1.________ has helped small businesses compete with larger businesses.
B.Friendly customer service
E.A diverse workforce
2.Which of the following is not part of the definition of a small business?
A.It employs more than 500 employees
B.It employs fewer than 500 employees
C.It is independently owned and operated
D.It is not dominant in its field
E.All of the above are part of the definition
3.Which of the following is an advantage of a small business? A.Greater flexibility to change
B.Highly trained staff
D.More diverse employees
E.Small businesses have not advantages over large ones
4.Perhaps one of the most significant strengths of small businesses is
A.their ability to innovate and bring significant changes and benefits to customers
B.the entrepreneurial spirit they foster
C.the encouragement they receive from larger businesses
D.the competition they encourage
E.the ease of starting one
5.The ______ sector accounts for the majority of jobs in the United States.
6.Management is a process designed to achieve an organization's objectives by using its resources ____________ (accomplishing the objectives with a minimum of resources) and _________________ (having the intended result).
7.All of the following are typical resources that must be acquired by each organization in the pursuit of its objectives except
B.raw materials and equipment.
E.laws and regulations.
8.If a manager is concerned about doing the work with the least cost and waste, then her primary managerial concern is
9.Dividing work into small units and assigning it to individuals are tasks related to
10.Production and operations managers are concerned with
A.identifying and efficiently using sources of financing.
B.managing a division.
C.planning, pricing, and promoting products.
D.transforming resources into products.
E.recruiting new employees and developing employee programs.
11.Organizational structure is defined as
A.the arrangement or relationship of positions within an organization.
B.a group of people working together to achieve an objective.
C.the division of labor into small specific tasks.
D.the grouping of jobs into working units.
E.the grouping of working units into departments or divisions.
12.When managers assign work activities to groups and individuals and coordinate the diverse activities required to attain organizational objectives, they contribute to the development of organizational
13.A department store's organizational structure defines the relationships between
A.salespersons and merchandise buyers.
B.credit managers and maintenance people.
C.department managers and customers.
D.maintenance people and salespersons.
E.all the individuals working together to achieve its objectives.
14.The benefits of division of labor were described in The Wealth of Nations by
B. John Adams .
C. Adam Smith .
D. Cyrus McCormick .
15.Which of the following concepts frees a manager to attend to matters that he or she is especially qualified to deal with?
A.Delegation of authority