Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Ethics > Pre-Finals Set A > Flashcards

Pre-Finals Set A Flashcards

1
Q

must earn profits for its own survival, for expansion, for bearing the risks and finally for the
prestige of its management

A

Enterprise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

is a means and not an end.

A

Profit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

TRUE OR FALSE:

profit can be the sole objective of the entrepreneur.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

TRUE OR FALSE

profit cannot be the sole objective of the entrepreneur.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

The ultimate objective of every enterprise

A

to be the good of the people.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

what was the traditional view of social responsibility?

A

organizations existed solely to serve the interests of one stakeholder group: STOCKHOLDER.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

The modern view of social responsibility considers the state of the various stakeholders:

A
  1. Employees
  2. Stockholders
  3. Suppliers
  4. Customers
  5. Government
  6. Trade Associations and Competitors
  7. Community
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Management, as a part of its social responsibilities, is expected to provide for their social security, welfare, and sharing of excess profits.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO EMPLOYEES

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

is expected to provide for their social security, welfare, and sharing of excess profits.

A

Management

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

An entrepreneur must provide safe, fair adequate and stable long-run rate of return and steady capital appreciation to the shareholders for their investments.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO STOCKHOLDERS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Dealings with the suppliers should be based on?

A

integrity, impartiality and courtesy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Terms and conditions regarding delivery of goods and payment of prices must be reasonably fair.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO SUPPLIERS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Producers may make available to the suppliers the benefits of their information and research so as to promote indigenous growth or for the improvement of the quality of their products.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO SUPPLIERS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Entrepreneurial ventures must meet the requirements of the customers of different classes, tastes and with different purchasing power at the right time, place, and price and in right quality.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO CUSTOMERS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

An entrepreneur should act as a what to the customer?

A

friend and guide

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What should an entrepreneur do to the customers?

A
  • He must try to protect consumers’ interest at all costs.
  • He must guard against adulteration, poor quality, lack of service and courtesy to the consumer, misleading and dishonest advertisement, underweighting, supply of stale goods, etc.
  • He must handle the complaints of the customers carefully and efficiently and cooperate to the maximum extent with the consumers associations.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Entrepreneurs must abide by the laws of the country in their true spirit.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO THE GOVERNMENT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What should entrepreneurs do to the government?

A
  • They must conduct their affairs as may cause the minimum possible social damage such as air or water pollution.
  • They must pay taxes honestly and promptly.
19
Q

An entrepreneur should develop what inter-business relationships with fellow-entrepreneurs?

A

a healthy relationship

20
Q

He must adopt fair trade practices regarding prices, quality, terms and conditions of sale and after-sales service.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO TRADE ASSOCIATIONS AND COMPETITORS

21
Q

The entrepreneurs should manage their business with such competence and skill that it inspires confidence and pride in the mind of the people.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO THE COMMUNITY

22
Q

Enterprise, on the whole, should act on the ideas of social justice without discrimination of any kind.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO THE COMMUNITY

23
Q

Business must set high standards of morality and put in all efforts to minimize social damage.

A

SOCIAL RESPONSIBILITIES OF ENTREPRENEURS TO THE COMMUNITY

24
Q

How can a business minimize social damage?

A

set high standards of morality

25
Q

is a problem, situation, or opportunity that requires an individual, group, or organization to choose among several actions that must be evaluated as right or wrong, ethical or unethical.

A

ethical issue

26
Q

What are the major ethical issues in business?

A
  1. Misuse of company time and resources
  2. Abusive or intimidating behaviour
  3. Conflict of interest
  4. Sexual harassment
  5. Fraud
  6. Privacy issues
27
Q

is a major form of observed misconduct in organizations.

A

Misuse of company time and resources

28
Q

can mean anything from physical threats, false accusations, annoying behavior, profanity, insults, yelling, harshness, ignoring someone, or even unreasonableness.

A

abusive or intimidating behaviour

29
Q

a common ethical problem for employees.

A

Abusive or intimidating behaviour

30
Q

What are forms of Abusive or intimidating behaviour ?

A
  • Physical Threats
  • False accusations
  • Annoying behavior
  • Yelling and profanities
  • Insults and Harshness
  • Ignoring someone
  • Unreasonableness
31
Q

exists when an individual must choose whether to advance his or her own interests, those of the organization, or those of some other group.

A

Conflict of interest

32
Q

defined as a repeated, unwanted behavior of a sexual nature perpetrated upon one individual by another.

A

Sexual Harassment

33
Q

What republic act is violated by sexual harassment?

A

Republic Act 11313 or the “Safe Spaces Act”.

34
Q

is any purposeful communication that deceives, manipulates, or conceals facts in order to harm others.

A

Fraud

35
Q

a crime that can result in fines and/or imprisonment.

A

Fraud

36
Q

the types of fraud in business

A

1.Accounting fraud
2. Marketing fraud
3. Consumer fraud

37
Q

usually involves falsifying information about a corporation’s financial reports,

A

Accounting Fraud

38
Q

provide important information about the financial health of the company to investors and other stakeholder groups.

A

Financial Reports

39
Q

the process of dishonestly creating, distributing, promoting, and pricing products.

A

Marketing Fraud

40
Q

occurs when consumers attempt to deceive businesses for their own gain.

A

Consumer Fraud

41
Q

How can consumers commit fraud?

A
  • stealing from stores
  • price tag switching
  • lying to obtain discounts.
42
Q

employers must balance such interests with the interests of their employees to maintain a degree of privacy.

A

Privacy Issues

43
Q

employers generally possess a significant degree of latitude with regard to maintaining the integrity of company products, monitoring productivity, and ensuring a safe worksite

A

Privacy Issues

44
Q

What law seeks to protect all forms of information, be it private, personal, or sensitive.

A

Republic Act No. 10173 or Data Privacy Act

Business Ethics (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions