the entrepreneurial spirit of the enterprise.

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

Suggest some solutions for better time management.

A flashy, highly charismatic personality is required to be an effective leader.

The use of written policies, budgets, and job descriptions is most closely associated with which of the following stages of small business growth?

Most entrepreneurs typically overdo the amount of planning.

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

Vivian would like to improve two-way communication with her subordinates. Which of the following ideas would be most helpful to her?

Match the term with its definition. -The official, vertical channel of communication in an organization

As a firm moves from Stage 1 to Stage 4 of small business growth, the small business owner becomes less of a leader and manager and more of a doer.

Research has shown that, surprisingly, relatively simple adjustments in physical space do not have much effect on the mindset that employees assume at work.

In order for an individual to supervise effectively, what is the optimal span of control?

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 Andrea continue as the CEO? At what level is the company in its development? What factors should Andrea consider as the company continues to grow?

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 using a _____ organizational structure.

Discuss span of control, including what it is, what factors affect the span of control, and what the optimal span of control for a small firm is.

Greater firm profitability results from engaged employees because they

A positive solution should be pursued in negotiations whenever it is feasible to do so.

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

The personal shopper business that Jeff and Christy have developed has grown, so they are busy 50 hours weekly. This schedule leaves little time for them as a couple. They have decided to hire outside employees to take over some of their business responsibilities. What suggestions should they follow to ease this transition?

Which of the following type of leadership styles focuses on building consensus through participation?