Entrepreneurship and Small Business Management
Final Exam
Course Introduction
Entrepreneurship and Small Business Management explores the fundamental concepts, skills, and strategies needed to establish, operate, and grow a small business. This course examines the entrepreneurial mindset, the process of identifying and evaluating business opportunities, and the key elements of business planning. Students learn about market research, funding sources, operations, sales, and marketing tailored for small enterprises. Additionally, the course addresses legal, ethical, and managerial aspects of running a small business, preparing students to meet the challenges and opportunities faced by entrepreneurs in a dynamic marketplace.
Recommended Textbook Management 12th Edition by
Ricky W. Griffin
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20 Chapters
3844 Verified Questions
3844 Flashcards
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Page 2
Chapter 1: Managing and the Managers Job
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200 Verified Questions
200 Flashcards
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Sample Questions
Q1) Which of the following statements BEST reflects the relationship between management and leadership?
A) Leadership is only one part of management.
B) Management is only one part of leadership.
C) Management and leadership are the same thing.
D) Leadership and management are unrelated concepts.
E) Both leadership and management are part of controlling.
Answer: A
Q2) Google CEO,Larry Page,created a work culture that seeks employee input and provides plentiful perks,transparency,and flexibility.This is most representative of which management function?
A) Controlling
B) Organizing
C) Leading
D) Planning
E) Motivating
Answer: C
Q3) Choosing a course of action from alternatives is ____________________.
Answer: decision making
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Page 3
Chapter 2: Traditional and Contemporary Opportunities and Challenges
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158 Flashcards
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Sample Questions
Q1) Quality
A)Increasing importance to managers
B)Decreasing importance to managers
C)No change in the importance to managers
Answer: A
Q2) Protests after police shootings turned into riots after ______ was used to gather people with ill intentions who looted and destroyed business establishments.
Answer: social media
Q3) Companies (such as Coca-Cola,Ford,and GE)maintain significant libraries on their corporate histories that show a sense of heritage and pride.
A)True
B)False
Answer: True
Q4) The approaches to management that try to find the one best way to solve a management problem are called contingency approaches.
A)True
B)False
Answer: False
Page 4
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Chapter 3: Understanding the Organizations Environment
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221 Verified Questions
221 Flashcards
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Sample Questions
Q1) When Catherine,Duchess of Cambridge started wearing pantyhose,sales in the UK increased 85%.That is an example of which environment?
A) Task
B) Political-legal
C) Sociocultural
D) Technological
E) Economic
Answer: C
Q2) In one year hospitals around the country ran out of 180 different drugs.The pharmaceutical companies are ____ to hospitals.
A) customers
B) suppliers
C) strategic partners
D) competitors
E) regulators
Answer: B
Q3) ____________________ can be conceptualized as a continuum and should be thought of in terms of degree or level along relevant dimensions.
Answer: Diversity
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Page 5
Chapter 4: Responding to the Ethical and Social Environment
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168 Flashcards
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Sample Questions
Q1) The Coca-Cola Foundation awarded grants to communities for water conservation and community recycling.This is an example of which area of social responsibility?
A) General social welfare
B) The natural environment
C) Organizational stakeholders
D) The task environment
E) The internal cultural environment
Q2) The primary economic agents of interest for an organization include A) customers.
B) competitors.
C) supplies.
D) dealers.
E) All of these choices
Q3) Briefly describe how the organizational context can have an influence on the ethical behavior of individual participants in the organization.
Q4) When a company does a social audit,what does it need to review?
Q5) Actions of peer managers and top managers,as well as the organization's ____________________,all contribute to the ethical context of the organization.
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Chapter 5: Navigating the Global Environment
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188 Verified Questions
188 Flashcards
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Sample Questions
Q1) The ____________________ was first negotiated following World War II in an effort to avoid trade wars that would benefit rich nations and harm poorer ones.
Q2) A disadvantage of importing/exporting is
A) inflexibility.
B) competition.
C) shared ownership.
D) complexity.
