SBE 4 - Sustainability in Small Firms Quiz
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Questions and Answers

What is the main concept of sustainability as described in the text?

  • Maximizing profits for future generations
  • Balancing between local and global developments
  • Using renewable resources at a certain level (correct)
  • Promoting unsustainable practices

According to the World Commission on Environment and Development, sustainability is defined as...

  • Meeting present needs without compromising future generations' ability to meet their own needs (correct)
  • Achieving unlimited growth for future generations
  • Prioritizing the needs of future generations over present needs
  • Meeting only the needs of present generations

What is one way sustainability is reflected at the firm level?

  • Ignoring sustainable development goals
  • Offering unsustainable products and services
  • Maximizing environmental harm
  • Greening processes (correct)

What distinguishes 'Doing no harm' from 'Actively doing good' in the context of sustainability?

<p>One focuses on maintaining the status quo while the other focuses on positive contributions (A)</p> Signup and view all the answers

How does the text describe the role of businesses in relation to sustainability?

<p>Businesses are both the problem and the solution to sustainability challenges (A)</p> Signup and view all the answers

What is the main idea behind overcoming market failure according to the text?

<p>To appropriate some of the pareto improvements as financial reward (C)</p> Signup and view all the answers

Why are firms considered inefficient according to the text?

<p>Because they are ignorant of possibilities (B)</p> Signup and view all the answers

What is a key factor contributing to flawed pricing mechanisms as mentioned in the text?

<p>Assumption of inexhaustible natural resources (A)</p> Signup and view all the answers

What is a major challenge posed by imperfect information according to the text?

<p>Cognitive limits and bounded rationality (D)</p> Signup and view all the answers

What is the role of small and large firms in sustainable transformations?

<p>Small and large firms interact to initiate sector transformation towards sustainability (A)</p> Signup and view all the answers

Which factor contributes to entrepreneurs seizing opportunities as mentioned in the text?

<p>&quot;Efficiency gain from waste reduction (W)&quot; (A)</p> Signup and view all the answers

What is the main difference between occupational entrepreneurship and sustainable entrepreneurship?

<p>Occupational entrepreneurship is starting your own company and not earning wage, while sustainable entrepreneurship aims to address social and environmental needs. (C)</p> Signup and view all the answers

Why do sustainable entrepreneurs address environmental issues according to the text?

<p>To serve self-interests and the interest of others and society (D)</p> Signup and view all the answers

What are environmental practices as defined in the text?

<p>Efforts made by companies to reduce the impact of their operations on the environment. (B)</p> Signup and view all the answers

What is the stakeholder perspective highlighted in the text?

<p>Firms must consider the needs of a wide variety of stakeholders to grow and survive. (B)</p> Signup and view all the answers

Based on the text, what are the dependent variables being studied in relation to environmental practices?

<p>Greening processes, greening product/service offerings (B)</p> Signup and view all the answers

What types of opportunities may sustainable entrepreneurs face according to the text?

<p>Exploitation of existing and latent markets, Markets have to be created (B)</p> Signup and view all the answers

What serves as opportunities for entrepreneurs according to the text?

<p>Market failures (A)</p> Signup and view all the answers

What influences greening processes in firms according to the presented models in the text?

<p>Firm turnover (C)</p> Signup and view all the answers

What distinguishes the three types of opportunities mentioned in the text?

<p>The existence of market failures (D)</p> Signup and view all the answers

What characterizes sustainable entrepreneurs as described in the text?

<p>They address unmet social and environmental needs. (C)</p> Signup and view all the answers

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