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business ethics Flashcards

1
Q

multi-disciplinary

A

business ethics

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2
Q

area of study

A

discipline

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3
Q

3 disciplines

A

philosophy, economy, & political science

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4
Q

branch of social science that deals with the study of wisdom and the critical inquiry of the nature of the world

A

philosophy

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5
Q

branch of philosophy that deals with knowledge

A

epistemology

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6
Q

branch of philosophy that deals with nature of reality

A

metaphysics

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7
Q

branch of philosophy that deals with reasoning

A

logic

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8
Q

branch of philosophy that deals with study of beauty

A

aesthetics

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9
Q

branch of philosophy that deals with morality

A

ethics

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10
Q

greeks: what is right = gives them ________ & ______

A

happiness & pleasure

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11
Q

judeo-christian: what is good = gives them _________

A

salvation

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12
Q

3 types of ethics

A

meta ethics, normative ethics, & applied ethics

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13
Q

type of ethics that answers the question of what is right or wrong

A

meta ethics

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14
Q

type of ethics that seeks to prescribe standard of morality

A

normative ethics

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15
Q

type of ethics that practical application of morality

A

applied ethics

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16
Q

4 branch of normative ethics

A

consequentialism, utilitarianism, deontology, & virtue ethics

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17
Q

branch of normative ethics: outcome of an action. regardless of the manner of action but the outcome is moral

A

consequentialism

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18
Q

“the end justifies the means”

A

niccolo machiavelli

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19
Q

branch of normative ethics: negative way but will benefit the majority. after doing the action, the doer will not be harmed and will not benefit

A

utilitarianism

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20
Q

branch of normative ethics: judges an act as moral or good based on the intentions of the individual committing the act and the duties the person is obligated to uphold

A

deontology

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21
Q

branch of normative ethics: if you posses the right character you will do what is right

A

virtue ethics

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22
Q

4 virtues

A

prudence, courage/fortitude, temperance, & justice

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23
Q

virtue: posses the wisdom. cautiousness

A

prudence

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24
Q

virtue: bravery/mental strength

A

courage/fortitude

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25
Q

virtue: restrain. possessing the behavior to avoid things. self-discipline

A

temperance

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26
Q

virtue: fairness

A

justice

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27
Q

branch of utilitarianism: sacrifice to benefit others but the doer of the action will be harmed

A

altruism

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28
Q

views life in negative way . 4 noble truths. siddharta gautama

A

buddhism

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29
Q

the golden rule “do not onto other what do you dont want to do onto you”. confucuis

A

confucianism

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30
Q

concept of karma. reincarnation

A

hinduism

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31
Q

4 noble truths

A
  1. life is full of suffering
  2. suffering is caused by desire
  3. in order to stop suffering you must stop to desire
  4. in order to prevent desire you must follow the 8 fold paths
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32
Q

8 fold paths (2 only)

A

right action & right mindset

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33
Q

is branch of social science that deals allocations of limited natural resources in order to satisfy unlimited human wants and needs

A

economics

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34
Q

4 means of production

A

land, labor, capital, & entrepreneurship

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35
Q

4 means of production: where natural resources comes from

A

land

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36
Q

4 means of production: man power

A

labor

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37
Q

4 means of production: equipment and money

A

capital

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38
Q

4 means of production: business. product of combining the land, labor, and capital

A

entrepreneurship

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39
Q

“the law may be harsh but thats the law”

A

dura sea lex

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40
Q

is the willingness of the buyer to purchase goods and services at a price

A

demand

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41
Q

is the quality of commodities that a seller is willing to sell at a given price

A

supply

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42
Q

transaction between sellers and buyers

A

market

43
Q

is a rule of conduct just and obligatory promulgated by competent authority for the common good of the people

A

law

44
Q

3 type of business

A

sole proprietorship, partnership, and corporation

45
Q

3 type of business: solo business & one owner

A

sole proprietorship

46
Q

3 type of business: according to article 1767 civil code of the philippines, is a contract between 2 or more persons who binds themselves to contribute money, property, and industry to a common fund with the intention to divide profits among themselves

A

partnership

47
Q

3 type of business: according to section 2 of the corporation code of the philippines, is an artificial being created by the operations of the law, having the rights of succession with power, attributes, and properties expressly provided by the law and incidental to its existence

