Question 1

Among the many __________ of any small business are owners, employees, and customers.

Accepted Answer

The answer of Among the many __________ of any small...

Question 2

Milton Friedman believed the only ________ ____________ of a business is to make a profit while operating within the rules of the game.

Accepted Answer

social res

Question 3

An ethical business not only treats customers and employees honestly, but also acts as a good citizen in the community. These broader obligations of citizenship are called

Accepted Answer

A)  community commitment. 
B)  philanthropy. 
C)  environmentalism. 
D)  social responsibilities. 
A)  community commitment. 
B)  philanthropy. 
C)  environmentalism. 
D)  social responsibilities.

Question 4

An example of an industry especially vulnerable to efforts to protect the environment is the _____ industry.

Accepted Answer

A)  glass manufacturing 
B)  military construction 
C)  restaurants 
D)  asbestos removal 
A)  glass manufacturing 
B)  military construction 
C)  restaurants 
D)  asbestos removal

Question 5

Environmentalism poses the greatest threat to small

Accepted Answer

A)  medical waste disposal businesses. 
B)  drugstores. 
C)  movie theaters. 
D)  auto repair shops. 
A)  medical waste disposal businesses. 
B)  drugstores. 
C)  movie theaters. 
D)  auto repair shops.

Question 6

When Evelyn hired a new sales manager, she issued a press release emphasizing the new hire's education and industry experience because:

Accepted Answer

A)  she wanted to introduce the sales manager to the community. 
B)  this was her first new hire and she wanted everyone to know her business was expanding. 
C)  She had stolen the sales manager from a competitor and wanted to gloat publicly. 
D)  she wanted to bolster the sales manager's credibility. 
A)  she wanted to introduce the sales manager to the community. 
B)  this was her first new hire and she wanted everyone to know her business was expanding. 
C)  She had stolen the sales manager from a competitor and wanted to gloat publicly. 
D)  she wanted to bolster the sales manager's credibility.

Question 7

A band who fails to record the cash they collected for admission to their shows could be charged with what illegal practice?

Accepted Answer

A)  cash diversion 
B)  tax evasion 
C)  skimming 
D)  payroll tax avoidance 
A)  cash diversion 
B)  tax evasion 
C)  skimming 
D)  payroll tax avoidance

Question 8

Itzakh uses a list of questions to help him decide among alternatives. These questions include:
1. Is it the ________?
2. Is it ______ to all concerned?
3. Will it build __________?
4. Will it be _________ to all concerned?

Accepted Answer

truth; fai

Question 9

Sales people are often asked to walk a fine line between _________ and ____________.

Accepted Answer

persuasion

Question 10

Waverly Corporation ensures the temperature of water released back into the river is the same temperature as water drawn from the river for its production needs. It does the same for its exhausted air. Its products are made with a minimal environmental impact and it has won many awards in its industry. Waverly Corporation is an example of a __________ ______ ________.

Accepted Answer

sustainabl

Question 11

Of all the concerns regarding Internet use, the greatest is:

Accepted Answer

A)  how users' personal information is being protected. 
B)  whether the content of a website is truthful. 
C)  how soon a Web customer will receive an order. 
D)  hacking. 
A)  how users' personal information is being protected. 
B)  whether the content of a website is truthful. 
C)  how soon a Web customer will receive an order. 
D)  hacking.

Question 12

The application of U.S. standards to ethical issues that are clouded by cultural differences abroad is sometimes categorized as _____.

Accepted Answer

A)  overly idealistic. 
B)  ethical imperialism. 
C)  USA arrogance. 
D)  situation ethics. 
A)  overly idealistic. 
B)  ethical imperialism. 
C)  USA arrogance. 
D)  situation ethics.

Question 13

A baker looking for new retail space has returned from a seminar on environmentalism and wishes to act responsibly in this area. Which action will best accomplish this purpose?

Accepted Answer

A)  Looking into leasing a LEED certified space 
B)  Reduce product prices 
C)  Eliminate undesirable processing odors 
D)  Increase service to customers 
A)  Looking into leasing a LEED certified space 
B)  Reduce product prices 
C)  Eliminate undesirable processing odors 
D)  Increase service to customers

Question 14

A firm's employees would be considered __________________ in the business.

Accepted Answer

A)  investors 
B)  stakeholders 
C)  customers 
D)  stockholders 
A)  investors 
B)  stakeholders 
C)  customers 
D)  stockholders

Question 15

The owner of LMN Company has been asked to sponsor a Little League team by donating money to buy team shirts. In return, the team will print the company name on the shirts. To which stakeholder group does this team belong?

