What is the purpose of the Evaluation Conference in Performance Management?

To review and discuss the results of the evaluation and plan for performance improvement

To complete the evaluation form

To identify the personnel needs of the company

To match abilities and interests with specific jobs

According to the text, what contributes to a growing economy?

Businesses expanding and consumers buying more goods and services

The use of automated machinery and electronic equipment

Technology improving efficiency in the workplace

Maintaining a productive and satisfying work environment

What are the major human resources goals mentioned in the Human Resources Overview?

To identify the personnel needs of the company and maintain an adequate supply of people

To increase the efficiency of producing goods and services

To reduce the need for production workers in manufacturing industries

To focus on the specific job duties of each employee

What is the role of white-collar, blue-collar, and service workers in the workforce?

They are all necessary in the workforce

Only white-collar workers are necessary

Only blue-collar workers are necessary

Only service workers are necessary

Which federal law disallows pay discrimination based on gender?

The Age Discrimination in Employment Act of 1967

The Americans with Disabilities Act of 1990

What does the Civil Rights Act of 1964 prohibit in terms of job discrimination?

Discrimination based on gender and national origin

Discrimination based on disability

Pay discrimination based on gender

Which act protects individuals who are 40 years of age or older from discrimination?

The Age Discrimination in Employment Act of 1967

The Americans with Disabilities Act of 1990

What type of institutions specialize in training students for specific occupations such as court reporter, computer technician, barber, or medical assistant?

Private business schools and other institutions

Four-year colleges and universities

Two-year schools, often called community colleges or junior colleges

What is one benefit of volunteering in community service according to the text?

It helps in gaining career experiences and improving work habits

It requires less time than other activities

Which of the following should be avoided when sending a résumé by e-mail?

Bold, underline, italics, and tabs

What is a proprietorship?

A business owned and run by just one person.

A business owned and controlled by two or more people who have entered into a written agreement.

A separate legal entity formed by documents filed with a state.

Businesses involved in selling the goods and services of producers to consumers and other businesses.

What is a partnership agreement?

A written agreement among all owners detailing the rules and procedures that guide ownership and operations.

A written legal document that defines ownership and operating procedures and conditions for the business.

A precise statement of results the business expects to achieve.

Guidelines used in making consistent decisions.

What defines a corporation?

A separate legal entity formed by documents filed with a state.

A business owned and run by just one person.

A business that carries out activities that are consumed by its customers.

A written agreement among all owners detailing the rules and procedures that guide ownership and operations.

What is the purpose of articles of incorporation?

They are a written legal document that defines ownership and operating procedures and conditions for the business.

They are guidelines used in making consistent decisions.

They are a written contract granting permission to operate a business in a set way.

They are a written statement of the reason a business exists and what it wants to achieve.

What is a mission statement?

Short, specific written statement of the reason a business exists and what it wants to achieve.

A written legal document that defines ownership and operating procedures and conditions for the business.

A precise statement of results the business expects to achieve.

Guidelines used in making consistent decisions.

A written contract granting permission to operate a business to sell products and services in a set way.

A business owned and run by just one person.

A business that carries out activities that are consumed by its customers.

A separate legal entity formed by documents filed with a state.

What does an organization chart represent?

A diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.

A written legal document that defines ownership and operating procedures and conditions for the business.

A precise statement of results the business expects to achieve.

Guidelines used in making consistent decisions.

What is the definition of an entrepreneur?

Someone who takes a risk in starting a business to earn a profit.

A government agency that helps small business owners.

An independent business with fewer than 500 employees.

The amount of money needed to open the business.

What does the term 'venture capital' refer to?

Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.

A list of steps to be followed for performing a particular work activity.

An invention or creation that is brand new.

A diagram that shows the structure of an organization.

What is the Small Business Administration (SBA)?

A government agency that helps small business owners develop business plans and obtain financing and other support for their companies.

The process of starting, organizing, managing, and assuming the responsibility for a business.

An independent business with fewer than 500 employees.

