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Chapter 6 And 7 Quiz
Test Description: Key points from chapters 6 and 7--entrepreneurship and management
Instructions: Answer all questions to get your test result.
1) An entrepreneur
A
Manages businesses that operate in multiple countries
B
Has a controlling interest in the ownership of a corporation.
C
Accepts the risk of starting and running a business
D
Manages businesses for others
2) Which of the following statements is FALSE?
A
A small business is generally considered to have fewer than 500 employees
B
Over a 10-year period approximately ½ of all small businesses will close
C
Nearly ½ of the GDP is provided by small business
D
Most businesses have over 5000 employees
3) A small business is defined as
A
An independent business with fewer than 500 employees
B
An independent business that is located in a rural community
C
Any business that was started by an entrepreneur
D
An independent business with fewer than 1,000 employees
4) What are the 5 management functions?
A
Planning, Complaining, Organizing, Implementing, and Staffing
B
Planning, Organizing, Delegating, Supervising, and Staffing
C
. Planning, Complaining, Controlling, Delegating, and Implementing
D
Planning, Organizing, Controlling, Implementing, and Staffing
5) Mid-level managers typically focus most of their time on which management function(s)?
A
Working
B
Directing and implementing
C
Organizing, Staffing, and Implementing
D
Planning and Controlling
6) A tactical management approach is best used with:
A
Temporary workers
B
Experienced employees
C
Employees who enjoy their job
D
None of the other choices
7) All businesses should have a business plan
A
False
B
True
8) An advantage of a small business is that they often can provide more personal customer service and sometimes deal in unique items.
A
True
B
False
9) A strategic management style is best used when:
A
You have workers who enjoy their work and like to take responsibility
B
You have inexperienced workers
C
You are under time pressure to get things done
D
You have workers who are not self-motivated
10) In which management function are you directing and leading people to accomplish the planned work (the day-to-day activities)
A
Implementing
B
Controlling
C
Organizing
D
Planning
*select an answer for all questions
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