QUESTION Departmentalization of labor occurs when A) a company divides different employees into units based on their roles. B) managers share employees across the departments they are responsible for. C) an organization has violated a law defined by the U.S. Department of Labor. D) a firm’s highest-paid workers are allocated to its headquarters facility. […]
QUESTION Giant Corp has departments responsible for delivering products and services to specific regions where Giant does business. This structure is called _________ departmentalization. A) functional B) customer C) product D) geographic ANSWER D
QUESTION A person who blends traditional entrepreneurial business development with objectives for the greater good of society is a(n) ________. a. intrapreneur b. business purchaser c. social entrepreneur d. franchisee ANSWER c
QUESTION In a franchise agreement, a franchisor is ________. a. the parent company b. the local owner c. the supplier d. the customer base ANSWER a
QUESTION A team ________ the sum of its parts. a. is equal to b. is greater than c. has no relationship to d. is less than ANSWER b
QUESTION What term describes the level of competition in which there are many buyers and sellers of products that are virtually identical and where any seller can easily enter or exit the market? a. monopoly b. monopolistic competition c. oligopoly d. perfect competition ANSWER d
QUESTION What is one of the reasons an entrepreneur might want to consider buying an existing business? a. Staff loyalty to the company is guaranteed. b. It is easy to change customer’s perception of the company if needed. c. It is not necessary to start the business from scratch. d. There is no need to […]
QUESTION Empowerment means giving employees control of and responsibility for running a particular part of a project, with minimal oversight. Indicate whether the statement is true or false ANSWER TRUE
QUESTION When a group becomes more cohesive and the individual members begin to feel part of a team, the group is in the team development stage of ________. a. performing b. adjourning c. storming d. norming ANSWER d
QUESTION A number of stores at Findley Market sell fresh fruits and vegetables. The products appear to be identical and the prices differ little, if at all. What type of market structure is this? a. monopoly b. monopolistic competition c. oligopoly d. perfect competition ANSWER d
