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Mini-Quiz: Managing a Business Effectively

by Ron Kurtus (revised 20 November 2011)

Take this Mini-Quiz to check your understanding of the lesson material.

1. What are some functions of the owner of a one-person business?

Making long-run objectives, short-term decisions and then doing the work

Delegating as much as he can to workers

Organizing and then letting things run themselves

2. Why should a manager have technical skills on how a product is made?

Often, if someone is sick, the manager must go on the assembly line

The manager needs to be able to give intelligent decisions

It is only necessary if the manager does not have an MBA

3. What is the best way to manage a long-term project?

Set a long-term goal and try to finish as fast as possible

Set short-term goals to steadily complete the project

Extend the schedule as long as you can

If you got all three correct, you are on your way to becoming a Champion in Business. If you had problems, you had better look over the material again.

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