BUS 10 Midterm #2

When comparing small businesses to their larger competitors, it is clear that:

Which of the following U.S. issues does entrepreneurship most directly affect?

One of the hurdles small businesses face when deciding to export is:

Entrepreneurs seeking financial support from bankers and potential investors should:

Which of the following sources of investment is the least likely type available to entrepreneurs?

Small businesses must seek advice from outside experts. In order to put together official documents such as leases, contracts, and partnership agreements, it is important to seek the advice of _________.

Business owners who prefer to maintain their businesses at a manageable size are called:

Using the analogy of boulders vs. sand for filling a hole, the textbook points out that:

According to SBA guidelines, a manufacturing firm with 1,000 employees:

Small business employees:

Entrepreneurs looking for a business that gives them the best opportunity to get rich should consider starting a business in:

Entrepreneurs applying for a bank loan should realize that bankers will:

Effective entrepreneurial teams combine:

Enterprise zones and investor visas are examples of:

Intrapreneurs make use of __________ to develop and launch new products and generate new profits.

Supervisory managers spend most of their time on:

A __________ analysis is used to help companies evaluate their internal strengths and weaknesses, and develop an awareness of external threats and opportunities.

__________ is the art of utilizing organizational resources to accomplish goals at work.

__________ planning determines the major goals of an organization and lays the foundation for obtaining and using resources to achieve those goals.

__________ planning prepares alternative courses of action that may be used if the primary plans are not achieving objectives.

The __________ style of leadership is characterized by making managerial decisions without consulting others.

In traditional organizations, ____________ involves giving explicit instructions to workers, telling them what to do to meet the goals and objectives of the organization.

___________ skills involve a manager's ability to picture the organization as a whole and the relationship among its various parts.

__________ is the management function that involves determining whether an organization is progressing toward its goals, rewarding employees for doing a good job, and taking corrective action when they are not.

As firms make greater use of empowerment and teams, managers will find that they:

Which of the following activities is part of the organizing function of management?

Because economic and competitive environments frequently change, organizations should:

Which of the following goals best describes today's view of the organizing function? Organizing today focuses on:

One difference between managers and leaders is that:

The revolution in management that is currently underway suggests that the most effective managers of the future will:

Which of the following is a clear performance standard?

When managers determine that an organization is not making sufficient progress toward achieving its goals and objectives and they develop corrective measures, they are involved in:

Which of the following was created as a solution to the temporary nature of the matrix structure?

Which of the following is considered to be an advantage of functional departmentalization?

_____________ refers to companies headquartered abroad who elect to bring production and manufacturing to domestic subsidiaries.

Line-and-staff organizations work well in organizations with:

The ____________ of a business firm is the system that details lines of authority, responsibility, and position, similar to the structure on organization charts.

The line of authority that moves from the top of a hierarchy to the lowest level is called the:

The optimum number of subordinates a manager can supervise is referred to as the:

Cross-functional self-managed teams work best when _______________.

Which of the following is true of cross-functional teams?

One advantage of a bureaucratic organization is that:

The informal organization of a business is probably best suited to:

In an inverted organization, the job of management is to:

Which of the following statements most closely identifies the problem with adopting Fayol's principles of organization design for contemporary businesses?

Which of the following correctly identifies the explanation behind the unity of command principle of management?

Fayol believed that decision-making authority should remain in the hands of top management:

Douglas Pick began making and selling ear plugs out of his home near the University of Southern California. According to the Spotlight on Small Business box titled, "When Your Workers Work for Someone Else":

In the Making Ethical Decisions box, titled, "Safety versus Profit", which of the following statements best forms the theme of this passage?

For an inverted organization to be effective, it requires:

___________ is a set of international standards for quality management and quality assurance.

With the __________ inventory control system, producers hold only the amount of materials and parts that they need for a short period of time - sometimes just a few hours.

In ___________, materials are physically or chemically changed to produce a product.

The purpose of a PERT network is:

__________ is the physical arrangement of resources in the production process.

In a PERT network, the sequence of tasks that takes the longest to complete is called the:

Production management is the traditional term used to describe all the activities managers do to help their firms create:

Today manufacturers are relying more heavily on:

A big advantage of computer integrated manufacturing software is that it:

Reviewing the PERT Network below: If it takes 1, 2, or 3 weeks for each activity (represented by a box) to be completed, the critical path is represented by:

A just-in-time inventory system usually reduces costs for:

Which of the following statements best describes the distinction between production management and operations management? Production management involves:

A benefit of CAD (Computer Aided Design) and CAM (Computer Assisted Manufacturing) is:

A basic characteristic of flexible manufacturing is that it:

Which of the following would be most helpful to a production manager who wanted to determine the minimum time required to complete a proposed project?

To strengthen its manufacturing base in the future, U.S. will have to:

A firm that is certified as meeting both ISO 9000 and ISO 14000 standards has demonstrated: