Exam 3: Small Business Environment: Managing External Relations

Thomas has started a new business venture for which he has been using highly economical resources,such as the market research data available in public libraries,low-interest funds borrowed from national banks,and equipments hired on lease.This technique used by Thomas to overcome resource constraints in his start-up firm is best known as _____.

A way to minimize the need for high-pressure ethical decision making situations in business is by:

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

What are the three general forms of legitimacy that small businesses can develop?

An ethical decision should reflect a decision-maker's real or presumed obligations to people and institutions in his or her firm and in its task environment.

Which of the following is the most appropriate approach to building organization-based legitimacy?

The goal of any small business owner is to manage external relations in order to minimize social capital.

Which of the following is typically a part of a firm's general environment?

Erion Inc.is an e-commerce company that sells its food products under the brand name Heal Meal.Its business partners have planned to enter into a strategic alliance with a well-reputed retailer in the Asian market in order to expand its operations to the Asian continent.Which of the following is a reason for the company having a lack of organization-based legitimacy in the Asian market?

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

In making moral decisions,it is possible to find oneself in the legal "right" but still unable to make a viable business decision by pursuing legal recourse.

What does the task environment of a firm consists of?

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

Interacting with others in order to build relationships useful to a business refers to _____.

The first step in LaRue Hosmer's model for ethical decision making is:

The owner of Elixir Force Inc.received the most prestigious corporate award and was also titled as "the most outstanding new entrepreneur of the year." In the context of people-based legitimacy,this is typically an indicator of:

Which of the following ethical philosophies do questions like,"What if everyone did what I want to do and what kind of world would that be" best summarize?

Which of the following statements is true about the task environment?

_____ means that a firm is worthy of consideration or doing business with because of the impressions or opinions of customers,suppliers,investors,or competitors.

_____ is best defined as the characteristics of a business,like trust,consistency,and networks that help make business operations smooth and efficient.