BUSINESS ETHICS AND SOCIAL RESPONSIBILITY

Question 1

of goods and/or services to consumers.
_________ can refer to a particular organization or to an entire market sector, ex. “the music business”.
__________ is an active process which is an integral part of human society.

The goal is for sales to be more than expenditures resulting in a profit.

Answer 1

Business

Question 2

Nature of Business

Answer 2

Economy
Engine

Question 3

is defined as a place or a country where resources are managed by a government to bring about maximum benefits for the entire society.

Answer 3

Economy

Question 4

Business are considered the ______ of the economy because they contributed to the economy of our country through paying corporate taxes so that the government can provide and promote social welfare of its citizens. Business also provides job opportunities which compensates the people in the society.

Answer 4

Engine

Question 5

Historical Milestones in Production and Operations Management

Answer 5

•The Industrial Revolution
•Post-Civil War Period
•Scientific Management
•Human Relations and Behaviorism
•Operations Research
•The Service Revolution

Question 6

Instruments of Exchange

Answer 6

Money

Question 7

Types of money:

Answer 7

a. Near money
b.Quasi/substitute money

Question 8

-assets that can easily be turned into cash,ex.certificate of deposits, bills of exchange

Answer 8

a. Near money

Question 9

-examples are postal orders, soda machine tokens, cheques and credit cards.

Answer 9

b.Quasi/substitute money

Question 10

Instruments of Exchange

Answer 10

Bank draft
Bill of exchange
Cheques
Credit cards/debit cards
Ecommerce
Internet banking/on-line banking
Electronic transfer
Money order
Tele-banking

Question 11

Classification of Business Organizations

Answer 11

1.Service businesses
2.Merchandising businesses
3. Manufacturing businesses

Question 12

provide services to customers rather than goods

Answer 12

1.Service businesses

Question 13

sell to customers products they buy from other businesses

Answer 13

2.Merchandising businesses

Question 14

turn basic inputs into products which are sold to consumers.

Answer 14

3. Manufacturing businesses

Question 15

Forms of Business Organization

Answer 15

°Organization
°Sole proprietorship
°Partnership
°Corporation
°Cooperatives
°Conglomerates
°Franchise
°Multinationals
°Nationalized Industries

Question 16

is a system that groups people together towards establishing a common goal.

Business organizations are centered on creating goods and services for profit.

Answer 16

Organization

Question 17

It is a one-person business

Answer 17

Sole proprietorship

Question 18

It is a business relationship between two or more people

Answer 18

Partnership

Question 19

It is an entity created by law that is independent and distinct from its owners and relies on the corporate laws of the state in which it is incorporated to continue its existence.

Answer 19

Corporation

Question 20

entities owned by their members who purchase shares to join them.

Answer 20

Cooperatives

Question 21

group of unrelated companies under one umbrella.

Answer 21

Conglomerates

Question 22

some businesses begin by the owner acquiring a f________ to operate under an already existing business name. -an agreement between a franchisee(the person requesting permission to set up business) and the parent company to allow the franchisee to sell its products or services.

Answer 22

Franchise

Question 23

Best Franchise Business Opportunities in the Philippines

Answer 23

Potato Corner Franchise.
Siomai King Franchise.
Master Siomai Franchise.
Zagu Franchise.
Mr. Liempo Franchise.
Aquabest Franchise.
Turks Franchise.
Bayad Center Franchise.

Question 24

is a global organization directed from a main center or office. They provide employment, introduce advanced technology and provide well needed goods and services.

Answer 24

Multinationals

Question 25

are government owned and controlled businesses. A chairman of the board of directors are appointed by the government to run them.

-Essential services such as water, electricity and transportation.

Answer 25

Nationalized Industries

Question 26

TOP 5 GOCC OR GOVERNMENT-OWNED & CONTROLLED CORPORATIONS

Answer 26

1. GSIS
2. SSS
3. PAG-IBIG
4. LAND BANK OF THE PHILIPPINES
5. PHILHEALTH

Question 27

The primary purpose of a business is to maximize profits for its owners or stakeholders while maintaining corporate social responsibility.

• Organizational purpose rests at the intersection of who they are and what need they fulfill in the world. It’s the underlying reason why organization exists. While mission and vision may change over time, but company’s purpose will not. Organizational purpose is timeless.

Answer 27

Purpose of business organization