Question Details

BUS 402 Week 10 Quiz

•	Question 1

	If a business owner goes to self-directed work teams, he/she is most likely using the ________ style of management.			
	

			
•	Question 2

	Effective leaders are noted for their:			
	

•	Question 3

	The grapevine in most organizations is:			
	
			
•	Question 4

	Employees' biggest complaint about performance appraisals tends to be:			
	
•	Question 5

	Teams can be helped to succeed by:			
	:	  

			
•	Question 6

	When motivating employees, small business owners need to know that:			
	
•	Question 7

	
	A company's culture:			
	

			
•	Question 8

	
	Empowerment works best in work environments where:			
	  

			
•	Question 9

	
	Open book management is one technique that supports:			
	
			
•	Question 10

	
	A ________ outlines the duties and responsibilities associated with a job and the working conditions involved.			
	
			
•	Question 11

	If a company is to succeed, a leader must perform four vital tasks which include:			
	
			
•	Question 12

	When conducting the job interview, the small business owner should:			
	
			
•	Question 13

	
	Kim, the human resources manager, is conducting an orderly and systematic evaluation of all the facts about a new position in order to determine what kind of employee to hire and how to compensate the position. This is called a:			
		
•	Question 14

	
	When checking references, the small business owner:			
				
•	Question 15

	A job specification:			
	
	
•	Question 16

	
	A formal mentoring program should be established in ________, using both internal and external people. As the successor develops his/her skills and performance, he/she will transition to the next stage.			
	
			
•	Question 17

	________ is an essential quality for a successful family business but it can also become a barrier to change. When it provides a foundation, it works well, when it restricts the future, it becomes a barrier.			
	
			
•	Question 18

	
	While a large percentage of business founders plan to pass on their businesses, few create management succession plans because:			
	
			
•	Question 19

	What are the exit strategies available to entrepreneurs when it is time to step down?			
	
			
•	Question 20

	In an, ________ managers and/or employees borrow money from a financial institution and pay the owner the total agreed-upon price at closing; then they use the cash generated from the company's operations to pay off the debt.			
	
			
•	Question 21

	When a business owner purchases protection for losses occurring when a contract is not completed on time or is performed incorrectly, it is buying ________ insurance.			
	
			
•	Question 22

	
	The business owner's policy (BOP) typically includes only:			
	
			
•	Question 23

	The ________ is a transfer of ownership strategy for an owner to transfer the company to his/her children while retaining control over it him/herself.			
	
			
•	Question 24

	During the transfer of power, when the successor makes mistakes, the owner should:			
	
			
•	Question 25

	A company using a risk transfer strategy would do which of the following?			
	
			
•	Question 26

	
	________ allow employees and/or managers (that is, the future owners) to purchase the business gradually, which frees up enough cash to finance the venture's future growth.			
	
			
•	Question 27

	
	In a grantor-retained annuity trust:			
	
•	Question 28

	A small business that buys a fire insurance policy on the equipment in its corrugated box factory is relying on a risk ________ strategy.			
		
•	Question 29

	
	A company using a risk anticipation strategy would do which of the following?			
	
			
•	Question 30

	________ offer liability coverage that protects against losses resulting from injuries, damage, or theft involving the use of company vehicles.