SMALL BUSINESS MANAGEMENT EXAM 2 [2026]
UPDATED ACTUAL Exam | Question and Answer | A+
VERIFIED ANSWERS
• According to our textbook, the most frequently observed form of workplace
misconduct is.. -✓✓ Misuse of company time
• The belief that the ethical standards of one's own country/culture are superior ad
can be applied universally is known as -✓✓ Ethical imperialism
• The last step in the suggested Ethical Decision-making process is -✓✓ Evaluate
the decision and its outcome
• Ideas for startups can come from a variety of different sources. which of the
following was identified as one of the top three common sources of startup ideas? -
✓✓ Prior work experiences
• SWOT analysis is a technique from strategic management that allows for the
integration of internal and external analyzes. SWOT stands for -✓✓ Strengths,
Weaknesses, Opportunities, Threats
• Successful entrepreneurs are described as possessing the traits of -✓✓
Opportunity recognition and entrepreneurial alertness
• Compared to an entrepreneurial startup, buying a franchise represents -✓✓ Less
risk but less control
,• When deciding whether or not to purchase an existing business the exercise of
reasonable care in the evaluation of the business opportunity is known as -✓✓ Due
diligence
• Integrity -✓✓ A general sense of honesty and reliability that is expressed in a
strong commitment to doing the right thing, regardless of the circumstances.
• Social Entrepreneurship -✓✓ The firm's ethical obligations as a good citizen to it
community.
• Social responsibilities of Small Firms -✓✓ -Obligations to Skateholders
-Contributions to Community Organizations
-Response to Community Needs
-Compliance with Government Regulations
-Support of Educations
Consumerism
-Environment Protection
• Small Companies and the Legitimacy Lie -✓✓ Limited resources tempt small
firms to misrepresent facts and cut ethical corners if an issue affect profits.
• The Integrity Edge -✓✓ Exhibiting integrity in business may actually boost a
firm's performance
• Integrity and the Internet -✓✓ Risks of buying and selling on the Internet
, • Maintenance of Personal privacy -✓✓ -Cookies to profile customers usage of the
Web
-Monitoring employees' e-mail and Internet access
• Protection of Intellectual Property Rights -✓✓ Misappropriation of content
providers' original intellectual creations
• Human Rights and the Abuse of Workers -✓✓ -Illegal immigrants and forced
labor
-Outsourcing into "cheap" labor markets
-Bribery vs customary local practices
• Ethical Imperialism -✓✓ The belief that the ethical standards are subject to local
interpretation and application
• Benefits of Ethical Business Practices -✓✓ - Improved financial performance
- Increased sales and customer loyalty
- Better recruitment and reduced turnover
- Improved access to capital
- Fewer regulatory inspections and less paperwork
- Improved productivity and quality
- Enhanced brand image and reputation
• Underlying values -✓✓ unarticulated ethical beliefs that provide a foundation for
ethical behavior in a firm
UPDATED ACTUAL Exam | Question and Answer | A+
VERIFIED ANSWERS
• According to our textbook, the most frequently observed form of workplace
misconduct is.. -✓✓ Misuse of company time
• The belief that the ethical standards of one's own country/culture are superior ad
can be applied universally is known as -✓✓ Ethical imperialism
• The last step in the suggested Ethical Decision-making process is -✓✓ Evaluate
the decision and its outcome
• Ideas for startups can come from a variety of different sources. which of the
following was identified as one of the top three common sources of startup ideas? -
✓✓ Prior work experiences
• SWOT analysis is a technique from strategic management that allows for the
integration of internal and external analyzes. SWOT stands for -✓✓ Strengths,
Weaknesses, Opportunities, Threats
• Successful entrepreneurs are described as possessing the traits of -✓✓
Opportunity recognition and entrepreneurial alertness
• Compared to an entrepreneurial startup, buying a franchise represents -✓✓ Less
risk but less control
,• When deciding whether or not to purchase an existing business the exercise of
reasonable care in the evaluation of the business opportunity is known as -✓✓ Due
diligence
• Integrity -✓✓ A general sense of honesty and reliability that is expressed in a
strong commitment to doing the right thing, regardless of the circumstances.
• Social Entrepreneurship -✓✓ The firm's ethical obligations as a good citizen to it
community.
• Social responsibilities of Small Firms -✓✓ -Obligations to Skateholders
-Contributions to Community Organizations
-Response to Community Needs
-Compliance with Government Regulations
-Support of Educations
Consumerism
-Environment Protection
• Small Companies and the Legitimacy Lie -✓✓ Limited resources tempt small
firms to misrepresent facts and cut ethical corners if an issue affect profits.
• The Integrity Edge -✓✓ Exhibiting integrity in business may actually boost a
firm's performance
• Integrity and the Internet -✓✓ Risks of buying and selling on the Internet
, • Maintenance of Personal privacy -✓✓ -Cookies to profile customers usage of the
Web
-Monitoring employees' e-mail and Internet access
• Protection of Intellectual Property Rights -✓✓ Misappropriation of content
providers' original intellectual creations
• Human Rights and the Abuse of Workers -✓✓ -Illegal immigrants and forced
labor
-Outsourcing into "cheap" labor markets
-Bribery vs customary local practices
• Ethical Imperialism -✓✓ The belief that the ethical standards are subject to local
interpretation and application
• Benefits of Ethical Business Practices -✓✓ - Improved financial performance
- Increased sales and customer loyalty
- Better recruitment and reduced turnover
- Improved access to capital
- Fewer regulatory inspections and less paperwork
- Improved productivity and quality
- Enhanced brand image and reputation
• Underlying values -✓✓ unarticulated ethical beliefs that provide a foundation for
ethical behavior in a firm