E) government restriction.
Q3) Magna International Inc. ,a Canadian company,offered to buy Opel,a German company,from GM.This is an example of direct investment.
A)True
B)False
Q4) During a recession what incentives do governments provide for international trade?
Q5) Every country and indeed many regions within any given country are unique.
A)True
B)False
Q6) Why is the European Union significant to the United States and the global economy?
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Page 7
Chapter 6: Basic Elements of Planning and Decision Making
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186 Verified Questions
186 Flashcards
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Sample Questions
Q1) Executives at Lululemon Athletica have just written a plan that allocates a large part of the firm's cash to a new product line.This will give them a competitive advantage and the new product line will have a synergistic effect when combined with current products.What kind of plan is this?
A) Strategic
B) Standing
C) Contingency
D) Tactical
E) Operational
Q2) The responsibility for establishing corporate mission and strategy lies with the A) planning task force.
B) executive committee.
C) chief executive officer.
D) board of directors.
E) stockholders.
Q3) Decision making is the cornerstone of ____________________.
Q4) Standing plans and single-use plans are two basic kinds of ____________________ plans.
Q5) Compare and contrast standard operating procedures and rules and regulations.Give an example of each.
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Chapter 7: Managing Strategy and Strategic Planning
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Sample Questions
Q1) Chanel,Monte Blanc,and Allen Edmonds pursue an overall cost leadership strategy.
A)True
B)False
Q2) Though all reporters say they have no bias,Fox News covers stories from what many believe to be a right-of-center political point of view.They use a(n)____ strategy.
A) prospecting
B) emergent
C) focus
D) cost leadership
E) guerrilla
Q3) According to the BCG matrix,____________________ are businesses whose products have a high share of a growing market.
Q4) Focuses primarily on markets to enter and how to use resources
A)Business strategy
B)Corporate-level strategy
C)Functional strategy
Q5) Developing a(n)____________________ strategy is far more complex than developing a domestic one.
Q6) Briefly describe business portfolio analysis using the GE Business Screen.
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Chapter 8: Managing Decision Making and Problem Solving
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196 Flashcards
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Sample Questions
Q1) Your assistant comes to you with the feasibility evaluation of a decision alternative.What should he be describing to you?
A) How well the alternative will satisfy the conditions of the problem situation
B) How the alternative will affect the various parts of the organization
C) Whether the alternative is within the realm of probability and practicality for the organization
D) The affordability of the consequences
E) None of these choices
Q2) As a result of increased information,groups and teams typically can identify and evaluate more alternatives than can one person.
A)True
B)False
Q3) Compare and contrast the two types of decisions.
Q4) Describe how intuition,political forces,risk propensity,ethics,and escalation of commitment could impact decision making.
Q5) Compare and contrast the three types of conditions under which managers make decisions by placing them on a continuum of certainty.
Q6) What are the similarities and differences between the two types of decisions?
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Chapter 9: Managing Start-Ups and New Ventures
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139 Verified Questions
139 Flashcards
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Sample Questions
Q1) Jeff wants to start a company that makes the medical consent forms patients are required to sign easier to understand.Jeff is a doctor with medical sales experience;his partner Gina has the technical abilities to make the product.Where should they look first for financing?
A) Personal resources
B) SBA
C) Strategic alliances
D) SBICs
E) Venture capital companies
Q2) The most common causes of small business success are hard work,____________________,managerial competence,and luck.
Q3) Luck plays a role in the success of some firms.
A)True
B)False
Q4) A(n)____________________ business sells directly to consumers products manufactured by other firms.
Q5) How has e-commerce affected entrepreneurship?
Q6) When the business plan is finished,the entrepreneur must choose a structure.What does that mean?
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Chapter 10: Basic Elements of Organizing
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Sample Questions
Q1) Low training costs
A)Work teams
B)Job enlargement
C)Job enrichment
D)Job rotation
E)Job specialization
Q2) Yoshiko is the manager of the accounting department.She has an assistant manager who reports to her.Six supervisors also report to her from other divisions.The supervisors have three subordinates each.Yoshiko has a span of management of
A) eighteen.
