Finals Flashcards
1
Q
What are the reasons to do business beyond profit?
A
- Profit is an output, not a purpose
- Companies with a purpose beyond profit tend to make more money
- Business needs Purpose than Profit to Make It Through
- What is the purpose of doing business if it is not being profitable?
- Business with a strong sense of
purpose are more successful
2
Q
Profit cannot be the goal, vision, or the purpose of an organization.
A
- Profit is an output, not a purpose
3
Q
Profit is too temporary to guide a business by.
A
- Profit is an output, not a purpose
4
Q
source of long-term success
A
Satisfied Customers
5
Q
Because satisfied customers are the only source of long-term success, measures need to be related to purpose as defined from a customer point of view.
A
- Companies with a purpose beyond profit tend to make more money
6
Q
Many corporate and business strategies now include…
A
Sustainability
7
Q
Many corporate and business strategies now include sustainability. In addition to the traditional environmental ‘green’ sustainability concerns, business ethics practices have expanded to include social sustainability.
A
- Business needs Purpose than Profit to Make It Through
8
Q
focuses on issues related to human capital in the business supply chain, such as worker’s rights, working conditions, child labor, and human trafficking.
A
Social Sustainability
9
Q
Social Sustainability
A
- Business needs Purpose than Profit to Make It Through
10
Q
Incorporation of these considerations is increasing, as consumers and procurement officials demand documentation of a business’ compliance with national and international initiatives, guidelines, and standards.
A
- Business needs Purpose than Profit to Make It Through
11
Q
The starting point of great companies
A
Purpose
12
Q
What are the four main types of purposes according to Nikos Mourkogiannis?
A
- Discovery
- Excellence
- Altruism
- Heroism
13
Q
Mentions the four main types of purposes according to Nikos Mourkogiannis?
A
- What is the purpose of doing business if it is not being profitable?
14
Q
The starting point of great companies is Purpose.
A
- What is the purpose of doing business if it is not being profitable?
15
Q
has rooted in intuition that life is a kind of adventure.
A
Discovery
16
Q
The starting point of great companies is Purpose.
A
- What is the purpose of doing business if it is not being profitable?
17
Q
implies standards and purports the belief that excellent performance in our role in life represents the supreme good.
A
Excellence
18
Q
a purpose built in serving its customers in a way that is beyond standard obligation.
A
Altruism
19
Q
demonstrates achievement, often with a charismatic and visionary leader.
A
Heroism
20
Q
Discovery, Excellence, Altruism, Heroism
A
the four main types of purposes according to Nikos Mourkogiannis
- What is the purpose of doing business if it is not being profitable?
21
Q
Stand for something beyond simply increasing profits.
A
- Business with a strong sense of purpose are more successful
22
Q
A true vision for a business rests on what?
A
foundations of both purpose and values.
23
Q
A true vision for a business rests on foundations of both purpose and values
A
- Business with a strong sense of purpose are more successful
24
Q
The people within the business have to be passionate about what they do and why they do it.
A
- Business with a strong sense of purpose are more successful
25
The business goals must then align with this foundation.
5. Business with a strong sense of purpose are more successful
26
Most Filipinos are connected together with their...?
beliefs, culture, tradition, characters, traits and common values
27
are first taught at home and are adapted and implemented in the society
Values
28
plays a vital role on the way we live, decide, choose and interprets our daily activities in life
Values
29
denote the degree of importance of something or action
Values
30
it aims in determining what actions are best to do or what way is best to live, or to describe the significance of different actions.
Values
31
refer to the set of values that are significant and inclined with one’s culture
Filipino Values
32
preserves social harmony that promotes connection, unity and may understand set of people
Filipino Values
33
includes the inimitable collection of dependable philosophies, moral codes, ethical practices, etiquette, cultural and personal values encouraged by the family or the society they belong.
Filipino Values
34
The management and sustainability of the business depends in what?
on the values and beliefs of the proprietor
35
What do Filipino entrepreneurs do in terms of values?
They may implement rules, practices and principles based on their values they had grown up with their family, learnt and adapted.
36
What are The Most Popular Filipino Values that Influence Business Practices?
1. Pakikisama
2. Hospitality
3. Family Orientation
4. Joy and Humor
5. Ability to Survive
6. Hard work and Industriousness
7. Flexibility, Adaptability and Creativity
8. Utang na Loob
9. Filial Piety
10. Padrino
11. Suki
12. Bahala Na
13. Mañana
14. Amor Propio
37
comes from the word “sama” and prefix “paki”, and literally means to accompany someone.
Pakikisama
38
Fellowship
Pakikisama
39
used to maintain good relations with others, and the fellowship is associated with adaptation, dealings and harmony.
Pakikisama
40
In business practices, the proprietor must establish _____________ to their employees, suppliers and customers because it implies closeness to the others that would create a sustainable growth relationship.
Pakikisama
41
Is the relationship between a guest and a host
Hospitality
42
wherein the host receives the guest with goodwill, including the reception and entertainment of guests, visitors, or strangers.
Hospitality
43
Why should entrepreneurs master on how to treat and provide excellent services on welcoming their suppliers and customers?
to create a good reputation and relationship
44
plays the fundamental role to increase or decrease the volume of sales, popularity and production growth in a business.
