Lesson 4

Question 1

a method , procedure, process or
rule employed or followed by a
company in the pursuit of its
objectives.

Answer 1

BUSINESS PRACTICE

Question 2

different types of common
practices in a business organization:

Answer 2

DECORUM
PROTOCOL
POLICIES
ADVERTISING
MARKETING
BOOKKEEPING
REPORTORIAL REQUIREMENTS
DOCUMENTATION

Question 3

means “what is proper.”

requires a sense of dignity.

is “Business Etiquette.”

Answer 3

DECORUM

Question 4

Unwritten rules or guidelines that are peculiar to every culture or organization, and are supposed to be observed by all parties in the conduct of business, entertaining, negotiating, politics, etc.

Answer 4

PROTOCOL

Question 5

TYPES OF PROTOCOL:

Answer 5

The Basic Protocol
Training in Protocol
Benefit Protocol
International Business Protocol

Question 6

This encourage employees in a company to act in a uniform
manner. Understand their role in the company, the task and challenges they face and how to execute them as quickly and accurate as possible.

Answer 6

The Basic Protocol

Question 7

This help bridge economic , cultural, knowledge and language gap.

Answer 7

Training in Protocol

Question 8

This will able to make informed decision about whether the company is right for them.

Answer 8

Benefit Protocol

Question 9

This is to have some knowledge about the rules and behaviors that are considered acceptable in social and professional relationship when doing business in a foreign country.

Answer 9

International Business Protocol

Question 10

Example of Protocols in Philippines Business:

Answer 10

Filipino Family- Modeled Business

Business is Personal

Status- Consciousness

Politeness and Ambiguity

Question 11

Scope or spheres within which decisions can
be taken by the subordinates in an organization

Guidelines to developed by an organization to
governs its action

Answer 11

POLICIES

Question 12

Features of Business Policy:

Answer 12

Specific

Clear

Reliable/Uniform

Appropriate

Simple

Inclusive/Comprehensive

Flexible

Stable

Question 13

Difference of POLICY in strategy:

Answer 13

Blueprint of the organizational
activities which is repetitive in
nature.

Formulation is responsibility of
top level management.

Deals with the routine activities
essential for the effective and
running of business.

Concern with both thoughts and
action.

Is what is or what is not done.

Question 14

Difference of STRATEGY in Policy:

Answer 14

Organizational decisions which
have not been dealt or faced.

Formulation is done by middle-
level management.

Deals with strategic decisions.

Concern mostly in action.

A methodology used to achieve
a target.

Question 15

How company encourages people to buy their products, services, or ideas

Answer 15

ADVERTISING

Question 16

give advertising tactics that you can use:

Answer 16

Newspaper

Magazine

Radio

Television

Directories

Outdoor and Transit

Direct Mails, Catalogs amd Leaflets

Online

Question 17

Process of product development
as well as sales, promotion, and distribution.

Answer 17

MARKETING

Question 18

Process of recording all financial transactions to keep track of cash flow

Answer 18

BOOKKEEPING

Question 19

is an accounting system
under which every transaction is recorded in a single line
only.

Answer 19

Single- Entry Bookkeeping

Question 20

is a kind of accounting
system governed by certain rules which ensure that each
transaction that take place is reflected in two separate
account.

Answer 20

Double- Entry Bookkeeping

Question 21

Public reporting of operating and financial data by a business enterprise

Answer 21

REPORTORIAL REQUIREMENTS

Question 22

Kinds of report that are usually required by the government

Answer 22

Annual Report - Usually includes the following

General Corporation Information

Accounting Policies

Balance Sheet

Cash Flow Statement

Non-Audited Information

Profit and Loss Account

Notes to the Financial Statement

Chairperson’s Statement

Director’s Report

Operating and Financial Review

Other’s Features

Auditor’s Report

Question 23

is a formal record of the financial
activities and position of a business, person and other entity.

Answer 23

Financial Statement or Financial Report

Question 24

Example of financial report:

Answer 24

Balance Sheet, Income Statement, Statement in Changes in Equity and Cashflow.

Question 25

Processes and items which serve
as evidence for the validity or truth of a certain claim or statement

Answer 25

DOCUMENTATION

Question 26

Sets out the company’s values, ethics, objective, and responsibilities.

Without it how can the manager
know what the company considers ethical or unethical

Answer 26

CODE OF ETHICS–