choose the right answer:

The moral values and behavioral standards entrepreneurs employ daily when making decisions and solving problems are known as:

1. business ethics.

2. social responsibility.

3. the corporate culture.

4. the company policies and procedures.

A company's suppliers are:

1. stockholders

2. bondholders

3. stakeholders

4. None of the above

________ is the ability to develop new ideas and to discover new ways of looking at problems and opportunities.

1. Ability

2. Creativity

3. Innovation

4. Commoditizing

If the business owner wants to determine that the company is serious about its responsibility toward employees, he/she should:

1. focus on creating the maximum return on investment.

2. listen to employees and involve them in decision making.

3. begin a reengineering effort to improve productivity.

4. decrease the cultural diversity in his/her company.

Naser and Abdulaziz are considering starting a new small business and are asking themselves a series of questions like; "What is the worst that could happen if we fail?" "How likely is that to happen?" They are assessing which potential drawback of small business ownership?

1. The risk of losing their entire investment

2. The uncertainty of their income

3. The long hours and hard work involved

4. The lower quality of life they'll experience

Doing what is "right" as opposed to what is "wrong" is:

1. ethical behavior

2. the law

3. legal behavior

4. business behavior

A substantial benefit of starting your own business is:

1. more job security than working for a large corporation.

2. contributing to society and being recognized for your efforts.

3. to be able to choose who you work with or don't work with.

4. more leisure time because there is less of a need to punch a time clock.

Several reasons cause entrepreneurs to start a business, including:

1. having to deal with less government regulation than as an executive of a large company.

2. a much lower risk of career failure due to layoff or acquisition than working for a large company.

3. the opportunity to get rich much quicker than if they work for a large company.

4. an opportunity to make a difference.

Entrepreneurs can be best defined as:

1. a desire for money.

2. a high energy level.

3. an inability to organize but strong conceptual skills.

4. a desire to work alone because of weak management skills and a need for control.

A well-written business plan explains the company's ________.

1. procedures

2. policies

3. business model

4. routines