Which of the following is the mark of a well managed company quizlet?
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Terms in this set (60)As the organization grows, managerial skills emerge out of entrepreneurial skills. False Essentially customer needs do not change, therefore you need to identify them and maintain focus. False Managers should constantly develop the firm's entrepreneurial capability. True The opportunity domain is one of the four driving forces in the growth stages of any firm. True A typical acquisition gives the owner 50% in cash and 50% in the acquiring company's stock False It is always best to appoint a CEO from the employees who were with the company from the very beginning False Businesses with less risk and less complexity are the most wanted candidates for acquisitions. False At the core of the growth model lays execution. True Stockholders have the largest impact on a firm's growth potential False During the early growth, the entrepreneur needs to focus on the company's strategy True Execution has the most direct link to profits True The most critical first task in transitioning a business beyond the startup stage is to sustain an entrepreneurial organization. False Managing cash is one of the key objectives of a control system True You should try to implement a complex system of control from the early stages of growth False Rapidly growing administrative and selling expenditures are often appropriate True Performance measures in an early-stage company are designed more for helping in entrepreneurial decision-making than for evaluating current performance True Performance measures for a growing firm should be simple and inexpensive to track True The Cash Cycle shows the relationship between three key metrics: days in payables, assets turnover, and days sales are outstanding False It is possible to have a negative cash conversion period True Diversifying opportunities in early stages of the company generates better results than crafting only one False The company should be driven only by opportunities that leverage current capabilities False Bootstrapping policy should not be discontinued once the company is successful True Key people in the organization are hired professional managers False The best management team consists of both internally promoted and externally hired people True As the company grows, bureaucracy has to be increasingly instilled to help coordinate different departments False Well run companies that manage cash well are likely to be offered more favorable types and terms of funding. True Tracking performance is necessary to support quality decision making. True It will often be acceptable for an entrepreneur to find him/herself routinely doing portions of other people's jobs during growth. False The majority of your performance tracking efforts should be focused on your competition during your initial growth stages. False Tracked items and metrics should be focused on supporting specifically anticipated decisions to the greatest extent possible. True What does entrepreneurship begin with? Opportunity What is the least likely to lead to a failure in growth management? Spending time on planning What skills become increasingly important at later stages of development for a company? Managerial Which of the following is not a part of the driving forces in the growth stages? The entrepreneur What is NOT an option an entrepreneur must consider beyond startup? Leaving the venture According to the chapter, 50% of businesses started today will not exist in how many years? 8 What fraction of firms started today, according to the chapter, will still be growing and profitable in eight
years? 1/7 In a typical acquisition deal, what portion of the selling price does the entrepreneur receive in cash? 1/3 of the price What option does the
entrepreneur have if he or she decides to maintain a business? Become a manager What is the core of the growth model? Execution Who or what has the largest impact on a firm's growth potential? Stakeholders What should an entrepreneur focus on during early growth? Strategy The chapter warns that which of the following can lead to poor coordination between different activities within the company? Uncontrolled growth Which of the following is not
mentioned in the chapter as a key objective for a control system? To create culture An effective control system includes all of following except: A risk-assessment ratios tracking After tracking key metrics in your company's performance, what should alert you that it may be time to consider making adjustments in your policies? If the changes in your company are not the result of changes in your policies What does cash cycle ratio show? Time between purchase of supplies and collection of accounts receivable generated in the sale of a product A positive cash conversion period means that: You are receiving cash after you deliver products/services A series of steps showing the activities and
entities that we need to coordinate in order for the company to execute its product or service is called: Value chain What do customers usually want the company to do with its products? To improve the products they know best Which of the following is not a source of financing for early growth? All of them are sources What could identification of your firm's range of value chain activities help you to detect? Resources draining side projects What best characterizes an entrepreneur? Opportunity driven What purpose should the board of directors serve as a company professionalizes? Strategic According
to the Driving Forces of Growth Model, opportunity domain interacts with which of the following? Organizational capabilities Which of the following is NOT characteristic of an effective performance tracking system? The system is exhaustive of all possible metrics for a given questions Which of the following are signs that your venture
may be growing too fast? A & B only, The percentage of your cash flows from operations is declining against your cash flows from financing, Profit margins are shrinking as sales are rising Which of the following may be a common error when an entrepreneur tries to transition to an entrepreneurial leader (pick one). Avoids hiring managers whose domain experience exceeds their own Which of the following is NOT an important factor is recruiting a board of directors? The board members likely willingness to join the company as a senior manager in the future Which of the following is a sign that an entrepreneur is delegating well. Cross talk commonly solves problems before they are brought to the attention of the entrepreneur Students also viewedChapter 1360 terms bellayoun Chapter 1447 terms bellayoun Com 3930 test 2 ch 659 terms tamara_brown7 FIN 410 CH 1537 terms arielle4810 Other sets by this creatorCh 12. Entrepreneurial Management Final Exam Prep48 terms sjohar16 Ch 11. Entrepreneurial Management Final Exam Prep54 terms sjohar16 Ch 10. Entrepreneurial Management Final Exam Prep59 terms sjohar16 Ch 9. Entrepreneurial Management Final Exam Prep58 terms sjohar16 Recommended textbook solutions
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What are the 4 functions of management and their meaning?There are four basic functions of management into which nearly every action or process can be categorized:. Planning functions.. Organizing functions.. Leading functions.. Controlling functions.. Which one of the following is an important job responsibility of a middle manager?Middle managers and supervisors are responsible for managing, leading and supporting workers to understand and meet work health and safety (WHS) policies and procedures.
Which of the following is an example of a decisional role of a manager?Finally, there are four decisional roles. These include being an entrepreneur, disturbance handler, resource allocator, and also a negotiator.
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