BUS. ETHICS Flashcards
What are the 3 Forms of Business Organization according to ownership
- SOLE PROPRIETORSHIP
- PARTNERSHIP
- CORPORATION
What other forms of business?
- COOPERATIVE
- SOCIO-ECONOMIC DEVELOPMENT
Is the type of business entity owned and operated by a single person. (recognized by the law)
SOLE PROPRIETORSHIP
- Is a business owned by two or more person who contribute resources into the entity.
- The partners divide the profits of the business among themselves. (under Civil Code)
PARTNERSHIP
Is an enterprise chartered by law with most of the legal rights of a person including to conduct a business, to own and sell property, to borrow money, to sue and be sued.
CORPORATION
- Is a business organization that has a separate legal personality from its owners.
- Ownership in a stock corporation is represented by shares of stock.(under Corporation Code)
CORPORATION
Is an autonomous and duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve their social, economic and cultural needs and aspirations by making equitable contributions to the capital required, patronizing their products and services.
COOPERATIVE
Its purpose is to maintain the social and material well-being of the nation and its people with the aim of achieving the highest possible level of human development.
SOCIO-ECONOMIC DEVELOPMENT
You engage into this if you want profits.
BUSINESS
This refers to two or more people who work together or do business together.
PARTNERS
This is what most businesses aim for.
PROFIT
This is another term for the owner of a business.
- PROPRIETOR
- ENTREPRENEUR
- Refer to guide what human ought to do, usually in terms of right, obligations, fairness and specific virtue.
- It is related to issues of propriety rightness and wrongness, what is right in ethical, what is wrong in unethical.
ETHICS
Difference of Ethics and Etiquette
- Ethics refers to morality, honesty, and integrity.
- Etiquette refers to politeness and related social convention
It is a behavior that is socially correct and shows understanding of and care for other people’s feelings.
SOCIAL POLITENESS
What are the four types of politeness strategy according to Brown and Levinson?
- POSITIVE POLITENESS
- NEGATIVE POLITENESS
- BALD ON RECORD
- OFF RECORD
- Are used to straightforwardly address the other person or the hearer to express the speaker’s needs.
- It is a direct way of communicating without neglecting imposition.
BALD ON RECORD STRATEGIES
- A behavior that is respectful and appreciated by everyone.
- There are many basic manners that everyone should apply in their life.
POLITENESS
What is the role of politeness in the society?
- HELPS BUILD RELATIONSHIPS
- FOSTER UNDERSTANDING
- PROMOTE COOPERATION
What are the common synonyms of Polite
CHIVALROUS
CIVIL
COURTEOUS
GALLANT
- It is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment.
- refers to policies and practices related to such things as: Corporate governance
BUSINESS ETHICS
Nature of Business Ethics
- RULES AND PRINCIPLES
- VOLUNTARY
- AVOIDS CHEATING & FRAUD
- DYNAMIC CONCEPT
- SOCIAL WELFARE
- NEW CONCEPT
- Is a set of values, codes, or principles that help people understand the surrounding world and their role in it.
- These systems can change over time based on shifting societal values and other external stimuli.
BELIEF SYSTEM
Values and Ethical Considerations: Belief systems often encompass a set of values and ethical principles. These principles can guide entrepreneurs in making decisions that align with their moral compass and contribute to the greater good
CONDUCT OF BUSINESS
