Exam 3: Small Business Environment: Managing External Relations

Small businesses high in social capital are less trusted when problems occur.

Documentation and demonstration offered for products are product-based legitimacy indicators of _____.

As a firm establishes a track record for performance,that performance,along with the goods or services it creates become key elements of the firm's and entrepreneur's identity.

Which of the following business costs of ethical failures causes the least damage?

The questions on who will be hurt and how much,who will benefit and how much,what does the owner or the firm owe others,and what do others owe the owner and the firm are typically asked when:

_____ refers to a situation where a person's values are in conflict,making it unclear whether a particular decision is the right thing to do.

Following the BRIE model in starting a business,the entrepreneur creates a boundary within the environment,setting the firm apart from the rest of the environment.In doing this,the entrepreneur gives the firm an organizational identity.Define organizational identity and then elaborate on the components of the BRIE model and how they apply to a new entrepreneur.

Which of the following statements is true of legitimacy indicators?

Which ethical model typically advocates seeking the greatest good for the greatest number of people?

Explain in detail the steps that a small business owner should follow when faced with a crisis.

Mutuality is the set of relationships and contacts with individuals and institutions a company establishes.

Which of the following will cause the maximum damage to an organization's legitimacy?

Which of the following is an element of a firm's external environment?

Following the BRIE model in starting a business,an entrepreneur creates a boundary within the environment,setting his firm apart from the rest of the environment.In doing this,the entrepreneur gives the firm an _____.

By efficiently managing external relations,small businesses typically aim at creating _____.

Which of the following includes a three-step process that has been adopted to help small businesses make better and more ethical decisions?

LaRue Hosmer's model for making ethical decisions is focused more on small business than big ones.

Which of the following is not one of the five skills for managing relations with the environment?

After defining a moral problem,you need to generate a variety of alternatives,evaluate each and choose the best one.At this stage,compare the alternatives to several standards of your firm,industry,and community.Which of the following is NOT a standard of comparison stated in the text?

Small business owners should be scanning their environment looking for upcoming trends.Beyond trend-spotting,the other key scanning ability is to find the resources you need from the environment to build your business.The key to identifying resources comes from the acronym ________,which stands for the different types of resources.