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
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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