Role Of Business In Social And Ecomonic Development Flashcards

1
Q

What is Business?

A

A business is an organization or economic system where goods and services are exchange for one another or for money

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2
Q

Sole proprietorship

A

Also known as a soul trader is owned by one person and operates for their benefit

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3
Q

Partnership

A

It is a business owned by two or more people

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4
Q

Corporation

A

The owners of a corporation have limited liability and the businesses separate legal personality from its owners.

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5
Q

Cooperative

A

Often referred to as a coop a cooperative is a limited liability business that can organize for profit or non-profit

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6
Q

Service Business

A

A service type of business provides intangible products(no physical form)

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7
Q

Financial Business

A

Include banks and other companies that generate profits to investment and management of capital

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8
Q

Transportation Business

A

Deliver goods and individuals through destinations for a fee

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9
Q

Utilities

A

Produce public services such as electricity or sewage treatment usually under government

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10
Q

Merchandising businesses

A

This type of business buys products at who sale price and sells the same at retail price

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11
Q

Retailers and Distributors

A

Act as the middle man and get goods produced by manufacturers to the intended customers

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12
Q

Manufacturing Business

A

I like a merchandising business a manufacturing business buys products with the intention of using them as materials in making a new product

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13
Q

Agriculture and Mining Business

A

Produce raw materials such as plants or minerals

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14
Q

Manufacturer

A

Produce products either from raw materials or from component parts essential products at the profit for example cars clothing and or pipes

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15
Q

Real-estate business

A

Cell rent and develop properties including land residential homes and other buildings

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16
Q

Fairness

A

Refers to level of even handedness in dispensing justice for work claims are recognized in the order for the illegal and contractual priority

17
Q

Justice

A

Means giving each person what he or she deserves or in more traditional terms giving each person his or her due

18
Q

Principles of Justice

A

Individual should be treated the same unless they different ways that are relevant to the situation in which they are involved

19
Q

Distributive justice

A

Refers to the extent to which societies institutions ensure that benefits and burdens are distributed among societies members in ways that are fair and just

20
Q

Retributive are corrective justice

A

Refers to the extent to which punishments are fair and just

21
Q

Compensatory justice

A

Refers to the extent to which people are fairly compensated for their injuries by those who have injured them

22
Q

Accountability

A

The obligation of an individual or organization to account for its activities accept responsibility for them and to disclose results in a transparent manner

23
Q

Corporate accountability

A

Refers to the act of being accountable to the stakeholders of an organization

24
Q

Transparency

A

Refers to lack of hidden agendas and conditions accompanied by the availability of full information required for collaboration

25
Corporate transparency
Describes the extent to which a corporation's actions are observable by outsiders
26
Stewardship
Originally made up of the task of a domestic steward stig-weard
27
Business Practice
Is a method procedure process or rule employed or followed by a company in the pursuit of its objectives
28
Decorum
A behavior that is socially correct calm and polite
29
Protocol
The unwritten rules or guidelines that are peculiar to every culture organization in our supposed to be observed for all products in the conduct of business
30
Examples of protocols in the philippine business
Filipino family model businesses businesses personal status consciousness politeness and ambiguity
31
Policies
Defines the scope or spheres within which decisions can be taken by the subordinates in an organization
32
Features of business policy
Specific Clear Reliable or uniform Appropriate Simple Inclusive or comprehensive Flexible Stable
33
Advertising
How a company encourages people to buy their product services or ideas
34
Marketing
The process of product development as well as sales promotion and distribution
35
Bookkeeping
Accounting simply put escaping track of money
36
Reportorial requirements
Business reporting or enterprise reporting is the public reporting of operating in financial data by a business enterprise
37
Annual report
A comprehensive report on a company's activities throughout the preceding year
38
Financial Statement
Also known as a financial report it is a formal record of the financial activities and position of the business person or other entity
39
Documentation
Refers to the process and items which serve as evidence for the validity or truth of a certain claim or statement