Question 1

A corporate marketing executive is moving to a managerial position in a small firm, where she may logically expect to find a _____ of cash and an _____ number of support staff.

Accepted Answer

A)  surplus; adequate 
B)  shortage; inadequate 
C)  surplus; inadequate 
D)  shortage; adequate

Question 2

The Service Corps of Retired Executives (SCORE) program offers entrepreneurs management advice for a small fee.

Accepted Answer

A) True 
 B)False

Question 3

Discuss the types of outside management assistance available to small business owners.

Accepted Answer

The answer of Discuss the types of outside management assistance...

Question 4

Match the term with its definition.
-SBA-sponsored centers offering consulting, education, and other support to small business owners

Accepted Answer

A) budget 
B) chain of command 
C) delegation of authority 
D) empowerment 
E) line-and-staff organization
F)line organization
G)long-range plan (strategic plan)
H)negotiation
I)networking
J)professional manager
K)Service Corps of Retired Executives (SCOR
E) 
L)short-range plan
M)Small Business Development Centers (SBDCs)
N)span of control

Question 5

A manager who grants subordinates the right to act or make decisions is delegating authority.

Accepted Answer

A) True 
 B)False

Question 6

The formal organization stage of business growth is a turning point for a small firm, because the entrepreneur must rise above direct, hands-on management and work through an intervening layer of management.

Accepted Answer

A) True 
 B)False

Question 7

When a small business expands beyond the comfort zone of its entrepreneur, bankruptcy is all too often the final outcome.

Accepted Answer

A) True 
 B)False

Question 8

The consulting resources of universities are made available to small business firms by

Accepted Answer

A)  student consulting teams. 
B)  SCORE. 
C)  business incubators. 
D)  management consultants.

Question 9

Match the term with its definition.
-The process of developing and engaging in mutually beneficial relationships

Accepted Answer

A) budget 
B) chain of command 
C) delegation of authority 
D) empowerment 
E) line-and-staff organization
F)line organization
G)long-range plan (strategic plan)
H)negotiation
I)networking
J)professional manager
K)Service Corps of Retired Executives (SCOR
E) 
L)short-range plan
M)Small Business Development Centers (SBDCs)
N)span of control

Question 10

The greatest time saver is the effective use of time.

Accepted Answer

A) True 
 B)False

Question 11

Entrepreneur Danny Meyer's own unique management approach, which involves moving things "back to center," nudging employees in the right direction to keep them motivated in a positive way, and insisting on excellent performance, is called

Accepted Answer

A)  constant, urging reminding. 
B)  constant, gentle pressure. 
C)  employee empowerment. 
D)  a team-builder style.

Question 12

A firm's basic path to the future is spelled out in a document called a

Accepted Answer

A)  feasibility study. 
B)  short-range plan. 
C)  budget. 
D)  strategic plan.

Question 13

In very small companies, the organizational structure tends to evolve with little conscious planning.

Accepted Answer

A) True 
 B)False

Question 14

Most very small firms use a _____ organization.

Accepted Answer

A)  functional 
B)  line 
C)  line-and-staff 
D)  committee

Question 15

Susan has seen her retail shop grow to the point that she has designated supervisors for the office and two selling areas. Which of the following stages of small business growth is her shop in?

Accepted Answer

A)  Formal organization 
B)  Intermediate supervision 
C)  One-person operation 
D)  Player-coach operation

Question 16

Mario has just begun to personally supervise employees. His firm is likely to be in the _____ stage of growth.

Accepted Answer

A)  formal organization 
B)  intermediate supervision 
C)  one-person operation 
D)  player-coach operation

Exam 19: Professional Management and the Small Business

A corporate marketing executive is moving to a managerial position in a small firm, where she may logically expect to find a _ of cash and an _ number of support staff.

The Service Corps of Retired Executives (SCORE) program offers entrepreneurs management advice for a small fee.

Discuss the types of outside management assistance available to small business owners.

Match the term with its definition. -SBA-sponsored centers offering consulting, education, and other support to small business owners

A manager who grants subordinates the right to act or make decisions is delegating authority.

The formal organization stage of business growth is a turning point for a small firm, because the entrepreneur must rise above direct, hands-on management and work through an intervening layer of management.

When a small business expands beyond the comfort zone of its entrepreneur, bankruptcy is all too often the final outcome.

The consulting resources of universities are made available to small business firms by

Match the term with its definition. -The process of developing and engaging in mutually beneficial relationships

The greatest time saver is the effective use of time.

Entrepreneur Danny Meyer's own unique management approach, which involves moving things "back to center," nudging employees in the right direction to keep them motivated in a positive way, and insisting on excellent performance, is called

A firm's basic path to the future is spelled out in a document called a

In very small companies, the organizational structure tends to evolve with little conscious planning.

Most very small firms use a _____ organization.

Susan has seen her retail shop grow to the point that she has designated supervisors for the office and two selling areas. Which of the following stages of small business growth is her shop in?

Mario has just begun to personally supervise employees. His firm is likely to be in the _____ stage of growth.