Ch. 6 And 7 Test Review Part I Question Preview (ID: 33952)


Review For Ch. 6 And 7 Test For Principles Of Business. TEACHERS: click here for quick copy question ID numbers.

It is easier for a small business to meet the precise needs of customers than a large business.
a) True
b) False
c)
d)

It is much more important for employees to practice ethical behavior than it is for managers to practice it.
a) True
b) False
c)
d)

Almost everyone has the same beliefs about what constitutes ethical behavior.
a) True
b) False
c)
d)

Once a business plan is written, it should never be revised and should never be updated.
a) True
b) False
c)
d)

Everyone who owns a business is an entrepreneur.
a) True
b) False
c)
d)

Work groups are an ineffective way for employees to gain experience with management activities.
a) True
b) False
c)
d)

The process of starting, organizing, managing, and assuming the responsibility for a business is called capitalism.
a) True
b) False
c)
d)

Supervisors often have non-management duties in addition to their management work.
a) True
b) False
c)
d)

In strategic management, managers are less directive and involve employees in decision-making.
a) True
b) False
c)
d)

The most important step in starting a business is preparation.
a) True
b) False
c)
d)

Which of the following is probably the LEAST important factor in becoming an entrepreneur?
a) living in a major U.S. city
b) having special skills and abilities
c) having a real desire to be your own boss
d) developing a good initial business plan

Managers typically spend much of their time dealing with
a) customers.
b) people from other organizations.
c) other managers in their own organizations.
d) All of these

The combined use of tactical and strategic management is known as
a) mixed management.
b) mismanagement.
c) management by committee.
d) management by others.

Successful entrepreneurs tend to have all of the following characteristics EXCEPT
a) energetic.
b) goal-oriented.
c) creative.
d) hesitant.

Entrepreneurs
a) must have a very low tolerance for ambiguity.
b) almost never own their first business while in their teens.
c) come from all age categories and educational backgrounds.
d) must have a business degree to be successful.

If you start a new business, you need information about
a) competitors.
b) government regulations.
c) customers.
d) All of these

Mission statements
a) are the guidelines that direct employees’ behavior.
b) describe the reason businesses exists and what they want to accomplish.
c) are written explanations of how specific business ideas will be carried out.
d) are the principles of conduct governing an individual or group.

Short-term financing is obtained for a period of less than
a) three months
b) six months
c) one year
d) two years

Which of the following is probably NOT a mid-management job?
a) customer service manager
b) information technology manager
c) marketing manager
d) vice-president of human resources

Which of the following would NOT be discussed in the operations plan section of a business plan?
a) organization of the company
b) sales forecasts
c) human resource plans
d) analysis of resources needed

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