ENFB 4170 EXAM 2 QUESTIONS WITH VERIFIED
ANSWERS
Should you have more or less people when having a meeting? - Answers - Less people
(no more than 7-8)
If someone is late to a meeting, should you wait for them to start? - Answers - No, start
without them
Should you set a specific ending time for meetings? - Answers - Yes, and be sure to
end on time
When should you announce how decisions will be made during a meeting? - Answers -
Announce at the beginning
Which form of voting should you never choose during a meeting? - Answers -
Unanimous (it inhibits the minority from surfacing)
Which form of voting is Mr. Corman's favorite? - Answers - Dictatorship
Which decision is usually the worst decision? - Answers - Not making a decision at all
How do you handle mistakes? - Answers - 1) Admit the mistake as fast as possible
2) Fix it A.S.A.P
3) Learn from it
Is decision making an art or a science? - Answers - Science
What are the components of the Decision Matrix? - Answers - 1. Identify Alternatives
2. Identify Criteria for Evaluation
3. Weight the Criteria (10 or 20 rule)
4. Rate Each Alternative Against Each Criteria (1-10)
5. Multiply Weighting x Ranking
6. total each alternative
How does the Decision Matrix change with group decision making? - Answers - -
Everyone has the same weighting factor
- As a group—agree on the alternatives/agree on the criteria
- Each individual weights the criteria and then rates the alternatives against the criteria
Who creates the options pool? - Answers - stockholders
How large is the options pool usually? - Answers - 10%
, What percentage of companies that seek outside funding are sold 5 years later? -
Answers - 80%
Any sale, gift, bequeath, or transfer of stock is subject to this process: - Answers - 1.
Offer it back to the company 2. Or, offer the stock to existing stockholders 3. Sell to the
outside
If a stockholder is an employee, and he quits this job, when must the stock be sold? -
Answers - When his employment ceases
How is stock price established? - Answers - 1. Stockholder establishes the price to all
parties (Most Common)
2. Predetermined Price Voted On—Negotiated at least 2-4 times per year
3. Formula
When should the employee guidelines be presented? - Answers - During orientation
Who should review the employee guidelines? - Answers - A labor attorney
What should the employee guidelines explicitly contain? - Answers - A signature page
and state "That this is NOT a contract"
What 3 parts should the employee handbook contain? - Answers - 1. Introduction
(Corporate vision/culture, signature page, welcome letter)
2. Policies
3. Benefits
What 7 employee benefits must you include? - Answers - 1. Health Insurance
2. Defined Contribution (401K/Retirement)
3. Maternity Leave
4. Overtime
5. Minimum Wage
6. Unemployment
7. Workman's Comp
How should you deal with tasks that need to get done? - Answers - Prioritize, most
important first
Benefits make up __%of payroll - Answers - 43%
When should you delegate some tasks? - Answers - When some of the ones you can't
get around to consistently hurt the company
Should you interrupt your current task? - Answers - no
ANSWERS
Should you have more or less people when having a meeting? - Answers - Less people
(no more than 7-8)
If someone is late to a meeting, should you wait for them to start? - Answers - No, start
without them
Should you set a specific ending time for meetings? - Answers - Yes, and be sure to
end on time
When should you announce how decisions will be made during a meeting? - Answers -
Announce at the beginning
Which form of voting should you never choose during a meeting? - Answers -
Unanimous (it inhibits the minority from surfacing)
Which form of voting is Mr. Corman's favorite? - Answers - Dictatorship
Which decision is usually the worst decision? - Answers - Not making a decision at all
How do you handle mistakes? - Answers - 1) Admit the mistake as fast as possible
2) Fix it A.S.A.P
3) Learn from it
Is decision making an art or a science? - Answers - Science
What are the components of the Decision Matrix? - Answers - 1. Identify Alternatives
2. Identify Criteria for Evaluation
3. Weight the Criteria (10 or 20 rule)
4. Rate Each Alternative Against Each Criteria (1-10)
5. Multiply Weighting x Ranking
6. total each alternative
How does the Decision Matrix change with group decision making? - Answers - -
Everyone has the same weighting factor
- As a group—agree on the alternatives/agree on the criteria
- Each individual weights the criteria and then rates the alternatives against the criteria
Who creates the options pool? - Answers - stockholders
How large is the options pool usually? - Answers - 10%
, What percentage of companies that seek outside funding are sold 5 years later? -
Answers - 80%
Any sale, gift, bequeath, or transfer of stock is subject to this process: - Answers - 1.
Offer it back to the company 2. Or, offer the stock to existing stockholders 3. Sell to the
outside
If a stockholder is an employee, and he quits this job, when must the stock be sold? -
Answers - When his employment ceases
How is stock price established? - Answers - 1. Stockholder establishes the price to all
parties (Most Common)
2. Predetermined Price Voted On—Negotiated at least 2-4 times per year
3. Formula
When should the employee guidelines be presented? - Answers - During orientation
Who should review the employee guidelines? - Answers - A labor attorney
What should the employee guidelines explicitly contain? - Answers - A signature page
and state "That this is NOT a contract"
What 3 parts should the employee handbook contain? - Answers - 1. Introduction
(Corporate vision/culture, signature page, welcome letter)
2. Policies
3. Benefits
What 7 employee benefits must you include? - Answers - 1. Health Insurance
2. Defined Contribution (401K/Retirement)
3. Maternity Leave
4. Overtime
5. Minimum Wage
6. Unemployment
7. Workman's Comp
How should you deal with tasks that need to get done? - Answers - Prioritize, most
important first
Benefits make up __%of payroll - Answers - 43%
When should you delegate some tasks? - Answers - When some of the ones you can't
get around to consistently hurt the company
Should you interrupt your current task? - Answers - no
