LONGTEST Flashcards
FORMS OF BS
Sole Proprietorship
Partnerships
Corporation
Cooperative
“single proprietorship”
business owned by only one person
business & owner is inseparable
regulated by DTI (department of trade adn industry)
Sole proprietorship
owned by 2 or more person
regulated ny DTI
Partnerships
detailed of arrangement between partners are outlined in a written document called
Articles of Partnership
A business organized as a separate legal entity
owners are called stockholders/shareholders
Regulated by SEC (Securities & Exchange Commission)
Corporation
owned by a group of individuals & is operated for their MUTUAL BENEFIT
MEMBERS are expected to patronized their products & services
regulated by CDA (Cooperative Development Authority)
Cooperative
Core Principles of Business
Fairness
Accountability
Transparency
Stewardship
state, condition, quality of being FAIR, FREE FROM BIAS/INJUSTICE (EQUAL TREATMENT)
Fairness
2 ASPECTS OF FAIRNESS
Substantive Fairness
Procedural Fairness
fair result is one in which people receive what they’re DUE & DESERVE
they are NO AGREED CRITERIA to determine what a person really OUGHT TO HAVE
Substantive Fairness
DECISION SHOULD BE MADE, and should APPEAR TO BE MADE
CAUTIOUSLY, TRUTHFULLY & OBJECTIVELY
with the knowledge that even a PROCESS OF GREATEST INTEGRITY does not always produce CERTAINTY
Procedural Fairness
means being RESPONSIBLE for DECISIONS MADE, ACTIONS TAKEN & ASSIGNMENTS COMPLETED
Accountability
quality of being done in an OPEN WAY, WITHOUT SECRET
Transparency
responsibility that companies have to understand & manage their impacts on the ENVIRONMENT
Stewardship
how to deal w workplace issues
FAIR NOTICE
IMPARTIALITY
GATHER FACTS
FAIR HEARING
EVALUATION
princi that individuals/entities should be ADEQUATELY INFORMED/NOTIFIED of the rules, regulations , policies / actions that may affect them
FAIR NOTICE
quality or state of being fair unbiased & neutral in judgement/decision making without favoritism/prejudice towards any particular person group/interest
Impartiality
Thoroughness without being irrational is important in making sound judgements
Gather Facts
anyone being accused of sometime should be allowed to tell his/her side of story
“RIGHT OF CONFRONTATION”
anyone should be given the OPPORTUNITY to explain, clarify, ask questions
must listen with a truly open mind
Fair hearing
carefully WEIGH & EVALUATE all information by SEPARATING FACTS from OPINIONS to OPINIONS from SPECULATION
Evaluation
established procedures one follows to execute task
set of rules, procedures & conventions that govern behavior & interactions in formal or DIPLOMATIC CONTEXT
Protocol
association w maintaining PROPER CONDUCT according to SOCIETAL NORMS & EXPECTATIONS
browd range of behaviors such as POLITENESS, COURTESY, TACT, & CONSIDERATION FOR OTHERS
Decorum
often BROAD IN SCOPE & may encompass multiple areas of activity WITHIN ORGANIZATION
states business / company’s intentions to meet an end goal
Policy
Important points to consider in making an effective business policy
Balance
Equal Opportunity
Employee’s Job Description
Liability
Employee Conduct
Consequences of Violation
encourages individuals PRODUCTIVITY without MICROMANAGING them
Balance
CLEAR in ANY RULES, PROMOTE fair treatment in workplace,
IMPLEMENT equal opportunity, anti discrimination
ex: encourage unprejudiced behavior within workplace
Equal Opportunity
including a DESCRIPTION of every position from HIGHEST RANKING DOWN to RANKED IN FILE
employees must understand their ROLES, DUTIES & RESPONSIBILITIES & how will they interact within organization
Employee’s Job Description
All Employees must understand ACCEPTABLE BEHAVIOR, BOUNDARIES at WORK
when employee misbehave, employer is liable
Liability
in place as a guidelines for appropriate employee behavior such us PROPER DRESS CODE, WORKPLACE SAFETY PROCEDURES, HARASSMENT POLICIES & POLICIES regarding COMPUTER & INTERNET
Employee Conduct
mist establish rules rhat address violations from the policy
Consequences for Violation
process or technique of promoting, selling, & distributing a product/service
Marketing
recording of financial transactions & part of the process of accounting
transactions include purchases sales, receipts, & payments by an individual person or an organization/corporation
Bookkeeping
invariably linked to an organization’s official business & maintained as evidence or supporting documents
anu recorded information or data in any physical format / media created or received by an organization
Records
whole range of activities which an organization should perform to properly manage its records
Record Management
Characteristics of a record
Authenticity
Reliability
Integrity
Usability
one that can be PROVEN (purported)
Authenticity
one whoce content can be TRUSTED as FULL & ACCURATE
Reliability
its being complete & unaltered
Integrity
one can be LOCATED, RETRIEVED, PRESENTED & INTERPRETED anytime
Usability
Importance of the Record
Administrative Value
Operational Value
Legal Value
Fiscal Value
Archival Value
helps determine the POLICY & PROCEDURES such as procedure directives, rules & regulations
Administrative Value
documenting ACTIVITIES & TRANSACTIONS
ex. correspondence routine & technical data
Operational Value
define the rights & obligations of an organization
ex. Agreements, Certificate, Contract
Legal value
Relating to the financial transactions of an organization
ex. Loans,
Fiscal Value
PRESERVED PERMANENTLY
Archival Value
