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Business Ethics > Lesson 4 (Group 1 Reporting) > Flashcards

Lesson 4 (Group 1 Reporting) Flashcards

1
Q

Principles of Business Ethics:

A

Decorum
Protocol
Protocol
Advertising
Marketing
Bookkeeping
Reportorial
Requirements
Documentation

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2
Q

Also known as business etiquette.
Set of behaviors and manners.

A

Decorum

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3
Q

A system of rules that
explain the correct
conduct and procedures
to be followed in formal
situations.

A

Protocol

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4
Q

typically outlines a
specific course of action
designed to further the
general goals of the group.

A

Policies

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5
Q

process of delivering
a message about
ideas, goods, and
services, through the
media, paid by an
individual sponsor.

A

Advertising

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6
Q

refers to activities
a company undertakes to
promote the buying or
selling of a product or service.

A

Marketing

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7
Q

Process of
keeping track of
a business’s
financial
transactions.

A

Bookkeeping

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8
Q

a document that outlines
the necessary elements of a
project or system.

A

Reportorial
Requirements

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9
Q

involves the systematic
interaction of people,
events, and documents to
create a record of an
organization, including
evidence of documents.

A

Documentation

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10
Q

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

A

Decorum

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11
Q

Types of Business Etiquette:

A
  1. Workplace etiquette
  2. Table manners and meal etiquette
  3. Professionalism
  4. Communication etiquette
  5. Meetings etiquette
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12
Q

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.

A

Protocol

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13
Q

Examples of Protocols in Philippine Business:

A

Filipino family-modeled business

Business is personal

Status-consciousness

Politeness and ambiguity

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14
Q

Importance of Observing
Protocol:

A

Professionalism
Cultural Sensitivity
Establishing Credibility
Conflict Prevention
Legal and Regulatory Compliance
Brand Image

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15
Q

play a crucial role in shaping the
way organizations operate.

set of guidelines and principles that govern decision-
making and actions within a company.

A

Policies

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16
Q

These policies cover a wide
range of areas, including but not limited to:

A

human resources,
finance,
operations,
marketing,
information technology.

17
Q

is any form of paid non-personal presentation of ideas,
goods, or services for the purpose of including people to
buy.

A

Advertising

18
Q

The word advertising is derived from the Latin words “Ad” and “Verto”

A

Ad means “towards” and Verto means “I turn”

19
Q

Types of Advertising:

A
  1. Print Advertising
  2. Outdoor Advertising
  3. Broadcast Advertising
  4. Celebrity Advertising
20
Q

Importance of Advertising:

A

Build Awareness
Educate Consumers
Boost Your Reputation
Acquire New Customers
Retain Existing Customers

21
Q

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

A

Marketing

22
Q

4 P’s in Marketing:

A

Product
Price
Place
Promotion

23
Q

is one of the most crucial principles of marketing. The product can either be a service you provide or goods

A

Product

24
Q

is the amount that consumers will be willing to pay for a product

A

Price

25
Q

This is where your products or services are available
to the customer, whether this is a shop or an online
website, or both

A

Place

26
Q

This involves raising awareness about your company, brand, products or services offered

A

Promotion

27
Q

the process of recording all financial transactions to keep track of the cash flow.

A

Bookkeeping

28
Q

Methods of Bookeeping

A

Single-entry bookkeeping
Double-entry bookkeeping

29
Q

It is a simple and straightforward method

A

It is a simple and straightforward method

30
Q

An entry is recorded in at least two
accounts as a debit or credit.

A

Double-entry bookkeeping

31
Q

Reason Why Bookkeeping is
Important:

A

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

32
Q

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.

A

Reportorial Requirements

33
Q

is a written or electronic description of a product or service,
aiding end users in understanding its characteristics and
attributes.

A

Documentation

34
Q

Benefits of Documentation:

A

Improve quality and process control
Eliminate duplicative work
Meets compliance regulations

35
Q

Why Is Code of Ethics Important?

A

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.

36
Q

Example of code of ethics:

A

Follow the Law

Handling Regulatory Issues

Value Based Ethics

Professionalism Defined

When Actions Seem Wrong

Business Ethics (6 decks)

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