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42. Which of the following is an advantage that small firms have over large businesses?a. The ability to produce services and products quickly and cheaplyb. Significant financial resources slackc. The ability to respond quickly to changesd. Critical knowledge spread across the firms' human resources pool43. _____ states that individuals make decisions that maximize their own individual benefits.
44. Ray, a manager in Fir Tree Inc., a large and established firm, must travel to attend an annual conference. He books the most convenient flight tickets and a room in a luxurious hotel right next to the venue of the conference. Ray justifies these decisions by stating that these are time-saving measures. Ray's decisions can be best explained _____.45. Why can a small business owner make decisions quicker than a big business?46. Zeus Cisterns is a large manufacturing firm with several employees. Many of the firm's employees are knowledgeable about the firm's various operations and requirements. Accordingly,the organization's functioning is barely affected when an experienced employee quits. Further, in an emergency, various employees can fulfill any critical role that needs to be handled immediately. Given these characteristics, Zeus Cisterns can be said to have _____.a. bounded rationalityb. organizational slackc. a strong resource networkd. a loyal worker-base47. In the context of entrepreneurial businesses, which of the following is an advantage that small businesses have over big businesses?48. What does a potential entrepreneur need to consider when starting a new business?49. The break-even point is defined as