Business Ethics and Entrepreneurship

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What is the primary focus of nurturing positive relationships with customers in a company-wide process?

Customer relationship management (correct)

Pricing strategy

Marketing tactics

Business ethics

What does the pricing strategy consider when setting prices for consumers?

Only cost of inputs

Only distribution and overhead costs

Cost of inputs, distribution, and overhead (correct)

None of the above

What is the primary focus of business ethics in entrepreneurship?

Protecting employee and customer rights (correct)

Maximizing profits

Increasing market share

Minimizing costs

What is the better course of action in a partnership dispute?

Buying out the partner's interest in the business Signup and view all the answers

What is an example of gross negligence in a business setting?

Neglecting safety protocols Signup and view all the answers

What is the primary goal of ethical decision-making processes in business?

Protecting the common good Signup and view all the answers

What is a consequence of failing to address unethical behavior in the workplace?

Creation of a toxic work environment Signup and view all the answers

Which of the following is an example of unethical communication in business?

Failing to disclose product defects to customers Signup and view all the answers

What is a key aspect of sustainable entrepreneurship?

Reducing environmental degradation through entrepreneurial action Signup and view all the answers

What is a consequence of business fraud?

Erosion of public trust and legal repercussions Signup and view all the answers

What is a primary goal of corporate social responsibility initiatives?

Improving the quality of life for stakeholders Signup and view all the answers

What is a characteristic of entrepreneurs with high ethical standards?

Demonstrating transparency and accountability in business practices Signup and view all the answers

What is the primary concern in marketing, particularly in the areas of price, placement, and promotion?

Ethics Signup and view all the answers

What is a breach of contract constituted by?

Non-performance or interference with the other party's performance Signup and view all the answers

What is the term for the agreement among competitors to set prices at a certain level, bypassing market forces?

Price fixing Signup and view all the answers

What is the purpose of promotions in marketing?

To boost short-term sales Signup and view all the answers

What is the primary cause of environmental degradation according to environmental economics?

The failure of markets to allocate resources efficiently Signup and view all the answers

What is the term used to describe the replacement of regular workers with temporary workers who receive lower wages and fewer benefits?

Contractualization Signup and view all the answers

What is the term for the strategic positioning of products within retail stores?

Product placement Signup and view all the answers

What is an example of a positioning technique in marketing?

End-cap Signup and view all the answers

What is the inherent nature that drives human beings to seek adequate work and full employment?

Our intrinsic nature to self-preservation Signup and view all the answers

What is a key consideration in setting prices for consumers?

Cost of inputs, distribution, and overhead Signup and view all the answers

What is the consequence of replacing regular workers with temporary workers who receive lower wages and fewer benefits?

Underemployment and decreased productivity Signup and view all the answers

What is the divine plan that guides human beings to seek adequate work and full employment?

The plan to support our family and ensure self-preservation Signup and view all the answers

What can be viewed as a breach of a board member's ethical and legal duty?

Rushing through the investigatory process Signup and view all the answers

What is a form of unlawful sex discrimination in the workplace?

Sexual harassment Signup and view all the answers

Why might an employer be sued?

For threatening or firing whistle-blowers Signup and view all the answers

What is a challenge for employers regardless of the industry?

Maintaining a professional workplace culture Signup and view all the answers

What is always true of sexual harassment?

It is always unwanted and unreciprocated Signup and view all the answers

What is there never an excuse for in the workplace?

Harassment of any kind Signup and view all the answers