BUS 402 QUIZ 1 WEEK 3
- strayer university / BUS 402
- 16 Jul 2019
- Price: $8
- Other / Other
Question
1
- Which of the following is true
about avoiding business failure?
|
|
You must understand financial
statements. |
|
|
|
You need to learn how to manage
others. |
|
|
|
You must differentiate your product
from the competition. |
|
|
|
You must do all of these. |
2 points
Question
2
- Potential drawbacks of small
business ownership include:
|
|
a relatively low guaranteed income. |
|
|
|
a significantly freer personal
schedule but less personal income and assets with which to enjoy the more
relaxed schedule. |
|
|
|
a high likelihood of a lower quality
of life while starting and establishing the small business. |
|
|
|
relatively limited potential for
further personal development. |
2 points
Question
3
- "Copreneurs" are marked
by:
|
|
a division of labor by expertise. |
|
|
|
their similarity to the traditional
mom-and-pop operation. |
|
|
|
a decline in the number of
businesses. |
|
|
|
a greater success at raising venture
capital than sole proprietorship-type businesses. |
2 points
Question
4
- Entrepreneurial success requires both
persistence and ________.
|
|
education |
|
|
|
connections |
|
|
|
resilience |
|
|
|
reluctance |
2 points
Question
5
- Forces driving the entrepreneurial
trend in our economy include which of the following?
|
|
Technological advancement |
|
|
|
Shift to a service economy |
|
|
|
e-commerce |
|
|
|
All of the above |
2 points
Question
6
- Regarding sexual harassment,
employers should realize that they:
|
|
can be held responsible for
third-party sexual harassment. |
|
|
|
are protected from liability if they
are aware of a harassment problem, even if they don't take action. |
|
|
|
are not liable for sexual harassment
in the workplace if they have a formal policy against it. |
|
|
|
are not liable if they didn't know it
was taking place, even if one could reasonably expect them to know. |
2 points
Question
7
- Which one of the following is a
company's stakeholder?
|
|
Employees |
|
|
|
Unions |
|
|
|
Investors |
|
|
|
All of the above |
2 points
Question
8
- The various groups who affect and
are affected by the decisions and actions of a small business are called:
|
|
suppliers. |
|
|
|
stakeholders. |
|
|
|
minorities. |
|
|
|
intermediaries. |
2 points
Question
9
- If a manager is made aware of a
sexual harassment problem, he/she should:
|
|
immediately fire the person accused
of the harassment. |
|
|
|
ask the complainant to approach the
harasser and try to work it out. |
|
|
|
listen carefully and investigate
quickly and thoroughly. |
|
|
|
make all and any findings public to
protect all parties. |
2 points
Question
10
- ________ is any unwelcome sexual
advance, request for sexual favors, and other verbal or physical sexual
conduct made explicitly or implicitly as a condition of employment.
|
|
Hostile harassment |
|
|
|
Quid pro quo harassment |
|
|
|
Non-employee sexual harassment |
|
|
|
Sexual harassment |
2 points
Question
11
- ________ is the ability to apply
creative solutions to problems and opportunities to enhance or to enrich
people's lives.
|
|
Showboating |
|
|
|
Commoditizing |
|
|
|
Creativity |
|
|
|
Innovation |
2 points
Question
12
- ________ is (are) a valuable part
of the creative process, especially when evaluating ideas and implementing
them.
|
|
Rules |
|
|
|
Unequivocality |
|
|
|
Logic |
|
|
|
All of the above |
2 points
Question
13
- To avoid myopic thinking, creative
companies include ________ in creative problem solving or idea generation
sessions.
|
|
nonexperts |
|
|
|
experts |
|
|
|
industry specialists |
|
|
|
industry generalists |
2 points
Question
14
- In the creative process, ________
occurs while the individual is away from the problem, often engaging in
some totally unrelated activity.
|
|
investigation |
|
|
|
incubation |
|
|
|
transformation |
|
|
|
verification |
2 points
Question
15
- Which one of the following is a
barrier to creativity?
|
|
Searching for the one
"right" answer |
|
|
|
Focusing on being "logical" |
|
|
|
Blindly following the rules |
|
|
|
All of the above |
2 points
Question
16
- The primary output of the
strategic management process should be:
|
|
a matching of its strengths and
weaknesses to the opportunities and threats in the environment. |
|
|
|
an enticement to outside investors
and lenders to put money into the business. |
|
|
|
a complete explanation of the
company's product or service. |
|
|
|
a description of the company's
competitive situation. |
2 points
Question
17
- A small business owner needs to remember
that when it comes to employee involvement in the strategic planning
process:
|
|
involvement is a prerequisite for the
achievement of total employee commitment. |
|
|
|
his/her employees look to him/her for
leadership and do not want to be involved. |
|
|
|
the delegation of authority is not as
important as communicating a clear vision. |
|
|
|
employees do not need to be involved
in the strategic process but do need to be involved in the operational
process. |
2 points
Question
18
- A small firm's ability to identify
and manipulate the ________ in its business determines its ability to
compete effectively.
|
|
key success factors |
|
|
|
corporate vision and mission |
|
|
|
opportunities and threats |
|
|
|
market environment |
2 points
Question
19
- ________ focuses everyone's
attention and efforts on the same target market. It is an expression of
what the owner believes in.
|
|
The mission statement |
|
|
|
The company vision |
|
|
|
The strategic plan |
|
|
|
The operational plan |
2 points
Question
20
- The strategic planning process for
small businesses is:
|
|
market-focused. |
|
|
|
the same as it is for a large
company. |
|
|
|
generally done by top management with
little or no participation by employees. |
|
|
|
product-focused and similar to that
for large companies. |
USA 
India