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Business Development
Q:
Money loaned for a 5-to 10-year term, corresponding to the length of time the investment will bring in profits
Q:
When using the low-cost strategy for supply chain management, a firm should use buffer stocks to ensure speedy supply.
Q:
An informal agreement between a borrower and a bank as to the maximum amount of funds the bank will provide an any one time
Q:
An SBA program that provides short-term loans of up to $50,000 to small businesses and not-for-profit child-care centers
Match the term with its definition.
a. Asset-based loan
b. Basis point
c. Chattel mortgage
d. Equipment loan
e. LIBOR (London InterBank Offered Rate)
f. Line of credit
g. Prime rate
h. Purchase-order financing
i. Term loan
Q:
The supply chain for a brewery would include raw ingredients such as hops and barley but not the manufactured goods such as bottles and cans.
Q:
Funds provided by wealthy private individuals to high-risk ventures
Q:
Even though a firm may have a low cost strategy, supply-chain strategy can select suppliers primarily on response or differentiation.
Q:
An SBA loan program that provides long-term financing for small businesses to acquire real estate or machinery and equipment
Q:
How does labor specialization assist in reducing labor costs? (List three ways.)
Q:
Privately owned banks, regulated by the SBA, that provide long-term loans and/or equity capital to small businesses
Q:
Provide at least three examples of non-monetary incentives.
Q:
________ systems provide some portion of any profit for distribution to employees.
Q:
Individuals who form limited partnerships for the purpose of raising venture capital from large institutional investors
Q:
A(n) ________ is a group of empowered individuals working together to reach a common goal.
Q:
An SBA program that helps to finance companies that plan to transform laboratory research into marketable products
Q:
A loan program that helps small companies obtain financing through a guaranty provided by the SBA
Q:
________ involves enlarging employee jobs so that the added responsibility and authority is moved to the lowest level possible in the organization.
Q:
A lender that uses frunds from federal, state, and private sources to priovide financing to small businesses in low-income communities
Q:
The ________ studies showed that there is a dynamic social system in the workplace.
Q:
Which type of equity-based crowdfunding will, with SEC approval, allow unaccredited investors to invest?
a. Type 1
b. Type 2
c. Type 3
d. Soliciting investments from unaccredited investors is never allowed in crowdfunding.
Match the definition with its term.
a. 7(a) Loan Guaranty Program
b. 7(m) Microloan Program
c. Certified Development Company (CDC) Loan Program
d. Community-based financial institution
e. Formal venture capitalists
f. Informal venture capital
g. Loan covenants
h. Small Business Innovative Research (SBIR) Program
i. Small business investment companies (SBICs)
Q:
________ is a method of giving an employee more responsibility that includes some of the planning and control necessary for job accomplishment.
Q:
In addition to the interest rate on his business loan, Paul should also give attention to:
a. the maturity date.
b. the reserve requirement.
c. the tax liability of the loan.
d. the LIBOR on the day the loan is approved.
Q:
________ is the grouping of a variety of tasks using the same approximate skill level.
Q:
Instead of borrowing money from suppliers to purchase equipment, an increasing number of small businesses are
a. obtaining trade credit instead.
b. making these purchases outright.
c. choosing to lease the equipment.
d. opting to streamline assembly processes to reduce expenditures.
Q:
________ is an approach that specifies the tasks that constitute a job for an individual or a group.
Q:
Which of the following statements regarding incentive systems is FALSE?
A) Bonuses are often used at the executive levels.
B) About half of all American manufacturing firms use productivity incentives.
C) Profit-sharing systems provide some part of the profit for distribution to employees.
D) The Scanlon plan is based on team productivity.
E) Increasing use of cross-training has led to increasing use of knowledge-based pay systems.
Q:
If a Eugenie finances her firm with equity rather than debt, her net income could potentially be greater because
a. equity financing almost always leads to better firm performance than debt financing.
b. the terms of equity financing are more stable than the terms of debt financing.
c. equity financing has a positive impact on asset selection.
d. there is no interest expense.
Q:
Management and labor share the labor cost reductions in which of these compensation schemes?
A) bonus system
B) quota system
C) Scantron plan
D) Scanlon plan
E) measured day work plan
Q:
Connie owns a small but growing company that produces gorilla glass for smartphones. One possible source of funding might be:
a. Dell Computers, a well-known PC manufacturer.
b. Intel, who produces computer chips.
c. Microsoft, a company that markets software applications.
d. Samsung, who sells smartphones.
Q:
Which of the following is not a limitation of job expansion?
A) higher capital cost
B) higher wage rates
C) smaller labor pool
D) higher training costs
E) All of the above are limitations of job expansion.
