Ethical Principles
This ethical principle means being honest and open when communicating with others.
What is Transparency?
A company exaggerates its product in an ad. Which ethical principle is being violated?
What is Transparency (honesty in communication)?
This type of entrepreneur focuses on local community needs and stable income.
What is a Small Business Entrepreneur?
The ability to create new ideas or products that change the way people live.
What is Innovation?
Creating a business with limited funds and creativity instead of external funding.
What is Bootstrapping?
Acting according to moral and ethical values, even when no one is watching.
What is Integrity?
An employee notices a coworker stealing supplies. What is the ethical action?
Report it or confront respectfully (demonstrate accountability and integrity).
These entrepreneurs aim for rapid growth and often seek outside investors.
What are Scalable Startup Entrepreneurs?
The trait that helps entrepreneurs stay committed despite challenges.
What is Persistence?
A 30–60 second summary of a business idea to attract interest.
What is an Elevator Pitch?
Taking responsibility for your actions and following through on promises.
What is Accountability?
True or False: Ethical behavior is only important for large corporations.
False. Ethics matter in all businesses, big or small.
This type purchases existing businesses to grow them further.
What are Buyer Entrepreneurs?
The skill that helps entrepreneurs effectively share their ideas and motivate others.
What are Communication Skills?
Allowing others to take responsibility for tasks instead of micromanaging.
What is Delegation?
This kind of problem has no clearly right answer and often involves two conflicting choices.
What is an Ethical Dilemma?
When deciding between two bad options, what should a business consider?
All stakeholders and long-term consequences.
Entrepreneurs who aim to solve social problems through business innovation.
What are Social Entrepreneurs?
The ability to understand the needs, wants, etc. of others that helps leaders build positive team cultures.
What is Emotional Intelligence?
The approach that starts with customer needs before developing a product.
What is the Outside-In Approach?
Explain one reason why ethics are important in business.
Answers may vary: Builds trust, protects reputation, improves relationships, creates sustainability, etc.
Give one example of an ethical dilemma a small business might face.
Examples vary: Customer refunds, fair pay, environmental impact, etc.
Someone who acts like an entrepreneur but works inside a company.
What is an Intrapreneur?
The difference(s) between traits and skills.
Traits are inborn or personality-based, while skills are learned and practiced.
The three features that make an opportunity viable: Market, Margin, and ____.
What is Mission?