BUS ch. 7, 9, 12 and exam 3
Delta Airlines 48 and General Motors 49 both have profit-sharing arrangements with employees. What is a profit sharing plan?
An employee's profit share depends on the company's operating profit for the year. If pro
business grapevine is best defined as:
An informal communication network
Which of the following is an example of a company that would be difficult to start due to the high upfront costs?
Automobile manufacterer
what document identifies the goals of your proposed business and explains how these goals will be achieved?
Business plan
Although most recognizable in military organizations, all organizations have reporting and authority structures that put people in charger of other people. This is known as..
Chain of Command
performance feedback in the performance appraisal process is most effective when managers
Communicate tactfully and honestly with employees being appraised
When a group of people collectively provide capital for a product, it is called:
Crowd funding
What agency enforces federal employment laws?
EEOC
In a flat organization structure
Efficiency and productivity are improved
A manager who coordinates the activities of operating employees is a(n) ____ manager.
First-Line
a company that organizes by grouping together people who do the accounting or marketing uses a
Functional organizatio
Nike has found that customers in different part of the world have different preferences when it comes to favorite sports and sports fashion. What divisional structure would allow nike to most easily adapt to their customers?
Geographcial
Ford has a divisional structure. It has tried to standardize product platforms globally but adapts offerings in specific regions to better serve casting preferences. What kind of divisional structure does Ford have?
Geographical
Aside from contributions to our general economic well-being, founder of small business also contribute to growth and vitality in specific areas of economic and socioeconomic development. Which of the following is something that small businesses are NOT known for doing?
Hindering competition
all of the following are common reasons for building and supporting a diverse workforce EXCEPT:
It is bad for business.
The difference between part-time work and job sharing is that:
Jobs that are classified as part-time are jobs that can be done in a shorter amount of time than that of a full-time job, whereas job sharing creates one full-time position out of two part-time employees
a type of business that people enter into for the sole purpose of providing an income for themselves is known as:
Lifestyle business
Omar is learning about employee policies & company benefits. He is most likely attending in what kind of training?
New employee orientation
All of the following are sources of external recruiting EXCEPT:
Promotion of current employee
Common job titles associated with ____ management include president, vice president, and chief executive officer.
TOP
Retirement express Enterprise expecting a significant amount of retirements over the next five years. The owner, Susan, has asked the HR division to forecast what that means for future hiring needs. Which of the Following statements is most accurate?
The first step of the forecast will be to identify the human resources currently available in the organization.
a performance evaluation can be used for all of the following EXCEPT:
To discourage some employees from seeking new opportunities
Businesses fail for all of the following reasons, EXCEPT:
ability to handle growth
title VII of the civil rights act of 1964 addresses the isuee of a workplace discriminationn based on all of the follownig except
age
Johnathans actions may be in violation of which federal employment?
age discrimination in employment act of 1964
on average, about 30% of a workers salary goes toward his or her quizlet
benefits
What is the term where decision making is concentrated at the top of he organization?
centralization
Koby started a candle manufacturing company in college and is trying to distinguish his business idea from other similar ideas. His next steps are to figure out how to manufacture the candles, cheaper, faster and better than his
competition
in this type of financing the entrepreneur might offer a form of appreciation in exchange for funds
crowd funding
G.E's division that focuses on medical equipment like MRI machines is what kind of division?
customer
Building an organizational structure engages managers in two managers in two activities, job specialization and ____
departmentalization
paul wants to know about the skills and experience. needed to qualify for a management position with walmart. thus, he should call and ask HR specialist for a job
description
a company that organizes by grouping together people who do the same jobs, like accounting, or marketing, uses a:
divisional organization
someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it is known as:
entrepreneur
The Equal Pay Act applies directly to:
equal pay for equal work.
Telecommuting means that you regularly work. from home and are connected to the office by computer, fax, and phone. ll of the following re benefits EXCEPT:
feeling isolated due to less social interaction in the workplace
where do entrepreneurs most often start to raise money for their startup business
friends and family
what sector includes companies. in manufacturing construction and agriculture?
goods producing
which sector includes companies in manufacturing, construction and agriculture?
goods producing
a group of companies that compete with one another and sell similar products is a(n):
industry
An informal communication network is one that :
is created through unofficial relationships among organizational members.
which of the following is considered a disadvantage of hiring interna; candidates for an open position in an organization?
it limits potential for new ideas and skills to come into the organization
which of the following is NOT one of the three characteristics of entrepreneurial activity
job creation
All of the following contribute to employee satisfaction EXCEPT:
job repetition
the KSA's or knowledge, skills and abilities to perform a job are part of a
job specification
which of the following is not a. disadvantage of business ownership
learning opportunties
Why might a large organization choose to organize into divisions?
managers can oversee smaller divisions more effectively than an entire company
the process of attracting qualified job applicants is called
recruiting
what can an organizational chart tell you?
reporting relationships in an organization
entrepreneurs always work with a degree of uncertainty and can't know the outcomes of many of the decisions they have to make. Which characteristic of. entrepreneurial activity does this best align with?
risk taking
After the purchase of a franchise, which of the following payment would be required after initial payment?
royalty fee
what is the often complicated, time-consuming process that involves evaluating candidate qualifications and choosing the 'best' candidate?
selection
what is the name of the government agency that provides many kinds of support for small businesses including information and funding assistance?
small business administration
which is the m most common and riskiest option for starting a business
starting from scratch
Since they typically invest more than other, ___ tend to have higher expectations for a return on their investment.
venture capitalist
Employment tests can provide valid information about all of the following except:
work habits