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| Question | Answer |
|---|---|
| What is the primary reason that so many new businesses fail? | Mismanagement resulting from lack of business know-how |
| Businesses are generally placed into three broad categories | Service industries, production industries, and distribution industries |
| _____ is the basic principle characterizing the increases in productivity for the past two hundred years | New Ways to do a job with less effort and at lower cost |
| Which of the following statements is not true about small business | Provide technical innovation |
| the disadvantages of small businesses include all of the following except | No opportunity to support your family |
| A Carefully constructed guide for the person starting a business is a | Business Plan |
| SBA Stands for | Small Business Adminstration |
| the acronym SCORE stands for | Service Corps of Retired Executives |
| _____ are profit-making organizations | Small Business Investment Companies |
| A Person or organization purchasing a license to operate an individually owned business as though it were part of achain of outlets is called a | Franchise |
| Which form of franchising is the most common today? | a Franchisor supplies brand names, technique, or otehr services instead of a complete product. |
| Management can achieve its goals by coordinating what four types of resources | Material, informational, human, financial |
| ____ make up the four organizational goals every form wants to achieve | Planning, organizing, leading/motivating, controlling |
| A process of _____ to achieve the goals of the organization | Coordinating people and other resources |
| Which of the ollowing items is not a part of planning | Objective plan |
| An outline of the actions an organization intends to take to acoomplish its goals and objectives is called its | Plan |
| the broadest set of plans developed as a guide for major policy setting and decision making is called a | strategy |
| An ____ is a type of plan designed to implement tactical plans | Operational plan |
| The two managerial functions that compose the process of directing an organization are | Motivating and leading |
| Entrepreneur, disturbance handler, resource allocator, and negotiator are all interpersonal roles of a | manager |
| ONe type of leadership style is | Laissez-faire |
| Which of the following is NOT a step in teh decision-making process? | Solving the identified problem |
| Implementation of a decision requires | time, planning, and prepration of personnel |
| In the last stage of the decision-making process, managers may decide to start the ___ process all over again | problem-identification process |
| Which of the following statements is false? | Under government wage regulations, managers must be paid overtime for work in excess of 40 hours a week. |
| Solid vertical lines on an organizational chart indicate | Relationships among the chain of command |
| The first step on the organizing process is to | divide the work to gbe done into parts and assigne the parts to positions within the organization |
| Where does establishing the organization chart fit into the process of organizing a business? | The chart should be established as the last step of organizing a business. |
| the Book ___, Published in teh eighteenth century, emphasizes the power of job specialization | Wealth of Nations |
| The systematic shifting of employees from one job to another is called | Job Rotation |
| Grouping jobs into manageable units according to some reasonable scheme is known as | departmentalization |
| Location, prodcut, function and customer are common bases for a firm's | Job specialization |
| Grouping all activities according to the geographic area in whch they are located is a | departmentalization by location |
| a firm organized on the bases of retail custmers and wholesale custmers utilizes the concept of | departmentatlization by customer |
| One's duty to do a job or perform a task is called | responsibility |
| the number of workers who report direclty to one manager is called the | span of management |
| A position that is part of the chain of command and shares in the direct responsibility for achieving organizational goals is a | line management position |
| Which of the following is NOT one of the four basic forms of organizational structure | Line |
| successful operations managers must be able to do all of the following except | advertise and sell the firm's product |
| if a good or service satisfies a human need, it has | Utility |
| The American economy is now characterized as a | Service Economy |
| Services differ from manufactured goods in all of the following ways except | Services can be stored, and manufatured goods cannot be stored. |
| Product extension and refinement extend the | product life cycle |
| a group of similiar products that differ only in realitively minor characteristics is called a | product line |
| the process of creating a set of specifications from which the product can be produced is called | Product design |
| A product layout is often referred to as an | Assembly line |
| A __ generally lasts for one year | planning horizon |
| Operations control includes all of the following except | basic research |
| What are the two types of costs associated with inventory? | Stock-out costs and holding costs |
| All of the following are steps in PERT except | Assigning the proper personnel to work stations |
| Automation is expected to do all of the following except | Decrease productivity |
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Adam9680