Exam 19: Professional Management and the Small Business

Jenny is the owner-manager of a small accounting practice. She holds biweekly employee meetings to cover company goals, focus points for the future, and keep the employees updated on current tax changes. She has developed significant bonds with the employees, so they share work (and personal) problems with her more than in the past. Often Jenny can be found assisting new clients and aiding in paperwork completion, especially around April 15. What type of leadership style(s) does Jenny display and how?

Which of the following is a reason why many small firm managers are reluctant to use outside advisers?

A budget is usually prepared _____ in advance, with a breakdown of figures for each _____.

A budget is prepared as part of a(n) _____ plan.

From Stage 1 to Stage 4 of small business growth, the small business owner becomes less of a _____ and more of a _____.

Kathleen believes she could be more efficient in the use of her time. To determine where improvements can be made, Kathleen should first

What is the difference between a line organization and a line-and-staff organization?

Discuss what makes a leader effective.

Effective time management requires

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

Stage 4 of small business growth involves the use of budgets, personnel practices, organizational charts, and control procedures.

The maximum number of employees who can be supervised effectively by a capable manager is four.

Match the term with its definition. -The process of granting to subordinates the right to act or make decisions

An organization in which the primary channel of communication is rigid will

Showing up at an event and handing out a lot of business cards is an effective form of networking.

John, a small business operations manager, is confronted with a quality problem. A typical small business handicap that will hamper his efforts to solve the problem is a lack of

Match the term with its definition. -A firm's overall plan for the future

Many small business owners seldom work more than 40 hours a week.

Periodic performance review sessions for a company following two-way communication between managers and employees would discuss employees' ideas, questions, complaints, and job expectations.

Match the term with its definition. -An organizational structure that includes staff specialists who assist management