Hospitality
45
refers to the family in which a person is raised. It includes one’s parents and siblings. It may also include grandparents or other relatives.
Family Orientation
46
primary platform for which one encounters early socialization experiences.
Family Orientation
47
can be learned from the family that will inculcate to a child as he/she matures into an adult.
Values and Beliefs
48
Values and beliefs can be learned from the family that will inculcate to a child as he/she matures into an adult.
Family Orientation
49
The Filipino valued their family and being closed to one another until the last of their generation
Family Orientation
50
Most of the successful entrepreneurs acquired and gained this ample knowledge in dealing with their business from their family.
Family Orientation
51
Consequently, they become well trained to manage their family business.
Family Orientation
52
Others inherit the skills not only from their family business but also the values and beliefs in managing and operating their business.
Family Orientation
53
Business operates and grow not only by means of profit and management.
Joy and Humor
54
An entrepreneur operates business to find joy and happiness in his life.
Joy and Humor
55
Helping people by promoting employment and providing quality product and services to their clients create a joyful feeling
Joy and Humor
56
Filipino values always find reason to feel joy and has a sense of humor to establish camaraderie to others.
Joy and Humor
57
It sheds light on the optimism and positivity of Filipinos in whatever situation they are in.
Joy and Humor
58
It serves as a coping technique to remain determined in every struggles or challenges in life and in business.
Joy and Humor
59
A Filipino has a sense of resourcefulness or the ability to survive with whatever situation or challenges they have.
Ability to Survive
60
They have an extraordinary ability to create something out of almost nothing.
Ability to Survive
61
If a Filipino is trapped in an uninhabited island, he would still be able to find a safe area to stay, provide materials to build a house, find foods to eat and create different tools to survive.
Ability to Survive
62
if it is needed to promote and increase the volume of sales, a Filipino has always the ability to find different techniques, marketing strategies and ideas to perform and create a product in order for the business to survive.
Ability to Survive
63
Filipinos are determined and persistent to accomplish whatever they have set in their minds. In business, hard work and industriousness play a vital role to establish and develop business progress.
Hard work and Industriousness
64
They need employees who are willing to work overtime, with minimal supervision and resourcefulness comes with a hard work to serve the business.
Hard work and Industriousness
65
A Filipino has an ability to adapt, adopt and adept in any changes and challenges in life either in spiritual, social, emotional and physical aspect.
Flexibility, Adaptability and Creativity
66
In business, unplanned and anticipated events in market would not disturb this values of Filipino entrepreneurs.
Flexibility, Adaptability and Creativity
67
Filipino entrepreneurs could easily produce creative strategy, technique and style to adjust to challenges and compete with others.
Flexibility, Adaptability and Creativity
68
Debt of Gratitude
Utang na Loob
69
It shows duties and responsibility to pay the debts and return it with inner-self-free will the unsolicited gift or good treatment received from other people.
Utang na Loob
70
In business, there are plenty of reasons that may influence the business practices, either positive or negative outcome that may vary with ethical issues.
Utang na Loob
71
An obligation to appropriately repay the good deeds which value is impossible to quantify
Utang na Loob
72
if there is a quantifiable value it may involve deeply personal internal dimension that will usually start from one generation and continue to another generation.
Utang na Loob
73
To show respect, love, care and support to their elders, parents, relatives and ancestors.
Filial Piety
74
It upholds the affection and display courtesy to the family that most cases are likely working together in one company; living together in one house; paying the house bills of their parents.
Filial Piety
75
It also takes good care of one’s parents and engage in good conduct not just towards parents but also outside the home so as to bring a good name to one’s parents and ancestors.
Filial Piety
76
Whom you know system
Padrino
77
It supports with the strong relationship of people.
Padrino
78
Most of the job seekers automatically hired regardless of their qualifications and educational background through endorsements, political connections, family affiliations, or friendships
Padrino
79
When you are hired through connections such as family affiliations
Nepotism
80
When you are hired through connections such as family affiliations
Nepotism
81
When you are hired through connections such as friendships
Cronyism
82
It shows loyalty and trust relationship between a customer and supplier.
Suki
83
It usually establishes at the market or business.
Suki
84
If a buyer finds a trusted seller that offers a quality product they need, the loyalty and commercial connection of a buyer will be established to the seller and made several business transactions with these type of customers
Suki
85
Filipino values that shows letting things happen beyond their control.
Bahala Na
86
It shows an attitude of a person that is willing to submit everything to God or leaving things to happen by fate.
Bahala Na
87
Some of investors operate business beyond their control.
Bahala Na
88
They will only believe that the market will accept it if they will “do their best and let God do the rest.”
Bahala Na
89
Mañana
90
What does Mañana mean?
A Spanish word which literally means “tomorrow” or “unspecified future time”.
91
a Spanish word which means “self – love”,
Amor Propio
92
a sense of self-esteem or self-respect that prevents a person from swallowing his pride and concerned for one’s reputation.
Amor Propio
93
It includes sensitivity to personal insult or affront.
Amor Propio
