Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Business Development
Q:
If a student copies a favorite CD and gives it away to a friend to use, the student is engaged in the theft of _____ property.
a. collective
b. intangible
c. intellectual
d. real
Q:
Entrepreneurs must reconcile their social obligations with _____.
a. their family commitments.
b. their personal schedule.
c. the need to earn profits.
d. their religious beliefs.
Q:
Milton Friedman argues that businesses
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 firms value.
Q:
The most widely recommended principle for ethical behavior is to do what
a. is best for yourself.
b. will yield the most profits.
c. you would want others to do for you.
d. will reduce product prices.
Q:
A U.S. manager is upset with the companys overseas representative for paying a small access fee to a local customs official to ensure the expedited release of a customer order. The managers belief such payments are wrong reflects a sense of _____.
a. cultural insensitivity
b. ethical elitism
c. ethical imperialism
d. cultural integrity
Q:
A digital ID tag that is electronically sent to the customer's computer when other requested materials are downloaded from a Web site is known as
a. a cookie.
b. a saucer.
c. an inverted collector.
d. a contact signature.
Q:
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. Looking into leasing a LEED certified space
b. Reducing product prices
c. Eliminating undesirable processing odors
d. Increasing service to customers
Q:
While unethical practices do exist, it is good that the great majority of small firms strive to achieve the highest standards of ____ in their quest for profits.
a. integrity
b. relativism
c. synchronous behavior
d. congruity
Q:
Of all the concerns regarding Internet use, the greatest is:
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.
Q:
The term for when an employee steals money from a firm is
a. cheating.
b. fraud.
c. embezzlement.
d. promotion.
Q:
A band who fails to record the cash they collected for admission to their shows could be charged with what illegal practice?
a. cash diversion
b. tax evasion
c. skimming
d. payroll tax avoidance
Q:
Garner developed a code of ethics for his growing business because:
a. he wanted to define the ethical expectations for all his employees. b. he wanted to have a legal defense should any of his people violate the law.
c. he wanted to create an informal channel of communication for discussions about ethical issues. d. he wanted to give his suppliers a formal document dictating how they should behave.
Q:
Candace sells the muffins in her bakery at a higher price than the big-box grocery but she has a steady stream of customers willing to pay what she asks. Candace also supports local charities. What would likely happen if she lowered her prices and stopped her charitable contributions?
a. Nothing b. Customers would go elsewhere.
c. Business would increase. d. Income taxes would decrease.
Q:
Damon landed his first contract as an entrepreneur then submitted to the local newspaper a news release that gave the impression this was just one of a series of contracts and that business was booming. Damon has:
a. told a legitimacy lie. b. inflated his income.
c. evaded taxes. d. violated the law.
Q:
The ethical influence of a leader of a small business is
a. relatively minor.
b. overpowered by profit concerns of stockholders.
c. less important than the views of others within the firm.
d. more pronounced than that of a leader of a large corporation.
Q:
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
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.
Q:
If Floyd elects to monitor the personal email accounts of his employees at work, he should:
a. install screening software to avoid hiring another IT employee. b. first develop a carefully worded and legally sound policy and make sure all employees are aware of it.
c. consult an attorney before terminating an employee for viewing personal email at work. d. block access to all personal email servers from company computers.
Q:
An example of a small business that actually benefits from the growing interest in environmentalism would be
a. a fast-lube and oil change center.
b. a producer of ethanol from farm waste.
c. a self-service car wash.
d. an asbestos removal service.
Q:
Environmentalism poses the greatest threat to small
a. medical waste disposal businesses.
b. drugstores.
c. movie theaters.
d. auto repair shops.
Q:
Bernard praises his employees as often as he catches someone doing something right. He often hosts family get-togethers for his few employees. Bernard knows:
a. a little money spent on his people will be returned many times over in profits. b. happy employees make for satisfied customers.
c. this will lead to his employees being more engaged and productive. d. its a waste of time and money but he enjoys the camaraderie.
Q:
In a small business, the most important key to ethical performance is
a. a code of ethics.
b. the personal integrity of the founder or owner.
c. a training program based on the code of ethics.
d. the amount of legislation affecting the organization.
Q:
Clark, the owner of DEF LLC, bragged about hiding company income from the IRS but was surprised when he learned his sales manager was accepting kickbacks from customers. Clark should have remembered:
a. kickbacks are common in his industry. b. lapses in integrity can easily be passed down from superiors to subordinates.
c. his sales manager could alert the IRS and Clark could be prosecuted for tax evasion. d. bragging nearly always leads to trouble.
Q:
Entrepreneurs should think carefully about their community commitments because doing good may add to a small companys
a. bottom line.
b. financial burden.
c. payroll.
d. local profile.
