Business 100 Final Exam Part A grade boosting questions and answers doc solution 2020 1. How do small businesses contribute to the U.S economy? 2. Owners of small businesses can increase their c... hances of success if they: 3. Many businesses fail during the early years because of _____. 4. A business plan for a small business typically contains all of the following EXCEPT _____. 5. Maria is the owner of a very small technology start-up. She shares clerical staff, computers, and other business services with other small business owners. Maria is part of a: 6. Martha requires funding for a shopping portal that she launched recently. She wants to secure a government procurement contract to ensure adequate funding. Which of the following organizations can help Martha avail the contract? 7. In exchange for an ownership share, small businesses receive financing from a group of investors known as _____. 8. A fast food chain offers a contractual business arrangement in various countries around the world. This fast food chain will be an example of a(n) international 9. A drawback of franchising is that: 10. Franchising offers all of the following advantages EXCEPT _____. 11. Sole proprietorships have all of the following advantages EXCEPT _____. 12. One of the disadvantages of partnerships is that: 13. When a government unit owns and operates an organization, the arrangement is known as _____. 14. Nikita established a corporation in Nebraska, but she recently moved to Colorado where she now conducts her business. What type of corporation does Nikita own? 15. Which of the following is a function of the board of directors of a corporation? 16. Latifa is a chief financial officer in a large corporation. She has the full financial authority to make appropriations and authorize expenditures. Latifa is likely to be a member of _____ management. 17. Star Airlines' purchase of Hispania Airlines combines the resources and capabilities of both firms to create the world's largest airline. The newly formed company is an example of a _____. 18. Assume that a tech firm decides to invest some of its excess cash by acquiring a coffeehouse chain. This would be a _____. 19. An entrepreneur: 20. Syed and Mica come up with an idea for making sugar-free ice cream. They open their own small business to cater to the needs of those who are health conscious. Their products are distributed nationwide and their sales continue to increase. Syed and Mica are examples of _____. 21. Serial entrepreneurship involves: 22. The primary reasons people become entrepreneurs include all of the following reasons EXCEPT: 23. Which of the following has contributed the LEAST to the boom in entrepreneurship? 24. Concerning education and entrepreneurs, all of the following statements are correct EXCEPT: 25. Which of the following demographic/economic trends has increased the opportunities for entrepreneurs? 26. An overall idea for how to convert a business idea into a success is called _____. 27. Who is most likely to succeed as an entrepreneur? 28. Carlos routinely bids on contracts even though most of the other bidders are extremely large firms. Carlos believes his company offers better service at lower prices. Which of the following personality traits, common in entrepreneurs, does Carlos exhibit? 29. Which of the following statements best describes how entrepreneurs view failure? 30. Simone is opening a home health care business that she knows will do well in her community. She makes this assumption based on prior research. Although she must repay borrowed funds, Simone chooses _____ to maintain complete control over the business without having to answer to investors or partners. 31. Philomina invests in her new venture along with the fund supplied by Deccan Corp., the co-owner of her start-up. This type of funding is known as _____. 32. Miguel is a wealthy person who focuses on investing in new ventures. He is looking to invest money directly into a new consulting business in return for equity in the company. Miguel is an example of a(n) _____. 33. Which of the following instances best represents a skunkworks project? 34. Former CEO George Buckley believes that the key to supporting intrapreneurship is the willingness to _____. 35. Who are most likely to make decisions regarding the purchase of other companies? 36. Janet is a manager who spends most of her time in day-to-day decisions assigning nonmanagerial employees to specific jobs. Janet is considered a _____ manager 37. When Zeenath instructs new employees on handling customer complaints, she motivates them to respond with patience and a positive attitude. Zeenath has effective _____ skills. 38. Conceptual skills are especially important for _____, who must develop long-range plans for the future direction of their organizations. 39. Daniel is working on a project where he needs to anticipate future events and conditions, as well as avoid costly mistakes. Daniel is engaged in the _____ managerial function. 40. Which type of planning determines the primary objectives of an organization and then acts and allocates resources to achieve those objectives? 41. _____ planning involves implementing the activities specified by strategic plans. 