Exam 19: Professional Management and the Small Business

Managers who can easily become distracted by fighting the everyday fires of business and, in the process, ignore or postpone planning succumb to what is sometimes called

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

Match the term with its definition. -A simple organizational structure in which each person reports to one supervisor

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

When a firm reaches Stage 2 of small business growth, the entrepreneur engages extensively in both the coordination of the efforts of others as well as performing basic work activities.

Stage 2 in the growth of a business is characterized by

Match the term with its definition. -The number of employees who are supervised by one manager

Entrepreneurs can gain management assistance from peers through

Match the term with its definition. -An SBA-sponsored group of working and retired executives who give free advice to small business owners

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

Describe the four stages of small business growth and how the owner would function.

Match the term with its definition. -The process of developing workable solutions through discussions or interactions

The organizational structure of small companies is often characterized by

A monthly production schedule is prepared as part of a(n) _____ plan.

Which of the following determines the "feel" of a business and is the "silent teacher" that sets the mood for employee conduct?

Most very small firms use an organizational structure in which each person reports to one supervisor.

Frequent and flagrant disregard of the chain of command undermines the position of the

Margaret has launched a new event planning company with four employees. With the growth in sales and personnel, the next stage of growth will involve

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

Individuals who are launching promising startups need to have a "tolerance for ambiguity."