21 Questions
What is the main concept of sustainability as described in the text?
Using renewable resources at a certain level
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
What is one way sustainability is reflected at the firm level?
Greening processes
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
How does the text describe the role of businesses in relation to sustainability?
Businesses are both the problem and the solution to sustainability challenges
What is the main idea behind overcoming market failure according to the text?
To appropriate some of the pareto improvements as financial reward
Why are firms considered inefficient according to the text?
Because they are ignorant of possibilities
What is a key factor contributing to flawed pricing mechanisms as mentioned in the text?
Assumption of inexhaustible natural resources
What is a major challenge posed by imperfect information according to the text?
Cognitive limits and bounded rationality
What is the role of small and large firms in sustainable transformations?
Small and large firms interact to initiate sector transformation towards sustainability
Which factor contributes to entrepreneurs seizing opportunities as mentioned in the text?
"Efficiency gain from waste reduction (W)"
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.
Why do sustainable entrepreneurs address environmental issues according to the text?
To serve self-interests and the interest of others and society
What are environmental practices as defined in the text?
Efforts made by companies to reduce the impact of their operations on the environment.
What is the stakeholder perspective highlighted in the text?
Firms must consider the needs of a wide variety of stakeholders to grow and survive.
Based on the text, what are the dependent variables being studied in relation to environmental practices?
Greening processes, greening product/service offerings
What types of opportunities may sustainable entrepreneurs face according to the text?
Exploitation of existing and latent markets, Markets have to be created
What serves as opportunities for entrepreneurs according to the text?
Market failures
What influences greening processes in firms according to the presented models in the text?
Firm turnover
What distinguishes the three types of opportunities mentioned in the text?
The existence of market failures
What characterizes sustainable entrepreneurs as described in the text?
They address unmet social and environmental needs.
Test your knowledge about sustainability in small firms, including the concept of sustainability, human well-being for present and future generations, the balance between people, planet, and profit, and the importance of development that lasts.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
