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Ch. 5 Small Business, Entrpreneurship, and Franchising
Ch. 6 The Nature of Management
Ch. 8 Managing Service and Manufacturing Operations
Ch. 7 Organization, Teamwork and Communication
Hakuna Matata
100
an individual who is ready and able to take rish in order to create and manage a new business
What is entrepreneur
100
5 Management Functions
What is planning, organization, staffing, directing, and controlling
100
Organizations create ______, ________, ________, or ______ for customers.
What is products, goods, services, or ideas.
100
A firm's shared values, beliefs, traditions, philosiphies, rules, and role models for behavior is ________.
What is organizational culture.
100
What is an alternative for entrepreneurs that do not wish to start a brand new business?
What is franchise.
200
what is the leading advantages of small business ownership
What is independence
200
The levels of management are high, middle, and low.
False (Top, Middle, First Line)
200
Any good, service or idea that is the result of conversions of inputs is __________.
What is outputs.
200
The simplest form of organizational sturcture that directs lines of authority from the top manager to the lowest level employees is __________.
What is line structure.
200
List 4 Advantages of a Franchise.
What is Brand Name Appeal, Standardized Quality of Goods, Financial Assistance, Proven Products and Business Formats, Centralized Buying Power, Site Selection and Territorial Protection, and Greater Chance for Success.
300
which of the following are disadvantages of small business ownership? High Failure Rate, Undercapitalization, or Inexperience.
What is high failure rate, undercapitalization, inexperience
300
A mission is a declartion of an organization's fundamental purpose and business philosophy. True or False
What is True
300
Manufacturing is the act and process used in making tangible products, also known as __________.
What is production.
300
Communication flows through an organization in three different ways: _________, ___________, and __________.
What is Formal, Informal, and Monitoring.
300
Who is the purchaser of the franchise?
What is franchisee.
400
in order to set themselves apart from competitors, businesses must use ________ to improve uponcurrent ideas and products
What is innovation
400
Long range objectives and overall strategy or course of action by which firm fufillsit's mission is ___________.
What is Strategic Plans
400
Operations is goods, services, and ideas that result from conversion of inputs. True or False.
False. What is the activities and processes used in making tangible and intangible products.
400
An example of this type of employee task-assigning organizational strategy can be commonly found in factory assembly lines.
What is specialization.
400
List 3 shortcomings of a franchise.
What is Fanchise Fees and profit sharing, strict adverence to standardized operations, restricting on purchasing, limited product line, possible market saturation and less freedom in business decisions.
500
in order to enable wide-spread communications between individuals and businesses, small businesses have begun to use _______ for many purposes
What is social networking sites
500
Motivating and leading employees to achieve organizational objectives is _____________.
What is Directing.
500
Making of products to meet particular customer needs or wants is __________.
What is customerization.
500
The four common departmentalization categories include: __________________, ______________, ____________, and _______________.
What is Functional, Product, Geographical, and Customer.
500
What kind of risk-taker does an entrepreneur represent?
What is a skydiver?