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Chapter 19—Professional Management in the Entrepreneurial FirmTRUE/FALSE1.Individuals who are launching promising startups need to have a “tolerance for ambiguity”.PTS:1REF:p. 495OBJ:19-1 TYPE: C2.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:1REF:p. 497OBJ:19-1 TYPE: A3.A florist began asking employees for their ideas about the business. This practice is a good illustration of empowerment.PTS:1REF:p. 497OBJ:19-1 TYPE: A4.Entrepreneurs who are professional in their work are sometimes described as using an approach that is scientific in nature.PTS:1REF:p. 500OBJ:19-2 TYPE: C5.Founders may fail to appreciate the value of good management practices.PTS:1REF:p. 500OBJ:19-2 TYPE: C6.In small businesses, poor management is prevalent and inevitable.PTS:1REF:p. 501OBJ:19-2 TYPE: C7.A small business typically lacks the marketing research tools that big corporations have.PTS:1REF:p. 501OBJ:19-2 TYPE: C8.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:1REF:p. 502OBJ: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:1REF:p. 503OBJ:19-2 TYPE: D10.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:1REF:p. 503OBJ:19-2 TYPE: D11.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:1REF:p. 503OBJ:19-2 TYPE: D