Exam 16: Building a Team and Management Succession

The type of job design that breaks work down into its simplest form and standardizes tasks is known as ________.

List at least ten of the seventeen behaviors that effective leaders exhibit.

If their companies are to grow and reach their potential, entrepreneurs must learn to be effective leaders.

To be effective, a small business leader must perform three vital tasks. List and briefly explain these three tasks.

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.

A ________ interview involves offbeat questions to determine how job candidates think and reason, allowing the interviewer to assess their capacity for creativity.

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

Effective leaders know they must punish workers who take risks and fail so that other workers do not make the same mistakes.

Leadership is an easy skill to learn.

Both leadership and management are essential to a small company's success, but leadership comes first.

A job ________ identifies the duties and responsibilities of a position and its working conditions, while a job ________ identifies the qualifications required of the job candidate in terms of skills, education, and experience needed.

Mini-Case 16-2: Passing the Baton Carol Wingard started a small jewelry manufacturing company when she was in her late 20s, and has worked hard to build it into a highly successful family business. Now, 40 years later, she was "ready to sit down and enjoy life." Seven family members, including her two sons, Ralph and Cooper, work in the business. Ralph, with 30 years of experience, and Cooper, with 22 years of experience, are both vice presidents of the company. Carol has always intended to pass the business on to her sons, who together own 20 percent of the company's stock. However, she has always been too busy running the business to put together a formal management succession plan. For the past decade, many of the employees have whispered among themselves about who would be named president if Mrs. Wingard stepped down and exactly what would happen to the business. Now that she has decided to retire, Carol wants to begin developing a management succession plan. -Carol calls you and announces her plans to retire within a year. What advice would you offer her about a management succession plan?

Questions like "What are you deeply passionate about?", "What can you be the best in the world at?" and "What drives your economic engine?" are important to define your ________, according to the work of Jim Collins.

The job ________ design strategy involves cross-training workers so they can move from one job in the company to others, giving them a greater number and variety of tasks to perform.

Because their companies are small, entrepreneurs need not develop the leadership skills managers in larger companies need.

Today's workforce responds best to a leadership style based on instilling fear and intimidation.

Why is developing a management succession plan so important to the founder of a family business? Identify and briefly describe the steps of a successful plan.

The principle of job enlargement is to make a job more varied and to allow employees to perform a more complete unit of work by broadening its scope.

In job enrichment, ________ is the degree to which a job gives the worker direct, timely information about the quality of her/his performance.