Chapter 19 - Chapter 19Professional Management in the Entrepreneurial Firm TRUE\/FALSE 1 Individuals who are launching promising startups need to have a

Chapter 19 - Chapter 19Professional Management in the...

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Chapter 19—Professional Management in the Entrepreneurial Firm TRUE/FALSE 1.Individuals who are launching promising startups need to have a “tolerance for ambiguity”. PTS: 1 REF: p. 495 OBJ: 19-1 TYPE: C 2.An automobile dealer wants to use the modern management concept of work teams. To do so, he should reduce direct supervision in the body shop. PTS: 1 REF: p. 497 OBJ: 19-1 TYPE: A 3.A florist began asking employees for their ideas about the business. This practice is a good illustration of empowerment. PTS: 1 REF: p. 497 OBJ: 19-1 TYPE: A 4.Entrepreneurs who are professional in their work are sometimes described as using an approach that is scientific in nature. PTS: 1 REF: p. 500 OBJ: 19-2 TYPE: C 5.Founders may fail to appreciate the value of good management practices. PTS: 1 REF: p. 500 OBJ: 19-2 TYPE: C 6.In small businesses, poor management is prevalent and inevitable. PTS: 1 REF: p. 501 OBJ: 19-2 TYPE: C 7.A small business typically lacks the marketing research tools that big corporations have. PTS: 1 REF: p. 501 OBJ: 19-2 TYPE: C 8.The early growth stages of a new business involve significantly less change than that which occurs during the growth of a relative mature business. PTS: 1 REF: p. 502 OBJ: 19-2 TYPE: C
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9.Intermediate supervision, which occurs in Stage 3 of small business growth, involves the use of budgets, personnel policies, organizational charts, and computerization. PTS: 1 REF: p. 503 OBJ: 19-2 TYPE: D 10.When a firm reaches Stage 2 (player-coach) in its growth, the entrepreneur withdraws from personal participation in production, selling, writing checks, and record keeping. PTS: 1 REF: p. 503 OBJ: 19-2 TYPE: D 11.The intermediate supervision stage of business growth is a turning point because the entrepreneur must learn to rise above direct management and work through an intermediate level of managers. PTS: 1 REF: p. 503 OBJ: 19-2 TYPE: D
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