BUS402 Week 10 Quiz Latest 2017 (All are correct)

Question 12 out of 2 pointsWhen a small business owner increases the variety of skills needed on a job, permits the worker to complete an entire job rather than a portion of it, and gives the worker more freedom of decision on how to perform the job, the owner is using:Question 22 out of 2 pointsEmployees’ biggest complaint about performance appraisals tends to be:Question 32 out of 2 pointsEffective leaders are noted for their:Question 42 out of 2 pointsWhen workers are empowered:Question 52 out of 2 pointsWhen checking references, the small business owner:Question 62 out of 2 pointsAn effective performance appraisal system:Question 72 out of 2 points________ involves cross-training employees so they can move from one job in the company to others, giving them a greater number and variety of tasks to perform.Question 82 out of 2 pointsA ________ is used by the owner of a small business to determine wage and salary increases, need for training, overall job progress, etc., among other things.Question 92 out of 2 pointsA company’s culture:Question 102 out of 2 pointsWhen it comes to enforcing employment laws and the job interviewing process, the EEOC:Question 112 out of 2 pointsSometimes effective communication is blocked between leaders and followers by:Question 122 out of 2 pointsWhen employees can set their own work hours within certain guidelines, they are involved in:Question 132 out of 2 pointsA ________ outlines the duties and responsibilities associated with a job and the working conditions involved.Question 142 out of 2 pointsFor a pay-for-performance system to work, it should:Question 152 out of 2 pointsA motivational tool that also helps to guide performance and lets the owner know that his/her company is accomplishing its operational goals is:Question 162 out of 2 pointsIn an, ________ managers and/or employees borrow money from a financial institution and pay the owner the total agreed-upon price at closing; then they use the cash generated from the company’s operations to pay off the debt.Question 172 out of 2 pointsThe use of a formal family counsel with an open discussion of all ideas is a way to demonstrate the essential quality of:Question 182 out of 2 pointsWhat are the exit strategies available to entrepreneurs when it is time to step down?Question 192 out of 2 pointsA formal mentoring program should be established in ________, using both internal and external people. As the successor develops his/her skills and performance, he/she will transition to the next stage.Question 202 out of 2 pointsA small fireworks manufacturer that shuts its plant down permanently because the risk of fire and the resulting losses are too great is relying on a risk ________ strategy.Question 212 out of 2 pointsThe most common and popular estate planning tool for small business owners is the:Question 222 out of 2 pointsA company using a risk transfer strategy would do which of the following?Question 232 out of 2 pointsSmall business owners have a number of options for controlling health care costs, such as:Question 242 out of 2 pointsWhen a business owner purchases protection for losses occurring when a contract is not completed on time or is performed incorrectly, it is buying ________ insurance.Question 252 out of 2 pointsWhile a large percentage of business founders plan to pass on their businesses, few create management succession plans because:Question 262 out of 2 pointsA small business that puts aside a specific amount of money into a special fund each month to cover the cost of replacing its highly specialized manufacturing equipment is using a risk ________ strategy.Question 272 out of 2 points________ allow employees and/or managers (that is, the future owners) to purchase the business gradually, which frees up enough cash to finance the venture’s future growth.Question 282 out of 2 points________ insurance is protection from loss, theft, or destruction applied to vehicles, buildings, etc. It can be written with a broad coverage or to cover a specific item or items.Question 292 out of 2 pointsA small business that buys a fire insurance policy on the equipment in its corrugated box factory is relying on a risk ________ strategy.Question 302 out of 2 pointsThe ________ is a transfer of ownership strategy for an owner to transfer the company to his/her children while retaining control over it him/herself.