Q:
Skimming is an unethical business practice involving
a. failure to report all income on tax returns.
b. employees taking cash from the cash register.
c. sales associates offering gifts and inducements to purchasers.
d. managers of competing firms agreeing to charge high prices.
Q:
The most important influence on ethics in a small business is
a. the accountant or bookkeeper who keeps honest financial records.
b. the salesperson who quotes a fair price to customers.
c. the founder or owner whose values are put into practice.
d. the existence of a written code of ethics. Will it be _________ to all concerned?
Q:
Floyd would like to be able to monitor his employees Internet activity because:
a. his customers cannot view his company website if his employees are surfing the Web. b. employees have to share Internet access and he wants to be fair to everyone.
c. such activity hinders workplace productivity. d. his data plan allows only 5 gigabytes of access every month and overage charges are expensive. Will it build __________ and better friendships?
Q:
The type of tax most likely to be a problem for entrepreneurs is:
a. federal income tax. b. employee payroll taxes.
c. state withholding tax. d. state sales tax. Is it ______ to all concerned?
Q:
To be classified as a social entrepreneurship, a business must have a triple bottom line.
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question. Is it the ________?
Q:
Discuss similarities and differences of entrepreneurs and small business owners.
Q:
Explain how a small business can be more innovative than a large firm.
Q:
Identify the six attitudes and behaviors entrepreneurs should avoid. For each, explain the likely result of engaging in that behavior or holding that attitude. Simply saying the business will likely fail is insufficient.
Q:
Define entrepreneurial opportunity. Using one of the three success stories in Section 1-2b, explain how the owners identified their opportunity.
Q:
Explain the difference between personal fulfillment and personal satisfaction as an entrepreneurial motivation.
Q:
Explain the advantages of a social entrepreneurship. Give an example of such a business.
Q:
Identify and explain the four fundamental reasons entrepreneurs own their own businesses.
Q:
Explain the nature of and differences among microbusinesses, attractive small firms, and high-potential ventures.
Q:
List and briefly explain the six categories of desirable and acquirable attitudes and behaviors found in Spinellis and Adams research on entrepreneurial characteristics.
Q:
Sabrina has figured out how to recycle clear plastic bottles into woven fabric and has launched a new business. Sabrina is:
a. an entrepreneurial team member. b. a social entrepreneur.
c. risk averse. d. a franchisee.
Q:
Malinda wants to start a restaurant in her city of about 50,000 people. There are already 325 restaurants in this city. Malindas reasons include that she is a good cook who enjoys working in the kitchen and she wants to involve her three children aged 9 to 15 in the venture. She has not decided what types of foods she will offer. If Malinda launches this business, do you think it will succeed? Why or why not? What advice would you give her?
Q:
Martina expected to build her direct sales business ot the point that she can quit her day job after six months. Five months later she barely has any customers. Martina:
a. has overestimated what she can do. b. knows her market well.
c. is a domineering manager. d. should take on a partner.
Q:
A personality that focuses on the business as a whole and providing results for the customer
Q:
Calvin knew his small local hardware could not compete on price with the big-box discounters so he began offering classes for new homeowners and found other ways to provide services the bigger stores dont. Calvins competitive edge is:
a. customer focus. b. quality performance.
c. innovation d. niche markets.
Q:
A small firm that provides minimal profits to its owner
Q:
A prospective entrepreneur is evaluating the suitability of his own characteristics for an entrepreneurial career. He realizes that he should be prepared to assume:
a. moderate risks. b. no risks--that is, he should plan to operate conservatively.
c. risks similar to those a gambler assumes in Las Vegas. d. psychological risks but not financial risks.
Q:
An entrepreneur who brings a new firm into existence
Q:
A significant number of entrepreneurs are motivated by
a. an easy life. b. financial rewards.
c. freedom from long hours. d. job security.
Q:
A person who becomes an entrepreneur as a result of some hardship
Q:
Oscar wants everything in his restaurant to be perfect so he points out every little mistake his servers make. He has high turnover among his staff. Why?
a. Oscar is a domineering manager b. Oscar is not a team player.
c. Oscar lacks risk tolerance. d. Oscar does not know his market.
Q:
A small firm that has great prospects for growth
Q:
Bill Gates and Steve Ballmer, founders of Microsoft, would be considered:
a. franchisors. b. franchisees.
c. an entrepreneurial team d. sole proprietors.
Q:
Entrepreneurial activity whose goal is to find innovative solutions to social needs, problems, and opportunities
Q:
Which of the following best fits the definition of a small business?
a. A manufacturer with 75 investors b. A hardware store franchise with 20 employees
c. A fast food franchise with locations in three states d. A campground with gross revenues of $4 million per year.
