GB 370 Gentry Final Exam – Complete Study Guide and Key
Concepts
In countries like Russia and Greece, family and background count for more than
performance does. - AnswerTrue
Hierarchy as an organization is necessary for - AnswerUnity of Command
In highly assertive countries, competition between
individuals and groups is discouraged. - AnswerFalse
Only supervisors are affected by the principles of management. - AnswerFalse
Working with people from different countries can be a
challenge because of - AnswerLanguage issues and different cultural norms
As a manager, if you feel like you are wearing a lot of hats, this is a good thing. -
AnswerTrue
The company that relies on computer and
telecommunications technologies instead of physical presence for communication
between employees is a - AnswerVirtual Organization
Which of the following is not a type of manager described
in the Levels of Management? - AnswerSection Managers
The penetration of mobile phones is changing the way we do business because -
AnswerPeople are are more connected and able to share more information
Frederick Taylor is most famous for - AnswerTime studies
Managers do not spend all of their time managing. - AnswerTrue
People in societies where uncertainty avoidance is high - AnswerWant strict rules,
laws, and policies
A way to test ideas in small steps is - AnswerExperimentation
In high power distance countries, decision-making power is distributed equally among
the groups. - AnswerFalse
Which of the following is not a disadvantage of franchising? - AnswerReduced
financial risk of new business success
, You can refer to a lawyer who does a good job for our company as a valuable asset. -
AnswerTrue
What is something you don't have to do before the trademark search of your new idea
names? - AnswerNarrow to only one, maybe two, name ideas
Even if your company isn't incorporated, you can still use the word "Inc." in your firm
name. - AnswerFalse
Which option below is the fastest growing segment of small-business enterprise? -
AnswerServices
When choosing an accountant, you want to find out their services, fees, and -
AnswerPersonality
The legal structure for your company is important, but not in relating to taxes. -
AnswerFalse
The most common forms of business are sole proprietorship, partnership, corporation,
and - AnswerS-Corporation
Which is the legal structure with the easiest start-up process? - AnswerSole
Proprietorship
Most of the products created in the high-technology sectors are created by large
corporations. - AnswerFalse
The ability to learn faster from customers is the essential competitive advantage
startups must posses. - AnswerTrue
The IRS does not have any restrictions on non-profit organizations. - AnswerFalse
In the _____ section of a business plan, you describe the target market and description
for your product or service. - AnswerBusiness Description
What is not a benefit of a corporation? - AnswerOwners of the corporation only pay a
single tax
Which of the following is not an element of a corporation? - AnswerTaxes are easy
and tied to the individual owner's income tax
Targeting teenagers is a specific enough target market for your niche. - AnswerFalse
Typically, only big companies need assistance from accountants. - AnswerFalse
Concepts
In countries like Russia and Greece, family and background count for more than
performance does. - AnswerTrue
Hierarchy as an organization is necessary for - AnswerUnity of Command
In highly assertive countries, competition between
individuals and groups is discouraged. - AnswerFalse
Only supervisors are affected by the principles of management. - AnswerFalse
Working with people from different countries can be a
challenge because of - AnswerLanguage issues and different cultural norms
As a manager, if you feel like you are wearing a lot of hats, this is a good thing. -
AnswerTrue
The company that relies on computer and
telecommunications technologies instead of physical presence for communication
between employees is a - AnswerVirtual Organization
Which of the following is not a type of manager described
in the Levels of Management? - AnswerSection Managers
The penetration of mobile phones is changing the way we do business because -
AnswerPeople are are more connected and able to share more information
Frederick Taylor is most famous for - AnswerTime studies
Managers do not spend all of their time managing. - AnswerTrue
People in societies where uncertainty avoidance is high - AnswerWant strict rules,
laws, and policies
A way to test ideas in small steps is - AnswerExperimentation
In high power distance countries, decision-making power is distributed equally among
the groups. - AnswerFalse
Which of the following is not a disadvantage of franchising? - AnswerReduced
financial risk of new business success
, You can refer to a lawyer who does a good job for our company as a valuable asset. -
AnswerTrue
What is something you don't have to do before the trademark search of your new idea
names? - AnswerNarrow to only one, maybe two, name ideas
Even if your company isn't incorporated, you can still use the word "Inc." in your firm
name. - AnswerFalse
Which option below is the fastest growing segment of small-business enterprise? -
AnswerServices
When choosing an accountant, you want to find out their services, fees, and -
AnswerPersonality
The legal structure for your company is important, but not in relating to taxes. -
AnswerFalse
The most common forms of business are sole proprietorship, partnership, corporation,
and - AnswerS-Corporation
Which is the legal structure with the easiest start-up process? - AnswerSole
Proprietorship
Most of the products created in the high-technology sectors are created by large
corporations. - AnswerFalse
The ability to learn faster from customers is the essential competitive advantage
startups must posses. - AnswerTrue
The IRS does not have any restrictions on non-profit organizations. - AnswerFalse
In the _____ section of a business plan, you describe the target market and description
for your product or service. - AnswerBusiness Description
What is not a benefit of a corporation? - AnswerOwners of the corporation only pay a
single tax
Which of the following is not an element of a corporation? - AnswerTaxes are easy
and tied to the individual owner's income tax
Targeting teenagers is a specific enough target market for your niche. - AnswerFalse
Typically, only big companies need assistance from accountants. - AnswerFalse
