What Would You Do

question 7

Multiple Choice

What Would You Do?
Imagine that you are the head of a company that manufactures secondary wood products for the construction industry.Recently, there have been many reports of a plywood subflooring product that has been failing in a number of commercial locations resulting in several complaints about ruined floor coverings and, in one instance, partial collapse of a third floor, which injured three people.Your head of research and development has asked you to stop selling the product and wants to run tests on the product to determine the problem.However, third-quarter earnings reports are due out in two weeks and public knowledge of problems with a lucrative product may delay the financing of the company's expansion plans and also lower stock price.Your dilemma: Do you delay or refuse the product research, thereby enhancing the expansion plans but risking other damage and public safety, or do you immediately stop sales of the product and run the necessary tests, thereby risking the expansion plans?
-Refer to What Would You Do? (Scenario) .As you think about your options, you review what you know about the arguments supporting the socioeconomic view.They include all the following EXCEPT ________.

• A)the time frame argument which contends that managers should be concerned with maximising financial returns over the long run
• B)it is managers' responsibility to protect society's welfare by not polluting, not discriminating, not engaging in deceptive advertising
• C)when managers decide on their own to spend their organisation's resources for the 'social good', they are adding to the costs of doing business
• D)the classical view flies in the face of reality.Modern business organisations are no longer merely economic institutions
• E)modern society expects and even encourages businesses to become involved in social, political and legal issues

Comprehend the global growth and relevance of entrepreneurship.

Acknowledge the importance of resilience and adaptability in entrepreneurship.

Recognize the significance of financial management and planning for entrepreneurs.

Understand the role of education and research in supporting entrepreneurship.

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Definitions:

Neon

Neon is a chemical element with symbol Ne and atomic number 10, known as a noble gas that exhibits a distinct reddish-orange glow when used in lamps and advertising signs.

Synthetic Element

An element that is not found naturally on Earth and can only be created artificially in a laboratory or nuclear reactor.

Technetium

A radioactive chemical element with symbol Tc and atomic number 43, noteworthy for being the first element to be artificially produced.

Continuous Spectrum

A type of emission spectrum showing an uninterrupted band of colors from red to violet, typically emitted by an incandescent solid, liquid, or gas under pressure.