Question 1

The owner of a video rental business wishes to allow employees to own part of the business.Which plan can she use to do this?

Accepted Answer

A)  profit-sharing 
B)  bonus 
C)  ESOP 
D)  fully vested pension

Question 2

While nice to have,goals are not absolutely required in order to plan successfully.

Accepted Answer

A) True 
 B)False

Question 3

Profit sharing provides a more direct work incentive in small firms than in large ones.

Accepted Answer

A) True 
 B)False

Question 4

Explain the nature of orientation programs and why they are needed.

Accepted Answer

The answer of Explain the nature of orientation programs and...

Question 5

Benoit is meeting with fellow executives to discuss sales opportunities in France.What term refers to the group Benoit is a part of?

Accepted Answer

A)  strategic team 
B)  management team 
C)  planning team 
D)  tactical team

Question 6

In very small firms-those with 20 or fewer employees-extensive interaction is rare.

Accepted Answer

A) True 
 B)False

Question 7

Founders of new firms are typically movers and shakers,not administrators.

Accepted Answer

A) True 
 B)False

Question 8

Small firms compete with large firms for qualified personnel,but they have several potential advantages over large firms in attracting personnel.What is one of these advantages?

Accepted Answer

A)  Small firms usually pay higher wages. 
B)  Individuals can become managers more quickly. 
C)  Personnel can enjoy a larger pool of benefits. 
D)  Employees work fewer hours and have less stress on average.

Question 9

Because employers contribute to workers' compensation employees cannot sue the employer for losses or injuries that occur in the course of employment.

Accepted Answer

A) True 
 B)False

Question 10

Most training in small firms is accomplished while on the job.

Accepted Answer

A) True 
 B)False

Question 11

Jeremy is an operations manager within a plastics manufacturing company.Jeremy is able to resolve processing problems and implement permanent solutions.Which common characteristic of a manager does Jeremy exhibit?

Accepted Answer

A)  innovative 
B)  analytical 
C)  intuitive 
D)  bold

Question 12

Entrepreneurs usually come from either the operations or the sales side of the business.

Accepted Answer

A) True 
 B)False

Question 13

Big firms have human resources managers,so why shouldn't small businesses?

Accepted Answer

The answer of Big firms have human resources managers,so why...

Question 14

Small business founders typically have characteristics different from professional managers.List these characteristics.

Accepted Answer

The answer of Small business founders typically have characteristics different...

Question 15

Devin is a partner in a biotech venture.Devin keeps the venture moving forward and builds partnerships to grow revenues.Which term best describes Devin?

Accepted Answer

A)  managing director 
B)  visionary entrepreneur 
C)  strategic director 
D)  lead entrepreneur

Question 16

Secondary schools,trade schools,colleges,and universities are undesirable sources for qualified employees required by a new venture.

Accepted Answer

A) True 
 B)False

Question 17

What condition is most likely to encourage the appointment of a human resources manager?

Accepted Answer

A)  labour turnover rate is low 
B)  competition for personnel is low 
C)  employees are represented by a union 
D)  there are 35 employees in the firm

Question 18

The developmental process begins within an employee's first two or three days on the job.

Accepted Answer

A) True 
 B)False

Question 19

Validity is the extent to which an employment test assesses true job performance ability.

Accepted Answer

A) True 
 B)False

Question 20

A professional manager is a manager who has experience starting small businesses.

Accepted Answer

A) True 
 B)False

Exam 9: The New Venture Team, Small Firm Management, and Managing Human Resources

The owner of a video rental business wishes to allow employees to own part of the business.Which plan can she use to do this?

While nice to have,goals are not absolutely required in order to plan successfully.

Profit sharing provides a more direct work incentive in small firms than in large ones.

Explain the nature of orientation programs and why they are needed.

Benoit is meeting with fellow executives to discuss sales opportunities in France.What term refers to the group Benoit is a part of?

In very small firms-those with 20 or fewer employees-extensive interaction is rare.

Founders of new firms are typically movers and shakers,not administrators.

Small firms compete with large firms for qualified personnel,but they have several potential advantages over large firms in attracting personnel.What is one of these advantages?

Because employers contribute to workers' compensation employees cannot sue the employer for losses or injuries that occur in the course of employment.

Most training in small firms is accomplished while on the job.

Jeremy is an operations manager within a plastics manufacturing company.Jeremy is able to resolve processing problems and implement permanent solutions.Which common characteristic of a manager does Jeremy exhibit?

Entrepreneurs usually come from either the operations or the sales side of the business.

Big firms have human resources managers,so why shouldn't small businesses?

Small business founders typically have characteristics different from professional managers.List these characteristics.

Devin is a partner in a biotech venture.Devin keeps the venture moving forward and builds partnerships to grow revenues.Which term best describes Devin?

Secondary schools,trade schools,colleges,and universities are undesirable sources for qualified employees required by a new venture.

What condition is most likely to encourage the appointment of a human resources manager?

The developmental process begins within an employee's first two or three days on the job.

Validity is the extent to which an employment test assesses true job performance ability.

A professional manager is a manager who has experience starting small businesses.