Money needed for the main resources of a business that will last for many years.

What is 'start-up financing'?

The amount of money needed to open the business.

The process of starting, organizing, managing, and assuming the responsibility for a business.

An invention or creation that is brand new.

A designed change that increases the usefulness of a product, service, or process.

What does 'long-term financing' refer to?

Money needed for the main resources of a business that will last for many years.

A list of steps to be followed for performing a particular work activity.

Someone who takes a risk in starting a business to earn a profit.

A government agency that helps small business owners.

What is the purpose of short-term financing in a business?

To pay for the current operating activities of a business

To fund the purchase of fixed assets

To increase the company's stock value

What is the goal of management?

To accomplish the goals of an organization through the effective use of people and other resources

To ensure the business has a competitive marketing strategy

To maintain the highest level of inventory

To solely focus on profit maximization

What does management style refer to?

The way a manager treats and involves employees

The financial strategies used by a manager

The method a manager uses to evaluate performance

The type of business model a manager prefers

What is the purpose of controlling in management?

To determine to what extent the business is accomplishing the goals it set out to reach in the planning stage

To manage the company's external communications

To organize team-building activities

To implement new technologies in the workplace

What is the focus of implementing in the context of a manager's responsibilities?

To direct and lead people to accomplish the planned work of the organization

To organize the office space and environment

To manage the company's investment portfolio

What does human relations involve?

The way people get along with each other

The financial interactions between companies

The legal contracts between employees and employers

The networking strategies used in business

What is influence in the context of business?

Power enabling a person to affect the actions of others

The market share a company holds

The ability to predict economic trends

The branding and image of a company

What are ethical business practices meant to ensure?

The appropriate standards of conduct are observed in a company's relationships.

A reduction in the number of employees to make the business more efficient.

The amount of money paid to an employee for work performed.

The transfer of work to another company at a lower cost.

What are core values in a company?

The important principles that guide decisions and actions in the company.

The amount of money paid to an employee for work performed.

The transfer of work to another company at a lower cost.

A planned reduction in the number of employees needed in a firm.

Who is included in the workforce as defined in the document?

People 16 years or older who are employed or looking for a job.

Only the employees who are currently working.

Employees who have been with a company for more than 5 years.

Individuals who are part of downsizing efforts.

What is the purpose of downsizing in a firm?

To make the business more efficient by reducing the number of employees.

To ensure ethical business practices.

To increase the number of employees for better productivity.

To transfer work to another company.

What is job analysis?

A specific study of a job to identify the job duties and skill requirements.

The process of paying an employee for work performed.

The principles that guide decisions in a company.

The act of transferring work to another company.

What does compensation refer to in the context of employment?

The amount of money paid to an employee for work performed.

The principles that guide company decisions.

The transfer of work to another company.

A reduction in the number of employees.

What is outsourcing as defined in the document?

Removing work from one company and sending it to another company that can complete it at a lower cost.

The principles that guide decisions in a company.

The amount of money paid to an employee for work performed.

A planned reduction in the number of employees in a firm.

What does the term "benefits" refer to in an employment context?

Compensation in forms other than direct payment

The termination of an employment relationship

The assignment of an employee to another job with similar responsibility

An organized group of employees negotiating with employers

Unit 2 - Review - Business Organization and Management

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Unit 2 - Review - Business Organization and Management

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Unit 2 - Review - Business Organization and Management

60 questions

What is the most important role of businesses in the U.S. economy according to the study guide?

What must a business do to remain successful, according to the study guide?

Where does most of the capital needed to start most businesses come from?

When is there little need for an organizational structure in a business?

At what age do many entrepreneurs own their first business?

What is a common reason for the closure of businesses started by entrepreneurs?

How much initial capital do owners report they needed on average to start home-based businesses?

What educational level have almost all people starting small businesses achieved at least?

Which of the following is NOT one of the five functions of managers' work as mentioned in the text?

Which of the following is NOT listed as an important human relations skill needed by leaders and managers?

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