Accepted Answer

A)  Owners 
B)  Customers 
C)  Employees 
D)  Community 
A)  Owners 
B)  Customers 
C)  Employees 
D)  Community

Question 16

A small computer retailer makes every effort to satisfy customer needs both before and after the sale. However, this retailer regards social problems as being beyond the scope of his business. This firm's management has recognized

Accepted Answer

A)  some degree of social responsibility in its commitment to customers. 
B)  the existence of social responsibilities but having failed to do anything about them. 
C)  ethical obligations to customers but not social responsibilities. 
D)  social responsibility as the domain of big business. 
A)  some degree of social responsibility in its commitment to customers. 
B)  the existence of social responsibilities but having failed to do anything about them. 
C)  ethical obligations to customers but not social responsibilities. 
D)  social responsibility as the domain of big business.

Question 17

U.S. Government assistance is available to lead the entrepreneur in compliance with environmental law through the

Accepted Answer

A)  Small Business Administration. 
B)  Department of Energy. 
C)  Department of Commerce. 
D)  Interior Department. 
A)  Small Business Administration. 
B)  Department of Energy. 
C)  Department of Commerce. 
D)  Interior Department.

Question 18

Entrepreneurs must reconcile their social obligations with _____.

Accepted Answer

A)  their family commitments. 
B)  their personal schedule. 
C)  the need to earn profits. 
D)  their religious beliefs. 
A)  their family commitments. 
B)  their personal schedule. 
C)  the need to earn profits. 
D)  their religious beliefs.

Question 19

Milton Friedman argues that businesses

Accepted Answer

A)  should avoid social responsibility whenever it is possible to do so. 
B)  should be required to use their resources meet their social responsibilities. 
C)  can only earn profits if they do so in a socially responsible manner. 
D)  are justified in being socially responsible only if doing so increases the firm's value. 
A)  should avoid social responsibility whenever it is possible to do so. 
B)  should be required to use their resources meet their social responsibilities. 
C)  can only earn profits if they do so in a socially responsible manner. 
D)  are justified in being socially responsible only if doing so increases the firm's value.

Question 20

Match the term with its definition.
-Individuals or groups who either can affect or are affected by the performance of the company

Accepted Answer

A) code of ethics 
B) environmentalism 
C) ethical imperialism 
D) ethical relativism 
E) integrity
F)intellectual property
G)social responsibilities
H)skimming
I)stakeholders
J)sustainable small business
K)underlying values 
A) code of ethics 
B) environmentalism 
C) ethical imperialism 
D) ethical relativism 
E) integrity
F)intellectual property
G)social responsibilities
H)skimming
I)stakeholders
J)sustainable small business
K)underlying values

Exam 2: Integrity and Ethics: Foundations for Success in Small Business

Among the many __________ of any small business are owners, employees, and customers.

Milton Friedman believed the only ________ ____________ of a business is to make a profit while operating within the rules of the game.

An ethical business not only treats customers and employees honestly, but also acts as a good citizen in the community. These broader obligations of citizenship are called

An example of an industry especially vulnerable to efforts to protect the environment is the _____ industry.

Environmentalism poses the greatest threat to small

When Evelyn hired a new sales manager, she issued a press release emphasizing the new hire's education and industry experience because:

A band who fails to record the cash they collected for admission to their shows could be charged with what illegal practice?

Itzakh uses a list of questions to help him decide among alternatives. These questions include: 1. Is it the ________? 2. Is it ______ to all concerned? 3. Will it build __________? 4. Will it be _________ to all concerned?

Sales people are often asked to walk a fine line between _________ and ____________.

Of all the concerns regarding Internet use, the greatest is:

The application of U.S. standards to ethical issues that are clouded by cultural differences abroad is sometimes categorized as _____.

A baker looking for new retail space has returned from a seminar on environmentalism and wishes to act responsibly in this area. Which action will best accomplish this purpose?

A firm's employees would be considered __________________ in the business.

The owner of LMN Company has been asked to sponsor a Little League team by donating money to buy team shirts. In return, the team will print the company name on the shirts. To which stakeholder group does this team belong?

A small computer retailer makes every effort to satisfy customer needs both before and after the sale. However, this retailer regards social problems as being beyond the scope of his business. This firm's management has recognized

U.S. Government assistance is available to lead the entrepreneur in compliance with environmental law through the

Entrepreneurs must reconcile their social obligations with _____.

Milton Friedman argues that businesses

Match the term with its definition. -Individuals or groups who either can affect or are affected by the performance of the company

The Entrepreneurial Life

Starting a Small Business

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Building Customer Relationships

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Business

Professional Management and the Small Business

Managing Human Resources

Managing Operations

Managing the Firms Assets

Managing Risk in the Small Business

A: Managing Risk in the Small Business

Filters

Milton Friedman believed the only ____ of a business is to make a profit while operating within the rules of the game.

Itzakh uses a list of questions to help him decide among alternatives. These questions include: 1. Is it the ? 2. Is it to all concerned? 3. Will it build ? 4. Will it be _ to all concerned?

Sales people are often asked to walk a fine line between _ and ____.