Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 15.2, Problem 1DQ
Why might it be a bad decision to hire someone for a key startup role based only on the fact that the person is close family or a friend? What are the potential tradeoffs to the business?
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
When it comes to starting a successful tech business, why is it so crucial that budding innovators have access to support from seasoned industry professionals?
If a business venture does not have a financial resources to pay employees very high salaries, are there other ways it could attract and retain the talent it needs to grow the business.
True or false?
Chapter 15 Solutions
Principles of Management
Ch. 15.1 - What is the definition of a team?Ch. 15.1 - Name some practices that can make a team more...Ch. 15.2 - Why might it be a bad decision to hire someone for...Ch. 15.2 - What does it mean for the three Rs to be in...Ch. 15.2 - What are the four stages of team development?Ch. 15.2 - What can cause a team to regress in its...Ch. 15.3 - Do you agree with the statement that what got you...Ch. 15.3 - Who would be on your stakeholder checklist? Which...Ch. 15.3 - Discuss the paradox(es) of a team.Ch. 15.3 - How can a leader manage team boundaries?
Ch. 15.4 - What are some techniques to make conflict more...Ch. 15.4 - What are some destructive responses to conflict?Ch. 15.5 - Why do diverse teams focus more on data than...Ch. 15.5 - How are diversity and innovation related?Ch. 15.6 - What are some multicultural experiences that youve...Ch. 15.6 - Has economic globalization helped people to bridge...Ch. 15.6 - What are some of the challenges of a multicultural...Ch. 15.6 - Explain the cultural intelligence techniques of...Ch. 15 - What are the key differences between a team and a...Ch. 15 - At what stage of team development does the team...Ch. 15 - What can cause a team to digress to an earlier...Ch. 15 - What can a team leader do to manage the teams...Ch. 15 - How does managing conflict help a team learn and...Ch. 15 - What are some strategies to make conflict more...Ch. 15 - Why are diverse teams better at decision-making...Ch. 15 - Why do diverse teams utilize data more often than...Ch. 15 - What are some of the challenges that multicultural...Ch. 15 - What are the key sources of cultural intelligence?Ch. 15 - If you dont have a diverse group of people on your...Ch. 15 - Evaluate your own team at work. Is it a diverse...
Additional Business Textbook Solutions
Find more solutions based on key concepts
E2-13 Identifying increases and decreases in accounts and normal balances
Learning Objective 2
Insert the mis...
Horngren's Accounting (12th Edition)
Define cost object and give three examples.
Cost Accounting (15th Edition)
E6-14 Using accounting vocabulary
Learning Objective 1, 2
Match the accounting terms with the corresponding d...
Horngren's Accounting (11th Edition)
Discussion Questions 1. What characteristics of the product or manufacturing process would lead a company to us...
Managerial Accounting (4th Edition)
Ravenna Candles recently purchased candleholders for resale in its shops. Which of the following costs would be...
Financial Accounting (12th Edition) (What's New in Accounting)
Journal entries, T-accounts, and source documents. Visual Company produces gadgets for the coveted small applia...
