Chapter 2 Business final notes
organization-based legitimacy
creating and displaying a company code of ethics
bootstrapping
using low-cost or free techniques to minimize your cost of doing business
LEED means
a building is environmentally friendly
mutuality means
action of each person helping another
which of the following statements about ethical dilemmas are correct
always making decisions that are ethically difficult, best choices is not clear, arent simply yes or no
which of the following are best practices of online social networking
ask others on network to link w them, be consistently involved, make it easy for people to contact owner
which of the following are one of the three forms of legitimacy that entrepreneurs can develope
based on people, based on product, based on organization
BATNA
best alternative to a negotiated agreement
who among the following are likely going to be considered part of the firms internal environment
board of directors, contracted professionals
in the context of low-cost and fast ways to monitor the business environment, which of the following is true of the Flipboard application?
can be used to create a free customized feed of news from all kinds of brand-name sources
which of the following are examples of the political-sector of the general environment
changes in political parties and players, new legal and policy initiatives, federally mandated laws/programs that affect businesses
the task environment is made up of those
components that a firm deals with directly such as customers, suppliers, consultants, media, internet groups
the entrepreneurial ecosystem consists of specific configuration of environment that reflects
components that are most central to developing a strong and active community of start-up business
the sociocultural sector of the general environment includes
cultures based on nationality, religion, subcultures that are based on groups formed around shared interests w large culture
which of the following statements about the costs of ethical failures are correct
customer defections, loss of reputation, lower moral often more damaging to business, level two costs include corrective actions and remedial education, managers tend to focus on gov fines and penalties
which statement regarding how to handle a crisis are correct
deal with it quickly, get there quickly, have one person as firms spokesperson
which of the following are approaches to managing a firm external relations
developing a social network, building legitimacy
which of the following are examples of the ecosystem/infrastructure sector of the general gov
forces like earthquakes, weather events, detroits water problems
the external environment consists of the
forces, institutions, and people outside of boundary of business
which of the following statements about legitimacy are correct
gaining it is top challenge new businesses face, building trust w customers/ other key groups is important, people who are seen as different often have difficulty w legitimacy
which of the following are among the three steps involved in making ethical decisions
generating alternatives that meet a businesses ethical, legal, economic goals, defining moral problem
which of the following are components of the entrepreneurial ecosystem
gov agencies, mentors, universities
internal environment consists of
people and groups within boundary of a firm, including owners, managers, employees, border members
ethics is a system of values that
people consider in determining whether actions are right/wrong
which of the following about ethics is correct
people make judgements about actions based on their personal ethics, system of values, consider ethics whether you make a good decision or not
in the context of crisis management, which of the following are gov recommended steps for preparing for disasters
plan to stay in business, protect businesses investment
utilitarianism is an ethical model that
supports seeking the greatest good for the greatest amount of people
which of the following about a crisis is true
survival of business is at stake, immediate action is needed, poses major problems for business and its people
the political-legal sector of the general environment reflects
the broad trends affecting law and gov
external relations is the general description of the processes and skills used in
the management of firms interactions w people, organizations, institutions outside its boundaries
organizational identity is composed of
the name, description, and distinctive elements of a firm. ex) trademarks, uniforms, logos, characters, stories
in Best Alternative to a Negotiated Agreement, the second best outcome is identified by
the parties in a mediation to help clarify the value of achieving a successful mediation
environment
the sum of all the forces outside the firms or entrepreneur
which of the following reflects the idea of universalism
what if everybody did what I want to do? what kind of world would it be?
the golden rule is an ethical model that
you should treat others how you want to be treated
engaging in which of these activities can help firms obtain ISO 14001 certificate?
minimizing use of paper
true or false: (BATNA) Best Alternative to a Negotiated Settlement is the second best outcome identified by the parties in a negotiation to help clarify the value of achieving a successful negotiation
true
social capitol consists of
trust, consistency, networks that represent potential social obligations that are assets of firm
which of the following statements about the 6 types of resources are true
studying competitors can help decide which resources your business will need, the acronym PROFIT stands for 6 profits needed, start-ups need some of all 6
trade magazines are
publications that target specific industries and professors
in the context of existing codes of ethics , which of the following are among the classes of ethical standards
dont do anything that will harm the organization, be good to customers
which of the following statements about the golden rule are correct
easiest way to think about ethical dilemmas, requires people to ask if they would like the same action towards them, many world religions have a version of it
which of the following are examples of a network connection
family/friends, business associations, religious and civic organizations
real option approach
thinking of entrepreneurial opportunities in terms similar to buying a stock option, putting small amount money down now to invest more later
which of the following is true of a firms internal environment
may include their customers in the internal environment as they consider their customers integral to firm
which of the following statements about the billboard principle are correct
name is from billboards found on road, causes one to think about consequences of everyone knowing what they did, publicizing ones deeds
the general environment is a part of the
external environment made up of sectors of major forces that shape the people and institutions of the task and internal gov
true or false: in the process of ethical decision making, firms are required to choose the most cost-effective alternative to meet their ethical, legal, and economic goals
false
organizational identity is composed of the
name, description, distinctive elements of firm (trademarks, uniforms, logos), part of BRIE model
in the context of developing a personal network, which of the following is the most powerful way to connect with others
face-to-face
universalism is an ethical model that suggests
there is a code of right and wrong that everyone can see and follow
which of the following statements regarding social networking are correct
help others build their social network, produce results from unexpected sources, online networking involves consistent involvement
legitimacy is the belief that a firm is worthy of
consideration or doing business with bc of impressions or opinions of customers, suppliers, investors, competitors
which of the following is said to be the most important source of legitimacy according to small business owners?
understanding the product
which of the following is the most sought after form of assistance by entrepreneurs from their social network
information or advice
Caveat emptor is Latin for
let the buyer beware
which of the following are resource types from the acronym PROFIT
relational, property, financial
the technological sector of the general environment consists of
innovation, invention, modernization that take place within the industry
networking is
interacting with others in order to build relationships useful to a business
which of the following about caveat emptor is not correct
it is a legal statement used to protect consumers
which of the following are true statements about the context of organizational culture?
its easier for small businesses to manage organizational culture, key element of firms organizational identity
which of the statements about sustainable entrepreneurship are correct
maximizes use of recycled material, improves environment, or both, exploits opportunities making profit in manner the minimizes depletion of natural resources, half of small businesses recycle paper and cans
the ecosystem/infrastructure sector of the general environment reflects the physical world in which we live including
natural components like raw materials, weather, ecological forces and created components such as cities and roads
which of the following might be examples of green entrepreneurship
recycle trash, fuel efficient/electric cars, compact florescent/LED lights
which of the following are true of real options approach
reflects choice firms face to or not to something, involves establishing benchmarks to achieve and timetables for those achievements
which of the following are inexpensive ways to monitor a firms external environment
regularly read trade and professional magazines, keep notebook on things that bother you, speak to customers, suppliers, professionals like accountants
a business --- capitol include--- that represent potential social obligations that are assets of the firm or entrepreneur
social, trust, consistency, and networks
billboard principle is an ethical model that asks whether
someone would be comfortable having their decisions and name advertised for all to see
which of the following is true of a Leadership in Energy and Environmental Design cerification
standard from the US Green Building Council, new source of sales and profits for construction companies
which of the following statements about utilitarianism are correct
strong community focus, focus on communities best interest in future, about actions resulting in the greatest good for greater good
the economic sector of the general environment includes
the trends and current conditions of the market for goods and services, the availability of equity, credit, employment