True or false Ms.Webb

When deciding how to get work accomplished, the first step for managers is to develop a budget

False

A disadvantage of a partnership that fails is that a partner can lose personal assets in addition to the amount of money invested in the business.

false

A measure of a nation's wealth is its GDP

false

According to Maslow, people must satisfy their need for esteem before social needs motivate them.

false

Because values are similar among nations, ethical problems are not likely to arise for firms involved in international business.

false

Communication is simply telling employees what to do.

false

Corporations usually have a tax advantage over partnerships.

false

Demand is represented by wanting an expensive leather jacket without having the money to buy it.

false

Each stockholder has only one vote regardless of the number of shares owned.

false

Effectiveness of a work team is the responsibility of team members; managers cannot influence its success.

false

Goals should be stated in broad, nonspecific language to make them easier to reach. 1/1

false

Inflation increases the purchasing power of money.

false

Innovations rarely affect business operations

false

Leaders can be effective without good human relations skills.

false

More managers are usually needed when workers are empowered.

false

New businesses almost always fail for purely financial reasons

false

The 1945-1965 high birth rate period is referred to as the baby bust period.

false

The United States has adequate resources to satisfy all the wants of all its people.

false

The invisible barrier to job advancement is known as the iron curtain syndrome.

false

The most common form of business ownership is the partnership

false

The number of manufacturing firms far exceeds the number of service firms.

false

When employees learn a variety of jobs and regularly switch jobs with others, productivity drops.

false

Wholesalers and retailers are classified as industrial types of businesses.

false

Work assignments and relationships in a matrix organization are clear but temporary.

true

Moving from the role of coworker to the role of supervisor is an easy change.

False

Most supervisors have extensive management training.

False

A problem can be considered solved on a solution has been chosen and implemented

False

Although they were once common, formal training programs for supervisors is rare

False

An organization chart is a visual device that lists the policies and procedures of a business.

False

Effective leaders are born with the necessary skills; the skills cannot be learned.

False

Effective planning is less important to the success of a business than other management functions, such as organizing, staffing, leading, and controlling.

False

Managers should make job assignments based on seniority rather than by matching the job to the needs and interests of the employee.

False

Both expert and identity power are related to effective leadership practices

True

Effective managers demonstrate commitment to the continued success of the organization

True

Listening is an important communication skill for supervisors

True

Managers should strive for consistency and objectivity in their work.

True

Managers who believe employees are lazy and work only because they get paid will provide close supervision and control.

True

Marketing research and product development research are two common areas of business research study.

True

Not every manager is currently an effective leader, but leadership skills can be developed.

True

SWOT analysis involves both internal and external investigation

True

The manager who understands the needs of employees will be a better manager.

True

The most important resource available to managers is the company's employees

True

Work rules are created in order to maintain an effective work environment

True

To form a corporation a charter is needed.

true

Unity of command requires that no employee have more than one supervisor at a time.

true

A business plan helps entrepreneurs see the risks and responsibilities involved in starting a business

true

A business that trains gang members in job-related skills is being socially responsible.

true

A cooperative provides members with both cost and profit advantages they would not have individually.

true

A corporation can make contracts, borrow money, and be sued.

true

A franchise is one method of starting a business if a person has limited business experience.

true

A measure of a nation's wealth is its GDP

true

A recent study of top managers found that finding and retaining qualified workers was more important than finance, technology, product innovation, or international business

true

All leaders tend to share several common characteristics

true

An example of a schedule is the assignment of employees to specific tasks in a department and the approximate time it will take to complete each task.

true

Before a team can be effective, members must clearly understand the activities to be completed.

true

Budgets are controlling devices as well as planning devices.

true

Countries with a command economy are often dictatorships.

true

Decreased production and increased unemployment occur during recessions.

true

Economists include government as a factor of production

true

Employees who observe their managers acting unethically will often lose respect for both the manager and the business itself.

true

Ethical conduct requires doing more than the law requires

true

Financing the business is one of the responsibilities of the business owner.

true

Knowing what customers want is critical to achieving effectiveness rather than efficiency.

true

Managers can actually influence whether employees like or dislike their work.

true

Most employees like change and respond well when change is introduced.

true

Reviewing performance is part of the controlling function

true

Selling snow tires to a customer during the first snowstorm of the season is an example of providing time utility.

true

Social responsibility refers to the duty of a business to contribute to the well-being of society.

true

Staffing focuses on finding the right individuals who can perform the work.

true

Standards should be revised when it is clear they will not accurately reflect performance and when attempts to improve performance have not been successful.

true

The average profit earned by a business today is about 5 percent of total receipts.

true

The demand is low and supply is high for unskilled workers in most age groups.

true

The failure rate for non-franchised businesses is higher than the failure rate for franchised businesses.

true

The first step in an effective change process is to carefully plan for the change.

true

The primary incentive for a business to produce goods or services in the U.S. is profit.

true

The results of strategic planning are goals and strategies that guide the entire business

true

The three major elements of effective organizing are the division of work, the facilities and working conditions, and the employees.

true

The top managers in a business are involved in planning, but first-level managers such as supervisors are not.

true

To be successful, a manager must guide a business to react quickly to the changing nature of society.

true