Q:
Nancy has decided to raise working capital for her upscale boutique business which currently has four locations and is considering franchising the concept in the next few years. Because of the current company organization and anticipated future plans, the most likely form of financing would be ________.
a. large corporations
b. private placement
c. public sale
d. underwriting
Q:
Guaranty loans are
a. made by private lenders.
b. guaranteed up to 50 percent by the SBA.
c. made through foreign banks.
d. limited to $100,000.
Q:
When a worker obtains clear and timely information about his/her performance, his/her job includes which of the following characteristics?
A) feedback
B) skill variety
C) job identity
D) job significance
E) autonomy
Q:
Glenda is trying to decide between the use of debt and the use of equity to finance her young business. She should remember that:
a. her return on assets will be less if she uses debt financing. b. using other peoples money to finance ones business is seldom a good idea.
c. the lender will have partial control of the business. d. debt must be repaid even if the company does not make a profit.
Q:
The difference between job enrichment and job enlargement is that:
A) enlarged jobs involve vertical expansion, while enriched jobs involve horizontal expansion.
B) enriched jobs enable an employee to do a number of boring jobs instead of just one.
C) job enlargement is more psychologically satisfying than job enrichment.
D) job enrichment is suitable for all employees, whereas job enlargement is not.
E) enriched jobs involve vertical expansion, while enlarged jobs involve horizontal expansion.
Q:
To determine how well her business is doing, Darlene should monitor the return on her investment (equity) because it is a better measure of performance than
a. the return on assets ratio.
b. the current ratio.
c. the quick ratio.
d. the absolute dollar amount of income.
Q:
Which of the following statements describes job rotation?
A) The job contains a larger number of similar tasks.
B) The job includes some planning and control necessary for job accomplishment.
C) The operator works on different shifts on a regular basis.
D) The operator's schedule is flexible.
E) The operator is allowed to move, for example, from one type of CNC machine to another.
Q:
Sandy is using a governmental program to help finance her new business. Her company is not eligible for a loan through a normal lending channel and is receiving $120,000 with the SBA guaranteeing 85 percent of the loan. She also had to submit a loan application to the lender. Ellie is participating in the
a. 7(a) Loan Guaranty Program.
b. Certified Development Company 504 Loan Program.
c. Small Business Innovative Research Program.
d. 7(M) Microloan Program.
Q:
Which of the following terms implies an increase in responsibility and control in the vertical direction?
A) job rotation
B) job enrichment
C) job re-design
D) job enlargement
E) job satisfaction
Q:
Which of Hackman and Oldham's five job characteristics refers to providing a worker a say in the work methods that he/she wishes to utilize?
A) skill variety
B) job identity
C) job significance
D) feedback
E) autonomy
Q:
Private placement
a. is the sale of capital stock to selected individuals.
b. is the sale of capital stock to investment bankers.
c. requires compliance with all securities laws.
d. maintains the ownership control of the original owners.
Q:
Will has decided to invest $10,000 into his neighbors new company. The money will be used in the early stages of development. Will is considered a
a. venture capitalist.
b. business angel.
c. business contributor.
d. loan specialist.
Q:
What is the behavioral approach to job design that involves giving the worker more tasks requiring similar skills?
A) job enlargement
B) job enrichment
C) job enhancement
D) job rotation
E) job involvement
Q:
Barry needs financing to start his inner-city venture. His goal is to provide part-time employment for at-risk youths to keep them off the streets and engaged in learning marketable skills. Barry may find some assistance from:
a. a community-based financial institution.
b. the Small Business Innovative Research Program.
c. a small business investment company.
d. a venture capital firm.
Q:
Four of the components of job design are:
A) employment stability, work schedules, work sampling, and motivation & incentive systems.
B) job specialization, job expansion, psychological components, and self-directed teams.
C) labor specialization and enrichment, motivation and incentive systems, employment stability, and work sampling.
D) ergonomics and work methods, method time measurement, work schedules, and incentive systems.
E) labor specialization, time studies, work sampling, and pre-determined time standards.
Q:
Profit-sharing is a motivation and incentive system where executives receive stock options.
Q:
The federal government primarily provides funds to small businesses through
a. venture capital companies.
b. the Small Business Administration.
c. business angels.
d. the Securities and Exchange Commission.
Q:
Job expansion can lead to increased labor cost because of the extra workers hired in the expansion.
Q:
Annas new business looks like it can grow quickly and become profitable in its first year. Anna will likely find _____ possible sources of financing than those with less potential for growth and profits.
a. fewer
b. about the same number of
c. more
d. many more
Q:
Hackman and Oldham's five desirable characteristics of job design include job significance and autonomy.
Q:
One factor that influences the choice between debt and equity is the
a. returns anticipated from the enterprise.
b. risk of nationalization.
c. degree of control the owners hope to retain.
d. state of the owners' estate plan.
