7 questions on Intro to business

BUS 1

Mini Exam – Chapters 05 – 10

40 Points

Short Answer – Mind your time

Answer four questions from #1 - #6. Must answer #3 and #6. Answer

the XC question for extra credit. Question point count weighted equally.

It is all about business, so make sure to demonstrate / synthesize the bigger picture of business in each and

every answer.

Like all essays, specifying an exacting target word count is rather problematic. I am thinking each answer

would be about 250 - 300 words each, depending upon writing style. If you tend to be descriptive and whatnot,

that number could be 350 - 450 words.

Sidebar: Gauge your knowledge level in this way. This exam should take about 90 – 120 minutes to complete.

Students taking much longer may want to work with me to assess / discuss ways to help master this material in

a future conference session.

1. Although most new firms start out as sole proprietorships, few large firms are organized this way. Why is the sole proprietorship such a popular form of ownership for new firms? What features of the sole

proprietorship make it unattractive to growing firms?

2. List and discuss at least three causes of small business failure. Workarounds, fixes, or methods to avoid failure should be discussed.

3. Describe three different leadership styles and give an example of a situation in which each style could be most used effectively.

4. Discuss Max Weber's views on organization theory. Is there a few principles that particularly resonate in business today?

5. How has the emphasis of quality control changed in recent years? Describe some of the modern quality control techniques that illustrate this change in emphasis.

6. Explain how managers could motivate employees by using the principles outlined in expectancy theory? Create a story/example of expectancy theory at work, incorporating the three questions that

according to expectancy theory employees will ask.

7. XC – What is selective perception? Can you describe a business-centric scenario where selective perception may hinder a businessperson’s ability to respond to a customer need?