A Small Business Owner Needs to Remember That When It

question 90

Multiple Choice

A small business owner needs to remember that when it comes to employee involvement in the strategic planning process:

• A)involvement is a prerequisite for the achievement of total employee commitment.
• B)his/her employees look to him/her for leadership and do not want to be involved.
• C)the delegation of authority is not as important as communicating a clear vision.
• D)employees do not need to be involved in the strategic process but do need to be involved in the operational process.

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Definitions:

Treasury Bills

Short-term government securities with maturation periods of one year or less, considered a safe and liquid investment option.

Opportunity Costs

The cost of missing out on the next best alternative when making a decision.

Cash Balance

The amount of cash a company has available at any given time, including bank balances and cash on hand.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision. It represents the benefits that could have been received but were given up to take another course of action.