BUS 201 Final

Porter makes this claim: "ONLY businesses can create wealth!

true

When rolling out a sustainability marketing campaign, if a business focuses too much on the pure-green or green-status attributes of their products without considering important value drivers that increase the attractiveness of their offerings, a company has fallen into which trap?

green marketing myopia

Bnax Ltd., a cosmetics manufacturing company, has little or no recycling practices and produces cosmetics made of hazardous chemicals. However, Bnax Ltd. claims its products are eco-friendly and the packaging of the product have images of nature on it. Which of the following is Bnax Ltd. practicing?

greenwashing

When Adam Grant interviewed people and asked them "what are the drivers to success?" which three answers were consistently given?

hard work, talent, and luck

According to class today, there is only one area that prf Dean has utter complete control over. Which is it?

himself

Sustainable marketers can market their products effectively by:

incorporating sustainability at the core of their business.

Mark, any and all, of the below which do NOT belong to the 5 Opportunities for Sustainable Marketing

none of the above. They all belong in the 5 opportunities for sustainable marketing

According to the book, __________ is the process of removing the impact of factors that may influence direct comparison of SPIs. For example, weather impacts the energy use of a building and varies from year to year.

normalization

In the Forbes article (Links to an external site.)Links to an external site. referenced in Module 7, which of the following is NOT one of the 3 "appeals" you can make when trying to influence someone:

nuanced

What is the timeline for implementing change according to the ADKAR model?

pre-contemplation--> contemplation --> preparation --> action --> maintance

Hershey's decides to start using a compostable material in which to wrap their chocolate. Unfortunately, this material begins breaking down once it comes in contact with cocoa butters and then bonds to the chocolate, rendering it inedible. Further, this was not discovered until after the nationwide roll out of this new product, costing the company millions in dollars and tremendous loss of customer good will. The product development team was summarily fired for not considering which source of corporate risk?

product

Which of the following approaches is characterized by voluntary transparency that far exceeds the degree of transparency which is required by law or regulation?

radical transparency

As companies move more and more towards a full triple bottom line, one of the difficulties is that there isn't common language for communicating and assessing this full bottom line. GAAP communicates this for the "Profit" bottom line. Which of the following are some emerging examples that are making strides towards providing this "common language"?

All of the above

What are examples of ecosystem services?

All the above

Sustainability reporting is business activity with what main goals?

Both A & B

According to Adam Grant's "Give and Take" which of the following is true?

Both A and B

According the Milton Friedman video snippet we watched, which of the below has been the most effective means to lift people out of poverty?

Capitalism

The "Limits to Growth" concept states that in order to not exceed the earth's carrying capacity, collapse could be avoided by:

Change of policies, behavior, and technology

The "No Limits to Growth" concept states that in order to not exceed the earth's carrying capacity, collapse could be avoided by:

Economic law of supply and demand and the cornucopia theory

Which of the following refers to a business philosophy where a business does "well" (is successful financially) by doing "good" (helping others and the environment)?

Enlightened Self-Interest

Which of the following are true?

Entrepreneurship is a mind-set, entrepreneurs run the risk of burnout Are relevant for-profit, NGOs, and even government Entrepreneurs who are employees are known as intrapreneurs

Read this carefully: In 1987 after 900 days of research and work, Norwegian Prime Minister Gro Harlem Brundtland developed what has become the touchstone definition for Environmental Sustainability. It states that: "Allowing future generations to meet their needs by compromising the current generation's ability to meet their own needs." True or False?

False

Over time, the word "sustainability" has morphed from being only about the long term financial viability of a company to now include components of social and environmental concerns.

True

The Cornucopia Theory states that there is only ONE scarcity...what is it?

Human brain power...which is the ultimate resource

Which of the following is true of pursuing sustainability?

Increases retention of employees who care about the environment.

Applying the principles of entrepreneurship within an existing company is called:

Intrapreneurship

According to the material, what are the various ways to deal with risk? Click all that apply.

It's inevitable so make financial allowances for it. Mitigate it take out insurance

Below are "3 P's". Match them to the correct word.

People, Planet, Profit

Which of the following is NOT part of the IPAT equation?