B) nineteen.
C) ten.
D) seven.
E) six.
Q3) Design your dream job.Are you high-growth need or low-growth need?
Q4) Director of personnel
A)Staff manager
B)Function manager
C)Line manager
Q5) How do the basic elements of organizing fit together?
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Chapter 11: Managing Organization Design
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177 Verified Questions
177 Flashcards
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Sample Questions
Q1) A matrix design would NOT be effective when
A) the organization has a diverse set of products.
B) there is pressure for shared resources.
C) there is a great deal of information to be processed.
D) the environment has a high level of complexity.
E) there is an intense external level of competition.
Q2) Woodward studied 100 manufacturing companies.If she had studied 100 service companies,what do you think the connection between technology and organizational design would be?
Q3) The ____________________ organization has little or no formal structures,including few permanent employees.
Q4) Continuous-process technology
A)Girl Scouts USA only
B)Lav
C)Both organizations
D)Neither organization
E)com only
Q5) When people float from project to project with little or no underlying functional authority in organizational units,a(n)____________________ organization design is said to exist.
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Chapter 12: Managing Change and Innovation
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Sample Questions
Q1) Briefly describe the Lewin model for organization change.As outlined in the text,what is the major criticism of this model?
Q2) I won't see José at work anymore
A)Different perceptions
B)Uncertainty
C)Participation
D)Facilitation
E)Feelings of loss
F)Threatened self-interest
G)Education
H)Force-field analysis
Q3) MTV provides 11 different program variations to satisfy cultural differences around the world.
A)Process innovation
B)Product innovation
C)Both process and product innovation
Q4) Perceptions
A)Organization structure and design
B)Technology and operations change
C)People change
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Chapter 13: Managing Human Resources
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203 Verified Questions
203 Flashcards
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Sample Questions
Q1) One of the major disadvantages of ranking as an appraisal method is that it
A) cannot be used to compare people in different work groups.
B) does not measure the employees' motivation to use their ability on a daily basis.
C) has opportunity bias.
D) compares employees to a fixed standard.
E) creates excessive competition among employees.
Q2) Ranking differs from rating in that it compares each employee with a fixed standard rather than comparison with other employees.
A)True
B)False
Q3) Which of the following would probably have the highest content validity?
A) Assessment center exercise
B) Personality test
C) IQ test
D) Achievement test
E) Interview
Q4) ____________________ is the process of attracting people to apply for jobs in an organization.
Q5) Sick days and insurance are ____________________.
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Chapter 14: Basic Elements of Individual and Interpersonal Behavior
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210 Flashcards
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Sample Questions
Q1) ____________________ is the process of screening out information that we are uncomfortable with or that contradicts our beliefs.
Q2) Fully explain the attribution process and how it is related to perception.
Q3) Organizational stressors include
A) task demands.
B) physical demands.
C) role demands.
D) interpersonal demands.
E) All of these choices
Q4) High levels of job satisfaction always lead to high levels of performance.
A)True
B)False
Q5) Discuss organizational stressors.
Q6) Which of the following statements about Type A personalities is FALSE?
A) They are extremely competitive.
B) They are less likely to experience conflict with other people.
C) They are more likely to experience stress.
D) They are very work-oriented.
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E) They have a lot of drive and want to accomplish as much as possible as quickly as possible.
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Page 17
Chapter 15: Managing Employee Motivation and Performance
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198 Verified Questions
198 Flashcards
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Sample Questions
Q1) Tyler told Emily to improve public opinion.The goal that Emily was given lacks goal
A) specificity.
B) acceptance.
C) conformity.
D) congruity.
E) difficulty.
Q2) ____________________ expectancy is the individual's perception of the probability that effort will lead to high performance.
Q3) The human relations view assumes that the contributions themselves are valuable to both individuals and organizations.
