Exam 19: Professional Management and the Small Business

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?

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

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

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 -A business's overall plan for the future.

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

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

Discuss the use of employee empowerment and self-managed work teams in relation to how leaders shape an innovative organisational culture.

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

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 ________ organisational structure.

Jenny is the owner-manager of a small accounting practice.She holds bi-weekly 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 15 April.What type of leadership style(s) does Jenny display and how?

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 -A plan that governs a business's operations for one year or less.

Match the term with its definition.Some terms may not be used a.Line organisation b.Line-and-staff organisation c.Negotiation d.Networking e.Professional manager f.Service Corps of Retired Executives g.Small business development centres h.Span of control -The number of employees who are supervised by one manager.

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

The greatest time saver is the effective use of time.

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

As a business moves from Stage 1 to Stage 4, the entrepreneur becomes less of a manager and more of a doer.

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 -Groups of employees with freedom to function without direct supervision but with responsibility for results.

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

In a line-and-staff organisation, which division is a line activity?

A monthly production schedule is prepared as part of the: