Management 350 Chapter 3

What is the most sought after form of assistance by entrepreneurs from their social network?

information or advise

_____________ is a certification awarded to businesses for creating an environmental management system that meets the requirement of the International Standards Organization.

ISO 14001

_____________ certified means that a building is environmentally friendly.

LEED

T or F: 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

T or F: Trade magazines are an important source for information concerning industry trends and other external environmental factors.

True

_______________ is an ethical model that asks whether someone would be comfortable having his or her decisions and name advertised for all to see.

billboard principle

Using low-cost or free techniques to minimize one's cost of doing business is known as _____________.

bootstrapping

__________________ is a Latin expression meaning let the buyer beware.

caveat emptor

The ________ sector of the general environment includes the trends and current conditions of the overall market for goods and services, the availability of equity and credit, and employment.

economic

The sum of all the forces outside the firm or entrepreneur is known as the ____________.

environment

A ___________ dilemma is a situation that occurs when a person's values are in conflict, making it unclear whether a particular decision is the right thing to do.

ethical

_________ is a system of values that people consider in determining whether actions are right or wrong.

ethics

_________________ consists of the forces, institutions, and people (the rest of the world) outside the boundary of a firm.

external environment

______________________ consists of people and groups within the boundary of a firm, including the owners, managers, employees, and board members of the firm.

internal environment

The general environment is part of the external environment and

is made up of sectors of major forces that shape the people and institutions of the task and internal environments.

_______________ is the action of each person helping another.

mutuality

____________interacting with other in order to build relationships useful to a business.

networking

____________ is part of the BRIE model; composed of the name, description, and distinctive elements of a firm, such as trademarks, uniform, logos, characters, and stories.

organizational identity

What are the three recommended steps for preparing for disasters?

plan to stay in business, make sure to talk to employees, protect the business' investment

What does the acronym profit stand for?

property/physical, relational, organizational, financial, intellectual, technological

A business' ____________ capital include trust, consistency, and networks that represent potential social obligations that are assets of the firm of entrepreneur

social

________________ is the entrepreneur's set of relationships and contacts with individuals and institutions.

social network

The ____________ sector of the general environment includes cultures often based on factors such as nationality or religion, and subcultures that are based on groups formed around shared interests within a larger culture.

sociocultural

___________________ is made up of those components that a firm deals with directly such as customers, suppliers, consultants, media, and interest groups.

task environment

The __________ sector of the general environment includes innovation, invention, and modernization.

technological

______________- is an ethical model that suggests that there is a code of right and wrong that everyone can see and follow.

universalism