Question 1

An assembly line is based on the principle of job simplification.

Accepted Answer

A) True 
 B)False

Question 2

Would you like working for Norm? Why or why not?

Accepted Answer

Most students probably would n

Question 3

The Equal Employment Opportunity Commission (EEOC)supplies employers with a list of questions it considers illegal in interviews.

Accepted Answer

A) True 
 B)False

Question 4

In addition to contacting the references a job applicant provides,experienced employers also call an applicant's previous employers to attempt to get a clear picture of the applicant's job performance,character,and work habits.

Accepted Answer

A) True 
 B)False

Question 5

Chris openly shares the company's financial results with employees.This represents:

Accepted Answer

A) a profit-sharing plan. 
B) a pay-for-performance approach. 
C) the cafeteria benefit plan. 
D) open book management. 
A) a profit-sharing plan. 
B) a pay-for-performance approach. 
C) the cafeteria benefit plan. 
D) open book management.

Question 6

In the breaking the ice phase of the interview process,skilled interviewers often use the job description to explain the nature of the job and the company's culture to candidates.

Accepted Answer

A) True 
 B)False

Question 7

When transferring power in a management succession,the small business owner should do all but which of the following?

Accepted Answer

A) Tell the successor where all the critical documents are wills,trusts,insurance policies,etc. 
B) Provide the successor with a list of advisers,people who have given you good advice in the past. 
C) Be open to learn from as well as to teach the successor. 
D) Transfer power quickly and step back,letting the successor run the business completely without any advice or interference by the owner. 
A) Tell the successor where all the critical documents are wills,trusts,insurance policies,etc. 
B) Provide the successor with a list of advisers,people who have given you good advice in the past. 
C) Be open to learn from as well as to teach the successor. 
D) Transfer power quickly and step back,letting the successor run the business completely without any advice or interference by the owner.

Question 8

During the transfer of power,how should the owner deal with company problems and mistakes the successor makes?

Accepted Answer

A) Use them as a means for teaching. 
B) Step in and fix them herself,to prevent damage to the company. 
C) Explain how the owner would have handled it and insist it be done that way in the future. 
D) Use them as an opportunity to maintain control for as long as possible. 
A) Use them as a means for teaching. 
B) Step in and fix them herself,to prevent damage to the company. 
C) Explain how the owner would have handled it and insist it be done that way in the future. 
D) Use them as an opportunity to maintain control for as long as possible.

Question 9

A strong leader does not share aspects of his or her company's financial health,its future plans,or her vision for it with employees.

Accepted Answer

A) True 
 B)False

Question 10

Leadership is:

Accepted Answer

A) essential to a company's success. 
B) not an easy skill to learn. 
C) influencing and inspiring others to work to achieve a common goal and then giving them the power and the freedom to achieve it. 
D) All of the above 
A) essential to a company's success. 
B) not an easy skill to learn. 
C) influencing and inspiring others to work to achieve a common goal and then giving them the power and the freedom to achieve it. 
D) All of the above

Question 11

Which of the following is not one of the vital tasks small business leaders must perform?

Accepted Answer

A) Hire the right employees to the team and constantly improve their skills. 
B) Create a culture for retaining employees. 
C) Plan for "passing the torch" to the next generation of leadership. 
D) Keep flexible and do not be concerned about preparing for the next generation of management. 
A) Hire the right employees to the team and constantly improve their skills. 
B) Create a culture for retaining employees. 
C) Plan for "passing the torch" to the next generation of leadership. 
D) Keep flexible and do not be concerned about preparing for the next generation of management.

Question 12

Without proper estate planning,the heirs to a successful business may be required to sell it just to pay the estate tax bill.

Accepted Answer

A) True 
 B)False

Question 13

Almost ________ percent of business founders intend to pass theirs on to their children; however,only ________ percent have created a formal management succession plan.

Accepted Answer

A) 81; 25 
B) 90; 65 
C) 75; 50 
D) 60; 10 
A) 81; 25 
B) 90; 65 
C) 75; 50 
D) 60; 10

Question 14

Maria is excited about the new opportunity her company has offered her she will be able to work from her home office with a company computer and a high speed internet connection while she spends time with her newborn son.This is possible because of the implementation of:

Accepted Answer

A) telecommuting. 
B) hoteling. 
C) job sharing. 
D) job rotation. 
A) telecommuting. 
B) hoteling. 
C) job sharing. 
D) job rotation.

Question 15

Effective leaders make sure that workers have both the tangible and the intangible resources they need to do their jobs well.

Accepted Answer

A) True 
 B)False

Question 16

A compensation system in which employees' pay depends on how well they perform their jobs is known as:

Accepted Answer

A) a profit-sharing plan. 
B) open book management. 
C) a pay-for-performance compensation system. 
D) a commission compensation plan. 
A) a profit-sharing plan. 
B) open book management. 
C) a pay-for-performance compensation system. 
D) a commission compensation plan.

