Quiz 1 redo

An Entrepreneur is defined as someone who

• operates and runs their own business

• works for someone else

Entrepreneurs who are Future Orientated are:

• Express career and/or business interests

• Seek out information about careers and their demands

• Set and pursue long-term goals and invest now and gain later

• Demonstrate tolerance with delayed gratification

• all of the above

Sustainable Economic Development is defined as:

• Turning a business opportunity into a business idea

• Turning a business idea into an opportunity

• Economic development that does not harm society or the environment. It ensures that human and natural resources are maintained for future generations.

• Meeting the planet’s current needs while preserving resources for future generations.

Entrepreneurs starting a new business should make sure that their product or service design is sustainable. Sustainable is defined as:

• Economic development that does not harm society or the environment. It ensures that human and natural resources are maintained for future generations.

• Business is standing on it's own.

• You do no need stake holders for your businss.

• Meeting the planet’s current needs while preserving resources for future generations.

When an Entrepreneur decides to operate a for-profit business - it indicates that:

• The stake holders get the profits.

• The company's sole purpose is to be of benefit to society.

A Benefit-corporations (b-corps) is defined as:

• A company that does not care about being sustainable.

• A Businesses that have met rigorous standards of social and environmental performance, accountability, and transparency, that they have not certified by the nonprofit B Lab.

• Businesses that have met rigorous standards of social and environmental performance, accountability, and transparency, that they have been certified by the nonprofit B Lab.

• None of the above

When creating a Business Plan - the Entrepreneur needs to include a Mission Statement:. The purpose of the Mission Statement is to:

• Hold the company sustainable.

• Describes why a company exists and guides a company’s organization, work, and actions.

• Make sure the employees practice TRUST.

• Let society know it is a non- profit company.

When a Business acts in ways that balance a business’s profits and growth with the good of society - it demonstrates:

• Corporate Social Responsibility

• Social Ethics

• Social Responsibility

• Trust

Please complete the sentence: A socially-responsible company can positively impact people, the community, and the environment;

• and make no profit..

• and still make a profit.

By connecting the mission statement and social responsibility, the company

• indicates it's primary interest is to make a profit.

• is true to its goal of solving both societal and business problems.

• is taking a risk of not being sustainable

• indicates its focus is to help society - no interest in financial gain.