Exam 13: Strategies for Growth and Managing the Implication of Growth

The most often used method of transporting goods is:

Time management is the process of improving an individual's productivity through more efficient use of time.

Entrepreneurs who possess both the necessary abilities to make the transition to a more professional management approach and the aspiration to grow their businesses are the most likely to achieve firm growth.

________ strategies involve developing and selling new products to people who are already purchasing the firm's existing products.

In growing the workforce,entrepreneurs face the decision of what proportion of the workforce should be permanent and what proportion should be part time.Briefly explain some of the trade-offs the entrepreneur faces when deciding the composition of the firm's workforce.

The principle of reanalysis requires the entrepreneur to focus on the most important issues,even when under pressure.

To prevent pressures on the financial resources created by growth,the venture should avoid resource slack.

Discuss the three types of market development strategies and give examples of each.

The principle of teamwork states that an entrepreneur spends too much time with employees and should try to become less accessible to them in order to increase their efficiency.

A market development strategy would not involve:

Which of the following would not be a recommended diversification strategy

The entrepreneur is required to withhold federal and state taxes for employees and then deposit payments monthly or quarterly.

Which principle states that the most important issues should be attended to during the time of day that an entrepreneur is most efficient

Transport mode selection can be important in inventory management.

Most new ventures need a human resource department from the first day of operations.

Entrepreneurs in the ________ quadrant of firm growth aspire to grow their businesses and possess the ability to do so.

The grocery and pharmaceutical industries have developed a computerized system to link chain members together and manage demand,distribution,and marketing.

Forward integration is taking a step up on the value chain toward the raw materials.

Using a time sheet to record usage of time is part of the principle of:

When a manufacturer buys a chain of retail stores that carry its products,it is an example of backward integration.