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business ethics finals Flashcards

1
Q

4 stake holders

A

government, corporators, consumers, & employees

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2
Q

government: law

A

nir or national internal revenue

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3
Q

government: implementing agency

A

bir or bureau of internal revenue

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4
Q

corporators: law

A

corporation code of the ph

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5
Q

corporators: implementing agency

A

securities and exchange commisson

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6
Q

consumer: law

A

consumer act of the ph

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7
Q

consumer: implementing agency

A

dept of trade and industry, dept of health, & dept of agriculture

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8
Q

employees: law

A

labor code of the ph

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9
Q

employees: implementing agency

A

dept of labor and employment

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10
Q

government: rights

A

tax

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11
Q

corporators: rights

A

fairness, accountability, and transparency

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12
Q

consumers: right

A

quality service/product

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13
Q

employees: rights

A

rights of employees

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14
Q

4 prohibited act for employees

A

witholding of wages, reduction of wages, diminution of benefits, & illegal termination

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15
Q

law, implementing agency, fine, & imprisonment: witholding of wages

A

labor code of the ph, dole,1k - 10k, & 3months - 3 years imprisonment

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16
Q

penalty: illegal termination

A

reinstatement, backwages, separation pay

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17
Q

2 exemptions for no return/refund policy

A

2nd hand & change of mind

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18
Q

law, implementing agency, fine, & imprisonment: manufacture, scale, distribution, importation, of products that do not comply with the safety and quality (substandard)

A

consumer act of the ph, dti/doh/doa, 1k - 10k, & 2months - 1year imprisonment

19
Q

law, implementing agency, fine, & imprisonment: manufacture, importation, sale, distribution, importation of unlicensed food, drug, cosmetics, and devices

A

consumer act of the ph, dti/doh/doa, 5k - 10k - & 1year - 5years imprisonment

20
Q

law, implementing agency, fine, & imprisonment: sale of expired drugs or medicines

A

consumer act of the ph, doh, 5k - 10k - & 1year - 5years imprisonment

21
Q

law, implementing agency, fine, & imprisonment: reduction of wages

A

labor code of the ph, dole, 1k -10k, & 3months - 3years imprisonment

22
Q

law, implementing agency, fine, & imprisonment: diminution of benefits

A

labor code of the ph, dole, 1k -10k, & 3months - 3years imprisonment

23
Q

3 price act

A

hoarding, profiteering, & cartel

24
Q

accumulation of commodities or refusal to dispose the products

A

hoarding

25
Q

selling an item in unreasonable price in excess of its real value

A

profiteering

26
Q

agreement between 2 or more business to manipulate the price of commodities

A

cartel

27
Q

law, implementing agency, fine, & imprisonment: hoarding, profiteering, & cartel

A

price act, dti, 5k - 20m, & 5years - 15years imprisonment

28
Q

food in pure form

A

basic necessity

29
Q

plywood, hollowblock, canned goods

A

prime commodities

30
Q

5 scandal

A

enron corporate scandal, lehman brothers, bernie madoff scandal, tyco international scandal, & wordcom scandal

31
Q

large energy, commodities,
and services company based in Houston, Texas

A

enron company

32
Q

2 ceo of enron

A

kenneth lay & jeffrey skillimg

33
Q

putting loans into a dummy company and recording good transactions even though they didnt happen

A

mark to market

34
Q

an american investment bank that had a significant impact on the global financial industry

A

lehman brothers

35
Q

to temporarily remove securities and troubled liabilities from balance sheet while reporting its quarterly financial results to the public. selling assets to the banks they loaned

A

repo 105

36
Q

chair of the Nasdaq
stock market in 1990

A

bernie madoff

36
Q

worst american ceo. belligerent and unrepentant

A

richard fuld jr

36
Q

deposited client funds into a single bank account that he used to pay existing clients who wanted to cash out.

A

bernie madoff scandal

36
Q

was an American telecom company. The Company grew rapidly and became the
third largest telecommunications company in the United States during the year 1988- 1994.

A

worldcom

36
Q

cfo of worldcom

A

scott sullivan

37
Q

a mental resilience exercise where you metaphorically fill a ‘cookie jar’ with past successes or positive experiences

A

cookie jar

37
Q

eldest son committed suicide and another child of him died due to cancer

A

bernie madoff scandal

37
Q

a type of investment fraud in which investors are promised big profits at little or no risk.

A

ponzi scheme

38
Q

ceo of worldcom

A

bernard ebbers

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