business final

A person who is involved in the process of creating and managing a business to achieve his or her desired objectives is engaged in

entrepreneurship

According to Hezbergs theory what is a motivational factor

recognition

Job ________ reflects a flexible scheduling strategy.

sharing

What is a major difference nice between the theory X and the theory Y views of management

theory Y takes i to account peoples needs cor companionship, esteem, and personal growth, whereas theory X does not

Small businesses may obtain funding from their suppliers in the form of a ______ which means that suppliers allow the business to take possession of the needed goods and services and pay for them at a later date or in instalments

trade credit

all economic systems must address three important issues one of which is how the goods and services will be produced

true

A business that lacks funds to operate normally faces a problem known as

undercapitalization

______ is considered to be the shortest path to failure in business

undercapitalization

As an advantage of being a small business owner, independence means

you get to be your own boss

McGregors Theory Y assumes that workers

naturally like to work

_____ is the primary goal of business

profit

rewarding appropriate behavior tends to be more effective to modify behavior in the run than punishments

true

A challenge associated with the sharing economy is

whether workers are viewed as independent contractors or employees

advertising, personal selling, coupons, and sweepstakes are elements included in the _____ aspect of marketing activities

promotion

The focus of all marketing activity is to

satisfy the needs and wants of consumers

what is true regarding the responsibilities of the people involved in a business

The primary responsibility of providing financial resources for the operation of the business lies with the business owners.

The approach that suggests that imagination, ingenuity, and creativity can help solve organizational problems, but most organizations do not make adequate use of these characteristics in their employees is

Theory Y

The approach that suggests that imagination, ingenuity. and creativity can help solve organizational problems but most organizations do not make adequate use of these characteristics in their employees is

Theory Y

Banks and other financial institutions can grant a small business a_______ which is an agreement by which a financial institution promises to lend a business a predetermined sum on demand

line of credit

_______ gather information and conduct research to determine what customers want. They also plan and develop products and make decisions about how much to charge for their products and when and where to make them available

marketers

According to ______ how much people are willing to contribute to an organization depends on their assessment of the fairness of the rewards they will receive in exchange

equity theory

What theory is based on the idea that employees try to maintain fairness or balance between inputs and outputs as compared to others in similar positions

equity theory

According to Maslows hierarchy a person buying insurance with income protection is attempting to satisfy physiological needs

false

According to maslows hierarchy a person buying insurance with income protection is attempting to satisfy physiological needs

false

The focus of all marketing activities is the successful transformation of resources into goods and services

false

The hawthorne studies found that money was the primary motivator for employees

false

While ethical behavior can enhance a company's reputation, it often has a negative effect on the company's financial performance.

false

the hawthorne studies found that money was the primary motivator for employees

false

Businesses differ from nonprofit organizations in that a business's focus is on

profit

All the groups that have an interest in an organization's success and outcomes are known as the organization's

stakeholders

McGregors Theory X assumes that workers

avoid responsibility

In the manufacturing sector small businesses sometimes have an advantage over large firms because small businesses

can customize products to meet specific customer needs and wants.

What is a difference between high technology businesses and other small businesses

High technology businesses require greater capital and have higher initial startup costs than other small businesses.

What is an advantage of allowing employees to telecommute

It helps reduce overhead costs for businesses.

What is the purpose of the small business administration

It offers managerial and financial assistance to small businesses

what is true of wholesalers

Wholesalers are extremely important because of the marketing activities they perform

A compressed workweek is

a four-day or shorter period in which employees work 40 hours

What is an advantage of using a flex time schedule

it improves the ability to recruit and retain workers who wish to balance work and home life

According to Hezbergs theory the absence of which factor may be a potential source of dissatisfaction and high turnover

job security

Maslows theory maintains that

the more basic needs at the bottom of the hierarchy must be satisfied before higher-level goals can be pursued.

rewarding appropriate behavior tends to be more effective to modify behavior in the long run than punishments for unacceptable behavior

true