Which of the following BEST defines those who assume the risk of business ownership

What should competitors establish when collaborating on a project that might have mutual​ gain?

A strategic alliance
n a strategic alliance, two or more organizations collaborate on a project for mutual gain. When partners share ownership of what is essentially a new enterprise, it is called a joint venture.

Who is responsible for the​ day-to-day management and overall performance of an​ organization?

Chief Executive Officer
The Board of Directors hire a team of managers to run the firm. This team, called officers, is usually headed by the firm's chief executive officer (CEO) who is responsible for overall performance.

Which of the following is NOT a central aspect of organizational​ citizenship?

Business field The qualities that make a good organizational citizen, such as willingness to work overtime if asked, are common across business fields.
TRUE:

• Workgroup attitude
• Corporate culture
• Team composition
• Reporting structure

Which of the following aspects of the psychological contract is provided by the​ employee?

Which of the following are groups of small investors seeking to make profits on companies with rapid growth​ potential?

Venture capital companies
Most venture capital companies do not lend money, instead, they supply capital in return for partial ownership or representation on boards of directors.

In a small​ business, who determines prices for wholesalers and​ customers?

Market forces
Even independent and small businesses have relatively little influence in their markets, and prices are determined by the market forces that are often out of the hands of the small business owner.

What type of skills requires defining problems and selecting the best course of action to​ take?

Which of the following BEST defines those who assume the risk of business​ ownership?

Entrepreneurs
People pursue entrepreneurship for a variety of reasons, and those who assume the risk of business ownership are called entrepreneurs.

According to​ McClelland, which of the following represents the desire to control​ one's environment?

The need for power
A third major individual need is the need for power-the desire to control one's environment, including financial, material, informational, and human resources.

If a business owner needs money for​ expansion, but does not want to give up sole control over the​ business, what type of partnership would be​ best?

Limited partnership
The limited partnership allows for limited partners who invest money but are liable for debts only to the extent of their investments. They cannot, however, take active roles in business operations.

Which key element of a business plan will determine​ inventory, size of space​ required, and number of employees​ needed?

Sales forecasting
Although a key element of any business plan is sales forecasts, plans must carefully build an argument for likely business success based on sound logic and research. Entrepreneurs, for example, can't forecast sales revenues without first researching markets.

Which of the following industry groups is the fastest growing segment of small business​ enterprise?

Which of the following is the most frequently used method of setting performance goals to motivate​ behavior?

Management by objectives
Management by objectives (Performance goals are also commonly used to direct and motivate behavior. The most frequent method for setting performance goals is called management by objectives (MBO), which is a system of collaborative goal setting that extends from the top of an organization to the bottom.)

If an employee needs to feel that she is a part of a team and yet her position involves working​ alone, which of the following may NOT be​ right?

The​ person-job fit Aspects of a person's personality should be taken into consideration when assigning tasks.
TRUE:

• The​ employee's attitude
• The​ organization's plan
• The pay scale
• The team structure

When conducting a SWOT analysis of an​ organization, which question can help management brainstorm for the strengths section of the​ analysis?

What does the organization offer that makes it stand out from other​ organizations?

Fostering new ideas and innovation and resolving conflicts within a department is a responsibility under which managerial​ role?

Which of the following is NOT considered an organizational​ strength?

Changing consumer tastes
Organizational strengths are any number of positive attributes within an organization from which the organization might benefit. Option C is not from within the organization.

When a company attempts to change its​ culture, what must take place to give the new culture solid shape within the​ firm?

The firm must set up new systems for appraising and compensating employees who enforce the new values.

If an employee feels they have the skills and ability needed to perform a task​ well, they are better able to focus their attention on performance because of their high degree of

​self-efficacy.
Self-efficacy is a related but subtly different personality characteristic. A person's self-efficacy is that person's belief about his or her capabilities to perform a task. People with high self-efficacy believe that they can perform well on a specific task, whereas people with low self-efficacy tend to doubt their ability to perform a specific task.

An employee is encouraged to apply for a​ promotion, but does not because he has children and wants to be home in the evening. Based on expectancy​ theory, which of the following explains why the employee​ doesn't apply for the​ job?

The​ rewards-personal goals issue
Sue does not feel that the rewards obtained from the new position will outweigh the value she places on being with her family in the evening.

Which level of management sets general​ policies, formulates​ strategies, approves all significant​ decisions, and represents the company in dealings with other firms and with government​ bodies?

Which would an employee who is productive but refuses to help others or the organization be lacking​ in?

Organizational citizenship

If an organization sets out to increase its share of the snack food market by 10 percent during the next eight​ years, what kind of goal is the organization​ setting?

Which of the following allows people to choose their working hours by adjusting a standard work schedule on a daily or weekly​ basis?

Flextime programs
Flextime allows workers to accommodate the needs of their personal life, such as family and childcare demands.

The titles of​ supervisor, office​ manager, and group leader are examples of which level of​ management?

​First-line management
First-line managers spend most (but not all) of their time working with and supervising the employees who report to them.

Which description identifies the organizing function of the management​ process?

Determining how best to arrange an​ organization's resources into a coherent structure
This function is sometimes illustrated through the use of organization charts, which help everyone understand roles and reporting relationships.

What do both sole proprietorships and partnerships​ lack?

Which of the following represents the​ fastest-growing segment of minority business​ ownership?

African Americans
The number of businesses owned by African Americans increased by 60 percent during the most recent five-year period for which data is available.

Which of the following is used to guide a​ person's behavior?

Intention
Intention guides a person's behavior. You may intend to do one thing, but later alter your intentions because of a more significant and central attitude.

How can organizations best deal with emergencies requiring immediate​ response?

Who are the people who assume the risk of business ownership?

What do you call a person who takes a risk by starting a business they think will be successful?

Which of the following is considered to be a significant disadvantage of owning a franchise?

Which of the following is the process of seeking business opportunities under conditions of risk?