A)True
B)False
Q4) Emergency medical technicians work 48 hour shifts every seven days.They use a compressed work schedule.
A)True
B)False
Q5) Define motivation.Why is it important?
Q6) Krishna works four,ten hour days.She works a(n)____________________.
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Chapter 16: Managing Leadership and Influence Processes
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Sample Questions
Q1) How can managers handle political behavior so that it does not do excessive damage?
A) Managers should avoid covert actions.
B) Managers should provide employees with autonomy,responsibility,challenge,and feedback.
C) Managers should be aware that even if their plans are not politically motivated,others might perceive them that way.
D) Managers should get disagreements out in the open so that subordinates will have less opportunity for political behavior.
E) All of these choices
Q2) Briefly describe the five kinds of power available to leaders and/or managers.
Q3) The Ohio studies found that when using consideration behavior,the leader clearly defines the leader-subordinate role so that everyone knows what is expected,establishes formal lines of communication,and determines how tasks will be performed.
A)True
B)False
Q4) The type of power that is based on charisma is called ____________________ power.
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Chapter 17: Managing Interpersonal Relations and Communication
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Sample Questions
Q1) Interpersonal relations,communication,and group processes are a pervasive part of all organizations and a vital part of all managerial activities.
A)True
B)False
Q2) Which of the following statements about the grapevine is FALSE?
A) It can be used to transmit information quickly.
B) It builds a sense of togetherness.
C) It is a useful way to transmit confidential information.
D) It may extend beyond the organizational boundaries.
E) It is often used as a way to get power.
Q3) The CEO's assistant approached the CEO for signatures during the briefing.
A)Vertical communication
B)Horizontal communication
C)Noise
D)Nonverbal communication
E)Grapevine
F)Telecommuting
Q4) Communication always involves two or more people.
A)True
B)False
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Chapter 18: Managing Work Groups and Teams
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Sample Questions
Q1) Factors that might contribute to an individual's interpersonal attraction to a group include all the following EXCEPT
A) physical proximity to group members.
B) compatible personalities.
C) the group's goal.
D) increased interaction.
E) similarity of attitudes with group members.
Q2) Katsuya knows his marketing department is the top performer.He is frustrated that all the funding seems to go to operations where performance does not meet expectations.This is an example of ____ conflict.
A) intragroup conflict
B) internal environmental conflict
C) role ambiguity
D) intergroup conflict
E) role overload
Q3) In most compromise situations,everyone wins.
A)True
B)False
Q4) Describe a situation in your life when conflict had a positive outcome.
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Chapter 19: Basic Elements of Control
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Sample Questions
Q1) Former Secretary of State Hillary Clinton had her own personal server.This went against government security policies.Clinton demonstrated
A) lack of accountability.
B) inappropriate focus.
C) resistance to control.
D) overcontrol.
E) lack of standards.
Q2) Flat organizational design
A)FedEx only
B)JetBlue only
C)Both organizations
D)Neither organization
Q3) The expense budget is a type of ____________________ budget that anticipates expenses for the organization during the coming time period.
Q4) When the managerial style is participative,the appropriate control style is ____________________.
Q5) How can the various forms of operations control be used simultaneously?
Q6) Briefly describe how controls are classified according to level.Give examples of each type.
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Chapter 20: Managing Operations, quality, and Productivity
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Sample Questions
Q1) At USAA call centers,each caller is immediately addressed by rank and name.Workers receive training on helping customers across product lines and transferring them to subject experts.Callers are always invited to answer a survey about their call experience.This example focuses on which component of the quality management strategy?
A) Technology
B) Materials
C) Employee involvement
D) Methods
E) Operations
Q2) Which of the following pairs of factors that are important to designing operations systems are MOST closely related to demand?
A) Product-service mix and facilities
B) Capacity utilization and facilities
C) Product-service mix and technology
D) Technology and capacity utilization
E) Products-service mix and capacity utilization
Q3) Describe the type(s)of layout(s)at a college football game for the teams,fans,officials,press,and concessioners.
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