Exam 16: Building a Team and Management Succession
Exam 1: The Foundations of Entrepreneurship117 Questions
Exam 2: Ethics and Social Responsibility: Doing the Right Thing106 Questions
Exam 3: Inside the Entrepreneurial Mind: From Ideas to Reality129 Questions
Exam 4: Conducting a Feasibility Analysis and Designing a Business Model112 Questions
Exam 5: Crafting a Business Plan and Building a Solid Strategic Plan115 Questions
Exam 6: Forms of Business Ownership and Buying an Existing Business126 Questions
Exam 7: Franchising and the Entrepreneur69 Questions
Exam 8: Building a Powerful Bootstrap Marketing Plan117 Questions
Exam 9: E-Commerce and the Entrepreneur142 Questions
Exam 10: Pricing and Credit Strategies114 Questions
Exam 11: Creating a Successful Financial Plan136 Questions
Exam 12: Managing Cash Flow138 Questions
Exam 13: Sources of Financing: Debt and Equity117 Questions
Exam 14: Choosing the Right Location and Layout114 Questions
Exam 15: Global Opportunities133 Questions
Exam 16: Building a Team and Management Succession119 Questions
Select questions type
Although many business owners see checking references as a formality and pay little attention to it, the process is ________.
(Multiple Choice)
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________ is the distinctive, unwritten code of conduct that governs the behavior, attitudes, relationships, and style of an organization.
(Multiple Choice)
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The intent of a situational interview is to make the interviewee as uncomfortable as possible without violating legal or ethical standards.
(True/False)
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Interviewers should avoid asking job candidates questions based on hypothetical on-the-job scenarios and how the candidate would handle them because the Equal Employment Opportunity Commission considers such questions to be illegal.
(True/False)
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Assume the role of a consultant to a small business owner who is about to conduct a job interview for the first time. Identify the guidelines that will help him develop interview questions. Also, explain the three phases of an effective interview.
(Essay)
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Information gathered during a job analysis provides the foundation for creating job descriptions and job specifications.
(True/False)
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Which of the following pairs describing leadership (first column) and management (second column) is not accurate? Leadership Management
(Multiple Choice)
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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 ________.
(Multiple Choice)
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Discuss the three options that entrepreneurs may consider when they sell their business to insiders.
(Essay)
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Mini-Case 16-3: The Pride of Vicksburg
Wallace Fry had been a lover of good food from the time he was a child. The only son of wealthy Southern parents, he spent hours with his mother watching her prepare meals for the family and friends. By the time Wallace was in high school, he had already won a number of awards for his original recipes. After leaving Vicksburg, Mississippi, to attend college in the Midwest, Wallace returned home to what must have been an unbelievable graduation present. His relatives purchased an old paddlewheel riverboat and had begun initial preparations to have it moored permanently at the foot of the Vicksburg landing on the Mississippi River. Wallace was presented with a 50 percent interest in the restaurant named "The Pride of Vicksburg."
The complete renovations and restoration of the beautiful old riverboat took an additional four months. Wallace was planning to have his new restaurant open for the spring tourist season. A number of regional magazines had already run feature stories on the project. With the opening one month away, Wallace decided it was time to staff the restaurant.
-Has Wallace waited too long to begin searching for employees?
(Essay)
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The classic auto assembly line is based on which job design principle?
(Multiple Choice)
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What tools would you suggest to Carol to minimize the estate taxes involved in passing the business on to Ralph and Cooper? Explain the advantages and disadvantages of at least three choices and explain why you make the final recommendation that you do.
(Essay)
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A ________ interview is where the interviewer gives candidates a typical job-related situation to assess how they respond.
(Multiple Choice)
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The job ________ design strategy adds more tasks to a job to broaden its scope.
(Multiple Choice)
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What would be the most effective way to recruit personnel for this type of business?
(Essay)
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Explain the differences among job simplification, job enlargement, job rotation, and job enrichment. Why should small business owners utilize these concepts?
(Essay)
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An effective job interview contains three phases: breaking the ice, asking questions, and selling the candidate on the company.
(True/False)
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Which government agency is responsible for enforcing employment laws?
(Multiple Choice)
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