- - AGRICULTURE CORE CURRICULUM - - (CLF1000) Advanced Core Cluster: AGRICULTURAL BUSINESS MANAGEMENT (CLF1250) Unit Title: MANAGEMENT FUNCTIONS ______________________________________________________________________________ (CLF1299) Topic: UNIT EXAM Time Year(s) 1 Hour 3 /4 ______________________________________________________________________________ True/False (20 pts.) _____ 1. The functions of management are independent of each other. _____ 2. The piece rate was introduced by the organizational theorists. _____ 3. A manager's role in scientific management forces him/her to be equally responsible for the work with the worker. _____ 4. A manager should endeavor to have happy, satisfied employees, but not to the extent that achievement of organizational goals suffers. _____ 5. Frederick Taylor's scientific management theory took the position that standardization of tools and equipment was a key to productivity. _____ 6. Preferred stock holders have no voting rights. _____ 7. Transfer of ownership is easiest in a partnership. _____ 8. Abraham Maslow is known as the "Father of Management." _____ 9. Sub-Chapter S Corporations are limited to 35 owners. _____ 10. A limited partner has unlimited liability in the business. _____ 11. A limited partner has much management authority. _____ 12. A corporation can sue or be sued. _____ 13. Limited partnership organization may be a tool for estate planning. _____ 14. Supervisory managers generally plan corporate strategy of the company. _____ 15. The organization function of management consists of motivating employees for higher productivity. _____ 16. Setting objectives is an important part of the control function. _____ 17. Poor management is the major cause of business failures. _____ 18. One can be a successful manager and not be an effective leader. _____ 19. It is important for employees to understand their relationship to each other and to the business as a whole. _____ 20. Written plans are a waste of time and paper. Multiple Choice (10 pts.) 1. The management approach expounding the philosophy that if a worker is happy, productivity will follow naturally is the: a) 6M concept b) industrial engineering concept d) organizational concept e) functional concept 2. If an employee is involved in making plans that are long-range, complex, and broad in nature, he is probably a: a. top executive b. laborer c. supervisor d. food handler e. none of these 3 Limited partners can: a. contribute funds b. give free advice c. do only limited work d. both a and b e. all of the above 4. Most farm operations have this type of organization: a. partnership b. corporation c. individual or family proprietorship d. cooperative 5. Setting up the structure, determining the jobs to be done, and selecting, allocating, and training personnel is known as: a. planning b. organizing c. directing d. processing e. controlling 6. Formulating objectives, policies, and practices is known as: a. planning b. organizing c. motivating d. processing e. coordinating 7. An agribusiness manager's leadership abilities are most important to: a. planning b. organizing c. directing d. processing e. controlling 8. The single most important part of a partnership's success is: a. the trust and good terms of the partners b. a carefully drafted written agreement c. the savings of lower taxes d. there is no single part 9. of all forms of business oprganization, the single proprietorship is: a. the most secret b. the most flexible c. the easiest to start d. the simplest e. all of the above 10. Partnerships have: a. a limit of 6 partners b. no liability of individual partners c. less financial strength than single proprietorships d. none of the above e. all of the above Listing (45 pts. - 1 pt. each unless otherwise stated) 1. The three economically interdependent sectors of agribusiness are: a. b. c. 2. PODCC in management as a series of functions stands for: a. b. c. d. e. 3. What are some of the characteristics that distinguish agribusiness from other businesses? a. b. c. d. 4. List five characteristics of busineess management that lead to problems in personal management 1. 2. 3. 4. 5. 5. List 5 functions of management. 1. 2. 3. 4. 5. 6. List 5 characteristics of an effective agribusiness manager. 1. 2. 3. 4. 5. 7. List the steps in the 4-step method of problem solving for agribusiness managers. 1. 2. 3. 4. 8. List 5 factors influencing a manager or owner on the selection of the best business form for an agribusiness firm. 1. 2. 3. 4. 5. 9. List 3 advantages and disadvantages of a corporation, partnership, and proprietorship. (1/2 pt. each) Advantages Disadvantages Corporation 1. 1. 2. 2. 3. 3. Partnership 1. 1. 2. 2. 3. 3. Proprietorship 1. 1. 2. 2. 3. 3. Essay (25 pts.) Write a short essay on 5 of the 8 following topics (5 pts. each) 1. Distinguish between the input sector, the production sector, and the product sector in agribusiness. 2. Is any one concept of management particularly applicable to agribusiness. Why or why not? 3. Differentiate between strategic planning, tactical planning, and supervisory planning. 4. Explain the role and responsibilities of a manager through the PODCC functions. 5. In what ways are individual propietorships similar to partnerships and in what ways are they different? 6. Differentiate between a general and a limited partnership. 7. Differentiate between a general corporation and an S Corporation. 8. What are the specific levels of Maslow's hierarchy of human needs? 10/17/91 BF/sg #%&C