Lesson 4 (Group 1 Reporting) Flashcards
Principles of Business Ethics:
Decorum
Protocol
Protocol
Advertising
Marketing
Bookkeeping
Reportorial
Requirements
Documentation
Also known as business etiquette.
Set of behaviors and manners.
Decorum
A system of rules that
explain the correct
conduct and procedures
to be followed in formal
situations.
Protocol
typically outlines a
specific course of action
designed to further the
general goals of the group.
Policies
process of delivering
a message about
ideas, goods, and
services, through the
media, paid by an
individual sponsor.
Advertising
refers to activities
a company undertakes to
promote the buying or
selling of a product or service.
Marketing
Process of
keeping track of
a business’s
financial
transactions.
Bookkeeping
a document that outlines
the necessary elements of a
project or system.
Reportorial
Requirements
involves the systematic
interaction of people,
events, and documents to
create a record of an
organization, including
evidence of documents.
Documentation
This is behavior that people consider to be correct, polite,
and respectable.
Also Known As Business Etiquette, refers to the
requirements and expectations of social and business
behavior
Decorum
Types of Business Etiquette:
- Workplace etiquette
- Table manners and meal etiquette
- Professionalism
- Communication etiquette
- Meetings etiquette
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
Examples of Protocols in Philippine Business:
Filipino family-modeled business
Business is personal
Status-consciousness
Politeness and ambiguity
Importance of Observing
Protocol:
Professionalism
Cultural Sensitivity
Establishing Credibility
Conflict Prevention
Legal and Regulatory Compliance
Brand Image
play a crucial role in shaping the
way organizations operate.
set of guidelines and principles that govern decision-
making and actions within a company.
Policies
These policies cover a wide
range of areas, including but not limited to:
human resources,
finance,
operations,
marketing,
information technology.
is any form of paid non-personal presentation of ideas,
goods, or services for the purpose of including people to
buy.
Advertising
The word advertising is derived from the Latin words “Ad” and “Verto”
Ad means “towards” and Verto means “I turn”
Types of Advertising:
- Print Advertising
- Outdoor Advertising
- Broadcast Advertising
- Celebrity Advertising
Importance of Advertising:
Build Awareness
Educate Consumers
Boost Your Reputation
Acquire New Customers
Retain Existing Customers
refers to activities a company undertakes to promote the buying or selling of a product or service.’
includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company
Marketing
4 P’s in Marketing:
Product
Price
Place
Promotion
is one of the most crucial principles of marketing. The product can either be a service you provide or goods
Product
is the amount that consumers will be willing to pay for a product
Price
This is where your products or services are available
to the customer, whether this is a shop or an online
website, or both
Place
This involves raising awareness about your company, brand, products or services offered
Promotion
the process of recording all financial transactions to keep track of the cash flow.
Bookkeeping
Methods of Bookeeping
Single-entry bookkeeping
Double-entry bookkeeping
It is a simple and straightforward method
It is a simple and straightforward method
An entry is recorded in at least two
accounts as a debit or credit.
Double-entry bookkeeping
Reason Why Bookkeeping is
Important:
Helps You Budget Accurately
Keeps You Prepared for Tax
Maintains Organised Records
Easier to See Business Targets
Meeting Government Regulations
Gives You Extra Peace of Mind
You Learn in the Process
Also known as reporting requirements, are information
and data that companies must supply to government
agencies. All insurance companies of a certain size must
adhere to reporting requirements.
Reportorial Requirements
is a written or electronic description of a product or service,
aiding end users in understanding its characteristics and
attributes.
Documentation
Benefits of Documentation:
Improve quality and process control
Eliminate duplicative work
Meets compliance regulations
Why Is Code of Ethics Important?
The code of ethics is important since it will serve as a set of rules for each
and every individual working for that company. The presence of a code of
ethics appears to provide a calm and organized work environment. They
are aware of appropriate behavior and actions within the organization.
A company code of ethics outlines the company’s mission, values and core
values. It gives employees a clear understanding of what the rules are, from a legal and law-enforcement perspective, and how to navigate the
ambiguities that come with value-based ethics.
Example of code of ethics:
Follow the Law
Handling Regulatory Issues
Value Based Ethics
Professionalism Defined
When Actions Seem Wrong
