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Professionally Management of Small Business MCQ

Joe's hardware bought moe's hardware on the other side of town. this is an example of ________.

Answer

Correct Answer: Horizontal integration

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The leader-participation model contends that leader behavior should ________.

Answer

Correct Answer: Adjust to the structure of the task involved

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A term used to describe positive effects related to stress is ______.

Answer

Correct Answer: Eustress

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The ______ approach to determining a company’s worth involves the cost to recreate the operating assets of the business.

Answer

Correct Answer: Asset-based

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The key to effective time management for a small business owner is?

Answer

Correct Answer: Establishing priorities

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Bob Boyd is developing an exit strategy for his sporting goods business, since he plans to retire within the next three years. Bob knows that one of the company’s greatest strengths is that there is a core group of motivated employees who have been with the company for years. Based on this information, which exit strategy would be the best option for Bob?

Answer

Correct Answer: Sell to a key employee or group of employees

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Which law is defined as “Work expands to fill the time available”?

Answer

Correct Answer: Parkinson’s

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Physiological needs, according to Maslow’s hierarchy of needs theory, include which of the following?

Answer

Correct Answer: Food and water

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The ______ approach to determining a company’s worth involves looking at what others have paid for comparable businesses.

Answer

Correct Answer: Market

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Maslow’s hierarchy of needs has five levels. These levels, in order from lowest level to highest level, are which of the following?

Answer

Correct Answer: Physiological, safety and security, social, esteem, and self-actualization

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Delegation, defined, is granting authority and responsibility for a specific task to ______.

Answer

Correct Answer: Another member of the organization

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Wendy has recently been approached by a Rita to sell her art gallery. Rita has been in the art business for over twenty years, but has never owned her own gallery. She tells Wendy that this has been one of her dreams since she was young. If Wendy sells the gallery to Rita, which exit option will she adopt?

Answer

Correct Answer: Sell to a financial buyer

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Maslow’s hierarchy of needs theory ranks the highest level of needs as ______.

Answer

Correct Answer: Self-actualization

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Within the ______ role, the manager needs to identify fresh new ideas and innovations.

Answer

Correct Answer: Entrepreneur

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One of Brandon’s primary roles on the production line is to continuously determine if quality control standards are being met. This relates to which managerial role?

Answer

Correct Answer: Monitor

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What is often the result when small business managers do not delegate authority and responsibility?

Answer

Correct Answer: Employees stop trying or leave

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The reason that an individual takes action in satisfying some need can be referred to as which of the following?

Answer

Correct Answer: Motivation

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Stress is an emotional state that occurs in response to demands, which may come from _____ sources.

Answer

Correct Answer: All of the above

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Motivation is the force that _____ a person that causes the person to behave in a specific manner.

Answer

Correct Answer: All of the above

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Management is the process of _____ resources to achieve the goals of an organization.

Answer

Correct Answer: All of these

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Leadership is the process of _____ the actions of members within a group.

Answer

Correct Answer: All of these

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The Positive consequences and components of stress is called Distress

Answer

Correct Answer: False

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Granting authority and responsibility for a specific task to another member of an organization is called?

Answer

Correct Answer: Delegation

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