What are the two important considerations in creating the mission and defining objectives for a small business? Explain how each gives a competitive edge to a small business.
What will be an ideal response?
The first important consideration for a small business is the business's external environment. It involves evaluating competitors, the market climate, and emerging technology. Other factors can be the clients, the economy, legal and political scenarios, and changing demographics. A proper evaluation of these factors helps the owner(s) of the business to understand and anticipate the change in market demand, economic downturns (or upswings), potential market base, etc. The second consideration is the business's internal resources, which include (1) human resources, comprising management and nonmanagement people; (2) physical resources, like buildings, tools and equipment, and service and distribution facilities; and (3) financial resources, such as cash flow, debt capacity, and equity to run the business. Through these considerations and sound evaluations, a small business can successfully align its mission, objectives, and resources with its environment and prove to be effective.
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Answer the following statements true (T) or false (F)
1. Socialization is part of a larger process known as assimilation. 2. Surveillance is a beneficial tactic that may be used to receive more accurate information. 3. Jargon is a type of slang that is not appropriate to use in professional contexts. 4. Issues such as religion and gender differences influence each of our worldviews. 5. Tensions in the workplace are complex and require more than simple mutual respect to avoid.
The study conducted by Chongxin Yu and Stephen J. Frenkel of the University of New South Wales suggested that managers should engage in supportive behaviors that encourage employees to feel connected to their peers and to anticipate the possibility of a successful career path in the organization in order to ______.
A. inspire more social behaviors in the workplace B. facilitate more top-down leadership in the workplace C. foster less autocratic leadership in the workplace D. facilitate more creativity in the workplace
Products such as very expensive wristwatches are distributed using _____ distribution.
A. exclusive B. patterned C. selective D. intentional E. intensive
All unwanted software programs designed to steal proprietary information or that target data stores containing confidential information best defines
A) viruses. B) target emails. C) spyware. D) cybersniffers.