Business

_____ are organizations formed by individuals or businesses with similar interests to achieve greater economies of scale and economic power through collective ownership.

Cooperatives

Division of labor refers to:

the degree to which tasks are subdivided into smaller groups ?

Why do companies engage in outsourcing?

to create a competitive advantage that cannot be replicated by their competitors ?

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.

mechanistic

Ottens Flavors, Philadelphia, announced its combination with MK Flavors & Co., Mexico City. The Mexican operation will offer the U.S.-based company an increased market presence in Central and South America. The new company will be renamed MK Ottens Flavors. MK Ottens Flavor was created through a(n):

merger

One of the disadvantages of the matrix structure is:

?

Croutakie seemed like a great idea. Chef Leo Nyami and Sara Rice decided to take advantage of the popularity of shitake mushrooms and create some shitake mushrooms products that could be sold to restaurant patrons and other gourmets through their new company. The mushrooms are expensive, and there were other unexpected financial problems, so Nyami and Rice asked Bill Ng to become a limited partner. This means that Ng:

? is limited in the amount he can invest

Which of the following is a disadvantage for the fast-food franchisee?

? royalty fees

______ is the sharing of job duties and authority with subordinates.

Delegation of authority ?

_____ is the process of dividing the work and assigning tasks to workers.

Division of labor

Which of the following is NOT a key attribute of the virtual corporation?

The virtual corporation creates trust among its members.

IBM purchased MRO Software Inc. for $740 million. MRO was a niche provider of software and services to help customers including nuclear power plants and oil companies. IBM, plans to fold MRO into its software unit. This is an example of a(n):

acquisition

Which of the following demographic groups is having the greatest impact on the growth of the franchising industry?

baby boomers

A _____ merger brings together companies in unrelated businesses to reduce risk.

conglomerate

When Linda McAnem began Stirya, a New York-based computer services company, she ran it as a sole proprietorship. As a sole proprietor, McAnem:

found the business to be easy and inexpensive to form

Three Sisters Specialty Foods, owned by Judith Coker, Millie Humphreys, and Jade Watson, sells eggless cake mixes for people on a restricted diet. Coker recently purchased an industrial grade mixer without conferring with her sisters who were upset when they learned that they were all three liable for the payments on the mixer. Three Sisters is an example of a:

general partnership

Paul Hyatt owns and operates DeepClean, a Florida-based company that cleans up mold and mildew in homes and businesses. As the sole proprietor of the business, he has unlimited liability, which means:

he is fully liable for all business debts

Both Kennedy and LaGuardia Airports have established airport management committees. These structures are advantageous because it:

makes the coordination of activities much easier

A network of Bennetton retail sales agents select the Bennetton designs that they feel will appeal to Bennetton retail customers. The responsibility for picking the next "hot style" is in the hands of this group. This is an example of a _____ structure.

matrix

A company with few managerial levels and a short chain of command usually has a wide span of control. This is called a _____ organizational structure.

narrow ?

In 2005, BridgePort Brewing Company expanded sales of its BridgePort India Pale Ale, and BridgePort Black Strap Stout into Alabama, Georgia, Kansas, Minnesota, Missouri, North Carolina, Oklahoma, Tennessee and Texas. These states will join BridgePort's current distribution markets of Alaska, Arizona, California, Colorado, Idaho, Montana, New Mexico, Oregon, and Washington. When the brewery allocated resources to increase its production and distribution, it would have relied on which of the following management functions?

organizing

Jules Sylvester had always loved reptiles. When he was asked by a movie producer if he could locate some anaconda snakes for a movie, a business was born. Sylvester is the proud owner and operator of Reptile Rentals. The California-based business, which he started with no financial help from anyone, is often called on to provide "creepy, crawly" moments in the movies. Jules Sylvester is an example of a:

sole proprietorship

The ____ corporation is a network of independent companies linked by information technology to share skills, costs, and access to one another's markets.

virtual

One of the primary goals of Burberry, a British retailer, is to expand its market. When the company allocated resources so that it could open two stores in Japan, it was engaged in which management function?

organizing

Rebecca Siddoway own and operate Country Candies. Siddoway specializes in making rich, creamy toffees that she packages in attractive gift boxes and sells through the mail. What would her first step be if she decides to incorporate her business to make it easier to find investors?

to write the articles of incorporation