Exam 16: Building a Team and Management Succession

Although many business owners see checking references as a formality and pay little attention to it,it is:

Which of the following pairs describing leadership (first column)and management (second column)is accurate? Leadership Management

Cora arrived at work at 7 am today,and she will get off at 4 pm so that she can watch her son's soccer game.Her office mate,Emma,is not a "morning person" and usually arrives at the office at 10 am and gets off at 7 pm.Their company uses:

In job enrichment,________ is the degree to which a job requires a variety of different skills,talents,and activities from the worker.

List and briefly identify the five estate planning tools the owners of a family business should consider.

The ________ design strategy involves building motivators into a job by increasing the planning,decision-making,organizing,and controlling functions workers perform.

Explain the differences among job simplification,job enlargement,job rotation,and job enrichment.Why should small business owners utilize these concepts?

A buy/sell agreement allows the founder of the business to sell it outright to the successor and avoid taxation on the transfer.

Companies desiring to improve their recruitment efforts are finding that the Internet offers tremendous reach at a relatively low cost and is very effective.

Job enrichment increases the planning,decision-making,organizing,and controlling functions in a job.

The oldest child is the best choice for a successor to manage a company.

A leveraged buyout is an arrangement in which managers and/or employees borrow money from a financial institution and pay the owner the total agreed-on price pro-rated over a seven-year period.

Which of the following is not a recommended guideline for developing questions to ask candidates in job interviews?

By linking employees' compensation directly to the company's financial performance,a business owner increases the likelihood that workers will achieve performance targets that are in their best interest and in the company's best interest.

Burt is applying for a position as a staff accountant.The job specification for the position might list all of the following items except:

Effective interviewers ignore candidates' nonverbal clues ("body language")in interviews because they know that most candidates are so nervous that their nonverbal communication is meaningless.

The ________,published by the Department of Labor,lists more than 20,000 job titles and descriptions and serves as a useful tool for getting a small business owner started when writing job descriptions.

Companies using flextime schedules often experience lower levels of tardiness and absenteeism.

A trust is a contract between a grantor and a trustee,which shields all assets from any federal tax and permits the small business owner to pass on his business without incurring tax liabilities.

A ________ is the process by which a company determines the duties and the nature of the jobs to be filled and the skills and experience required of the people who are to fill them.