BADM 103 Quiz 2 Ch. 3-8

Hu manages a convenience store. He is responsible for scheduling employees, receiving and stocking inventory on the shelves, counting the cash, making deposits, and reconciling the cash receipts against the contents of the registers. He likes working with the employees and doesn't mind handling the inventory, but he does not enjoy dealing with the cash and cash receipts. Of the resources Hu must oversee, which one does he least enjoy?

Financial resources

Which of the following is an advantage of participative leadership?

Employees may be motivated by a sense of ownership in decision making.

An informal organization can be shown on a formal organization chart.

False

CAD stands for computer-assisted development programs.

False

Older, larger firms producing and selling various products base departmentalization on function.

False

The control function includes three steps: setting standards, measuring performance, and recycling the system.

False

The main reasons small businesses fail are poor management skills on the part of owners, inadequate funding, and poor planning.

True

Which of the following involves talking, listening to others, and writing?

Communication skills

During the period after World War II, the United States was the most productive country in the world for approximately _______ years.

30

Andrew Cherng was born in China and immigrated to the U.S. to go to college. With his Myanmar-born wife Peggy, they opened their first Panda Express fast-food restaurant, which grew into a chain with more than 2,000 restaurants worldwide. Their story is illustrative of the fact that one out of every _______ U.S. businesses is owned by an immigrant.

6

The average life for an SBA-guaranteed business loan is _______ years.

8

Miles has formal power in the TeaTime, Ltd. organization while Noah has informal power. One of the primary differences between Miles and Noah is that Miles has _______ within the organization while Noah does not.

Authority

Bank of America has one group of loan officers who handle consumer loans and another group who work in the commercial loan area. Grouping work units this way is known as departmentalization by _______. function

Customer

If managers of Siete Foods observe that their top-selling product's market share has not reached the 50 percent they specified at the beginning of the year, what should they do?

Define the problem

Only a few of the many ideas that are considered by a firm's research and development employees ever reach the production stage. For those that do, which of the following steps would come next?

Design Planning

Erica is the founder of a small baking business. Things seemed simple at first when Erica was also the only employee, but now there are three employees, and the kitchen is often so chaotic that some goods have been burned, creating waste, or not baked enough, which makes customers unhappy. One of Erica's employees tells her she needs to divide the baking tasks and assign them to specific employees. Erica's employee says that such specialization has many benefits, which include all the following except _______.

Erica should be able to do every job because it is her company with her name on the door.

Crosstime Traffic is a large technology-focused corporation with operations around the world. The once great firm now seems to take days to make decisions, its costs seem excessive, and it is being outperformed by more nimble competitors. Its chief executive, Nigel, is studying options to improve its performance. What is one step that you could suggest to Nigel to improve Crosstime Traffic's performance?

Flatten its structure

Alan manufactures solar-powered automobiles. He has been having difficulties controlling his inventory. He has experienced inventory shortages and inventory overages. He has considered several alternatives to address these issues but is uncertain which one would be most effective. Which of the following would be most effective in alleviating the inventory issues Alan is experiencing?

He could use materials requirements planning.

Which resources are most important to an organization?

Human

According to your textbook, which of the following is responsible for at least 25 percent of inventions and entrepreneurship in the U.S.?

Immigrants

Darius is in charge of examining the quality of work in process at a furniture factory. Darius's duty is referred to as _______.

Inspection

Richard Branson, founder and long-time chief executive officer of Virgin Airlines and now Virgin Galactic, is known for inspiring and motivating his employees. He believes strongly in listening to employees, praising them often, training them well, and treating them well, knowing that doing so motivates employees to stay loyal and customer focused. Branson has good _______ skills.

Interpersonal

Which of the following involves the capacity to deal successfully with people internal and external to the organization?

Interpersonal

Which of the following is an advantage of departmentalization by product?

It facilitates the integration of all activities associated with each product.

Which of the following organizational structures offers the clearest chain of command?

Line

Which of the following would probably not be efficient in a medium or large organization?

Line structure

In a service industry such as a package carrier, the _______ of the conversion process is usually small or none at all.

Magnitude

Which of the following types of managers oversees systems that relate to transactions between an organization and its customers or clients?

Marketing

Airplanes, boxes, and trucks represent _______ resources for UPS.

Material

If Target states that it is going to spend $100 million in advertising in the upcoming year to help increase its market share, it is explaining part of its _______ plan.

Operational

When choosing suppliers, which of the following is the least critical factor?

Schedule

Cosima works for a manufacturing company. She meets with her boss once a week to review how well the company is doing with regard to the tactical and operational plans she has made. At the end of each day, she meets with the managers who coordinate and supervise the activities of operating employees. What kind of manager is Cosima?

She is a middle manager.

The stage of team development in which teams begin to develop goals is called _______.

Storming

Yan is struggling with some aspects of managing her small business. Although you can give her some advice, you realize that what she really needs is an experienced mentor, perhaps another Asian-American woman with management experience. Where should you direct her to find such a mentor?

The Service Corps of Retired Executives

Which of the following organizations can help your small business sell overseas?

The U.S. Export Assistance Centers

An organization is a group of two or more people working together to achieve common goals.

True

Equity financing involves raising funds by promising investors a share of future profits and an ownership stake in the business.

True

Productivity is a measure of output per unit of time per worker.

True

Statistically, one can expect about 50 percent of new businesses to fail within five years of their founding.

True

Redwood Capital is an organization that invests in small high-tech businesses owned by people of color with the expectation that its investments will grow and yield high returns for its team. What kind of organization would Redwood Capital be classified as?

Venture capitalist

To determine the proper size for its new restaurant in Denver, operations managers and marketing managers for Red Robin Gourmet Burgers and Brews had to work together to decide on the restaurant's _______.

capacity

Gear Up Nina has been working for a local small business called Gear Up for the last three years. It is a retail business that sells sporting goods equipment. When Nina started working there, she noticed that the business wasn't doing so well and observed several things that didn't bode well for the business's future. Nina has been thinking of starting her own small business because she feels she has learned much through working for Gear Up. Knowing that Nina was studying business, her manager asked her to create a business plan for Gear Up. The manager hoped that this plan would put things into perspective to help the company do better. After creating the plan, Nina suggested that Gear Up contact a group of senior and graduate students in business administration who provide management counseling for small businesses. Nina wants to make sure that her leaving does not become the cause of the company going under. Refer to Gear Up. In preparing the business plan, Nina would have incorporated all of these components except _______.

government regulations

Innovative ways to do a job with less effort and at lower cost is at the root of the _______.

increases in productivity for the past two hundred years

In a furniture factory, one worker cuts the wood according to the design, another nails and glues the furniture together, and another stains and finishes the furniture. This is an example of _______.

job specialization

Technology that is characterized by low initial costs and high operating costs is best described as _______.

labor-intensive

As a businessperson planning to open a new small business, you know that the business plan should not contain _______.

pages and pages of detailed facts and figures

American major appliance manufacturers have recently adopted a strategy that calls for better quality in their products. One method of implementing this strategy at the operations level is through _______.

quality circles

Melissa would like to open a small business that is categorized as being in the distribution industry. To do this, she could open a _______ establishment.

retail, wholesale, transportation, or communications

Southwest Airlines transports people across the country for a fare. If Southwest doesn't sell a seat on a particular flight, that seat will remain empty for the duration of the flight and the airline will have no income from it. This relates primarily to the fact that _______.

services are consumed immediately and therefore cannot be stored

The number of workers who report directly to one manager is called _______.

the span of management