VGCA-175-A chapter 19: Professional Management and the Small Business

Writing a "to-do" list is often considered what for small business owners?

a recommendation

Many small firms are reluctant to use outside advisors for all of the following reasons EXCEPT for which one?

an outsider might steal the firm's ideas

The first step in time management should be to perform which activity?

analyze how much time is normally spent on various activities

In which type of situation does each person have one supervisor to whom they report and look to for instructions?

line-and-staff organization

A firm's path to the future is spelled out in a document called by which name?

long-range plan

The process of developing and engaging in mutually beneficial informal relationships is called by which name?

networking

Typically, a small business owner spends much of the work day engaged in which activity?

on the front lines

According to Goleman and his colleagues, effective leaders make very limited but skillful use of which of these two leadership styles?

paragon and general

Which leadership style seeks to build consensus among employees through participation?

populist

The chain of command is which type of channel of communication in an organization?

vertical

Research finds that in later stages of growth, the founder adopts which approach?

leader

The entrepreneur becomes a player-coach, which implies extensive participation in the operations of the business, in which stage of growth of the firm?

2

A major milestone is reached in which stage, when an intermediate level of supervision is added?

3

As a manager, Mary goes beyond solicitation of her employees' opinions and ideas by increasing their authority to act on their own and to make decisions about the processes with which they are involved. Mary is said to be using which of these tools?

empowerment

Sources of management assistance include all of the following EXCEPT for which one?

friends from competing firms