Chapter 6 And 7 Quiz: Question Preview (ID: 16531)

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An entrepreneur
a) Manages businesses for others
b) Has a controlling interest in the ownership of a corporation.
c) Manages businesses that operate in multiple countries
d) Accepts the risk of starting and running a business

Which of the following statements is FALSE?
a) A small business is generally considered to have fewer than 500 employees
b) Nearly ½ of the GDP is provided by small business
c) Over a 10-year period approximately ½ of all small businesses will close
d) Most businesses have over 5000 employees

A small business is defined as
a) Any business that was started by an entrepreneur
b) An independent business that is located in a rural community
c) An independent business with fewer than 1,000 employees
d) An independent business with fewer than 500 employees

What are the 5 management functions?
a) Planning, Organizing, Controlling, Implementing, and Staffing
b) Planning, Complaining, Organizing, Implementing, and Staffing
c) Planning, Organizing, Delegating, Supervising, and Staffing
d) . Planning, Complaining, Controlling, Delegating, and Implementing

Mid-level managers typically focus most of their time on which management function(s)?
a) Working
b) Directing and implementing
c) Planning and Controlling
d) Organizing, Staffing, and Implementing

A tactical management approach is best used with:
a) Experienced employees
b) Employees who enjoy their job
c) Temporary workers
d) None of the other choices

All businesses should have a business plan
a) True
b) False

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

A strategic management style is best used when:
a) You have inexperienced workers
b) You have workers who are not self-motivated
c) You have workers who enjoy their work and like to take responsibility
d) You are under time pressure to get things done

In which management function are you directing and leading people to accomplish the planned work (the day-to-day activities)
a) Planning
b) Organizing
c) Controlling
d) Implementing

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