Lesson 4 Flashcards
a method , procedure, process or
rule employed or followed by a
company in the pursuit of its
objectives.
BUSINESS PRACTICE
different types of common
practices in a business organization:
DECORUM
PROTOCOL
POLICIES
ADVERTISING
MARKETING
BOOKKEEPING
REPORTORIAL REQUIREMENTS
DOCUMENTATION
means “what is proper.”
requires a sense of dignity.
is “Business Etiquette.”
DECORUM
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.
PROTOCOL
TYPES OF PROTOCOL:
The Basic Protocol
Training in Protocol
Benefit Protocol
International Business Protocol
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.
The Basic Protocol
This help bridge economic , cultural, knowledge and language gap.
Training in Protocol
This will able to make informed decision about whether the company is right for them.
Benefit Protocol
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.
International Business Protocol
Example of Protocols in Philippines Business:
Filipino Family- Modeled Business
Business is Personal
Status- Consciousness
Politeness and Ambiguity
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
POLICIES
Features of Business Policy:
Specific
Clear
Reliable/Uniform
Appropriate
Simple
Inclusive/Comprehensive
Flexible
Stable
Difference of POLICY in strategy:
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.
Difference of STRATEGY in Policy:
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.
How company encourages people to buy their products, services, or ideas
ADVERTISING
give advertising tactics that you can use:
Newspaper
Magazine
Radio
Television
Directories
Outdoor and Transit
Direct Mails, Catalogs amd Leaflets
Online
Process of product development
as well as sales, promotion, and distribution.
MARKETING
Process of recording all financial transactions to keep track of cash flow
BOOKKEEPING
is an accounting system
under which every transaction is recorded in a single line
only.
Single- Entry Bookkeeping
is a kind of accounting
system governed by certain rules which ensure that each
transaction that take place is reflected in two separate
account.
Double- Entry Bookkeeping
Public reporting of operating and financial data by a business enterprise
REPORTORIAL REQUIREMENTS
Kinds of report that are usually required by the government
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
is a formal record of the financial
activities and position of a business, person and other entity.
Financial Statement or Financial Report
Example of financial report:
Balance Sheet, Income Statement, Statement in Changes in Equity and Cashflow.
Processes and items which serve
as evidence for the validity or truth of a certain claim or statement
DOCUMENTATION
Sets out the company’s values, ethics, objective, and responsibilities.
Without it how can the manager
know what the company considers ethical or unethical
CODE OF ETHICS–
