Exam 1: Foundations for Small Business

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The e-environment refers to the digital environment in which all companies compete.

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Some small businesses may stick with the very simple organizational structures because they are not interested in growing to the point where more complicated structures are required.

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In comparison to small-business owners entrepreneurs are much more interested in the ____________ of their business.

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Why should a small business consider integrating e-commerce?

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_____ refers to trying to receive customer payments as quickly as possible. a. Liquidity b. Enterprise resource planning c. Resource management d. Receivables management e. Debt collection

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The only definition of success for the small business owner and the entrepreneur is the generation of large profits.

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Why might some businesses stick with the very simple organizational structures?

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_____ are enduring beliefs that a given behavior or outcome is desirable or good.

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Which of the following is NOT true about developing an ethics policy?

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_____ are important because they provide structure and stabilization for society.

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What are some of the costs of unethical business behavior?

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For the period 1993 to 2008 small businesses were responsible for 65 percent of net new jobs.

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Ethics are the same as values.

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Do business ethics pay? Explain.

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An important element of the definition of success for small business owners is that they seek to be free and independent.

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Discuss the kinds of positive work experiences that employees have who work in companies with active ethics programs, observe leaders modeling ethical behavior, and see honesty, respect, and trust applied frequently in the workplace.

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Establishing an _____ is critical for creating an ethical work environment.

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Why is cash flow important?

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According to the text, what is one way of making a distinction between entrepreneurs and small business owners?

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In this stage of business growth the business becomes increasingly complex. The owner must decide how to grow rapidly and finance growth.

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