Social Entrepreneurs, Ethics, and Strategic Planning MCQs

Social Entrepreneurs, Ethics, and Strategic Planning MCQs

Answer these 20+ Social Entrepreneurs, Ethics, and Strategic Planning MCQs and assess your grip on the subject of Social Entrepreneurs, Ethics, and Strategic Planning. Scroll below and get started!

1: Code of ethics is the tool with which the owner of a business communicates ethical expectations to everyone not associated with the business.

A.   True

B.   False

2: Ethics is the rules of moral values that guide decision making.

A.   True

B.   False

3: Ethics make you understand the difference?

A.   Right and Wrong

B.   Good and Bad

C.   Good and Evil

D.   All of the above

4: Mission Statement is a _____ of the reason why an organization exists.

A.   Description

B.   Explanation

C.   Definition

D.   Obscure

5: Philanthropist Goodwill is the level of _____ responsibility in which a business does good without the expectation of anything in return.

A.   Social

B.   Cultural

C.   Political

D.   Moral

6: Social Entrepreneurship is the process of _____ of a new business with the passion of a social, cultural, or environmental mission.

A.   Creation

B.   Innovation

C.   Thinking

D.   Both a and b

7: Social Entrepreneurship is the process of creation and innovation of a new business with the passion of a _____.

A.   Social

B.   Cultural

C.   Environmental mission

D.   All of these

8: Social responsibility is the obligation of a business to have a positive effect on society on four levels:

A.   Economic, Legal, Ethical, and Philanthropic.

B.   Economic, Legal, Social, and Philanthropic.

C.   Economic, Legal, Cultural, and Philanthropic.

D.   Economic, Legal, Moral, and Philanthropic.

9: How many levels of social responsibility are required for it to have a good impact on society?

A.   One

B.   Two

C.   Three

D.   Four

10: Strategic plan is a _____ planning tool used for viewing a business and the environments in which it operates in broadest terms.

A.   Long-term

B.   Short-term

C.   Both a and b

D.   None of these

11: SWOT Analysis is the step of strategic planning in which the managers identify the:

A.   Internal strengths and weaknesses

B.   Opportunities

C.   Threat exist outside

D.   All of them

12: In a SWOT analysis, what does the internal analysis help your business evaluate?

A.   Opportunities and threats within the business.

B.   What your business is capable of and not capable of.

C.   What your company values are.

D.   What your human resources needs are.

13: In a SWOT analysis, what does the external analysis help your business evaluate?

A.   How environmental factors are going to change over the next year.

B.   How changes in the environment are going to positively impact your business.

C.   How changes in the environment are going to negatively impact your business.

D.   How your company can respond to changes in the environment.

14: What drives the ethical behavior in a small business?

A.   A clear code of ethics

B.   A strong social mission

C.   A desire to do the right thing

D.   The owner’s behaviors

15: What are the components of social responsibility?

A.   Economics, legal, ethics, and philanthropy

B.   People, planet, profit, and ethics

C.   Vision, mission, ethics, and philanthropy

D.   Profits, community, ethics, and people

16: ______ are positive events in the environment that your business can capitalize on.

A.   Competitor intelligence

B.   Strengths

C.   Opportunities

D.   Diagnostic tests

17: When a business buys a competitor’s product and takes it apart to see how it works, the business is using ______ to analyze the competition.

A.   Competitive intelligence

B.   Benchmarking

C.   Reverse engineering

D.   Trendwatching

18: How your company can respond to changes in the environment.

A.   Strategic planning can identify ethical issues within the industry that need to be addressed.

B.   Based on the strategic plan, your employees can decide whether to behave ethically.

C.   Strategic planning can help identify who is affected by your business decisions.

D.   Based on the strategic plan, your business can develop a mission statement that incorporates a code of ethics.

19: How can high ethical standards impact your bottom line?

A.   You must sacrifice some profits in order to act ethically.

B.   Having high ethical standards can attract customers and increase profits.

C.   Ethical employees do not always make decisions that benefit the company and jeopardize business.

D.   Competitors will be able to undercut your pricing and decrease your profits.

20: A competitive advantage ______.

A.   Is achievable by copying your competitors

B.   Cannot be duplicated

C.   Is sustainable if your competitors have similar advantages

D.   Should be kept from your competitors

21: How does your business identify if you have a competitive advantage?

A.   By conducting a competitive analysis for your industry.

B.   By conducting a SWOT analysis for your business.

C.   By surveying customers about what your business does well.

D.   By using social media to see what customers are saying about your company.

22: The process of strategic planning provides the business with ______.

A.   A clear set of goals and plans for the next year

B.   A comprehensive competitive analysis

C.   Financial projections for the next three to five years

D.   A long-range tool to help respond to environmental changes

23: How can organizations clearly communicate to employees what the expectations are for ethical behavior?

A.   A code of ethics

B.   A mission statement

C.   Clear performance goals

D.   Ethics training

24: When an organization gives back to the community without the expectations of getting something, like good press, for it, they are engaging in ______.

A.   Social responsibility

B.   Ethical responsibility

C.   Philanthropic goodwill

D.   Social entrepreneurship

25: A mission statement communicates ______.

A.   Why your business exists

B.   The details of how your business operates

C.   Your goals for the business

D.   The objectives of your strategic plan

26: What is the primary reason for social entrepreneurs to start a social entrepreneurship business?

A.   They have an innovative business idea that will help people.

B.   They have a strong social mission to change the world.

C.   They want to help people but also make money.

D.   They see an opportunity to make money while also helping people.