Business Study Questions 5-8

Which of the following statements about the committee structure is true?

Committees can be slow to reach a decision.

_____ is the practice of giving a great deal of authority and decision-making freedom to lower-level managers.

Decentralization

Which of the following statements about the employee selection process is true?

During the initial job screening, the applicant usually completes an application form and has a brief interview of 30 minutes or less.

Minorities are not interested in becoming entrepreneurs.

False

The virtual corporation is a network of independent companies, including suppliers, customers, and competitors that locate in the same building to share skills, costs, and access to one another's markets.

False

provides new employees with information about company policies, salary and benefits, and parking. It also includes work rules and performance expectations.

Orientation

A company with an employee demographic profile that is similar to its customers can often gain a competitive advantage.

True

Performance appraisals are used often to make decisions about pay raises, training needs, and advancement opportunities.

True

The number of people or subordinates that a manager effectively controls and directs is called the manager's span of:

control

Specialization refers to the:

degree to which tasks are subdivided into smaller jobs

A well-written business plan should contain:

executive summary or company overview a marketing plan a vision and mission statement a management plan

Many classic entrepreneurs are _____ who start small and plan to keep their business small.

growth entrepreneurs

The Cooke family has worked for various General Motors's divisions for over four decades. Bennett Cooke works at the Cadillac division. Rondella Cooke works at the Buick division. Their son Tyrone works at the Corvette plant, and their daughter Niome works at the GMC plant. The Cooke family could tell you that GM is departmentalized by:

product

In a matrix structure, an employee could report to both a functional manager like the VP of Sales and a Project Manager.

true

In deciding how to pay workers, the firm must be concerned with the salaries paid by competitors.

True

Job fairs and advertising are two types of external labor market recruiting.

True

International trade specialists that buy goods at a discount from small businesses and resell them abroad are called:

export trading companies

The Small Business Administration (SBA):

helps people start and manage small businesses

During a typical employee performance appraisal, the employee's supervisor evaluates the employee's work in terms of:

his or her contribution relative to expected performance

The first step in starting your own business is (from Table 5.6 in the PowerPoint Slides):

identify your reasons for starting a business

A(n) _____ organization is a network of connections and channels of communication based on the informal relationships of individuals inside an organization.

informal

The goal of ______ is to redesign business processes to achieve improvements in cost control, product quality, and customer service.

reengineering

Collective bargaining:

is the process of negotiating labor agreements

One of the documents that help human resource planners find the right person for a specific job is a list of tasks and responsibilities required of the job. This document is known as a: A. job worksheet

job description

The typical problem-solving team:

meets on a regular basis to share information and discuss ways to improve processes

Which of the following is a reason why small business thrives in the United States?

rapidly changing technology

Michael Bronner made a killing in the direct marketing business as the cofounder and CEO of Bronner Slosberg Humphrey, a wildly successful direct-marketing firm. His newest venture, Upromise Inc., enlists some of America's largest corporations to help families pay for college and is extremely successful. The 40-year-old Bronner will more than likely start at least one more new company before he retires because Bonner is a(n):

multipreneur

A(n) _____ organization is characterized by a relatively high degree of job specialization, rigid departmentalization, many layers of management, narrow spans of control, centralized decision making, and a long chain of command.

organic

Which of the following is a characteristic of the entrepreneurial personality?

Ambitious