Question 1

An example of a small business that actually benefits from the growing interest in environmentalism would be
A) a fast-lube and oil change center.
B) a producer of ethanol from farm waste.
C) a self-service car wash.
D) an asbestos removal service.

Accepted Answer

A producer of ethanol from farm waste benefits from the growing interest in environmentalism because using agricultural waste as a feedstock for fuel instead of traditional fossil fuels reduces greenhouse gas emissions and promotes sustainable agriculture. Fast-lube and oil change centers, self-service car washes, and asbestos removal services may not necessarily benefit from the growing interest in environmentalism, unless they make efforts to use eco-friendly products and promote sustainable practices.

Question 2

When evaluating alternatives, the entrepreneur will select one that is truthful, beneficial to all parties, fair, and
A) exploitable.
B) publishable
C) profitable
D) repeatable.

Accepted Answer

The alternatives being evaluated should be profitable, as the success of a business ultimately relies on its ability to make a profit. Option A, exploitable, suggests taking advantage of others which is not ethical or sustainable in the long run. Option B, publishable, is not necessary to consider when evaluating alternatives. Option D, repeatable, is important for scalability and growth but is not directly tied to the ethical considerations of the decision. Therefore, the best choice is C, profitable.

Question 3

Tyrone gives 1% of the profits of his company to local organizations like the Little League and the Boys and Girls Club. In this way, Tyrone is fulfilling his _________ ______________.

Accepted Answer

The answer of Tyrone gives 1% of the profits of...

Question 4

PortionPac Chemical's dedication to its customers, employees, and the environment is an example of:
A) a sustainable small business.
B) ethical relativism.
C) social entrepreneurship.
D) ethical imperialism.

Accepted Answer

PortionPac Chemical's dedication to its customers, employees, and the environment indicates that it is a sustainable small business, which aims to operate in a way that meets the needs of the present generation without compromising the ability of future generations to meet their own needs. This includes a focus on ethical and environmentally-friendly practices. Ethical relativism, social entrepreneurship, and ethical imperialism do not accurately describe the company's dedication to sustainability.

Question 5

Sales people are often asked to walk a fine line between _________ and ____________.

Accepted Answer

The answer of Sales people are often asked to walk...

Question 6

U.S. Government assistance is available to lead the entrepreneur in compliance with environmental law through the
A) Small Business Administration.
B) Department of Energy.
C) Department of Commerce.
D) Interior Department.

Accepted Answer

The Small Business Administration provides resources and guidance for small businesses in complying with environmental regulations.

Question 7

Millicent, founder of a small company that markets baked goods made from organic ingredients, emphasis honesty in all transactions. In this respect, Millicent acts with ____________.

Accepted Answer

The answer of Millicent, founder of a small company that...

Question 8

Rhoda, the bookkeeper for a small company, has been diverting company funds into her personal bank account. Rhoda is engaging in ____________.

Accepted Answer

The answer of Rhoda, the bookkeeper for a small company,...

Question 9

The purpose of the Better Business Bureau is:
A) to provide an outlet for customer complaints about a business.
B) to promote ethical conduct on the part of all businesses in a region.
C) to report relevant information to law enforcement agencies.
D) to impose penalties on companies that engage in unethical business practices.

Accepted Answer

The purpose of the Better Business Bureau is to promote ethical conduct on the part of all businesses in a region. Although the BBB does accept and process customer complaints about businesses, its main focus is on encouraging businesses to operate in an ethical and responsible manner. The BBB does not have the authority to impose penalties on companies, nor does it report information to law enforcement agencies.

Question 10

The most widely recommended principle for ethical behavior is to do what
A) is best for yourself.
B) will yield the most profits.
C) you would want others to do for you.
D) will reduce product prices.

Accepted Answer

The principle of doing unto others as you would have them do unto you, also known as the Golden Rule, is a commonly accepted ethical guideline in most cultures and religions. It promotes treating others with compassion, empathy, and fairness, and avoiding actions that would cause harm or distress. This principle encourages individuals to think beyond their own self-interests and consider the needs and well-being of others, which can lead to more positive and constructive relationships and communities.

Question 11

In order to make an ethical decision, the key to problem definition is to
A) go with the obvious solution.
B) look at the surface of the problem.
C) find the most cost effective solution.
D) identify the root of the problem.

Accepted Answer

Identifying the root of the problem is crucial in making an ethical decision as it helps to understand the underlying causes and factors involved in the situation, allowing for a more informed and effective resolution that upholds ethical principles. Going with the obvious solution or looking at the surface of the problem may lead to a superficial or incomplete understanding of the situation, while focusing on cost effectiveness alone may compromise ethical considerations.