Horngren's Cost Accounting: A Managerial Emphasis (16th Edition)
Knowledge Booster
Similar questions
- Case: You are vice president of a small company that has been chartered by a group of about a dozen main investors. (It’s incorporated, but not publicly held.) The company does software development for other small businesses. Your boss, the president and CEO of the company, thinks that the company needs to expand and hire more software designers. (She thinks that there is a good opportunity to get qualified people since so many talented software engineers have been put out of work with the bursting of the “dot-com bubble.”) In addition, she thinks it would be a good idea to rent some more office space to house the new people, and to upgrade the company’s main computer system. These strike you as good ideas for growing the business, but there is one problem–the company has neither enough current profits or remaining investment capital to take on these new projects. Fortunately (well, maybe it is fortunate, maybe it is not), there is a meeting of the investors scheduled for next week.…arrow_forwardWrite a letter for applicant. Begin the letter with thanking the applicant for showing interest to join your organization. Then, highlight the rigorous criteria on the basis of which you faced a tough time selecting the most competitive candidate from a pool of diligent applicants. Lastly, end with a positive note motivating the applicant to reconsider your organization in the upcoming vacancies.arrow_forwardYou have recently graduated from your university course and start work with an audit firm. You meet an old school friend, Nayan, for dinner — you haven't seen each other for several years. Nayan is surprised that you are now working as an auditor because your childhood dream was to be a ballet dancer. Unfortunately, your knees were damaged in a fall, and you can no longer dance. The conversation turns to your work, and Nayan wants to know how you do your job. Nayan cannot understand why an audit is not a guarantee the company will succeed. Nayan also thinks that company managers will lie to you in order to protect themselves. As an auditor, you would have to assume that you cannot believe anything a company manager says to you.Required:(a) Write a letter to Nayan explaining the concept of reasonable assurance, and how reasonable assurance is determined. Explain why an auditor cannot offer absolute assurance (3 marks). (200 -250 words)(b) Explain in the letter to Nayan the concept of…arrow_forward
- Evidence suggests that the employees who already have the highest skill levels in an organization are the most likely to receive further training, while the lower-skilled employees most in need of training are less likely to receive it, either because those employees decline opportunities or because they are not selected to participate. Why might the situation described above happen? What criteria should be used to determine who is selected to participate in training programs? How can organizations encourage lower-skilled employees to take advantage of elective training opportunities?arrow_forwardWhat role best fits the following situation? Manny wants to be involved in a business but is not sure which type of business to join or create. He has capital to invest. He has a good network of potential investors and partners. He has no experience in management. Limited partner in a limited partnership. General partner in a limited partnership. Neither a limited or general partner would be a good choice.arrow_forwardHiring 1-IT manager 1 -Marketing manager 1- Security supervisor and 2- Operations managers develop a recruitment and selection plan for the chosen organization. In your plan: Analyze the role of the recruiter. What unique opportunities and challenges are present for the selected company? Outline a recruitment process to meet organizational objectives for the selected company. Include a step-by-step process for the selection of supervisors and managers. Include the best practices that support your recommended best recruitment plan. Consider the use of social media, types of employment tests, and how to conduct effective interviews, for example. Include additional information that make the positions more attractive. Explain an organization's legal considerations for recruitment and selection functions. Analyze how to measure success of the chosen selection method for the selected company. What specific metrics would you use for your selected company?arrow_forward
- In order for the company to be able to hire employees from a variety of backgrounds, what types of challenges does it need to conquer? Give a more in-depth explanation of the concept while also offering the necessary logic.arrow_forwardYou are in your last semester of college and have been looking for a job. You have registered with the placement office and posted your résumé online, but the jobs that are available leave a bit to be desired. In one of your classes you overhear a classmate, Bernardo, talking about an interview he had last week. Bernardo said that he really wanted the job but didn’t think his interview went particularly well. He is currently waiting to hear back from the employer. As Bernardo was describing the position, you thought it sounded very interesting, but you wondered if it would be right for you to pursue the position since Bernardo had found it first. Question: Should you apply for the job? Should you wait until Bernardo hears from the employer?arrow_forwardYour best friend is considering a career in sales. What are the benefits of a sales career that you would share?arrow_forward
- You began operating a small general electric contracting company two years ago. Originally, it was just you and your cousin, but it has grown to five licensed electricians, plus one office manager who takes calls from customers, schedules the work, and orders parts and supplies. Your company handles a wide range of work, including installing new circuit breaker panels, rewiring existing electrical systems for renovations and additions, and installing residential light fixtures, security lighting systems, swimming pool lighting, and ceiling fans.Business has really taken off, and your current manual systems and procedures can no longer keep pace. The office manager has been exploring several options and has identified three different software packages designed for small contractors. Each one of the packages includes software designed for managing parts and supplies inventory, scheduling jobs, and invoicing customers. Two of the software packages are from large, well-known companies, and…arrow_forwardImagine that the start-up company that you proposed to create for your assignment is very successful in twenty years and a large component of it becomes virtual. Outline the focus of your start-up company, its products and services, and its customers. Describe three factors that could make a significant part of the start-up company operations to become virtual. Describe two ways you would manage the virtual component of your business.arrow_forwardENTREPRENEURS FACE A MORE CERTAIN SET OF POSSIBILITIES RATHER THAN PEOPLE IN OTHER TRADITIONAL JOBS. Select one: a. False O b. Truearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Understanding Management (MindTap Course List)ManagementISBN:9781305502215Author:Richard L. Daft, Dorothy MarcicPublisher:Cengage Learning
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning