test 2

Four general factors contribute to the failure rate of small businesses. Which of the following is NOT one of those factors?

low start-up costs

In which of the following industries are small businesses typically poorer performers than large businesses?

manufacturing

Using the Boston Consulting Group Matrix, SBU's are classified on the basis of ...

market share and market growth rate

The ___ of National Park Service is "To promote & regulate the use of the national parks which purpose is to conserve the scenery & the national & historic objects & the wildlife therein & to provide for the enjoyment of future generations."

mission statement

Comcast launched TV One, a station-geared to African Americans who are 24-54 year olds. It does not offer much hip hop. The program selection is part of Comcast's ___ plan.

operational

Which of the following statements BEST describes bounded rationality?

Decision makers are limited by having incomplete information as well as by their values, unconscious reflexes, skills, & habits.

Which of the following statements BEST reflects the proper approach to goal setting?

Managers should set goals for their own level in organizations.

Which of the following statements about the marketing argument for diversity is TRUE?

Organizations with diversity & multiculturalism are better able to understand different market segments that are less diverse organizations.

When the external labor market's composition is reflected by that of an organization ___ has occured.

full structural integration

The most significant disadvantage to franchising as a means of acquiring a business is

high start-up costs

Which of the following statements about the cost argument for diversity is TRUE?

A manager can reduce employee absenteeism & turnover by learning how to manage diversity & multiculturalism.

Which of the following best describes an entreprenuer?

Chad-Olsen, who hired a consulting firm to research his business idea & help set up Help Doc, which he now manages.

Business-level strategy focuses primarily on ...

The areas in which the firm may have an advantage & how much various organizational parts enhance each other.

Hurricane Irene was forecast to hit the Mid-Atlantic/Northeast about a week before it arrived. The plan to evacuate the Outer Bank of North Carolina was a ___ plan.

action

An organization implementing a prospector strategy needs to ...

all of these choices

Goals can _____

all of these choices

___ strategies in the Miles & Show Model represent a middle-of-the-road approach to business strategy.

analyzer

Goals are classified according to their ___ when the terms quality, productivity, & innovation are applied to them.

area

Diversity ____

can be conceptualized as a continuum.

Managers at LEO Corporation scrutinize problem until they have all of the information they feel they need to make a decision and discuss every alternative while focusing on facts and eliminating assumptions. Which decision-making model does this most closely resemble?

classical

Which of the following decision making models is a prescriptive model?

classical

An ____ is an informal group allied together for a common purpose.

coalition

European wine producers from regions such a Chablis, Chianti, Bordeaux set a goal increasing sales. They ran into ___. Their wine name was already registered in some countries.

constraints

When an organization effectively manages diversity, absenteeism decrease, turnover is reduced, and productivity increases. These results are suggested by the ___ argument

cost

___ is the act of choosing one alternative from many.

decision making

When the manager understands the available options but the probabilities associated with each option are uncertain, the manager is experiencing ...

decision making under risk

Groups that are used to develop a consensus of expert opinion without the members of teh group ever meeting face to face are called ___ groups.

delphi

Chaparral Steel is so efficient in its steel production & casting processes that it is the only U.S. Steel producer that regularly exports its products to Japan. This is an example of Chaparral Steel's ___

distinctive competence

The first step for the entrepreneur in planning his/her business is to ...

engage in self analysis

When evaluating decision alternatives, the first question to be asked is whether an alternative is within the realm of probability & practically for the organization. this refers to which of the following alternative evaluation criteria?

feasibility

Target is a discount retailer with cleaner stores, more customer services, and more current fashions. Target uses a(n) ____ strategy.

focus

___ is the set of values that helps its members understand what the organization considers important.

organization culture

AirTran Airlines (formerly ValuJet) has an airplane fleet that is older than those owned by other airlines. This is a potential ___ because it can give the company an image of poor quality or unsafe planes.

organizational weakness

What is the most common source of funds for entrepreneurs?

personal financial resources

Decisions that are routine & deal with situations in which the factors are familiar & have accured in the past are called ___ decisions.

programmed

A single-use plan that has a more narrow scope than a program is called a _____

project

3M is a highly innovative firm that is constantly seeking new markets & is oriented toward growth & taking risks. It uses a(n) ___ strategy.

prospector

Which activity in developing a business plan is the most important?

researching the market

In which of the following industries are you most likely to find small business success?

retailing

Google set a(n) ___ goal to purchase Motorola Mobility.

strategic

___ plans are the organizational plans that are broadest in focus & have the longest time frame.

strategic

A(n) ___ of Choice Waste Management could be to expand operations in two or more countries this year.

strategic goal

. ___ exists when the economic value together is greater than the value of the parts.

synergy

The ___argument supports the idea that if managers work effectively with a divers group the organization as a whole will respond more effectively to it changing environment.

systems flexibility

Plans that have an intermediate time horizon & are concerned with getting things done are called ___ plans.

tactical

According to the planning process described in the text, operational plans flow directly from ___

tactical plans

Agender-related problem that many organizations face today is called ___

the glass ceiling

An organization could have high level of intergroup conflict if ...

the management uses a closed door policy

Them most significant change in small business is ...

the rapid emergence of electronic commerce