Deck 11: Leadership and Its Challenges

Question 1

A leader is someone who influences others to work towards a common goal

Answer 1

True

Question 2

Leadership is a born trait and cannot be learned

Answer 2

False

Question 3

Harmonious passion entails strong and uncontrollable affliction with one's work

Answer 3

False

Question 4

Obsessive passion is consistent with work-family balance

Question 5

While harmonious passion may produce superior outcomes in the short-run, obsessive passion is desirable for winning in the long-term

Question 6

Obsessive passion can be detrimental for both the company and its owner

Question 7

Small business owners need to pursue the sunk cost fallacy

Question 8

The sunk cost fallacy refers to the human tendency to continue an endeavor or behavior because they have already invested in it.

Question 9

Humility is one of the important leadership traits for business owners

Question 10

Transformational leadership is most suitable for organizations that need to change

Question 11

Employees working for transformational leaders focus on what is good for them

Question 12

Transformational leaders rely on their charisma to influence employees

Question 13

Transformational leadership must be a preferred approach for entrepreneurs during all circumstances

Question 14

There are disadvantages of an inauthentic approach to leadership for small business owners

Question 15

In small firms, it is important for employees to perceive their leaders as authentic

Question 16

The key aspect of authentic leadership is self-awareness

Question 17

A leader with steady-hand leadership style maintains the status quo and focuses on improving the operational efficiency of the company

Question 18

Abusive leadership generates unhappiness in the workplace and increases stress for everyone.

Question 19

According to research, there is an inverted U relationship between stress and performance

Question 20

Allostatic load results in fatigue, frustration, anger and burnout in entrepreneurs

Question 21

In small firms, owners frequently find themselves dealing with interpersonal stressors

Question 22

In small firms, owners need to be good at managing their own-and others-emotions

Question 23

A personal board of advisors is usually a paid role and is obligated to make decisions that are in the best interest of the firm

Question 24

Meditation can be helpful for entrepreneurs in reducing stress and increasing well-being

Question 25

Business owners who delegate well are great managers and supportive bosses

Question 26

The person who influences others to work towards a common goal is known as a:

A) Follower
B) Leader
C) Change manager
D) Partner

Question 27

Which of the following qualities are important to successfully manage one's own business:

A) Passion
B) Humility
C) Resilience
D) All of the above

Question 28

Which of the following is true about passion:

A) It is a negative emotion
B) It is a momentary emotion triggered by an object in the environment
C) It is a short term mood
D) It is a combination of intense positive emotions and identity

Question 29

__________ is an intense positive emotion that channels one's energy and fuels motivation to start and run a business

A) Resilience
B) Humility
C) Entrepreneurial passion
D) Challenge

Question 30

_________entails strong and uncontrollable affliction with one's work

A) Obsessive passion
B) Harmonious passion
C) Resilience
D) None of the above

Question 31

David is owner of a home-electronics store. He continues to work weekends and long hours. He does not spend time with his family and is always busy with his work. He believes his work is more important than his family. Consequently, he is not able to enjoy his family life. He is demonstrating _________

A) Harmonious passion
B) Obsessive passion
C) Resilience
D) Humility

Question 32

Which of the following are the dysfunctional outcomes of Passion?

A) Rigid persistence
B) Low firm performance
C) Failure to pivot when needed
D) All of the above

Question 33

_________refers to the capacity to recover quickly from difficulties and setbacks

A) Obsessive passion
B) Resilience
C) Humility
D) Harmonious passion

Question 34

Katie has invested $50,000 in the project. Although she has lost a considerable amount of money in the same project, she refuses to terminate the project because she is sure she will eventually earn a profit. Katie is demonstrating:

A) An operational decision
B) A tipping point
C) An Allostatic load
D) A sunk cost fallacy

Question 35

Which of the following are characteristics of a humble leader?

A) Self-awareness of strength and weaknesses
B) Openness to learning
C) Appreciative of others' strengths and contributions
D) All of the above

Question 36

The "four I's" of transformational leadership are:

A) Influence, integrity, ideology, impulsive
B) Inspirational motivation, intellectual stimulation, individualized consideration, idealized influence
C) Integrity, intellectual stimulation, impulsive, individualized consideration
D) individualized structure, inspirational motivation, ideological, impartial

Question 37

Adam encourages his employees to think outside the box and work harder. He shows great interest in his employees' personal lives and challenges. He frequently communicates company's vision to his employees. He likes to provide independence and autonomy to his employees. Which of the following best describes Adam's leadership style?

A) Servant leadership
B) On-job leadership
C) Transactional leadership
D) Transformational leadership

Question 38

Transformational leaders influence employees by creating changes in their _____.

A) Education
B) Pay
C) Goals, values, and beliefs
D) Skills

Question 39

What is true about authentic leaders?

A) Authentic leaders try to imitate other successful leaders
B) Authentic Leaders exhibit genuine leadership
C) Authentic leaders are low on values
D) Authentic leaders are low on self-awareness

Question 40

Frank is owner of a home electronics store. He uses symbols and speeches to communicate company's vision to employees. He encourages his employees to bring new ideas to the table. He makes sure that he is available to listen to employees' concerns. Employees enjoy working with him. Frank is using _______leadership style to influence employees:

A) Transformational
B) Transactional
C) Servant
D) Narcissistic

Question 41

How do transformational leaders influence their employees?

A) They set easy performance expectations for employees
B) They motivate employees to work for a high purpose and empower them
C) They use their power and authority to get the work done
D) They offer rewards in exchange of the work

Question 42

An underlying characteristic of _______ leadership is that leaders focus on serving the needs of people

A) Transformational leadership
B) Transactional leadership
C) Authentic leadership
D) Servant leadership

Question 43

"My goal is to lead by serving the needs of my people." This statement reflects _______ leadership.

A) Transactional
B) Servant
C) In-group
D) Trait

Question 44

Smith is considered a 'tough boss'. He humiliates applicants during recruitment, criticizes his employees in front of others and yells at them for the purpose of eliciting greater performance. Which of the following leadership style does Smith have?

A) Abusive
B) Humility
C) Transactional
D) Trait

Question 45

What is true about stress and performance?

A) Before the tipping point, stress is counterproductive
B) Everyone has different tipping points for stress
C) After the tipping point, stress improves performance
D) There is an inverted U relationship between stress and performance

Question 46

Which of the following are causes of the stress that business owners face?

A) Financial
B) Interpersonal
C) Uncertainty in the business
D) All of the above

Question 47

________refers to a condition where the stress switch is stuck in the half-on position

A) Allostatic load
B) Tipping point
C) Hustle porn
D) Sunk fallacy

Question 48

Which of the following can produce work-life conflict for business owners?

A) Working long hours
B) Having difficulty relaxing and no real time off
C) Not spending time with family
D) All of the above

Question 49

Which of the following should business owners avoid to cope with their stress:

A) Exercise
B) Steroids
C) Personal board of advisors
D) Life coaches

Question 50

Entrepreneurs find it difficult to delegate the simplest of tasks because they _____

A) Fear of losing control
B) Lack the patience to explain what they need to get done
C) Think that only they can do the task
D) All of the above