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Question
(p. 39-40) Discuss the challenge of succession faced by family businesses.
Answer
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Related questions
Q:
_____ means having a way for the person who has failed to meet a metric, or made a mistake, or is facing firing to have their side of the story heard.
A. Job basics
B. Job metrics
C. Benchmarking
D. Line of appeal
Q:
Which of the following is true of new employees in terms of communication?
A. Fostering a sense of teamwork creates envy among employees and discontent among the other members.
B. Sharing the vision and the mission of the business puts pressure on new employees.
C. Scheduling brief one-on-one meetings helps communicate the goal of an employee's position and expectation of performance.
D. Giving feedback on a consistent basis regarding performance undermines new employees' confidence.
Q:
Which of the following psychological contract items would fall under the factor of an employee's autonomy and growth?
A. Health care benefits
B. Retirement benefits
C. Tuition reimbursement
D. Increasing responsibilities
Q:
According to Jill Kickul's study, which of these factors is least important to employees?
A. Work facilitation
B. Benefits
C. Rewards and opportunities
D. Autonomy and personal growth
Q:
According to Jill Kickul's research, which of these factors is most important to employees?
A. Autonomy and personal growth
B. Benefits
C. Rewards and opportunities
D. Job security
Q:
Which of the following is the first step in crafting a job description?
A. Writing job overview
B. Writing duties and responsibilities
C. Writing job title
D. Writing credentials and experience
Q:
Which of the following is a feature of Internet recruiting in small businesses?
A. It is extremely underused.
B. It slows down the process of hiring.
C. It is vastly high in accuracy of job-search process.
D. It has a long turnaround time.
Q:
The Family and Medical Leave Act requires employers to give employees up to _____ weeks leave, paid or unpaid, without loss of position, seniority, or benefits, for a qualifying condition or event.
A. 2
B. 6
C. 12
D. 20
Q:
Which of the following federal employment laws prohibits discrimination with respect to any condition of employment based on race, color, sex, religion, or national origin, except where religion, sex, or national origin is a bona fide occupational qualification which is reasonably necessary to the conduct of a particular business?
A. Fair Labor Standards Act
B. Title VII of the Civil Rights Act of 1964
C. Worker Adjustment and Retraining Notification Act
D. Executive Order No. 11246
Q:
Which of the following is true of full-time employees?
A. Full-time employees make it imperative for you to spend significant time with the business without taking any time off.
B. Full-time employees are reluctant to take on high responsibility.
C. Full-time employees take more time to understand the business.
D. Full-time employees provide the ability to dramatically increase a business's hours open, material produced, or sales.
Q:
Lines of communication means having a way for the person who has failed to meet a metric, or made a mistake, or is facing firing to have their side of the story heard.
Q:
Perks is a great way to provide long-term boosts in motivation.
Q:
After determining whether one is hiring someone for an hourly or salaried position, one of the first steps in developing a compensation plan is to determine the organization's salary philosophy.
Q:
Making training an ongoing process is a good way to encourage dialog with employees when their learning curve goes flat.
Q:
On-the-job techniques include orientations, job instruction training, lectures, and case studies.
Q:
Discuss the different transfer strategies for managing transfers within a family.
Q:
Explain the various stages of the product life cycle.
Q:
_____ is the source of the largest amount of employee theft.
A. Employee collusion
B. Employee intoxication
C. Adverse possession
D. Employee nonfeasance
Q:
A type of internal control that separates the physical control of an asset from the person accounting for that asset is called _____.
A. asset liability
B. adverse possession
C. separation of duties
D. separation of liabilities
Q:
_____ are programs designed to report on a user's keystrokes or data, or give remote control of a PC to others.
A. Hubs
B. Firewalls
C. Viruses
D. Spyware
Q:
Which one of the following government agencies was created to enforce safety in the workplace?
A. EEOC
B. OSHA
C. SBA
D. IRS
Q:
The level of probability that the future economic state of the business will be worse than expected is referred to as _____.
A. business risk
B. economic certainty
C. business continuity
D. business amortization
Q:
All businesses within an industry have to pay the same amount, as decided by the state, as unemployment insurance.
Q:
The ADA Technical Assistance Program provides inspection and affirmation services to help small businesses.
Q:
Adverse possession occurs when an owner of real property does not enforce property rights and allows a nonowner to use the property as if it were his or her own.
Q:
Returns at levels higher than the entrepreneur could make working for others are known as:
A. substitution profits.
B. marginal profits.
C. supplemental profits.
D. success profits.
Q:
Which of the following is an accurate statement in the context of CSFs that help to identify the businesses that are more likely to survive?
A. Businesses starting with no start-up capital are least likely to survive long term.
B. Bootstrap entrepreneurs, who start with nothing, are most likely to keep overhead costs high.
C. The strongest benchmark is to have proven the business idea through salesin a pilot test, or through contracts, and orders.
D. Pursuing an imitator strategy shows lower learning from the mistakes of pioneers.
Q:
The popular name for a Chapter 7 bankruptcy in which a bankrupt firm's assets are sold by the bankruptcy trustee and the proceeds used to pay the firm's debts is _____.
A. liquidation
B. amortization
C. reorganization
D. depreciation
Q:
Which of the following is a type of termination that is employed when the entrepreneur feels that the business was less than successful, usually because of the result of poor use of the firm's assets combined with an unsatisfying business experience?
A. Bankruptcy
B. Walkaway
C. Sell off
D. Workout
Q:
In a successful walkaway:
A. contracts, leases, and the like are in effect.
B. employees are let go as they find other jobs.
C. ongoing lawsuits consume money and time.
D. assets or inventory are available.