Planet

In class we discussed the IPAT formula...which two inputs are generally seen as "the problem" to Impact? Choose the correct two below.

Population and Affluence

What market barriers must be considered by the marketing professional when developing a marketing strategy? Tick each that was referenced in your book:

Price, Performance, and behavioral change

According to your book, an opportunity becomes a true business opportunity when:

Revenues are enough to cover costs and provide profit

What are the "4 S's" to consider when crafting a Sustainable Marketing Message?

Specific, sincere, subtle, smart

Which of the following involves owners, employees and customers, identifying what is in their collective interest? And, which author person is best known for this theory? Choose the two answers which are correct.

Stakeholder engagement and R. Edward Freeman

_____ builds on the basics of entrepreneurship and extends it to encompass addressing ecological and social concerns through the creation of new enterprises and innovation in existing enterprises.

Sustainability Entrepreneurship

Match the marketing opportunity to the correct description.

The Pure Green Play --> market sustainability. Green status --> customer affiliation. Functional Value Prop--> shows functionality. Commercial/Industrial Markets --> marketing green. The Holistic Brand --> a subtle approach

According to Porter, When a firm sustains profits that exceed the average for its industry, the firm is said to possess a _______________ over its rivals?

competitive advantage

The contribution that a company makes to society through its core business activities, its social investment and philanthropy programs, and, its engagement in public policy is known as what?

corporate citizenship

Last week we talked about how Sustainability can help companies be competitive. According to Porter, businesses compete with what two advantages?

cost and diiferentiation

According to our Chapter this week, green consumers who purchase only sustainable products are called _____.

super greens

As Adam Grant has thought more in depth about what most people think are the key drivers to success (hard work, talent, luck), he noticed that it did not include a key component, namely, addressing what are the motives people have in the interactions with each other. He termed these, "reciprocity styles". What are the three reciprocity styles?

takers, givers, matchers

According to Pink, thanks to the internet, everyone one of us is now in sales.

true

According to material covered in this week's class, Sustainable Marketing builds on the foundation of traditional marketing, however, it shows how goods (or services) are differentiated since they have less of an environmental impact.

true

What do each of the letters stand for in the ADKAR model for managing change?

Awareness, desire, knowledge, action, reinforcement

Which of the following meets comprehensive and transparent social and environmental performance standards and higher legal accountability standards?

B Corps

What are some motivators for social entrepreneurs?

All of the above

Pink says the ABC's of selling have change. It used to mean, "Always Be Closing". Pink's ABC's are now:

Attunement, buoyancy, clarity

Pink states that the "Elevator Pitch" has now been replaced with 6 successors. Which are they...tick each of the below that are listed in the reading:

twitter, pixar, one word, question, rhyming, subject line

Which of the following are what Dean talked about in class as divergent leadership tools to have your leadership toolbox? Click all that apply

Leadership is influence, selling, and giving

The most important consideration for successful sustainability entrepreneurs is to make sure the new way of doing things:

Provides value to potential customers.

Which of the following accurately defines a symbiotic relationship?

Symbiotic relationship refers to organizations interacting in a positive way with its environment, contributing to sustainability.

In the video from Class, Porter observes that while non-profits, NGO's, Government, and philanthropy have ameliorated some "societal problems", they have only had an incremental impact. What explanation does he proffer for this lack of creating profound change?

The above agencies do not have the ability to scale

Which of the following are part of the "Tragedy of the Commons" (TotC) concept? Click all that are true:

TotC occurs when different parties share a common good. TotC occurs when different parties act independently in their own self-interests. A basic premise of TotC is that the carrying capacity will be exceeded.

The following terms are tools that companies can use to increase their effectiveness. Match the correct term to the correct definition.

Transparency --> openness. Accountability--> acknowledgement. Sustainability data--> quantitative info. Metrics --> a set of measurements. Corporate governance --> set of processes

A car manufacturing company decides to hire new workers to increase production. This company decides to use new technology to produce cars with low carbon emission to protect the environment, recycle scrap material, and use proper disposals systems for waste. This policy will help generate profits by increasing production and also fulfill the company's social responsibility to people and the planet by generating employment, manufacturing eco-friendly cars, and reducing the risks of harming the environment. Which of the following is the company practicing?

