1. 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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2. The leader-participation model contends that leader behavior should ________.
Answer
Correct Answer:
Adjust to the structure of the task involved
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3. A term used to describe positive effects related to stress is ______.
Answer
Correct Answer:
Eustress
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4. 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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5. The key to effective time management for a small business owner is?
Answer
Correct Answer:
Establishing priorities
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6. 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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7. Which law is defined as “Work expands to fill the time available”?
Answer
Correct Answer:
Parkinson’s
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8. 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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9. 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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10. 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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11. Delegation, defined, is granting authority and responsibility for a specific task to ______.
Answer
Correct Answer:
Another member of the organization
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12. 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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13. Maslow’s hierarchy of needs theory ranks the highest level of needs as ______.
Answer
Correct Answer:
Self-actualization
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14. Within the ______ role, the manager needs to identify fresh new ideas and innovations.
Answer
Correct Answer:
Entrepreneur
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15. 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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16. 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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17. 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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18. 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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19. 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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20. Management is the process of _____ resources to achieve the goals of an organization.
Answer
Correct Answer:
All of these
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21. Leadership is the process of _____ the actions of members within a group.
Answer
Correct Answer:
All of these
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22. The Positive consequences and components of stress is called Distress
Answer
Correct Answer:
False
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23. Granting authority and responsibility for a specific task to another member of an organization is called?
Answer
Correct Answer:
Delegation
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