SBE 4 - Sustainability in Small Firms Quiz

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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?

One focuses on maintaining the status quo while the other focuses on positive contributions Signup and view all the answers

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

Businesses are both the problem and the solution to sustainability challenges Signup and view all the answers

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

To appropriate some of the pareto improvements as financial reward Signup and view all the answers

Why are firms considered inefficient according to the text?

Because they are ignorant of possibilities Signup and view all the answers

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

Assumption of inexhaustible natural resources Signup and view all the answers

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

Cognitive limits and bounded rationality Signup and view all the answers

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

Small and large firms interact to initiate sector transformation towards sustainability Signup and view all the answers

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

"Efficiency gain from waste reduction (W)" Signup and view all the answers

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

Occupational entrepreneurship is starting your own company and not earning wage, while sustainable entrepreneurship aims to address social and environmental needs. Signup and view all the answers

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

To serve self-interests and the interest of others and society Signup and view all the answers

What are environmental practices as defined in the text?

Efforts made by companies to reduce the impact of their operations on the environment. Signup and view all the answers

What is the stakeholder perspective highlighted in the text?

Firms must consider the needs of a wide variety of stakeholders to grow and survive. Signup and view all the answers

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

Greening processes, greening product/service offerings Signup and view all the answers

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

Exploitation of existing and latent markets, Markets have to be created Signup and view all the answers

What serves as opportunities for entrepreneurs according to the text?

Market failures Signup and view all the answers

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

Firm turnover Signup and view all the answers

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

The existence of market failures Signup and view all the answers

What characterizes sustainable entrepreneurs as described in the text?

They address unmet social and environmental needs. Signup and view all the answers