BUS 402 BUS402 Quiz 10 Answers

BUS 402 BUS402 Quiz 10 Answers

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BUS 402 Quiz 10

  1. When employees can set their own work hours within certain guidelines, they are involved in:
  2. Teams can be helped to succeed by:
  3. Open book management is one technique that supports:
  4. The grapevine in most organizations is:
  5. To increase the effectiveness of communication between the small business owner and his/her employees, he/she should practice:
  6. Effective leaders are noted for their:
  7. When workers are empowered:
  8. A motivational tool that also helps to guide performance and lets the owner know that his/her company is accomplishing its operational goals is:
  9. If a company is to succeed, a leader must perform four vital tasks which include:
  10. A ________ outlines the duties and responsibilities associated with a job and the working conditions involved.
  11. The process of influencing and inspiring others to work to achieve a common goal and then giving them the power and freedom to achieve it is called:
  12. Experienced business owners who make effective hires:
  13. Empowerment works best in work environments where:
  14. When motivating employees, small business owners need to know that:
  15. A job specification:
  16. A 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.
  17. A company using a risk transfer strategy would do which of the following?
  18. While a large percentage of business founders plan to pass on their businesses, few create management succession plans because:
  19. ________ 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.
  20. When a business owner purchases protection for losses occurring when a contract is not completed on time or is performed incorrectly, it is buying ________ insurance.
  21. In ________ of the management succession process, the successor's real decision-making power grows rapidly. The final assessment of the individual's abilities is determined.
  22. A 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.
  23. In a grantor-retained annuity trust:
  24. A(n) ________ is an agreement between a grantor and a trustee where the trustee holds legal title to property for the beneficiaries of the trust.
  25. A small business that buys a fire insurance policy on the equipment in its corrugated box factory is relying on a risk ________ strategy.
  26. ________ offer liability coverage that protects against losses resulting from injuries, damage, or theft involving the use of company vehicles.
  27. Life insurance differs from all other types of insurance in that:
  28. In ________ of the management succession process, the successor is allowed to rotate through a variety of jobs to broaden the base understanding of the business as well as to have his/her skills evaluated.
  29. A ________ is a special type of irrevocable trust and has become one of the most popular tools for entrepreneurs to transfer ownership of a business while maintaining control over it and minimizing estate taxes.
  30. When a risk is evaluated in terms of how much it could affect a company's ability to operate, the risk is being assessed in terms of:

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