Final

Question 1

is a concept that encompasses transparent, accountable and effective decision- making processes within a system, promoting fairness, participation, and the rule of law to achieve the well being of the stakeholders.

Answer 1

Good Governance

Question 2

refers to a company’s voluntary actions to address social and environmental impacts beyond legal requirements, often encompassing philanthropy, ethical practices, and community engagements

Answer 2

Corporate Social Responsibility

Question 3

refers to the processes, policies and procedures that organizations put in place to safeguard their assets, ensure the accuracy of financial information, and promote compliance with laws and regulations.

Answer 3

Internal Control

Question 4

Is the person responsible for leading and managing the entire organization in achieving its organizational goals.

Answer 4

CEO

Question 5

It refers to the systematic endeavor to understand moral concepts and justify moral principles and theories. it involves the collection and interpretation of data on what people from various circumstances believe, without consideration of appropriateness or reasonableness.

Answer 5

Ethics

Question 6

aims to protect investors by requiring more reliable and more accurate corporate disclosures.

Answer 6

SOX Law

Question 7

is a regulatory body responsible for supervising and overseeing the securities industry in the country. It ensures compliance with securities laws, protects investors, and maintains integrity of the financial markets in the Philippines

Answer 7

Security and Exchange Commission (SEC)-

Question 8

a legal system that controls and regulates the business activities of a certain country.

Answer 8

Regulation

Question 9

ensure that the company adheres to legal requirements and industry standards, reducing the risk of legal penalties and damage to the company’s reputation.

Answer 9

Compliance

Question 10

helps identify and mitigate risks, such as financial mismanagement or data breaches, protecting the economy and its stakeholders

Answer 10

Risk Management

Question 11

often include provisions to safeguard consumer’s rights, ensuring fair and ethical business practices.

Answer 11

Consumer Protection

Question 12

promote fair competition by preventing anti-competitive behavior and ensuring a level playing field for all participants in the market.

Answer 12

Fair Competition

Question 13

Often align corporate actions with the broader public interest, addressing societal concerns and ensuring corporate contributions to the common good.

Answer 13

Public Interest

Question 14

broad discipline that attempts to address improper attitudes and actions that could be detrimental to the company.

Answer 14

Business Ethics

Question 15

Are actions of the corporations, as a legal entity, as well as the actions of corporate officers and employees that are contrary to prevailing laws and government regulations.

Answer 15

Illegal Acts

Question 16

involve behavior that goes against moral principles or accepted standards, even if not necessarily against the law.

Answer 16

Unethical Acts

Question 17

encompasses the professional interactions and contractual agreements between individuals working for an organization and their employers.

Answer 17

Employee & Employer Relationship-

Question 18

This outlines the terms and conditions of employment and are negotiated thru the process of collective bargaining where both parties discuss and agree on this terms. Important to maintain peace and assurance that both workers and employers have clear expectations about a working relationship.

Answer 18

Collective Bargaining Agreement (CBA)

Question 19

sees the workplace as a unified and harmonious entity. Assumes that there is a single source of authority and that conflicts of interest are minimal.

Answer 19

Unitarism

Question 20

acknowledges that organizations consist of diverse groups with different interests. It assumes that conflicts through negotiation and collective bargaining.

Answer 20

Pluralism

Question 21

views that employment relationship has an inherent conflict of interest between owners and the working class. Employers are using the employees for gaining profit.

Answer 21

Marxism

Question 22

is a foundation of modern internal controls and fraud deterrence. This framework has been used to guide and help develop other existing compliance frameworks.

Answer 22

COSO Framework

Question 23

they express opinion on truthfulness of the financial statements of the company. They focus on the fairness of corporate financial statements insofar as adherence to applicable accounting standards are concerned.

Answer 23

External Auditors

Question 24

involves in the interactions and communications between a business and its customers. It encompasses customer service, support, feedback mechanisms and efforts to build positive relationships with consumers.

Answer 24

Consumer Relation

Question 25

is often referred to as a process, strategy, or software/technology that enables organizations to manage relationships with their customers, vendors, and suppliers.

Answer 25

Consumer Relationship Management (CRM)

Question 26

refers to the interactions and connections a business has with the local community. This involves social responsibility, corporate philanthropy, and efforts to contribute positively to the community.