Q:
Maguire was considering selling stock as a source of funds but was concerned about:
a. damaging his corporate image.
b. the loss of voting control of the company.
c. the effect that might have on future financing.
d. estate planning.
Q:
The Hawthorne studies, which showed that there is a dynamic social system in the workplace, took place in the 1960s.
Q:
Galen runs an Greek restaurant and is currently considering leasing or purchasing some updated equipment. What statement is correct?
a. Because the equipment he is buying will become outdated in two years, leasing would be a better option than purchasing.
b. Because the restaurant is new and he wants to protect his cash flow, purchasing would be better since purchasing costs less than leasing.
c. If the equipment is leased, the restaurants lines of credit will be increased.
d. Leasing is always more expensive than purchasing over the term of the lease
Q:
Psychological factors have little relevance in the design of assembly line jobs because those jobs involve physical products and production technology.
Q:
A line of credit is the _____ amount of credit a bank will provide a borrower at any one time.
a. average
b. annual
c. maximum
d. minimum
Q:
Fredrick W. Taylor is credited with introducing psychology into the workplace.
Q:
Job rotation is a version of job enlargement.
Q:
In his presentation to his banker when he applies for a business loan to purchase additional equipment, Alan should emphasize:
a. how much profit the new equipment will, generate.
b. how he will be able to repay the principal of the loan.
c. how energy-efficient the new equipment is.
d. how much income he will generate for the bank.
Q:
An enlarged job has more responsibility than the same job enriched.
Q:
Ben left the corporate rat race to start his own business that will allow him to earn a small income while providing plenty of time to pursue his love of pottery making. He does not expect either growth or high profits. Bens prospects for attracting outside financing are:
a. plentiful. b. limited.
c. moderate. d. nonexistent.
Q:
A source of short-term funds for many small companies with inventories is
a. trade credit.
b. long-term bank loans.
c. mortgages.
d. asset-based notes.
Q:
What are the advantages and the disadvantages of the employment-stability policy of "hold employment constant?"
Q:
Before accepting money from a business angel, the entrepreneur should:
a. first make application for a bank loan.
b. use all available personal assets to finance the new venture.
c. request a loan from the angel instead of investment to prevent having to give up control.
d. make sure the business angel is accredited.
Q:
________ refers to a work schedule that deviates from the normal or standard five 8-hour days.
Q:
________ is a means of determining staffing policies dealing with employment stability, work schedules, and work rules.
Q:
Renata has asked her family members to help her launch her new business. She must consider that:
a. along with their financial futures, she may be putting the relationships at risk.
b. family members are not always the best business analysts.
c. some family members are unable to offer financial assistance.
d. getting their support does not guarantee the success of her business.
Q:
Even with all his billions and influence, Donald Trump, as an equity investor, cannot demand more than
a. those who have invested debt in the enterprise.
b. what is earned.
c. anticipated future financing.
d. established cash flows.
Q:
Working four shifts of ten hours each instead of five shifts of eight hours each is known as which of the following?
A) flextime
B) constant employment
C) part-time status
D) flexible workweek
E) flexwork
Q:
Commercial investors are sometimes called business angels.
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
Q:
A manufacturing plant allows its engineers to come in at 7 A.M. plus or minus an hour but still requires them to work 8-hour days. Which of the following scheduling techniques is the firm employing?
A) flextime
B) constant employment
C) part-time status
D) flexible workweek
E) compressed workweek
Q:
The two most basic policies associated with employment stability are:
A) job enrichment and job enlargement.
B) employment for life and guaranteed minimum wage.
C) follow demand exactly and hold employment constant.
D) incentive plans and piece-rate plans.
E) full-time and part-time.
Q:
When Ben left the corporate rat race to start his own pottery business, he used some of his retirement savings to finance the business. This practice is known as:
a. self-starting. b. cashing out.
c. bootstrapping. d. folly.
Q:
Flextime is a system that allows employees, within limits, to determine their own work schedules.
Q:
A source of early-stage capital financing for a company is financing from commercial banks.
a. True
b. False
Q:
Maintaining a stable workforce generally results in the firm paying higher wages than a firm that varies workforce level with demand.
Q:
If he holds true to the average, Donald Trump likely invests approximately _____ of his investment in later-stage businesses.
a. one-fourth
b. one-half
c. three-fourths
d. nearly all
Q:
Common stock can be sold to underwriters, but they do not guarantee the sale of securities.
a. True
b. False
Q:
The two extremes of employment stability policy are "follow demand exactly" and "keep demand constant."
Q:
Elyse wants to calculate her return on equity but has forgotten the formula. You tell her that return on equity equals
a. net income divided by owners equity.
b. owners equity divided by net income.
c. total assets divided by owners equity.
d. owners equity divided by total assets.