BUS 101 TRUE OR FALSE
Established small businesses are defined as companies that have been in business at least fifteen years and employ between 50 to 500 employees.
False
Ethical decision making begins in the marketing department.
False
Mentoring is a form of off-the-job training.
False
Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.
False
Some global corporations are large enough to treate major changes in the external environment.
False
Strategic planning is long-range, formulated by top management, and made as if the company operated in a vacuum
False
Telecommunications equipment Manufacturers in the United States sell their products to people who live in Canada. To Canadians, the telecommunications equipment is an export.
False
The lowest level of management is engaged in strategic planning process.
False
The major difference between a good and a service is how the producer uses the factors of production to create each
False
The reason that Castle and Cooke processes and packages Dole pineapple products in Hawaii is more than likely because of low energy costs,
False
The short-range, detailed planning that focuses on current operations is called functional planning.
False
The sole proprietorship is considered a legal entity; therefore, it is taxed separately from the owner.
False
The time that an employee spends on a particular job determines his or her specialization of labor.
False
The tax that the United States imposes on imported carbon steel products is called a tariff.
True
Theory X managers view their workers as untrustworthy and unmotivated.
True
Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical benavior
False
Facilities layout is all-important in production lines but it is not important in service-oriented businesses.
False
For partnerships to be legal, they must be established in writing.
False
Human resources managers have yet to find any use for Maslow' hierarchy of needs.
False
If the company wants employees to take ethical training seriously, the training should not include games
False
If the sole proprietorship acquires a legal business name, the owner then has limited liability.
False
In a limited partnership, all of the partners have limited liability.
False
Job description refers to the specific location or office where a job is done.
False
Labor, as a factor of production, relates only to the production of manufactured goods; services are not included.
False
Low volume, short production runs, and high-variety production are characteristic of the continuous process.
False
Managerial hierarchy refers to the number of subordinates overseen by each supervisor
False
One of the problems with setting up groups is the strong likelihood for the organization to experience decreased productivity.
False
Operations management refers to the role that computers play in the production process.
False
Organization charts show the formal and informal relationships among people, jobs, and departments.
False
Process departmentalization is a grouping of jobs by activity, such as marketing, finance, and production.
False
Process layout is almost always designed as a continuous, assembly-line layout.
False
Registration procedures for incorporation are uniform from state to state across the US.
False
Scientific management focused primarily on how human behavior and relations affect organizational performance.
False
Since the development of affirmative action programs, companies no longer require physical examinations as part of the selection process.
False
The Hawthorne effect is used to describe the individual reaction and not that of the group.
False
The Theory X approach to management builds on the idea that worker and organizational interests are congruent.
False
The exchange rate is the interest rate that foreign banks receive when borrowing money from the United States
False
The first step in starting your own business is the creation of a unique marketable idea.
False
The first two stages in the selection process are the initial contact and the preliminary interview.
False
The matrix structure is a combination of a line and a staff organization.
False
The philosophy of utilitarianism is used to explain why restaurants, theaters, and hotels should make themselves handicapped accessible.
False
To be a useful code of ethics, the code should offer broad policies and procedures rather than detailed rules
False
When workers in a union elect their officers to represent them, it is an example of division of labor.
False
A business is an organization that strives for a profit by providing goods and services desired by its customers.
True
A company that uses departmentalization groups jobs under the authority of one manager for the purposes of planning, coordination, and control,
True
A disadvantage of a partnership is that any partner may have to pay all of the debts of the company regardless of who incurred the debts.
True
A job shop uses an intermittent production process.
True
A study of the tasks required to do a job well is called a job analysis.
True
An entrepreneur is a person who opens and manages his or her own business.
True
Arranging a firm's human and material resources to carry out plans is called organizing,
True
Business owners and managers have a great deal of control over the internal environment of business, which covers the day-to-day business decisions.
True
Corporate officers are elected by the board of directors?
True
Cross-functional tears are made up of employees from about the same hierarchical level but different functional areas within the organization.
True
Dividing up the tasks (division of labor) is an important part of organizing
True
Entrepreneurs are people with vision, drive, and creativity, who are willing to take the risk of starting and managing a business to make a profit.
True
Entrepreneurs typically are innovators who start companies to pursue their ideas for a new product or service.
True
Factors of production are common to all productive activities, regardless of the economic system
True
Having a global vision simply means having a willingness to sell outside one's national borders if, and when, the opportunity arises
True
Human resource management is the process of hiring, developing, motivating, and evaluating people in order to achieve organizational goals.
True
Human rights include an individual's right to life, to freedom, and to the pursuit of happiness.
True
International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs.
True
Leadership is the process of guiding and motivating others toward the achievement of organizational goals.
True
Lumber mills are located near the forests in the Northwest to save shipping costs and to be near their raw material.
True
Management is the process of guiding the development, maintenance, and allocation of objectives.
True
Many people consider knowledge to be a fifth factor of production.
True
Micropreneurs are entrepreneurs who start small and plan to stay small.
True
Mines in Colombia produce emeralds and sell them to jewelers in the United States. To Colombia miners, emeralds are an export
True
More than half of small businesses have between one and four employees.
True
One of the disadvantages of the sole proprietorship is that the owner has unlimited liability.
True
People who combine natural resources, labor, and capital in a profitable venture are called entrepreneurs.
True
Planning is the process of deciding what needs to be done to achieve organizational objectives; identifying when and how it will be done, and determining by whom it should be done.
True
Process layout is almost always designed as a continuous, assembly-line layout.
True
Production converts inputs into outputs by changing the inputs in some way.
True
Recruitment is the attempt to find and attract qualified applicants in the external labor market.
True
Scientific management is based on economic incentives and the premise that there is "one best way" to perform any job.
True
Service companies generally use a repetitive or intermittent production process rather than the continuous process.
True
Site selection is a part of production planning.
True
Social responsibility is a voluntary obligation.
True
The Theory Z approach emphasizes long-term employment.
True
The difference in value between a country's imports and exports is called its balance of trade.
True
The distributive process by which the burdens and rewards that society has to offer are shared varies from society to society.
True
The most basic responsibility of all businesses is its economic responsibility.
True
The opposite of free trade is protectionism.
True
The selection interview is designed to test an applicant's communication ability and motivation.
True
The skills, knowledge, and abilities a person must have to fill a job are spelled out in a job specification,
True
The standards used to determine actions acceptable to the group are called norms.
True
Maslow' hierarchy of needs is a motivation theory.
True
One of the basic functions of management is controlling.
True
Entrepreneurs, as a general group, dislike risk taking.
False
Not-for-profit organizations have the same goals as for-profit organizations.
False
internal labor market is made up of all employees in an industry
False
A good manager is never faced with unforeseen problems
False
A positive aspect of opening a small business is that it takes very little management skill because it is small.
False
According to Maslow's hierarchy of need, the most basic needs are the social needs.
False
According to the principle of absolute advantage, each country should specialize in the products that it can produce most readily and cheaply and trade those products for products that foreign countries can produce most readily and cheaply
False
All businesses approach ethics the same Wav
False
Armenia had a favorable balance of trade in 2018 when it exported $800 million in goods and services and imported $1.5 billion.
False
Articles of incorporation usually specify the life of a corporation as a certain number of predetermined years.
False
As a factor of production, capital includes money.
False
Dissolving a partnership is easier than dissolving a sole proprietorship.
False