Obj 1.01 - 1.02 Review

Within a startup business or young company, the primary responsibility for acting ethically falls to

• a.  the entrepreneur.

• b.  business investors.

• c.  the business’s employees

• d.  the company’s customers.

Ethical behavior is crucial for entrepreneurial success because

• a.  investors only support unethical companies.

• b.  customers expect companies to act ethically.

• c.  the public generally distrusts entrepreneurs.

• d.  unethical behavior is usually more profitable.

Which of the following best describes corporate social responsibility

• a.  Running political ads to support candidates that are pro-business

• b.  Providing discounts on products for employees and their families

• c.  Giving back to the community through charitable efforts

• d.  Offering compensation for customers that are unsatisfied with products

An entrepreneur that acts ethically is less likely to     

• a.  attract quality employees.

• b.  make an impact in the community.

• c.  harm the environment.

• d.  satisfy his/her customers.

When an entrepreneur makes unethical product decisions, s/he is more likely to

• a.  harm customers through negligence.

• b.  gain dedicated, life-long customers.

• c.  attract potential business investors.

• d.  enhance future earnings potential.

Which of the following statements regarding ethical behavior in entrepreneurship is true:

• a.  Many customers are more willing to support companies that act ethically.

• b.  Making ethical decisions in entrepreneurship is easy and straightforward.

• c.  Ethical behavior by an entrepreneur has little impact on future earnings.

• d.  Ethical entrepreneurs are less likely to maintain positive relationships with suppliers.

“Cheating the system” in entrepreneurship often leads to

• a.  tremendous profits.

• b.  legal trouble.

• c.  legal immunity.

• d.  customer loyalty.

Which of the following discusses how a company is intended to work in the future:

       

• a.  Product promotion

• b.  Executive summary

• c.  Financial resource

• d.  Business plan

Since Brianna wants to sell a bank or investor on her company’s capabilities, she is motivated by the number one reason for writing a business plan, which is

• a.  the need for funding.

• b.  an approaching deadline.

• c.  an urgent request.

• d.  the desire for recognition.

In which section of the business plan would you find evidence of customer interest in a new product?

• a.  Market analysis

• b.  Product(s) offered

• c.  Strategy and implementation

• d.  Appendices