Question 1

The key to using rewards to motivate employees involves tailoring them to the needs and characteristics of the workers.

Accepted Answer

A) True 
 B)False

Question 2

A major advantage of family businesses is that there is always a guaranteed successor within the family whenever the owner decides to step down.

Accepted Answer

A) True 
 B)False

Question 3

In job enrichment,________ is the degree to which a job gives a worker the freedom,independence,and discretion in planning and performing tasks.

Accepted Answer

A) task identity 
B) task significance 
C) autonomy 
D) feedback

Question 4

Small business owners should take the time to check every candidate's references.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

The answer of List at least ten of the seventeen...

Question 6

Which of the following types of questions should a business owner ask a candidate in a job interview?

Accepted Answer

A) Questions calling for "yes or no" answers 
B) Questions about the candidate's religious beliefs 
C) Questions based on on-the-job scenarios that require open-ended answers 
D) Questions about the candidate's physical traits,characteristics,and family life

Question 7

Once a business owner transfers power and control to her successor,she should not hesitate to step back into the business to fix problems when they occur.

Accepted Answer

A) True 
 B)False

Question 8

The preparation of a successor is a two-way process,showing the direction of the business and what led to its success,but also learning and listening.

Accepted Answer

A) True 
 B)False

Question 9

The type of job design that adds more tasks to a job to broaden its scope is known as:

Accepted Answer

A) job rotation. 
B) job enlargement. 
C) horizontal job loading. 
D) Both B and C

Question 10

The classic auto assembly line is based on which job design principle?

Accepted Answer

A) Job enlargement 
B) Job enrichment 
C) Job simplification 
D) Job rotation

Question 11

A(n)________ is the most basic type of trust,which allows a business owner to put up to $1.3 million into trust,naming his spouse as the beneficiary upon his death.The spouse receives the income from the trust throughout her life,but the principal in the trust goes to the couple's heirs free of estate taxes upon the spouse's death.

Accepted Answer

A) grantor-retained annuity trust 
B) family limited partnership 
C) bypass trust 
D) estate freeze

Question 12

For management succession to be successful,the process should start early in the successor's life.

Accepted Answer

A) True 
 B)False

Question 13

In a grantor-retained annuity trust (GRAT):

Accepted Answer

A) the grantor could put company stock in an irrevocable trust lasting for up to 10 years. 
B) the grantor retains the voting power and interest income from the stock in the trust. 
C) the company stock transfers to the beneficiaries at the end of the trust and is taxed at its discounted present value. 
D) All of the above

Question 14

Has Wallace waited too long to begin searching for employees?

Accepted Answer

The answer of Has Wallace waited too long to begin...

Question 15

What would be the most effective way to recruit personnel for this type of business?

Accepted Answer

The answer of What would be the most effective way...

Question 16

Leadership deals with doing things right; management deals with doing the right things.

Accepted Answer

A) True 
 B)False

Question 17

In job enrichment,________ is the degree to which a job substantially influences the lives or work of others employees or final customers.

Accepted Answer

A) skill variety 
B) task identity 
C) task significance 
D) autonomy

Question 18

The ________ design strategy adds more tasks to a job to broaden its scope.

Accepted Answer

A) job simplification 
B) job enlargement 
C) job enrichment 
D) job rotation

Question 19

The job specification outlines the duties and responsibilities of a job and its working conditions while the job description outlines the characteristics skills,education,experience a person needs to fill a job.

Accepted Answer

A) True 
 B)False

Question 20

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.

Accepted Answer

A) True 
 B)False

Exam 16: Building a Team and Management Succession

The key to using rewards to motivate employees involves tailoring them to the needs and characteristics of the workers.

A major advantage of family businesses is that there is always a guaranteed successor within the family whenever the owner decides to step down.

In job enrichment,________ is the degree to which a job gives a worker the freedom,independence,and discretion in planning and performing tasks.

Small business owners should take the time to check every candidate's references.

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

Which of the following types of questions should a business owner ask a candidate in a job interview?

Once a business owner transfers power and control to her successor,she should not hesitate to step back into the business to fix problems when they occur.

The preparation of a successor is a two-way process,showing the direction of the business and what led to its success,but also learning and listening.

The type of job design that adds more tasks to a job to broaden its scope is known as:

The classic auto assembly line is based on which job design principle?

For management succession to be successful,the process should start early in the successor's life.

In a grantor-retained annuity trust (GRAT) :

Has Wallace waited too long to begin searching for employees?

What would be the most effective way to recruit personnel for this type of business?

Leadership deals with doing things right; management deals with doing the right things.

In job enrichment,________ is the degree to which a job substantially influences the lives or work of others employees or final customers.

The ________ design strategy adds more tasks to a job to broaden its scope.

The job specification outlines the duties and responsibilities of a job and its working conditions while the job description outlines the characteristics skills,education,experience a person needs to fill a job.

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.