42. Derek, a manager at a home appliances store, plans schedules and sets targets for his subordinates to ensure that they effectively achieve all the organizational goals. He also plans the recruitment of additional staff for delivery and customer service to improve the overall shopping experience. Derek is involved in _____ planning. 43. A logistics company began moving trucks and supplies into position nearly a week before a hurricane hit the city, as specified in the company's _____ plan. 44. What is the first step in the strategic planning process? 45. DAM Inc. is a cell phone service provider that offers 3G services. A new entrant in the market that offers 4G services is most likely to be a(n) _____ to DAM Inc. 46. Angelo is part of a strategic planning team. He has identified that his company is a low-cost producer in its industry. This should be listed on a SWOT analysis as a(n) _____. 47. _____ set guideposts by which managers define an organization's desired performance. 48. Decisions involving simple, common, frequently occurring problems for which solutions have already been determined are _____ decisions. 49. A fast food joint has decided to add a pork sandwich to its menu. This is an example of a(n) _____. 50. Once a manager has determined the problem or opportunity, the next step in the decision-making process is to _____. 51. _____ is the ability to direct or inspire people to attain certain goals. 52. Autocratic leaders: 53. Which leadership style would allow sales personnel to participate in setting sales quotas along with the managers? 54. Who among the following is most likely to have the free-reign style of leadership? 55. Which of the following statements is true of leadership styles? 56. Which of the following is true of an organization's corporate culture? 57. In which of the following arrangements do employees specialize in certain jobs? A. empowerment / B. decentralization / C. centralization / D. departmentalization 58. Innova Corp., a computer hardware firm, is subdivided by its different lines (such as laptops, desktops, mobile devices, printers, and servers). Innova is departmentalized by _____. 59. A company that emphasizes centralization: 60. A company that is based on a direct flow of authority from the top executive to subordinates is known as a _____ organization. 61. The matrix design in organizational structures is also frequently referred to as the _____ design 62. Which of the following management functions is most likely to be responsible for planning for staffing needs, recruiting and hiring workers, providing for training and evaluating performance, determining compensation and benefits, and overseeing employee separation? 63. All of the following are core responsibilities of human resource managers EXCEPT _____. 64. Which of the following is an example of a bona fide occupational qualification (BFOQ) that may cut across the Equal Employment Opportunity Commission's (EOCC) protected classes? 65. Which of the following is the first step in the employee recruitment process? 66. Which of the following is a concern about performance reviews? 67. Ricardo is a middle manager for Intellect Corp. He has requested an evaluation by a panel to include coworkers, superiors, subordinates, and several of the company's clients. This type of evaluation is called a _____. 68. Francis is able to select the type of benefits he receives by choosing from a list of possibilities including health insurance, dental and vision plans, and life and disability. This type of cafeteria plan is called a _____ benefits plan. 69. All of the following are examples of flexible working arrangements EXCEPT _____. 70. Janet's company allows her to work four 10-hour days and then have three days off each week. This type of flexible work arrangement is known as _____. 71. Rose was recently terminated from her position at an insurance agency due to unethical behavior. This is an example of _____. 72. Which of the following is often a negative result of downsizing? 73. Robert's company contracted with a third-party external to provide technical and computer support. This is an example of _____. 74. According to the process of motivation, a need produces motivation which leads to _____. 75. A key premise of Maslow's hierarchy of needs theory is that _____. 76. According to Herzberg, which of the following job factors is essential to job satisfaction although they cannot motivate employees? 77. _____ is concerned with an individual's perception of fair and equitable treatment. 78. Which of the following is NOT a key principle of management by objectives (MBO)? 79. Salma, a supervisor of data entry clerks, includes her subordinates in decision making whenever possible. She believes that most people can think of creative ways to solve work-related problems. Salma's assumption about worker behavior is based on _____. 80. An expansion of job duties that empowers an employee to make decisions and learn new skills leading toward career growth is known as _____. 81. Union contracts typically cover a time period of _____. 82. Yasir is working on a labor dispute. He meets with both sides, listens to their proposals, and makes a decision on a new contract which is legally binding. Yasir is acting as a(n) _____. 83. The _____ is one of the most effective tools of the labor union. 84. Union workers at an auto parts plant go out on strike. In response, the management closes the plant. This tactic is known as a _____. [Show More]
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