Question 1

Connie's consulting business has grown steadily over the course of four years. However, Connie recently has found that some of the jobs are not being completed on time, and there is more stress due to a greater reliance on partners and employees. Connie is most likely experiencing which of these?

Accepted Answer

Connie's situation describes "growing pains," which are challenges businesses face as they expand, such as managing increased workload, relying more on employees and partners, and ensuring timely completion of jobs.

Question 2

Within the ______ role, the manager needs to identify fresh new ideas and innovations.

Accepted Answer

The entrepreneur role involves seeking new opportunities, initiating new projects, and driving innovation within the organization. Managers in this role focus on identifying and implementing new ideas and innovations.

Question 3

At work on a typical day, Kathleen, a sales manager, spends a portion of her day talking to customers and suppliers, but she also organizes work activities and leads a team of assistants. She has to ensure that quality standards are being met within the company. This example demonstrates that ______.

Accepted Answer

Kathleen's activities encompass various functions of management such as organizing, leading, and controlling, illustrating how these functions are ongoing and interconnected in the daily operations of a manager.

Question 4

Controlling, defined, is comparing what was initially ______ with what was actually ______.

Accepted Answer

Controlling involves comparing the planned outcomes or objectives with the actual accomplishments to ensure that activities are aligned with the planned objectives.

Question 5

Efficiency, defined, is ______.

Accepted Answer

Efficiency is about accomplishing goals and tasks in a manner that makes the most of the resources available, which includes time, money, and materials. It's not solely about profit, output, or doing tasks correctly on the first attempt, but rather about the optimal use of resources to achieve objectives.

Question 6

Gina's Pizza has been in operation for three years, and the business has recently expanded to include multiple locations with a head manager at each location. Gina's Pizza is most likely in which business growth stage?

Accepted Answer

The takeoff stage in business growth is characterized by rapid expansion, which often includes opening new locations and adding significant staff, such as head managers for each location, indicating that Gina's Pizza is in the takeoff stage.

Question 7

Organizing involves all but which of the following?

Accepted Answer

Organizing in management refers to the process of arranging resources such as financial resources, human resources, and materials to achieve organizational goals. Assembling invoices, however, is more related to administrative or clerical tasks rather than the core function of organizing within the context of management.

Question 8

The ______ stage of growth involves the owner hiring other people.

Accepted Answer

The survival stage of growth involves the owner hiring other people to help manage the increased workload that comes with business expansion.

Question 9

The ______ stage of growth involves the owner running the business alone.

Accepted Answer

The existence stage of growth is when the business is just starting out, and typically, the owner is handling all aspects of the business alone, focusing on acquiring customers and delivering the product or service.

Question 10

Management can be described as planning, leading, organizing, and controlling in order to achieve the ______ of the organization.

Accepted Answer

Management involves planning, leading, organizing, and controlling resources and activities to achieve the goals of the organization. Goals can be financial, social, environmental, or related to other aspects of organizational success.

Question 11

Planning is ______ what to do.

Accepted Answer

Planning is determining what to do.

Question 12

Leading, defined, is the process of getting the most ______ possible from the available ______.

Accepted Answer

Leading is about maximizing output from the resources available, which includes human resources, financial resources, raw materials, and technology.

Question 13

Within the ______ role of management, the manager needs to determine the direction of the company.

Accepted Answer

The leader role of management involves setting the direction of the company.

Question 14

The ______ stage of growth involves the owner adding levels of supervision to lead departments or divisions.

Accepted Answer

The answer of The ______ stage of growth involves the...

Question 15

Which of the following people were responsible for first articulating the four functions of management in 1916?

Accepted Answer

Henri Fayol was the first to identify the four functions of management: planning, organizing, leading, and controlling, in 1916.

Question 16

One of Brandon's primary roles on the production line is to continuously determine if quality control standards are being met. This relates to which managerial role?

Accepted Answer

The role of a monitor in managerial positions involves continuously assessing the performance of an organization and its practices to ensure they meet established standards, which aligns with the task of determining if quality control standards are being met.

Question 17

Effectiveness, defined, is achieving which of the following?

Accepted Answer

Effectiveness is about achieving stated goals, regardless of the specific nature of those goals, which could range from profit and growth to social impact or innovation.

Question 18

During the ______ stage of business growth, the greatest concerns are to consolidate and control the finances and to professionalize the organization.

Accepted Answer

During the resource maturity stage, a business focuses on consolidating and controlling its finances and professionalizing the organization. This stage follows the initial phases of start-up, survival, and success/growth, and it is characterized by a need for more structured and formal management processes.

Question 19

The best stage of growth is ______.

Accepted Answer

Each stage of growth presents its own unique challenges and opportunities. No single stage can be universally considered better than the others, as the best stage depends on the specific goals, context, and circumstances of the business.

Question 20

Signs of growing pains include all but which of the following?

Accepted Answer

Growing pains in a business typically refer to challenges such as jobs not being delivered on time, costs rising out of control, and a feeling of chaos within the business. Inadequate building size, while it can be a symptom of growth, is more related to physical expansion needs rather than the operational or managerial challenges that characterize growing pains.

Quiz 14: Professional Small Business Management