BUS ch. 7, 9, 12 and exam 3

Delta Airlines 48 and General Motors 49 both have profit-sharing arrangements with employees. What is a profit sharing plan?

An employee's profit share depends on the company's operating profit for the year. If pro

business grapevine is best defined as:

An informal communication network

Which of the following is an example of a company that would be difficult to start due to the high upfront costs?

Automobile manufacterer

what document identifies the goals of your proposed business and explains how these goals will be achieved?

Business plan

Although most recognizable in military organizations, all organizations have reporting and authority structures that put people in charger of other people. This is known as..

Chain of Command

performance feedback in the performance appraisal process is most effective when managers

Communicate tactfully and honestly with employees being appraised

When a group of people collectively provide capital for a product, it is called:

Crowd funding

What agency enforces federal employment laws?

EEOC

In a flat organization structure

Efficiency and productivity are improved

A manager who coordinates the activities of operating employees is a(n) ____ manager.

First-Line

a company that organizes by grouping together people who do the accounting or marketing uses a

Functional organizatio

Nike has found that customers in different part of the world have different preferences when it comes to favorite sports and sports fashion. What divisional structure would allow nike to most easily adapt to their customers?

Geographcial

Ford has a divisional structure. It has tried to standardize product platforms globally but adapts offerings in specific regions to better serve casting preferences. What kind of divisional structure does Ford have?

Geographical

Aside from contributions to our general economic well-being, founder of small business also contribute to growth and vitality in specific areas of economic and socioeconomic development. Which of the following is something that small businesses are NOT known for doing?

Hindering competition

all of the following are common reasons for building and supporting a diverse workforce EXCEPT:

It is bad for business.

The difference between part-time work and job sharing is that:

Jobs that are classified as part-time are jobs that can be done in a shorter amount of time than that of a full-time job, whereas job sharing creates one full-time position out of two part-time employees

a type of business that people enter into for the sole purpose of providing an income for themselves is known as:

Lifestyle business

Omar is learning about employee policies & company benefits. He is most likely attending in what kind of training?

New employee orientation

All of the following are sources of external recruiting EXCEPT:

Promotion of current employee

Common job titles associated with ____ management include president, vice president, and chief executive officer.

TOP

Retirement express Enterprise expecting a significant amount of retirements over the next five years. The owner, Susan, has asked the HR division to forecast what that means for future hiring needs. Which of the Following statements is most accurate?

The first step of the forecast will be to identify the human resources currently available in the organization.

a performance evaluation can be used for all of the following EXCEPT:

To discourage some employees from seeking new opportunities

Businesses fail for all of the following reasons, EXCEPT:

ability to handle growth

title VII of the civil rights act of 1964 addresses the isuee of a workplace discriminationn based on all of the follownig except

age

Johnathans actions may be in violation of which federal employment?

age discrimination in employment act of 1964

on average, about 30% of a workers salary goes toward his or her quizlet

benefits

What is the term where decision making is concentrated at the top of he organization?

centralization

Koby started a candle manufacturing company in college and is trying to distinguish his business idea from other similar ideas. His next steps are to figure out how to manufacture the candles, cheaper, faster and better than his

competition

in this type of financing the entrepreneur might offer a form of appreciation in exchange for funds

crowd funding

G.E's division that focuses on medical equipment like MRI machines is what kind of division?

customer

Building an organizational structure engages managers in two managers in two activities, job specialization and ____

departmentalization

paul wants to know about the skills and experience. needed to qualify for a management position with walmart. thus, he should call and ask HR specialist for a job

description

a company that organizes by grouping together people who do the same jobs, like accounting, or marketing, uses a:

divisional organization

someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it is known as:

entrepreneur

The Equal Pay Act applies directly to:

equal pay for equal work.

Telecommuting means that you regularly work. from home and are connected to the office by computer, fax, and phone. ll of the following re benefits EXCEPT:

feeling isolated due to less social interaction in the workplace

where do entrepreneurs most often start to raise money for their startup business

friends and family

what sector includes companies. in manufacturing construction and agriculture?

goods producing

which sector includes companies in manufacturing, construction and agriculture?

goods producing

a group of companies that compete with one another and sell similar products is a(n):

industry

An informal communication network is one that :

is created through unofficial relationships among organizational members.

which of the following is considered a disadvantage of hiring interna; candidates for an open position in an organization?

it limits potential for new ideas and skills to come into the organization

which of the following is NOT one of the three characteristics of entrepreneurial activity

job creation

All of the following contribute to employee satisfaction EXCEPT:

job repetition

the KSA's or knowledge, skills and abilities to perform a job are part of a

job specification

which of the following is not a. disadvantage of business ownership

learning opportunties

Why might a large organization choose to organize into divisions?

managers can oversee smaller divisions more effectively than an entire company

the process of attracting qualified job applicants is called

recruiting

what can an organizational chart tell you?

reporting relationships in an organization

entrepreneurs always work with a degree of uncertainty and can't know the outcomes of many of the decisions they have to make. Which characteristic of. entrepreneurial activity does this best align with?

risk taking

After the purchase of a franchise, which of the following payment would be required after initial payment?

royalty fee

what is the often complicated, time-consuming process that involves evaluating candidate qualifications and choosing the 'best' candidate?

selection

what is the name of the government agency that provides many kinds of support for small businesses including information and funding assistance?

small business administration

which is the m most common and riskiest option for starting a business

starting from scratch

Since they typically invest more than other, ___ tend to have higher expectations for a return on their investment.

venture capitalist

Employment tests can provide valid information about all of the following except:

work habits