Deck 7: The Business Plan

Question 1

Characteristics of an integrity strategy for ethics management include all the following except:

A) stable responsible conduct
B) self-governance according to chosen standards
C) auditing and control
D) accepting the guidance of others (lawyers, HR, etc.)
E) All of the answers are characteristics

Answer 1

E

Question 2

When doing business abroad, entrepreneurs must insist that their clients behave like them.

Answer 2

False

Question 3

Through the decisions made or not made by an individual becomes more aware of his or her own value system.

Answer 3

True

Question 4

Business ethics:

A) is relatively stable, it doesn't change quickly
B) has improved over time
C) has gotten worse over time
D) has evolved and continues to change over time
E) All of the above are correct

Question 5

A central question in an ethics concerns the extent to which a noble end justifies ignorable means.

Question 6

For entrepreneurs, situations where one law conflicts directly with another are infrequent.

Question 7

Different reactions to what is ethical may explain why some aspects of venture creation go wrong.

Question 8

The word entrepreneur is universally recognized as a favourable moniker.

Question 9

To cope with inevitable ethical conflicts, an entrepreneur should develop an awareness of:

A) his or her own explicit and implicit ethical beliefs
B) explicit and implicit ethical beliefs of his or her team
C) explicit and implicit ethical beliefs of his or her investors
D) explicit and implicit ethical beliefs within the milieu with which the venture operates
E) All of the answers are correct

Question 10

Which of the following push entrepreneurs to behave ethically?

A) financial pressures
B) short-term tactics
C) competition
D) Mothers
E) E) None of the answers are correct

Question 11

Technology (Internet, smart phones, Facebook, Google, software, etc.) has made it:

A) easier to cheat
B) easier to catch cheating
C) both easier to cheat and easier to catch cheating
D) technology hasn't really influenced ethical behaviour or the policing of it
E) Cheaters never prosper, even with technology

Question 12

Research has shown that personal values of entrepreneurs are ________ related to the economic performance of their ventures.

A) positively
B) negatively
C) not
D) equivocally
E) inversely

Question 13

The decision as to whether violating the letter of the law is not a violation of the spirit of the law is made by a judge.

Question 14

Someone who is doing something illegal and immoral can still be labelled an "entrepreneur."

Question 15

The legitimate entrepreneur adds value to society while the illegitimate entrepreneur extracts value from society with immoral-often illegal-behaviour. Interestingly:

A) both entrepreneurs will utilize similar skill sets
B) the illegitimate entrepreneur will be more profitable in the long run
C) they profit equally over both in the short and long run
D) Legitimate entrepreneurs are the exception
E) None of the answers are correct

Question 16

Canadian labour laws mandate special treatment of all of the following except:

A) Aboriginal peoples
B) members of visible minorities
C) persons with disabilities
D) immigrants
E) women

Question 17

When there are relationship troubles and conflicts of interest and roles. All of the following are likely except:

A) tension between perceived obligations and moral expectations
B) fewer employees shirking and fewer employees working unpaid overtime
C) changes in roles and relationships
D) elimination of a trust-based work environment
E) establishment of a controlled work environment

Question 18

The experienced venture capital investor seeks entrepreneurs with a reputation for what?

Question 19

Broken partnerships can often be traced to differences in personal ethics among the members of the venture team.

Question 20

Although most entrepreneurs believe it would be nice if ethics could be taught, most agree that ethics really cannot be taught.

Question 21

Name and describe the two types of enterprising nonprofits.

Question 22

Chapter 3 introduced the Timmons Model of the entrepreneurial process. How do the three major components of the Timmons Model apply to social entrepreneurship?

Question 23

Explain how social entrepreneurship helps to clarify the concept of value.

Question 24

What type of individual is the most common source of funding for new buildings, classrooms, athletic facilities, and endowed professorships at universities and colleges?