Q:
A small firm that provides substantial profits to its owner
Q:
Which of the following types of businesses makes up the largest sector of the US economy?
a. small business
b. microbusiness
c. lifestyle business
d. attractive small firm
Q:
A specific group of customers with an identifiable but narrow range of product or service interests
Q:
Tatiana was laid off from her manufacturing job and in desperation launched a business providing transportation services for the non-drivers in her community. We would classify Tatiana as:
a. a social entrepreneur. b. a creative entrepreneur.
c. a corporate refugee. d. a reluctant entrepreneur.
Q:
An economically attractive and timely opportunity that creates value for interested buyers or end users
Q:
Although Abner started the business by making his own product, his greater talent is planning for the future and arranging for growth. Abner has a(n)___________ personality.
a. technician b. manager
c. entrepreneur d. opportunistic
Q:
A personality that is pragmatic and likes order and planning operations
Q:
Francesca convinced her aunt to invest in her day spa in exchange for a percentage of the profits. Francesca is:
a. taking advantage of her aunt. b. capitalizing on an opportunity.
c. conserving her own resources. d. bootstrapping.
Q:
A person who becomes an entrepreneur to escape an undesirable job situation
Q:
Entrepreneurs are more likely than large corporations to capitalize on innovations because:
a. entrepreneurs have more time to be creative. b. larger corporations must satisfy stockholders and cannot take risks.
c. entrepreneurs are more likely to find grants for research. d. larger corporations may be too focused on existing products.
Q:
Doing more with less in terms of resources invested in a business
a. attractive small firm
b. corporate refugee
c. entrepreneur personality
d. entrepreneurial opportunity
e. founder
f. high-potential venture
g. manager personality
h. microbusiness
i. niche market
j. reluctant entrepreneur
k. social entrepreneurship
l. technician personality
Q:
Jasper is so convinced he will succeed he has mortgaged his home, maxed out his credit cards, and borrowed from his retirement savings to finance his business. Jasper is:
a. high in commitment. b. high in leadership.
c. high in creativity. d. high in risk tolerance.
Q:
A microbusiness that permits the owner to follow a desired pattern of living
Q:
By the time Jobs and Wozniak had moved out of the garage and into their first production facility, the business would have been labeled as a(n):
a. high-potential venture. b. attractive small firm.
c. microbusiness. d. lifestyle business.
Q:
A personality that focuses on an already developed technical skill, wants to be left alone to get the job done, and is primarily concerned about the present
Q:
A prospective entrepreneur wants to find a career doing what she enjoys most. She might be drawn to try an entrepreneurial venture
a. to enjoy satisfying work. b. for substantial long-term profits.
c. to have freedom from a managerial hierarchy. d. for a sense of self-esteem.
Q:
An entrepreneur whose power is limited by a contractual relationship with an organization
Q:
Flora built her business from two employees to over 2,000 during her 30 years in business. She was able to endow a scholarship fund to the community college and to leave her children a perpetual income. We call this her:
a. corporate responsibility. b. social mission.
c. good citizenship. d. entrepreneurial legacy.
Q:
A knowledgeable person who can offer guidance based on experience in a given field
Q:
Natalie enjoyed yarn crafts so she opened a yarn and craft store in her small town. Sales have been dismal; few people visit her store. What mistake did Natalie make?
a. She overestimated what she could do. b. She lacked an understanding of the market.
c. She hired mediocre people d. She failed to share ownership.
Q:
A business with growth potential that is small compared to large companies in an industry, has geographically localized operations, and is financed by only a few individuals
Q:
Small businesses that have great prospects for growth are called:
a. gorillas. b. antelopes.
c. jaguars. d. gazelles.
Q:
A person who relentlessly pursues an opportunity, in either a new or an existing business
Q:
Darlene was disappointed with mass-produced childrens clothing that fell apart after a couple washings so she and her few employees began making garments that would hold together until they were outgrown. Darlenes competitive edge is:
a. customer focus. b. quality performance.
c. niche markets. d. integrity and responsibility.
Q:
A change in how we fundamentally see a situation
Q:
Walter wanted to be able to make decisions about issues that directly affected his department but in his corporation, the managers made all the decisions. So Walter left the corporation and started his own firm. Walter was looking for:
a. personal fulfilllment. b. personal satisfaction.
c. independence. d. financial rewards.
Q:
Two or more people who work together as entrepreneurs on one endeavor
Q:
Xavier believed his labor was only making others rich while he struggled from paycheck to paycheck. He started his own small business and now labors only for himself. Xaviers motivation is:
a. personal fulfillment. b. personal satisfaction.
c. independence. d. financial rewards.