Question 17

About one-third of Fortune 500 companies are family owned.

Accepted Answer

A) True 
 B)False

Question 18

Effective leaders recognize that money is not the only reward that motivates workers.

Accepted Answer

A) True 
 B)False

Question 19

The IRS permits annual gifts of up to $100,000 from a parent to each child per year to be exempt from federal gift taxes.

Accepted Answer

A) True 
 B)False

Question 20

Luisa,the director of human resources,is discussing the duties and responsibilities of a new position and its working conditions with Delmar,the manager over the position.Luisa and Delmar are discussing a:

Accepted Answer

A) job description. 
B) management audit. 
C) job specification. 
D) job analysis. 
A) job description. 
B) management audit. 
C) job specification. 
D) job analysis.

An assembly line is based on the principle of job simplification.

Would you like working for Norm? Why or why not?

The Equal Employment Opportunity Commission (EEOC)supplies employers with a list of questions it considers illegal in interviews.

In addition to contacting the references a job applicant provides,experienced employers also call an applicant's previous employers to attempt to get a clear picture of the applicant's job performance,character,and work habits.

Chris openly shares the company's financial results with employees.This represents:

In the breaking the ice phase of the interview process,skilled interviewers often use the job description to explain the nature of the job and the company's culture to candidates.

When transferring power in a management succession,the small business owner should do all but which of the following?

During the transfer of power,how should the owner deal with company problems and mistakes the successor makes?

A strong leader does not share aspects of his or her company's financial health,its future plans,or her vision for it with employees.

Leadership is:

Which of the following is not one of the vital tasks small business leaders must perform?

Without proper estate planning,the heirs to a successful business may be required to sell it just to pay the estate tax bill.

Almost percent of business founders intend to pass theirs on to their children; however,only percent have created a formal management succession plan.

Maria is excited about the new opportunity her company has offered her she will be able to work from her home office with a company computer and a high speed internet connection while she spends time with her newborn son.This is possible because of the implementation of:

Effective leaders make sure that workers have both the tangible and the intangible resources they need to do their jobs well.

A compensation system in which employees' pay depends on how well they perform their jobs is known as:

About one-third of Fortune 500 companies are family owned.

Effective leaders recognize that money is not the only reward that motivates workers.

The IRS permits annual gifts of up to $100,000 from a parent to each child per year to be exempt from federal gift taxes.

Luisa,the director of human resources,is discussing the duties and responsibilities of a new position and its working conditions with Delmar,the manager over the position.Luisa and Delmar are discussing a:

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Forms of Business Ownership

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Choosing the Right Location and Layout

Global Opportunities

Filters

Exam 16: Building a Team and Management Succession

An assembly line is based on the principle of job simplification.

Would you like working for Norm? Why or why not?

The Equal Employment Opportunity Commission (EEOC)supplies employers with a list of questions it considers illegal in interviews.

In addition to contacting the references a job applicant provides,experienced employers also call an applicant's previous employers to attempt to get a clear picture of the applicant's job performance,character,and work habits.

Chris openly shares the company's financial results with employees.This represents:

In the breaking the ice phase of the interview process,skilled interviewers often use the job description to explain the nature of the job and the company's culture to candidates.

When transferring power in a management succession,the small business owner should do all but which of the following?

During the transfer of power,how should the owner deal with company problems and mistakes the successor makes?

A strong leader does not share aspects of his or her company's financial health,its future plans,or her vision for it with employees.

Leadership is:

Which of the following is not one of the vital tasks small business leaders must perform?

Without proper estate planning,the heirs to a successful business may be required to sell it just to pay the estate tax bill.

Almost ________ percent of business founders intend to pass theirs on to their children; however,only ________ percent have created a formal management succession plan.

Maria is excited about the new opportunity her company has offered her she will be able to work from her home office with a company computer and a high speed internet connection while she spends time with her newborn son.This is possible because of the implementation of:

Effective leaders make sure that workers have both the tangible and the intangible resources they need to do their jobs well.

A compensation system in which employees' pay depends on how well they perform their jobs is known as:

About one-third of Fortune 500 companies are family owned.

Effective leaders recognize that money is not the only reward that motivates workers.

The IRS permits annual gifts of up to $100,000 from a parent to each child per year to be exempt from federal gift taxes.

Luisa,the director of human resources,is discussing the duties and responsibilities of a new position and its working conditions with Delmar,the manager over the position.Luisa and Delmar are discussing a:

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Forms of Business Ownership

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Choosing the Right Location and Layout

Global Opportunities

Filters

Almost percent of business founders intend to pass theirs on to their children; however,only percent have created a formal management succession plan.