25) The balancing act between ________ and ________, and being inaccessible is a difficult
situation that each individual addresses differently.
A) Being accessible, creating a positive environment
B) Being busy, creating a positive environment
C) Being accessible, creating a negative environment
D) Being open, creating a positive environment
E) Being accessible, creating a constructive environment
Learning Obj.: LO 2
AACSB: Analytical thinking
26) ________ means having rules and safeguards in place to ensure that executives behave
legally and ethically.
A) Corporate governance
B) Corporate domination
C) Commercial governance
D) Corporate authority
E) Corporate supremacy
Learning Obj.: LO 4
AACSB: Analytical thinking
27) Ethical ________ is a circumstance in which there is a conflict of ethical values, which thus
muddy decision making.
A) Dilemma
B) Relativism
C) Imperialism
D) Conduct
E) None of the above
Learning Obj.: LO 3
AACSB: Analytical thinking
28) Some tips that can assist in increasing effectiveness include ________.
A) Prioritize
B) Set realistic daily goals
C) Check e-mail a limited number of times per day
D) Avoid being distracted by portable electronic devices
E) All of the above
Learning Obj.: LO 2
AACSB: Analytical thinking
7
29) Which Microsoft product helps in implementing a Gantt chart?
A) Project
B) Publisher
C) Outlook
D) Access
E) Excel
Learning Obj.: LO 2
AACSB: Analytical thinking
30) Corporate social responsibility is the ethical ________ of a company to its community.
A) Obligation
B) Compulsion
C) Duty
D) Requirement
E) Debt
Learning Obj.: LO 6
AACSB: Analytical thinking
31) A “people come first” method that is effective when the business is in the team-building stage
describes the pacesetting leadership type.
Learning Obj.: LO 1
AACSB: Analytical thinking
32) An advisory board will provide you with sound, ethical business advice without being your
board of directors.
Learning Obj.: LO 4
AACSB: Analytical thinking
33) Whereas the underlying values provide a basis for ethical behavior, clear, written guidelines
can create a firmer foundation and more consistent implementation.
Learning Obj.: LO 5
AACSB: Analytical thinking
8
34) An entrepreneur who does not pay him/herself may not realize the opportunity cost of
working for oneself.
Learning Obj.: LO 1
AACSB: Analytical thinking
35) The issue of business ethics exploded in 1965 when several large corporations were found to
have published inaccurate financial statements. Enron was among these corporations.
Learning Obj.: LO 3
AACSB: Analytical thinking
36) Leadership comes from self-esteem applied to knowledge, skills, and abilities.
Learning Obj.: LO 1
AACSB: Analytical thinking
37) Entrepreneurs who do not pay themselves regularly tend to understate their return on
investment.
Learning Obj.: LO 1
AACSB: Analytical thinking
38) Ethical business behavior is only moral; it does not make good business sense.
Learning Obj.: LO 3
AACSB: Reflective thinking
39) A code of conduct can help eliminate the problem of ethical relativism, which arises when
ethical standards are believed to be subject to local interpretation.
Learning Obj.: LO 3
AACSB: Analytical thinking
40) One of the easiest aspects of maintaining integrity for any entrepreneur is complying with the
multitude of laws that apply to business.
Learning Obj.: LO 4
AACSB: Analytical thinking
9
41) The Silver Rule says, “Do unto others as you would have others do unto you.”
Learning Obj.: LO 3
AACSB: Analytical thinking
42) Leaders perpetually have more tasks to complete than there is time to complete them.
Learning Obj.: LO 2
AACSB: Analytical thinking
43) One recommendation for ethical leadership is that organizations need to put into place a
documented procedure for dealing with ethical challenges.
Learning Obj.: LO 3
AACSB: Analytical thinking
44) Integrity is upholding behavioral standards on the level of the ethical principles that an
individual espouses.
Learning Obj.: LO 4
AACSB: Analytical thinking
45) Getting more done in less time does not contribute to success.
Learning Obj.: LO 2
AACSB: Analytical thinking
46) Describe how your business could support corporate social responsibility.
Learning Obj.: LO 6
AACSB: Reflective thinking
10
47) Draft some items for a code of ethics and business conduct. How do these items support your
business idea?
Learning Obj.: LO 3
AACSB: Application of knowledge
48) What time management tools in chapter 20 would you use? How would you use them?
Learning Obj.: LO 2
AACSB: Application of knowledge
49) As an entrepreneur, how would you pay yourself? Why did you choose that option?
Learning Obj.: LO 1
AACSB: Application of knowledge
50) Which leadership style best suits you? Will this be useful in business? How?
Learning Obj.: LO 1
AACSB: Application of knowledge
11