Triple bottom line

Social entrepreneurship embraces innovation, revenue-generating business models, and, enterprise skills to solve local and global challenges.

True

The learning curve on sustainable business practice can be long and hard and it often entails significant risks and uncertainty.

True

According the Edward Freeman snippet we watched, what "really makes Capitalism tick..."?

When entrepreneurs, managers, and business leaders Companies engage with a set of their stakeholders to align and advance their mutual interests

Suppose Big Al's Burgers has decided to open another burger joint in Loveland, CO. Some of the first things they start to consider are financial ones, such as: the cost of tenant finish (Links to an external site.)Links to an external site. of a new location; how much it will cost to put in kitchen equipment (like a hood vent); and the potential ROI of this expansion. This is an example of which budgeting process?

capital

The goal of which phase in the "Sustainability Reporting Cycle" is to convert raw data into useful performance information and knowledge so that organizations can make informed decisions?

evaluate

According to the book, _____________ offers consumers a powerful way to reduce poverty through their everyday shopping.

fair trade

Capital Budgeting plans for the day to day operations of a company and will include line items like payroll, rent, utilities (such as electricity, gas and water), office supplies, insurance, raw materials, etc.

false

Once Strategic Planning has been completed, there really is no need in reviewing periodically.

false

Operational Budgeting deals with the large, long term investments, such as property, equipment, technology, buildings, construction projects, acquisitions, major expansions, etc.

false

When offering a sustainable/green product to the mass market, companies should expect the consumer to be willing to make big trade-offs in the products effectiveness compared to traditional products.

false

Which reciprocity style was the most likely to be at the top, to be the most successful?

givers

Which reciprocity style was the most likely to sink to the bottom, to be the least successful?

givers

The overarching theme in this week's class is that if Sustainable Business is to become a viable and trusted force, metrics must be set in place, much like GAAP. There is a growing bevy of tools that will towards a "GASP" (Generally Accepted Sustainability Practices). Prf Dean believes that the relatively new legal entity Benefit Corporation has a very good chance to facilitate this. What SPI's does the BLabs certification process assess? Click all of the below that are true.

social performance environmental performance public transparency legal accountability use the power of markets to solve social and environmental problems

Traditional Marketing utilizes the "4 P's" of Marketing (Product, Place, Promotion, & Price). Last week we talked about a different prism through which to view Sustainable Marketing, namely, the "4 S's". What are they?

specific, sincere, smart, subtle

When Dean, Nate, and Nancy first started thinking about launching a cheese shop in Fort Collins, we took a good period of time to think through the goals that we wanted to accomplish with this small business. We also set in place touchstones (Links to an external site.)Links to an external site. (click that if you're not familiar w/ this analogy) by which we would consider major decisions regarding our business model. In short we took time to try and envision, and subsequently plan, what we wanted our business to look like in 5 years. According to class this week, what activity were we engaged in?

strategic planning

______ involves developing and promoting products and services that meet consumer and business user needs utilizing society's natural, human and cultural resources responsibly to ensure a better quality of life now and for future generations to come.

sustainability marketing

The collection, analysis, and communication of social, economic, and ecological performance indicators by an organization is defined as_____.

sustainability reporting

In sustainability reporting, a KPI is referred to as an SPI. What does "SPI" stand for?

sustainable performance indicator

Becoming a "B Corporation" is an example of a Certification that a firm can voluntarily apply for, submitting to a rigorous 3rd party evaluation matrix to determine if it is using business and the power of markets to solve social and environmental problems.

true

Eco-labels provide an indicator of the sustainability of a product or service to the customer.

true

Greenwashing practices have a potential to inflict long-term damage to a brand.

true

In Give and Take, Adam Grant's premise is that while Givers lose in the short term, over a longer period of time Givers can become great successes as well.

true

Legal and regulatory requirements set forth by the government can be drivers for businesses to pursue broader sustainability efforts.

true

When considering the Life Cycle Analysis of a cheeseburger, There are economic, social, and environmental impacts associated with the harvesting of the wheat, vegetables, and beef required as inputs to the burger. Also, other impacts to be considered would be those associated with the napkins, packaging, condiments, and other supplies. Further, there are also impacts associated with the transportation of these inputs to the restaurant.

true