MG 350 Exam 2

Which of the following statements is true about sources of financing for entrepreneurs?

lending institutions such as banks are more likely to help finance the purchase of an existing business than a new business

Which of the following is an advantage of buying an existing business?

A. Established a supplier relationships

Who among the following is most likely to be an entrepreneur?

E. Mariam has taken a loan to fund her new café

A __________ is privately owned by one individual or a group of individuals and has sales in assets that are not adequate enough to meaningfully influence it's

E. Small business

When compared to flat organizations tall organizations:

Foster fewer communication problems

A(n)_______ is a person who actually conceived of and develops the new idea, product, or service by means of the creative process.

Inventor

One of the benefits of job specialization is that:

It Significantly increases employee satisfaction

When organizational changes involves planned alternation of work sequence or work activities, the change primarily occurs in the area of _____.

Technology and operations

Employment requirements such as test scores and other qualification are legally defined as having a(n)______on minorities and women when such individuals meet or pass the requirement as a rate less than 80% of the great majority group members.

adverse impact

Service businesses:

appeal to the talent for innovation typified by many small enterprises

Teresa, a recruiter, needs to know basic information such as the name, educational background, and the work experience of a candidate she will be interviewing. Teresa can find this information in the candidates:

application blank

Which of the following is the first step in human resource planning?

assessing external and internal trends

The family medical leave act of 1993 requires employers to provide up to ______ your family and medical emergencies

12 weeks unpaid leave

Performance appraisal system in which managers are evaluated by everyone around them - their boss, their peers and their subordinates is known as:

360-degree feedback

The age discrimination in employment act for bids discrimination against workers above which of the following ages?

40yrs

When an entrepreneur pays a parent company and monthly percentage of the gross income of her business in return for using the parent company's name and product it is known as:

A franchise agreement

The re-engineering process can be made effective by:

Adopting a hands-off leadership style

Managers can overcome resistance to change by:

Announces the change much in advance.

Venture capital companies:

Are federally licensed to grant the loans to businesses with more than 20 employees.

Mechanistic organization

Are most frequently found in stable environment

Reactive changes:

Are preferred to plan changes by successful organizations

Which of the following is a possible diagnostic activity in organization development?

Attitude surveys

________is power that has been legitimized by the organization

Authority

Nokia and Samsung makes cell phones. They operate in the_______industry

B. Manufacturing

Jason worked as a manager for 30 years in a leading corporation who now works with the small business administration. As he wishes to help small businesses, he provides free consultation and assistance to new entrepreneurs. Jason is most likely to belong to:

B. Small business management consultant

In a _____, the entrepreneur summarizes the business strategy and how the strategy is to be implemented.

Business plan

The_______industry provide a higher return on time invested than any other industry group.

C. Service

Jason has started a restaurant of his own. He makes all the major operational decisions and is completely liable for the profits and losses the roof restaurant makes. Jason is most likely to be a:

E. Entrepreneur

_______is the process of systematically delegating power and authority throughout the organization to the middle and lower level managers.

Decentralization

Which of the following exemplifies the first step in the comprehensive organization change model?

Determining the probable causes of a recently detected drop in the level of employee satisfaction.

The normal process within an organization that leads to a system decline is known as______.

Entropy

The top management at American ink. Recently initiated an employee motivation drive to improve employee morale and intern decreased turnover rates. It has now commission a statistics firm to check the effect of its initiative on the employee morale. Which type of the comprehensive approach to change is illustrated in this scenario?

Evaluation and follow-up

Creating different teams or finance, production, and marketing is consistent with_______departmentalization.

Functional

The______design is essentially a holding company that results from unrelated diversification

H - form

Tall organizations:

Have more managers than flat organizations

The most important element of a business plans financial plan is the cash budget, which shows:

How much money is needed to start the business and it keep it operating

The set of activities directed at attracting developing and maintaining an effective workforce is called:

Human Resource Management

_________Is the extent to which an organization is broken down into subunits

Integration

The top executives at Delta Inc. have decided to reorganize the corporation from product divisions into geographical sectors. This is a _____ force for change.

Internal

In________,the jobs do not change, but instead workers move from job to job.

Job rotation

Jimmy owned an ice cream parlor. He designed a schedule for the different task the employees have to perform in order to prevent monotony at work. According to the schedule if an employee makes waffle cones on one day, he serves ice cream the next day and clear the tables on the day after that Jimmy is using the_________approach at his ice cream parlor.

Job rotation

_______is an organization development (OD) technique that helps employees formulate their personal goals and evaluate strategies for integrating their goal with the goals of the organization.