Answer 26

Community Relation

Question 27

is about ensuring long-term business success while contributing towards economic and social development, a healthy environment and a stable society.

Answer 27

Sustainability

Question 28

is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Answer 28

Sustainable Development

Question 29

The organization hold it as social responsibility to uphold human rights by ensuring employees rights are protected, diversity are respected and all forms of discrimination is eliminated in compliance with International Human Rights Law.

Answer 29

Human Rights

Question 30

Job creation, payment of wages, payment of compensation and benefits for work performed are among an organization’s social and
economic responsibility.

Answer 30

Labor Practices

Question 31

Organizations are expected to make meaningful contribution to the community which they operate by guaranteeing employment and a healthy society that improves the quality of life of the population.

Answer 31

Community Involvement & Development

Question 32

HR should initiate or support the development or upgrade of the mission, vision and values foundation if one does not exist or does not address CSR.

Answer 32

Mission, Vision & CSR Strategy

Question 33

promoting diversity and inclusion within the workplace reflects positively on CSR, demonstrating a commitment to social values and equal opportunity.

Answer 33

Diversity & Inclusion initiatives

Question 34

ensuring fair and ethical recruitment practices align with CSR goals, demonstrating a commitment to treating employees and candidates with integrity and respect.

Answer 34

Ethical Hiring Practices

Question 35

Investing in employee development not only enhances skills but also demonstrates a commitment to the well-being and growth of employees, aligning with CSR practices.

Answer 35

Orientation, Training and Competency Development

Question 36

HR should put in place policies that guarantee
equality, well-being and fair payment. Employees should also be rewarded for adhering to sustainable and socially responsible business practices.

Answer 36

Rewards & Compensation

Question 37

HR should be at the fore-front of transmitting the culture of sustainability of Parent companies in developed economies to Multi-National Companies in emerging economies in their engagement with employees and other internal and external stakeholders.

Answer 37

Change Management & Corporate Culture

Question 38

encouraging employees to participate in volunteer activities contributes to CSR by addressing community needs and fostering a sense of social responsibility among staff.

Answer 38

Employee Volunteering Programs

Question 39

HR is also in a position to drive policy development and program implementation in HR areas that directly support CSR values, like: Wellness, Diversity, Work-life Balance and Flextime Policies.

Answer 39

CSR Policy & Program Development-

Question 40

It is an idea that a corporation is not a single entity but rather a complex web/ network of contracts among various parties that include shareholders, employees, creditors, suppliers and other stakeholders.

Answer 40

Nexus of Contract Approach

Question 41

This highlights the idea that in some industries or organizations, the production process is a collaborative effort of multiple individuals or teams.

Answer 41

Team Production Model

Question 42

The organization use to empower their employees with decision-making authority within certain parameters

Answer 42

The Operational Discretion Model

Question 43

This typically involves a commitment to social and political progress thru policies that address inequality, promote inclusive and prioritize environmental sustainability.

Answer 43

The Progressive View

Question 44

Is a legal principle that protects corporate directors and officers from personal liability for decisions made in good faith and in the best interests of the company.

Answer 44

The Business Judgement Rule

Question 45

Socially responsible practices can enhance company’s reputation, attract customers and positive business environment.

Answer 45

Economic Impact

Question 46

Investing in social & environmental initiatives can build trust with consumers, investors and communities, potentially leading to enhanced brand loyalty and financial performance over time.

Answer 46

Long Term Value

Question 47

They argue that businesses have a responsibility beyond profit- making and should actively contribute to societal well being by addressing environmental concerns, supporting communities and promoting ethical business practices.

Answer 47

Ethical Considerations

Question 48

While some argue that socially responsible initiatives may involve additional costs, other contend that the long-term benefits, such as improved reputation and customer loyalty, outweigh the initial investments

Answer 48

Costs & Benefits

Question 49

In regions where there are legal requirements related to social and environmental practices, companies may engage in CSR to meet these obligations and avoid legal issues.

Answer 49

Regulatory Compliance

Question 50

A growing perspective is that businesses should engage with a broader range of stakeholders, including customers, employees and communities.

Answer 50

Stakeholders Engagement