business final
A person who is involved in the process of creating and managing a business to achieve his or her desired objectives is engaged in
entrepreneurship
According to Hezbergs theory what is a motivational factor
recognition
Job ________ reflects a flexible scheduling strategy.
sharing
What is a major difference nice between the theory X and the theory Y views of management
theory Y takes i to account peoples needs cor companionship, esteem, and personal growth, whereas theory X does not
Small businesses may obtain funding from their suppliers in the form of a ______ which means that suppliers allow the business to take possession of the needed goods and services and pay for them at a later date or in instalments
trade credit
all economic systems must address three important issues one of which is how the goods and services will be produced
true
A business that lacks funds to operate normally faces a problem known as
undercapitalization
______ is considered to be the shortest path to failure in business
undercapitalization
As an advantage of being a small business owner, independence means
you get to be your own boss
McGregors Theory Y assumes that workers
naturally like to work
_____ is the primary goal of business
profit
rewarding appropriate behavior tends to be more effective to modify behavior in the run than punishments
true
A challenge associated with the sharing economy is
whether workers are viewed as independent contractors or employees
advertising, personal selling, coupons, and sweepstakes are elements included in the _____ aspect of marketing activities
promotion
The focus of all marketing activity is to
satisfy the needs and wants of consumers
what is true regarding the responsibilities of the people involved in a business
The primary responsibility of providing financial resources for the operation of the business lies with the business owners.
The approach that suggests that imagination, ingenuity, and creativity can help solve organizational problems, but most organizations do not make adequate use of these characteristics in their employees is
Theory Y
The approach that suggests that imagination, ingenuity. and creativity can help solve organizational problems but most organizations do not make adequate use of these characteristics in their employees is
Theory Y
Banks and other financial institutions can grant a small business a_______ which is an agreement by which a financial institution promises to lend a business a predetermined sum on demand
line of credit
_______ gather information and conduct research to determine what customers want. They also plan and develop products and make decisions about how much to charge for their products and when and where to make them available
marketers
According to ______ how much people are willing to contribute to an organization depends on their assessment of the fairness of the rewards they will receive in exchange
equity theory
What theory is based on the idea that employees try to maintain fairness or balance between inputs and outputs as compared to others in similar positions
equity theory
According to Maslows hierarchy a person buying insurance with income protection is attempting to satisfy physiological needs
false
According to maslows hierarchy a person buying insurance with income protection is attempting to satisfy physiological needs
false
The focus of all marketing activities is the successful transformation of resources into goods and services
false
The hawthorne studies found that money was the primary motivator for employees
false
While ethical behavior can enhance a company's reputation, it often has a negative effect on the company's financial performance.
false
the hawthorne studies found that money was the primary motivator for employees
false
Businesses differ from nonprofit organizations in that a business's focus is on
profit
All the groups that have an interest in an organization's success and outcomes are known as the organization's
stakeholders
McGregors Theory X assumes that workers
avoid responsibility
In the manufacturing sector small businesses sometimes have an advantage over large firms because small businesses
can customize products to meet specific customer needs and wants.
What is a difference between high technology businesses and other small businesses
High technology businesses require greater capital and have higher initial startup costs than other small businesses.
What is an advantage of allowing employees to telecommute
It helps reduce overhead costs for businesses.
What is the purpose of the small business administration
It offers managerial and financial assistance to small businesses
what is true of wholesalers
Wholesalers are extremely important because of the marketing activities they perform
A compressed workweek is
a four-day or shorter period in which employees work 40 hours
What is an advantage of using a flex time schedule
it improves the ability to recruit and retain workers who wish to balance work and home life
According to Hezbergs theory the absence of which factor may be a potential source of dissatisfaction and high turnover
job security
Maslows theory maintains that
the more basic needs at the bottom of the hierarchy must be satisfied before higher-level goals can be pursued.
rewarding appropriate behavior tends to be more effective to modify behavior in the long run than punishments for unacceptable behavior
true