A

corporation

48
Q

is an economic activity that involves manufacturing, accounting, and advertising and other things in order to earn a profit. bottom line is profit

A

business

49
Q

drives economic circulation

A

desire

50
Q

added price by government due to shipping from another country

A

tariff

51
Q

side street vendors

A

informal economy

52
Q

different corporation who joint themselves to create new business

A

joint venture

53
Q

manages different business in various industry

A

conglomerate

54
Q

original founder

A

incorporators

55
Q

invests money in a corporation

A

corporators

56
Q

created by the law. people inside of a corporation

A

artificial being

57
Q

one business brand only dictates the price

A

monopoly

58
Q

is a set of rules or procedures by which the corporation is managed. it is designed to ensure that the corporation is managed in the interest of the stakeholders

A

corporate governance

59
Q

the capacity of the people to buy goods & services

A

purchasing power

60
Q

5 authorized cause

A

installation of labor saving device, retrenchment, redundancy, cessation, & incurable disease

61
Q

5 authorized cause: illnesses which cannot be cured with existing treatments, and there is no known path to recovery

A

incurable disease

62
Q

5 authorized cause: will transfer to machine

A

installation of labor saving device

63
Q

5 authorized cause: reducing man power to reduce financial loss

A

retrenchment

64
Q

5 authorized cause: man power is excess in what demanded. will give compensation

A

redundancy

65
Q

5 authorized cause: closure of business

A

cessation

66
Q

6 right of employees: fairness

A

equal opportunity

67
Q

6 right of employees

A

equal opportunity, work days/hours, rest period. wages. rest day, & employment of children

68
Q

6 right of employees: total of 9hrs (8hrs work & 1hr break)

A

work days/hours

69
Q

6 right of employees: need 24hrs no work

A

rest period

70
Q

6 right of employees: permission of parents

A

employment of children

71
Q

4 just cause

A

serious misconduct & willful disobedience, gross & habitual neglect of duties, commission of a crime, & fraud or willful breach of trust

72
Q

4 just cause: not following orders

A

serious misconduct & willful disobedience

73
Q

6 right of employees: legal tender

A

wages

74
Q

4 just cause: failure to perform duty

A

gross & habitual neglect of duties

75
Q

4 just cause: committing crime

A

commission of a crime

76
Q

4 just cause: dishonesty

A

fraud or willful breach of trust

77
Q

parts of certificate of employment

A

name, name of company, duration, & position

78
Q

business: government

A

national internal revenue code

79
Q

business: investors/stakeholders

A

revised civil code of the philippines

80
Q

business: consumer

A

consumer act of the philippines

81
Q

business: employees

A

labor code

82
Q

attempt to minimize payment of taxes or remove all together but legal way

A

tax avoidance

83
Q

attempt to minimize payment of taxes or remove all together but illegal way

A

tax evasion

84
Q

3 elements of corporate governance

A

fairness, accountability, & transparency

85
Q

3 elements of corporate governance: ability to make decision without prejudice or bias

A

fairness

86
Q

3 elements of corporate governance: is the obligation to demonstrate that your duty or work has been carried out in accordance with the rules and standard. being held answerable to your action

A

accountability

87
Q

3 elements of corporate governance: honesty & openness or full disclosure of relevant information to other stakeholders

A

transparency

88
Q

hr

A

human resources

89
Q

ceo

A

chief executive officer

90
Q

coo

A

chief operating officer

91
Q

cfo

A

chief financial officer

92
Q

cto

A

chief technology officer

93
Q

5 types of employment

A

regular employment, probationary employment, fixed term or contractual employment, seasonal employment, & project based employment

94
Q

5 types of employment: full time employee. permanent employment (unless resign or terminated). annual evaluation

A

regular employment

95
Q

5 types of employment: employee is on trial period. to be evaluated by the employer

A

probationary employment

96
Q

5 types of employment: dependent on the specific period of employment as provided on contract or agreement

A

fixed term or contractual employment

97
Q

5 types of employment: dependent on the completion of the project or specific undertaking

A

project based employment

98
Q

5 types of employment: dependent of specific period of time of the year

A

seasonal employment

99
Q

holiday pay

A

hourly rate 30%

100
Q

overtime pay

A

25%

101
Q

maternity leave

A

105 days

102
Q

paternity leave

A

7 days

103
Q

night differential

A

10%

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