BUS 402 QUIZ 10
BUS 402 Quiz 10
1.
When employees
can set their own work hours within certain guidelines, they are involved in:
2.
Teams can be
helped to succeed by:
3.
Open book
management is one technique that supports:
4.
The grapevine in
most organizations is:
5.
To increase the
effectiveness of communication between the small business owner and his/her
employees, he/she should practice:
6.
Effective
leaders are noted for their:
7. When workers are
empowered:
8.
A motivational
tool that also helps to guide performance and lets the owner know that his/her
company is accomplishing its operational goals is:
9.
If a company is
to succeed, a leader must perform four vital tasks which include:
10.
A ________
outlines the duties and responsibilities associated with a job and the working
conditions involved.
11.
The process of
influencing and inspiring others to work to achieve a common goal and then
giving them the power and freedom to achieve it is called:
12.
Experienced
business owners who make effective hires:
13.
Empowerment
works best in work environments where:
14.
When motivating
employees, small business owners need to know that:
15. A job specification:
16.
A small business
that puts aside a specific amount of money into a special fund each month to
cover the cost of replacing its highly specialized manufacturing equipment is
using a risk ________ strategy.
17.
A company using
a risk transfer strategy would do which of the following?
18.
While a large
percentage of business founders plan to pass on their businesses, few create
management succession plans because:
19. ________ insurance is protection from loss, theft, or destruction applied
to vehicles, buildings, etc. It can be written with a broad coverage or to cover a
specific item or items.
20. When a business owner
purchases protection for losses occurring when a contract is not completed on
time or is performed incorrectly, it is buying ________ insurance.
21. In ________ of the
management succession process, the successor's real decision-making power grows
rapidly. The final assessment of the individual's abilities is determined.
22. A small fireworks
manufacturer that shuts its plant down permanently because the risk of fire and
the resulting losses are too great is relying on a risk ________ strategy.
23. In a grantor-retained
annuity trust:
24. A(n) ________ is an
agreement between a grantor and a trustee where the trustee holds legal title
to property for the beneficiaries of the trust.
25. A small business that
buys a fire insurance policy on the equipment in its corrugated box factory is
relying on a risk ________ strategy.
26. ________ offer
liability coverage that protects against losses resulting from injuries,
damage, or theft involving the use of company vehicles.
27. Life insurance differs
from all other types of insurance in that:
28. In ________ of the
management succession process, the successor is allowed to rotate through a
variety of jobs to broaden the base understanding of the business as well as to
have his/her skills evaluated.
29. A ________ is a
special type of irrevocable trust and has become one of the most popular tools
for entrepreneurs to transfer ownership of a business while maintaining control
over it and minimizing estate taxes.
30. When a risk is
evaluated in terms of how much it could affect a company's ability to operate,
the risk is being assessed in terms of:
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