Life and career planning

Which of the following factors is responsible for the failure of a small business?

Managerial inexperience

Delta LLC. Purchases at raw materials such as leather and canvas from suppliers and processes them into finished shoes. Delta LLC. Operates in the _______ industry

Manufacturing

A wide span of management in a flat organization may result in a manager having________

More administrative responsibility

The term span of management refers to the:

Number of people reporting to a particular manager

Substantive modification to some part of an organization is known as_____.

Organization change

A change in organizations culture is an example of change in the area of:

Organization structure

To overcome resistance to change, top management of a company discusses with its employee policies and procedures that it proposes to bring in and also seeks their involvement in the change process. This scenario illustrates the_______technique that helps reduce resistance to change.

Participation

When a firm decides to decrease the number of first line managers it has, and thus increasing the span of management the first line managers, it is making a change in the area of:

People

When compared to tall organizations, flat organizations:

Place more supervisory responsibilities on managers.

Which of the following forces for change is present in the task environment of an organization?

Prices at which suppliers sell raw materials

A business plan is most likely to contain:

Production strategies

Small businesses:

Provide big businesses with many of the services they need.

Job enrichment:

Requires delegation of authority

Pet care salons skin clinic's in daycare centers are all examples of businesses operating in the________industry

Service

In the re-engineering process, the first step involves:

Setting goals and developing a strategy

Which of the following is a true statement about small businesses and large businesses?

Small businesses are about as likely to innovate as large businesses

Which of the following is an accurate comparison between tall organizations and flat organizations?

Tall organizations foster more communication problems and flat organizations

Watches.com, an online watch store, recently adopted a new enterprise resource planning (ERP) system to help keep track of the company's inventory and to deliver customers' orders on time. The company's adoption of the new ERP system reflects a change in the area of_______.

Technology and operations

According to the job characteristics approach, tax identity is

The extent to which a worker does a complete portion of the total job

Organizational size is defined as:

The total number of full-time or full-time equivalent employees in an organization

A virtual organization:

Typically has only a handful of permanent employees

Top managers at Phoenix inc. Are all computer engineers and are highly regarded by other companies. They are frequently approached by executive search firms with information about openings at other companies the managers are examples of:

knowledge workers

The_______of an organizational life cycle is characterized by growth and the expansion of organizational resources.

Youth

A taxi company has a policy that it will never hire women drivers. This scenario illustrates:

a direct form of discrimination

Hospital refuses to employ male nurses. This illustrates

a direct form of discrimination

The company has all of its candidates who are qualfiable for promotion attend a five day evaluation session during which they take a battery test, interviews, and perform in stimulated works scenarios. The _______ method is used for the selection process in this scenario.

assessment center

During a job interview, Sarah asked the HR manager if the company would provide her a family insurance or retirement plan she was discussing the _______that companies generally offer

benefits

_______Is the financial rumuneration given by an organization to do employees in exchange for their work

compensation

In the business world, the term_______is generally used to refer to demographic differences among people - differences in gender, age, ethnicity, and so forth

diversity

Advertising campus interviews employment agencies and union hiring halls are all ________ methods

external recruiting

Organizations with a diverse workforce are most likely to _____when compared to less diverse organizations

have higher levels of productivity

According to the results of the class study, employee participation:

increases productivity and satisfaction

An attempt to assess the job related to other jobs is known as:

job evaluation

You are reading the document that says that a job applicant must have good writing skills, be a citizen of the United States, and have a degree in management. You are reading a:

job specification

Ken is a newly hired a police officer. He has been asked to spend a workday with a more experienced officer to learn about paperwork, how to handle accident scenes, how to interact with people, and other duties that he will be expected to perform. Which of the following concepts as illustrated in this scenario?

on the job training

The CEO of redd inc. Need to know the names of the line managers in the company who will soon be ready to take up positions in middle management. The CEO can obtain this information from the:

replacement chart

Johnson recently launched a new electronics store invert Fremont. The store sells smart phones laptops mobile assessor he's from companies like Apple Samsung Sony in Phillips. The store operates in the_____industry.

retail

Ryan has started a store where customers can find a wide range of organic products manufactured by different companies. Ryans business Is in the______ industry

retail

Which of the following is true of a small business?

small businesses have a strong presence in the economy of the United States

Organizations with a diverse workforce:

tend to have conflicts

A job description is most likely to provide information about:

the tools, materials, and equipment used to perform the job

Which of the following is an advantage of the web based training methods

they can be easily updated and revised

In human resource management,_______usually refers to teaching operational or technical employees how to do the job for which they are hired.

training