Question 1

Amanda Albertson and "Durable Doors"
Amanda is a small business owner of "Durable Doors", a manufacturer and installer of garage doors, based in the northeast. Amanda has built the business working very hard in the community. She has earned the reputation as a reliable, trustworthy business owner with solid garage doors. However, given the soft economic conditions with higher gasoline and wood prices, Amanda faces a tough situation. If she continues with her quality standard, she will lose money, but if she inserts panels of mixed lower quality wood she can remain profitable.

-The situation that Amanda faces can be described as a(n)

Accepted Answer

Amanda is faced with a moral dilemma, as she has to decide whether to follow her employer's instructions to alter her research findings or to remain true to her ethical obligations. This is an ethical dilemma, where there are competing ethical obligations, and a decision must be made that will have consequences for all parties involved.

Question 2

When faced with a crisis situation,what steps should a small business owner follow? Explain.

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Question 3

Briefly describe the three types of legitimacy.Provide a few indicator examples for each type.

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Question 4

Amanda Albertson and "Durable Doors"
Amanda is a small business owner of "Durable Doors", a manufacturer and installer of garage doors, based in the northeast. Amanda has built the business working very hard in the community. She has earned the reputation as a reliable, trustworthy business owner with solid garage doors. However, given the soft economic conditions with higher gasoline and wood prices, Amanda faces a tough situation. If she continues with her quality standard, she will lose money, but if she inserts panels of mixed lower quality wood she can remain profitable.

-If Amanda wants a solution that is the best thing for most people,she should explore the ethical model of

Accepted Answer

Utilitarianism is the ethical model that promotes the greatest good for the greatest number of people. Therefore, if Amanda wants a solution that benefits the most people, utilitarianism would be the best model to explore. The other options may also consider the well-being of others, but utilitarianism specifically focuses on maximizing overall happiness and minimizing overall suffering.

Question 5

Compare and contrast between task environment and general environment.

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Question 6

Amanda Albertson and "Durable Doors"
Amanda is a small business owner of "Durable Doors", a manufacturer and installer of garage doors, based in the northeast. Amanda has built the business working very hard in the community. She has earned the reputation as a reliable, trustworthy business owner with solid garage doors. However, given the soft economic conditions with higher gasoline and wood prices, Amanda faces a tough situation. If she continues with her quality standard, she will lose money, but if she inserts panels of mixed lower quality wood she can remain profitable.

-'Durable Doors' is known for its high quality standards,exceptional personalized customer service,and industry leadership.These are indicators of which type of legitimacy?

Accepted Answer

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Amanda is a...

Question 7

Often,the alternative to negotiating together can be _____ if the amounts are small,or undertaking legal action if the amounts warrant legal fees or the hassles of enforcing small claims court decisions.

Accepted Answer

"Lumping it" means accepting an unfavorable situation without complaining or resisting. In this context, it refers to the option of not negotiating and accepting the status quo, especially if the amount at stake is small. The other options mentioned in the question (holding a strike, seeking a new job, seeking results from higher authorities) are not applicable or feasible in this context.

Question 8

"Would others think worse of you if they knew what you had done to resolve your ethical dilemma?" This question is fundamental to which ethical model?

Accepted Answer

The billboard principle involves considering how others would perceive your actions if they were made public, focusing on reputation and public perception.

Question 9

Amanda Albertson and "Durable Doors"
Amanda is a small business owner of "Durable Doors", a manufacturer and installer of garage doors, based in the northeast. Amanda has built the business working very hard in the community. She has earned the reputation as a reliable, trustworthy business owner with solid garage doors. However, given the soft economic conditions with higher gasoline and wood prices, Amanda faces a tough situation. If she continues with her quality standard, she will lose money, but if she inserts panels of mixed lower quality wood she can remain profitable.

-Which of the following might help Amanda with her situation of inserting a lower quality panel in the garage doors to remain profitable?

Accepted Answer

Ethical decision-making would help Amanda assess whether it is morally acceptable to use lower quality panels to remain profitable. This process would involve weighing the consequences of the decision on all stakeholders and making a decision based on ethical principles rather than solely on financial considerations.

Question 10

In a negotiation,_____ is the second-best outcome identified by the parties to help clarify the value of achieving a successful negotiation.

Accepted Answer

BATNA stands for Best Alternative To a Negotiated Agreement, which refers to the next best option or alternative for each party if the negotiation fails. Identifying the BATNA helps in assessing the value of achieving a successful negotiation and in making informed decisions during the negotiation process.

Question 11

Discuss some of the ways to monitor the environment.

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Question 12

How can an entrepreneur make a more ethical decision using ethical decision-making? Explain.

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Question 13

What are the three best practices that can make online social networking successful?

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Question 14

Define social capital.How can a business owner build social capital? Explain.

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Question 15

The creation of something new or trying something for the first time refers to

Accepted Answer

The term "innovation" refers to the creation of something new or trying something for the first time. Personal ethics (A) refers to an individual's moral principles and values, while universalism (C) refers to the belief in the importance of promoting the welfare of all people, regardless of their individual differences. Flexibility (D) refers to the ability to adapt and change as circumstances require.

Question 16

An ethical model which suggests you treat others in the manner you wish to be treated refers to

Accepted Answer

The ethical model that suggests treating others as you wish to be treated is commonly referred to as the Golden Rule. It is a simple, yet powerful ethical principle that encourages empathy and respect for others. The other answer choices do not accurately describe this ethical model. The billboard principle refers to making ethical decisions based on what would look good on a billboard or in the media, universalism is the idea that ethical standards should apply universally to all people, and utilitarianism is the principle that actions should be taken to achieve the greatest amount of happiness for the greatest number of people.

Question 17

Amanda Albertson and "Durable Doors"
Amanda is a small business owner of "Durable Doors", a manufacturer and installer of garage doors, based in the northeast. Amanda has built the business working very hard in the community. She has earned the reputation as a reliable, trustworthy business owner with solid garage doors. However, given the soft economic conditions with higher gasoline and wood prices, Amanda faces a tough situation. If she continues with her quality standard, she will lose money, but if she inserts panels of mixed lower quality wood she can remain profitable.

-If Amanda has tried many ways to think the situation through and still cannot decide whether what she plans to do is ethical,she should explore the ethical model of _____ by asking herself whether she would be comfortable having her decision and name advertised for the public to see.

Accepted Answer

The ethical model referred to in the scenario is the billboard principle, where one considers if they would be comfortable having their decision and name advertised. This principle is often used to determine if a decision is socially acceptable and ethical in a broader context. Universalism focuses on the belief that principles of right and wrong apply universally, while utilitarianism focuses on maximizing the overall well-being of society. The Golden Rule is a moral guideline that suggests treating others as you would like to be treated. None of these models directly correlate with the scenario presented.

Question 18

What is sustainable entrepreneurship? What can entrepreneurs do to manage their firm's impact on the environment?

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Question 19

Briefly describe the four philosophies used to evaluate alternatives you have generated to solve an ethical problem.

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Quiz 2: Small Business Environment: Managing External Relations