Business Ethics and Entrepreneurship
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Questions and Answers

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?

    <p>Buying out the partner's interest in the business</p> Signup and view all the answers

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

    <p>Neglecting safety protocols</p> Signup and view all the answers

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

    <p>Protecting the common good</p> Signup and view all the answers

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

    <p>Creation of a toxic work environment</p> Signup and view all the answers

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

    <p>Failing to disclose product defects to customers</p> Signup and view all the answers

    What is a key aspect of sustainable entrepreneurship?

    <p>Reducing environmental degradation through entrepreneurial action</p> Signup and view all the answers

    What is a consequence of business fraud?

    <p>Erosion of public trust and legal repercussions</p> Signup and view all the answers

    What is a primary goal of corporate social responsibility initiatives?

    <p>Improving the quality of life for stakeholders</p> Signup and view all the answers

    What is a characteristic of entrepreneurs with high ethical standards?

    <p>Demonstrating transparency and accountability in business practices</p> Signup and view all the answers

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

    <p>Ethics</p> Signup and view all the answers

    What is a breach of contract constituted by?

    <p>Non-performance or interference with the other party's performance</p> 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?

    <p>Price fixing</p> Signup and view all the answers

    What is the purpose of promotions in marketing?

    <p>To boost short-term sales</p> Signup and view all the answers

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

    <p>The failure of markets to allocate resources efficiently</p> 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?

    <p>Contractualization</p> Signup and view all the answers

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

    <p>Product placement</p> Signup and view all the answers

    What is an example of a positioning technique in marketing?

    <p>End-cap</p> Signup and view all the answers

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

    <p>Our intrinsic nature to self-preservation</p> Signup and view all the answers

    What is a key consideration in setting prices for consumers?

    <p>Cost of inputs, distribution, and overhead</p> Signup and view all the answers

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

    <p>Underemployment and decreased productivity</p> Signup and view all the answers

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

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

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

    <p>Rushing through the investigatory process</p> Signup and view all the answers

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

    <p>Sexual harassment</p> Signup and view all the answers

    Why might an employer be sued?

    <p>For threatening or firing whistle-blowers</p> Signup and view all the answers

    What is a challenge for employers regardless of the industry?

    <p>Maintaining a professional workplace culture</p> Signup and view all the answers

    What is always true of sexual harassment?

    <p>It is always unwanted and unreciprocated</p> Signup and view all the answers

    What is there never an excuse for in the workplace?

    <p>Harassment of any kind</p> Signup and view all the answers

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