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ALL of the questions are True or False: Janice has established a small consulting business as a sole proprietorship.
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ALL of the questions are True or False:

  • Janice has established a small consulting business as a sole proprietorship. Her brother warned her about Unlimited Liability, the legal principle that any legal damages or debts incurred by her business will be her personal responsibility.
  • Every Partnership is required to have at least ( 1 ) General Partner.
  • Before establishing long-term goals, a firm needs to have a clear assessment of its business. Such analysis is commonly referred to as SWOT, which stands for: Strengths, Weaknesses, Opportunities, & Threats.
  • Middle-Level Managers are generally responsible for developing & creating the organization's Mission Statement.
  • Conceptual skills are especially important to managers because they are skills that give managers the ability to understand the " big picture" or to understand the relationship of parts of the whole.
  • Ethnocentrism is often accompanied by an unwillingness to understand alternative points of view and to take the values they represent seriously.
  • Wider spans of control are expected when tasks are complex, when subordinates are inexperienced or poorly trained, or when tasks call for team effort.
  • Decentralization increases when the discretion to spend money, to hire people, and to make similar decisions is moved farther up the hierarchy of authority.

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