Exam 2 Review

Question 1

Unlike Corporations, Proprietorships offer 1X taxation, limited liability & pride of ownership

Accepted Answer

False

Question 2

____% of small businesses fail within 10 years?

Accepted Answer

70

Question 3

Which of the following is not a motivation factor based on Herzberg's Theory?

Accepted Answer

Salary

Question 4

Experienced upper management would be a(n)___while technological advancements would be a(n)___?

Accepted Answer

Strength; Opportunity

Question 5

Who sets the strategic plans (goals) for an organization?

Accepted Answer

Top Management

Question 6

A quality measure that allows only 3.4 defects per million?

Accepted Answer

Six Sigma

Question 7

Max # of shareholders an S Corp can have?

Accepted Answer

100

Question 8

In a Line Organization Structure, a single employee reports ____ supervisors?

Accepted Answer

1

Question 9

Strengths/Weaknesses are _____ while opportunities and threats are _____ to an organization?

Accepted Answer

Internal; External

Question 10

Organizational ___ refers to the number of levels of management in an organization?

Accepted Answer

Height

Question 11

Your boss has lifted the strict no-croc policy at work after posting record sales. This is:

Accepted Answer

Negative Reinforcement

Question 12

Controlling, Leading & Motivating, Organizing, & Planning make up the:

Accepted Answer

4 Functions of Management

Question 13

______ resources are an organization's most valuable

Accepted Answer

Human

Question 14

A leadership style where all decisions are made by 1 individual and little group input is heard

Accepted Answer

Autocratic

Question 15

Which needs from Maslow's Theory represent motivators in Herzberg's Two-Factory Theory?

Accepted Answer

Self Actualization and Esteem

Question 16

The management process function that focuses on goal setting and determining resources needed:

Accepted Answer

Planning

Question 17

A company plans to acquire a company from its industry. This is a ____ acquisition.

Accepted Answer

Horizontal

Question 18

The management team is reviewing the growth of new subscribers that occurred this quarter.

Accepted Answer

Controlling

Question 19

True/False:Operational plans are designed to implement tactical plans and take less than a year

Accepted Answer

True

Question 20

True/False:When working in a team, it is essential to avoid all forms of conflict?

Accepted Answer

False

Question 21

Free Points

Accepted Answer

Points, Free

Question 22

Two advantages of a decentralized organization would be?

Accepted Answer

Increased responsiveness and empowerment

Question 23

Herzberg's: When present, Motivation factors increase ____ while Hygiene factors decrease ____?

Accepted Answer

Job Satisfaction; Job Dissatisfaction

Question 24

Operations and Threats analysis should be conducted _______ an environmental scan.

Accepted Answer

After

Question 25

Adding a reward to encourage a desired behavior:

Accepted Answer

Positive Reinforcement

Question 26

Which of the following is not a part of human resource management?

Accepted Answer

Persuading

Question 27

Amazon is a ___ corporation in the state in which it is incorporated.

Accepted Answer

Domestic

Question 28

______, Human, Financial, and ____ make up the 4 resources organizations manage

Accepted Answer

Material; Information

Question 29

Planning focused on broad, long term goals. Often >5 Years

Accepted Answer

Strategic

Question 30

Safety and _____ needs make up Maslow's "Basic Needs"

Accepted Answer

Physiological

Question 31

A(n) ____ is used when all products undergo the same operations in the same sequence?

Accepted Answer

Assembly Line

Question 32

When management concentrates authority at the UPPER levels of the organization, it has a ___?

Accepted Answer

Centralized Organization

Question 33

A team with members of different departments (i.e. Finance & Operations) would be a(n)?

Accepted Answer

Cross-Functional Team

Question 34

All of the following are advantages of a matrix organizational structure except?

Accepted Answer

Having two bosses

Question 35

Stage of Tuckman's in which teams begin to express opinions and conflict is prone to arise?

Accepted Answer

Storming

Question 36

All are advantages of Sole Proprietorships EXCEPT:

Accepted Answer

Perpetual Life

Question 37

Dr. Andrews takes away phone privileges due to too many students texting during class. This is:

Accepted Answer

Extinction

Question 38

Job security, work conditions, and vacation time would be considered _____ factors?

Accepted Answer

Hygiene

Question 39

_______ tend to be willing to invest earlier in a company than ________.

Accepted Answer

Angel Investors; Venture Capitalists

Question 40

Small businesses employ ____ % of all private sector employees?

Accepted Answer

50

Exam 2 Review

Questions 40

Exam 2 Review

Questions 40