1Goals of management of small business
All of the above: Motivating employees, Getting work done, Influencing employees
2Assigning duties & coordinating efforts is known as
All of the above: Planning, Organizing, Managing
3Staffing includes
All of the above: Recruiting, Indoctrinating, Selecting
4Incentive wages – NOT true
Quality more important than quantity
5Conveying meaning from sender to receiver is known as
Communicating
6Task-oriented leadership style
Authoritarian Leadership
7Establishing standards & correcting deviations is known as
Controlling
8Why should budgets be flexible?
All of the above: Allow for unexpected developments, Tie organization together, Goal-oriented
9Sales revenue equals cost of production is called
Break even
10Job dissatisfaction indicators
All of the above: Labor turnover, Waste & scrap, Absenteeism
11Used to uncover employee dissatisfaction
All of the above: Customer feedback, Exit interviews, Monthly meetings
12Understanding and maintaining customer relationships is
Marketing
13People promoting company & products are called
Marketers
14Market characteristics include
All of the above: Interest, Income, Access
15Goal of marketing system
All of the above: Maximize choice, Maximize consumption, Maximize quality of life
16Introduces business to public
Promotions
17Component of marketing mix
All of the above: Promotions, Place, Product
18Recommended time for market research
Before opening
19In the formula Q = n × q × p, p represents
Price
20Methods to collect data in market research
All of the above: Mail surveys, Telephone interviews, Questionnaires