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Small Business Management Entrepreneurship And Beyond 4th Edition Timothy S. Hatten - Solutions
T F The purpose of employee recruitment is to build a large enough pool of applicants to hire a qualified employee.
T F Résumés are a source of highly accurate and reliable information about an applicant.
T F During an interview you should make the candidate feel comfortable by asking questions about his family and hobbies.
T F Honesty tests have not been proven statistically valid or reliable enough to depend on for hiring decisions.
T F Employee training and development can be thought of as enhancing an existing competitive advantage.
T F Based on the Fair Labor Standards Act, employees are classified as either exempt or nonexempt.
T F The most highly valued employee benefit is a pension plan.
T F With a progressive approach, discipline is incremental and increasingly forceful.
Having current employees recommend new potential employees is called _____________ _____________.
The government agency that sets most employment guidelines is the _____________ _____________ _____________ _____________.
A job’s special requirements based on gender, religion, or national origin that legally allows an employer to hire on those bases constitute a _____________.
The training that an employee receives in the course of completing her job and receiving coaching/mentoring is called _____________ _____________ _____________.
A one-time reward an employee receives for exceeding a performance standard is a _____________.
What do you think? Are HSAs a good idea for White Stone?In January 2004, in a Knoxville hospital, Shannon van Tol gave birth to Tennessee’s first quintuplets:Meghan, Willem, Isabella, Ashley, and Sean. Amid the cigars, balloons, and donated diapers, Guille Cruze, CEO of the White Stone
Is Todd within his legal rights to take this action?If his actions are legal, what are some possible consequences?Todd owns and manages a T-shirt shop in a small resort town. He has two full-time employees who have been with the business for more than three years. He also employs as many as five
How would you have handled the situation if you were Todd?Todd owns and manages a T-shirt shop in a small resort town. He has two full-time employees who have been with the business for more than three years. He also employs as many as five part-time employees, depending on the tourist season. They
Find a copy of a small business’s employee handbook, either from your current job or from a local small business owner (it may be interesting just to find out how many don’t even have one). Compare the sections in this handbook with the “Employee Handbook” section in this chapter. Is
What is the difference between a job analysis and a job description? LO-3
When would you, as a small business owner, prefer to receive a résumé than an application form? LO-3
How is the use of temporary employees different from employee leasing? What are the advantages and disadvantages of each? LO-3
What are the differences between hard and soft issues during a job orientation? Is one more important than the other? LO-3
List the advantages of a flexible-benefit package to employees and to the employer. LO-3
Explain the four components of an effective disciplinary system. LO-3
Define “at-will” employment status. LO-3
Discuss three key pieces of legislation that are used to prevent job discrimination. LO-3
What factors influence the type and amount of employee benefits that a small business can offer? LO-3
Review the section on training new employees.Give examples of types of jobs that would best lend themselves to each training method. LO-3
List the elements of an operating system.
Describe how manufacturers and service providers use operations management.
Explain how to measure productivity.
Recount the methods of scheduling operations.
Discuss the role of quality in operations management.
Identify the three ways to control operations.
Discuss the elements of an operations management system. What would happen if the control system were not included? The feedback? Appendix
What is the difference between flexible production and mass customization? Appendix
Define productivity. Appendix
How can ergonomics be tied to productivity? Appendix
Explain the difference between forward and backward scheduling. Appendix
Define six sigma both technically and as used as a business standard. Appendix
What types of small businesses would benefit from having ISO 9000 certification? Appendix
Give examples of products that would be suited to each of the dispatching rules. Appendix
You have read about ISO 9000 certification in both Chapter 15 and this chapter. Bearing in mind that such certification is both time consuming and expensive, describe what type of small business should pursue it.
Using Figure 18.1 and Table 18.1 as models, describe Krispy Kreme’s inputs, transformation process, outputs, feedback, and control systems.Reread the chapter-opening vignette about Krispy Kreme. This vignette provides a lot of information about the company’s products and processes. Find related
How would you apply six-sigma principles to making doughnuts?Reread the chapter-opening vignette about Krispy Kreme. This vignette provides a lot of information about the company’s products and processes. Find related articles about the company and visit its website (www.krispykreme.com).
All of which led Martell to ask himself, if Magnetech was going to sink resources into recruiting workers, wouldn’t it make at least as much sense to invest in an in-house education program of its own? If the unions were no longer training apprentices, perhaps Magnetech would have to do it
Raw materials, employee skills, money, information, and energy are all that businesses use in production.a. inputsb. outputsc. outputsd. transformation process
Kerri is opening a microbrewery in which she will be making 20 barrels of low-carb, nonalcoholic brew at any given time. What type of process is Kerri using?a. analytic systemb. synthetic systemc. continuous processd. intermittent process
Jerry wants to keep productivity high in his job shop. He should look for ways to increase outputs while:a. keeping inputs constantb. decreasing inputsc. increasing costsd. decreasing revenue
Bruno’s Bongo Shoppe sold $500,000 worth of bongos and used $150,000 of resources. What was Bruno’s productivity ratio?a. 1.5b. 33.3c. 2.67d. 3.33
The use of statistical analysis to determine the probability of a variation in a product being a random occurrence or a continuous problem is known as:a. ISO 1400b. statistical process controlc. ISO 9000d. benchmarked process control
T F The key word describing Krispy Kreme’s success is “consistency”—the hallmark of operations management.