Question 12

Owners, customers, and employees are considered to be the _________ ____________ of a business.

Accepted Answer

The answer of Owners, customers, and employees are considered to...

Question 13

Among the many __________ of any small business are owners, employees, and customers.

Accepted Answer

The answer of Among the many __________ of any small...

Question 14

Suppliers, creditors, and the community are examples of ______________ of a business.

Accepted Answer

The answer of Suppliers, creditors, and the community are examples...

Question 15

In drawing up a code of ethics, a small business owner should adopt a code
A) provided by the Ethics Resource Center of Washington, D.C.
B) that outlines ethical principles and gives examples.
C) that outlines ethical principles but avoids examples.
D) suggested by the Better Business Bureau.

Accepted Answer

A code of ethics should not only outline ethical principles, but also provide examples to help employees understand how to apply these principles in specific situations. The Ethics Resource Center and Better Business Bureau may offer helpful guidance, but ultimately the small business owner should tailor the code to their specific company and values.

Question 16

A baker looking for new retail space has returned from a seminar on environmentalism and wishes to act responsibly in this area. Which action will best accomplish this purpose?
A) Looking into leasing a LEED certified space
B) Reduce product prices
C) Eliminate undesirable processing odors
D) Increase service to customers

Accepted Answer

LEED (Leadership in Energy and Environmental Design) certification is a third-party verification that a building was designed and built with environmentally responsible practices. By leasing a LEED certified space, the baker can ensure that the space meets certain environmental standards and limit their impact on the environment. Reducing product prices, eliminating processing odors, and increasing service to customers may have some positive impact on the environment, but they do not directly address environmental responsibility.

Question 17

Environmentalism poses the greatest threat to small
A) medical waste disposal businesses.
B) drugstores.
C) movie theaters.
D) auto repair shops.

Accepted Answer

The answer of Environmentalism poses the greatest threat to small
A)...

Question 18

Malcolm is careful to share with his employees information about customer orders, financial performance, and quality concerns. Malcolm is exercising _________ __________.

Accepted Answer

The answer of Malcolm is careful to share with his...

Question 19

An example of an industry especially vulnerable to efforts to protect the environment is the _____ industry.
A) glass manufacturing
B) military construction
C) restaurants
D) asbestos removal

Accepted Answer

Asbestos removal is an industry particularly vulnerable to efforts to protect the environment because asbestos is a hazardous material that can cause serious health issues if not properly removed and disposed of. Effective removal and disposal methods can be costly and time-consuming, making it challenging for companies in this industry to adapt to changing environmental regulations.

Question 20

Milton Friedman believed the only ________ ____________ of a business is to make a profit while operating within the rules of the game.

Accepted Answer

The answer of Milton Friedman believed the only ________ ____________...

Quiz 2: Integrity and Ethics: Foundations for Success in Small Business

An example of a small business that actually benefits from the growing interest in environmentalism would be

When evaluating alternatives, the entrepreneur will select one that is truthful, beneficial to all parties, fair, and

Tyrone gives 1% of the profits of his company to local organizations like the Little League and the Boys and Girls Club. In this way, Tyrone is fulfilling his _ ______.

PortionPac Chemical's dedication to its customers, employees, and the environment is an example of:

Sales people are often asked to walk a fine line between _ and ____.

U.S. Government assistance is available to lead the entrepreneur in compliance with environmental law through the

Millicent, founder of a small company that markets baked goods made from organic ingredients, emphasis honesty in all transactions. In this respect, Millicent acts with ____________.

Rhoda, the bookkeeper for a small company, has been diverting company funds into her personal bank account. Rhoda is engaging in ____________.

The purpose of the Better Business Bureau is:

The most widely recommended principle for ethical behavior is to do what

In order to make an ethical decision, the key to problem definition is to

Owners, customers, and employees are considered to be the _ ____ of a business.

Among the many __________ of any small business are owners, employees, and customers.

Suppliers, creditors, and the community are examples of ______________ of a business.

In drawing up a code of ethics, a small business owner should adopt a code

A baker looking for new retail space has returned from a seminar on environmentalism and wishes to act responsibly in this area. Which action will best accomplish this purpose?

Environmentalism poses the greatest threat to small

Malcolm is careful to share with his employees information about customer orders, financial performance, and quality concerns. Malcolm is exercising _ __.

An example of an industry especially vulnerable to efforts to protect the environment is the _____ industry.

Milton Friedman believed the only ____ of a business is to make a profit while operating within the rules of the game.