Entrepreneurship II Final Exam Review
Questions and Correct Answers.
One internal factor that affects the business environment is - Answer management style.
Amie talks to customers and suppliers from all over the world on a daily basis. Her company's
involvement with people in so many different countries is due to the trend of - Answer
globalization
Which of the following is an example of a governmental regulatory agency: - Answer Federal
Aviation Administration (FAA)
Economic factors can affect a business's operations by - Answer increasing or decreasing
costs.
True or false: Certain industries are more sensitive to specific environmental changes than
others. - Answer True; some environmental factors have a greater impact on certain
industries
For a business to adapt to changing markets, it is important that it develops an internal
environment that encourages - Answer creativity
Adapting to today's markets usually requires a business to - Answer keep up with
technological changes.
What actions are consumers most likely to take when the economy is poor? - Answer
Restrain their spending
What characteristic has the globalization trend made it necessary for adaptable organizations to
display? - Answer Cultural intelligence
Jodi needs $10,000 per month to operate her photography business. Last month, she made
$13,000. The extra $3,000 are called - Answer slack resources.
What is most likely to occur when a business exhibits ethical behavior by being fair and honest?
- Answer Goodwill
Businesses should practice good ethics because it - Answer is the right thing to do.
, You decide not to take a certain action because you know it's the wrong thing to do. You have
made this decision based on your - Answer ethics
Understanding business ethics can be difficult since - Answer many people aren't sure how
to behave ethically.
A large tech company donates a portion of its proceeds to charity. This is an example of
__________ responsibility. - Answer philanthropic
Why should a business practice good ethics? - Answer An ethical business contributes
toward its own success.
Some people believe that a business's only true ethical obligation is to - Answer make
money.
Entrepreneurs that act ethically are less likely to - Answer harm their customers.
Businesses that are built on strong ethical principles are more likely to - Answer avoid legal
trouble.
Joe's Pizza accidentally used a logo for its business that had already been claimed by another
company. This is an example of - Answer trademark infringement.
Within a startup business or young company, the primary responsibility for acting ethically falls
to - Answer the entrepreneur.
Which of the following best describes corporate social responsibility - Answer Giving back to
the community through charitable efforts
When an entrepreneur makes unethical product decisions, s/he is more likely to - Answer
arm customers through negligence.
"Cheating the system" in entrepreneurship often leads to - Answer legal trouble.
Why is it so important for startup companies to maintain happy, engaged employees - Answer
Employees have a large impact on the success of a business.
Questions and Correct Answers.
One internal factor that affects the business environment is - Answer management style.
Amie talks to customers and suppliers from all over the world on a daily basis. Her company's
involvement with people in so many different countries is due to the trend of - Answer
globalization
Which of the following is an example of a governmental regulatory agency: - Answer Federal
Aviation Administration (FAA)
Economic factors can affect a business's operations by - Answer increasing or decreasing
costs.
True or false: Certain industries are more sensitive to specific environmental changes than
others. - Answer True; some environmental factors have a greater impact on certain
industries
For a business to adapt to changing markets, it is important that it develops an internal
environment that encourages - Answer creativity
Adapting to today's markets usually requires a business to - Answer keep up with
technological changes.
What actions are consumers most likely to take when the economy is poor? - Answer
Restrain their spending
What characteristic has the globalization trend made it necessary for adaptable organizations to
display? - Answer Cultural intelligence
Jodi needs $10,000 per month to operate her photography business. Last month, she made
$13,000. The extra $3,000 are called - Answer slack resources.
What is most likely to occur when a business exhibits ethical behavior by being fair and honest?
- Answer Goodwill
Businesses should practice good ethics because it - Answer is the right thing to do.
, You decide not to take a certain action because you know it's the wrong thing to do. You have
made this decision based on your - Answer ethics
Understanding business ethics can be difficult since - Answer many people aren't sure how
to behave ethically.
A large tech company donates a portion of its proceeds to charity. This is an example of
__________ responsibility. - Answer philanthropic
Why should a business practice good ethics? - Answer An ethical business contributes
toward its own success.
Some people believe that a business's only true ethical obligation is to - Answer make
money.
Entrepreneurs that act ethically are less likely to - Answer harm their customers.
Businesses that are built on strong ethical principles are more likely to - Answer avoid legal
trouble.
Joe's Pizza accidentally used a logo for its business that had already been claimed by another
company. This is an example of - Answer trademark infringement.
Within a startup business or young company, the primary responsibility for acting ethically falls
to - Answer the entrepreneur.
Which of the following best describes corporate social responsibility - Answer Giving back to
the community through charitable efforts
When an entrepreneur makes unethical product decisions, s/he is more likely to - Answer
arm customers through negligence.
"Cheating the system" in entrepreneurship often leads to - Answer legal trouble.
Why is it so important for startup companies to maintain happy, engaged employees - Answer
Employees have a large impact on the success of a business.