T F High-quality outputs can be produced from inferior inputs.
T F Only manufacturing businesses use the transformation process—not service businesses.
T F In the Reality Check titled “Stretching the Supply Chain,” Shelving Concepts improved its business profitability by buying the manufacturer that it used to purchase shelving from.
T F A business monitors and corrects problems and deviations through control systems.
T F Small businesses operating printing shops and custom jewelry shops use an intermittent process.
T F Productivity can be measured only in terms of total outputs and total inputs.
T F A tolerance range consists of the boundaries that a manager sets for acceptable quality for a product.
T F Feedforward quality control involves the inspection of finished products.
T F Benchmarking involves comparison of anything that can be measured.
Explain the importance of marketing to small businesses.
Describe the process of developing a small business marketing strategy.
Discuss the purpose of the market research process and the steps involved in putting it into practice.
What would happen to a business without a marketing strategy? Why?
You decide that you need to create a survey to get customer feedback on a new product you have developed, but then you realize, “Oh, no! I’ve never created and administered a real survey before!” Go to your favorite search engine and conduct a search for“small business” and “market
If you were in Amilya Antonetti’s place starting SoapWorks, what marketing strategy would you use to compete with Procter & Gamble and Clorox? How would you reach your target markets?How and where would you advertise? We talk about the power of word-of-mouth among our customers—how do you use
One of the biggest challenges SoapWorks faced was getting its products on the shelves of grocery stores. By 1999 they were in 2,500 stores from California to Florida, and the company had revenues of $5 million. How would you create such market penetration?The bigger and stronger the competition is,
What do you think? Would it be completely nuts to say no? Should Cornice have chosen cell phones over the iPod?Kevin Magenis hung up the phone, looked out his office window into his company’s development lab, and thought about what he’d just heard. The callers were from Apple Computer, and they
Marketing objectives can be broken into two groups: marketing _____________ and _____________.
A type of marketing that is becoming more popular with small businesses, in which the business pays money to have its name associated with an event, is called _____________ .
The remorse that some buyers feel after making a major purchase is called _____________.
The faulty thinking of many small business owners regarding their target markets can be summarized as, “We don’t have specific target markets;we will sell to _____________ .”
Marketing research is valuable for fine-tuning products, but it is not so useful for _____________ products.
_____ 1. the business philosophy driven by determining customer wants and needs before products are produced
_____ 2. the orchestrated efforts containing what you intend to accomplish and how you intend to achieve those goals
_____ 3. the top line of a business
_____ 4. estimating how many products you may sell by adding up the daily, weekly, and monthly projections
_____ 5. treating entire populations as potential customers for specific products
_____ 6. customizing a product or service to appeal to a specific person
_____ 7. the group of brands that come to mind when a customer thinks of a product type
_____ 8. data that have been collected, tabulated, and distributed by an outside source
_____ 9. the most important and difficult step in the marketing research process
_____10. the marketing function that links consumer, customer, and public with marketersa. marketing conceptb. marketing strategyc. time series analysisd. secondary datae. primary dataf. data analysis g. decision making h. marketing research i. production concept j. marketing objectives k. mass
Define the term marketing mix.
Discuss the different forms a product can take, and identify the five levels of product satisfaction.
Explain the importance of purchasing and describe its procedures.
Discuss the main concerns in selecting a supplier.
Calculate how much inventory you need and when.
Describe seven methods of inventory control.
Was Six Apart ready to launch its own Social Networks ?You couldn’t blame Ben and Mena Trott for feeling satisfied, even a little smug. The couple’s San Francisco software company, Six Apart, had helped fuel one of the Internet’s hottest trends—blogging. And it had not one, but two hit
Select one of the companies described and write a short paper (no more than two pages) about the type of inventory control techniques that the business should use. Explain what would be an appropriate number of suppliers for this company and why you chose this number.Storybook characters like
Effective inventory management also means being ready to cope with problems. Divide into groups based on the companies you selected in Question 1, and discuss how you could design an inventory system that would adapt to “shocks”like the ones described below.Storybook characters like Madeline,
Arrange with your instructor for your class to visit a local business (preferably a larger retail store, but still a small business or some type of manufacturing business that uses multiple materials or components).Check out its inventory system. How are items brought in (physically and paper
Assume that you are the owner of the sporting goods store used in the example of EOQ inventory control on page 331. You typically sell 14,500 sweatshirts per year. Your ordering costs are $10 per order. Holding costs are $0.60 per sweatshirt per year. What is your EOQ for sweatshirts? How many
Consider the make-or-buy decision. Give three examples of situations in which a business should make, rather than buy. Give three examples of situations in which a business should buy, rather than make.
The last five seconds of marketing isa. advertisingb. inventory controlc. packagingd. closing
Fees charged by grocery retailers to ensure that products are placed on shelves are calleda. slotting feesb. royaltiesc. ransomd. popping fees
Which of the following was not cited as a criterion defining a product’s core competency?a. be applicable across a range of productsb. be difficult for competitors to duplicatec. provide a fundamental benefit to customersd. produce huge cash flow to the business
Producing products under another company’s name is calleda. licensingb. private-label manufacturingc. franchisingd. moonlighting
Jody runs a one-person business in which she hand-makes only three items. She keeps about two weeks’ worth of items in inventory at any given time. Which type of inventory control should Jody use?a. EOQb. visual controlc. EDId. MRP
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