Bus Mgmt Chapters 1-3

Business environment is a major factor in developing a management strategy.

• True

• False

Business competition is the rivalry among companies for customers.

• True

• False

Vacations and sick days were common during the Industrial Revolution.

• True

• False

Managers complete the management functions and have authority over other jobs and people.

• True

• False

Many employees of a business complete tasks similar to management activities.

• True

• False

Managers are responsible for the success or failure of a company.

• True

• False

An experienced employee who is given the responsibility to be the leader of a group is classified as a manager.

• True

• False

Supervisors spend all of their time on management activities.

• True

• False

The percentage of U.S. workers over the age of 55 is expected to rise between now and 2050.

• True

• False

Employees benefit from understanding management principles even if the employee decides not to go into management.

• True

• False