Chapter 6 Flashcards
(158 cards)
1
Q
is a productive human activity that brings beneficial contribution to both people and society.
A
Business
2
Q
produces employment, fair deals, creativity, advancement of technology, customers’ satisfaction.
A
Business
3
Q
is also an activity that provides an opportunity for some unscrupulous people to take advantage of others, the abuse of fiduciary relationship between employers and employees and between buyers and sellers.
A
Business
4
Q
is an issue in the corporate world that must be looked into because it can create a hostile and unhealthy workplace for the employees.
A
Sexual harassment
5
Q
the Congress of the Philippines enacted the
_____________ or ___________ declaring sexual harassment unlawful in the employment, education or training environment, and other purposes.
A
Anti-Sexual Act of 1995 or R.A. 7877
6
Q
defines sexual harassment as, “Employer, employee, manager, supervisor, agent of the employer, teacher, instructor, professor, coach, Trainor or any other person who, having authority, influence
or moral ascendancy over another in a work or training or education environment demands, request or otherwise requires any sexual favor from the other, regardless of whether the demand, request, or requirement for submission is accepted by the object of said act.”
A
Republic Act No. 7877
7
Q
Legal Penalties of R.A. 7877
A
- Imprisonment of not less than one month but not more than six months
- Fine of not less than P 10,000 but not more than P 20,000
8
Q
- Imprisonment of not less than _______ but not more than ____________
A
one month
six months
9
Q
- Fine of not less than __________ but not more than _________
A
P 10,000
P 20,000
10
Q
Two Types of Sexual Harassment
A
- “Quid Pro Quo” Harassment
- A harassment that creates a hostile environment
11
Q
means “This for That” (something for something)
A
“Quid Pro Quo”
12
Q
is defined as requiring a sexual favor or interaction as a condition of employment or in exchange for an employment
benefit (such as promotion, transfer, pay raise and the like).
A
“Quid Pro Quo”
13
Q
In this environment, abuses include verbal, physical and
visual conducts that create an intimidating, offensive or hostile environment in the workplace that interferes
with work performance.
A
A harassment that creates a hostile environment
14
Q
Some examples are as follows:
A
- Unwanted touching, patting, pinching against a person
- Comments about your body, wolf-whistling
- Workplace blackmails
- Green jokes
- Suggestive look
15
Q
- The Problem of Just Wage
A
- Work
- Compensation
16
Q
Is said to be for the purpose of obtaining economic gain for the labor.
A
Work
17
Q
is directed to the promotion of life. – The duty to preserve one’s life implies the duty to work and that each has a personal duty to take care of himself and not to be a burden to other.
A
Work
18
Q
Being compensated for a work done or for services rendered is the very essence of ‘______’.
A
Work
19
Q
One is willing to work in exchange for remuneration or rewards he will receive from working.
A
Compensation
20
Q
Such remuneration may include both financial and non-financial compensation.
A
Compensation
21
Q
It can be in the form of wages, shares on profits, harvest or commercial goods, in-kind payments and other remunerative fringe benefits.
A
Compensation
22
Q
________ is to create a system of reward that is equitable to the
employer and employee. Thus, the general concern is that ______ should be a substance of compensation.
A
Compensation
justice
23
Q
The Question of Just Wage
A
A number of people all over the world commented on its definition and have argued on the appropriate criteria to consider in setting the so-called ‘Just Wage’.
A just wage is defined as the remuneration which is enough to support the wage-earner is reasonable and frugal comfort.
The Catholic Church tells us, “a just wage is the legitimate fruit of labor.”
24
Q
A number of people all over the world commented on its definition and have argued on the appropriate criteria to consider in setting the so-called ‘________’.
A
Just Wage
25
A __________ is defined as the remuneration which is enough to support the wage-earner is reasonable and frugal comfort.
just wage
26
The Catholic Church tells us, “____________________.”
a just wage is the legitimate fruit of labor
27
Factors to consider in Formulation of Fair Wages
1. External Market Factor
2. Laws and Regulations
3. Cost of Living
4. Prevailing Industry Rate
5. Organizational Factor
6. Job factor
7. Individual Performance
28
These refers to the supply and demand for labor and the so-called economic and underemployment.
External Market Factor
29
Workers should be paid in accordance with laws regulations issued by the government. It requires that employers pay at least the minimum wage.
Laws and Regulations
30
relates to basic maintenance needs and it must be seriously considered in formulation of wages. A fair wage should be sufficient to meet the increase in cost of living.
Cost of Living
31
Some claim that paying workers the average of what other companies is paying for the same job result in fair wage. However not all the companies have a minimum wage high enough to maintain a decent standard of living.
Prevailing Industry Rate
32
Assessment of what type of industry the organization operates, the size of the company, and the organization’s profitability to justify its ability to provide fair wages to its workers should be considered.
Organizational Factor
33
The nature of the job itself entails the formulation of a just wage. Duties, responsibilities, and the skills requirements of the job are probably the most considerable determinants of fair wage.
Job factor
34
The trend is that individual performance or productivity ratings affects the determination of wage/ salary increases.
Individual Performance
35
Some Issues on Just Wage
The minimum wage mandated by the government is not a guarantee of a just and fair wage.
Organizations and businesses usually conclude that they are legally and morally right when they fulfill their mutual agreement with the employees.
Geographical difference hinder the formulation of a perfectly common definition of fair wage. Some communities have a higher cost of living than others.
Wage indexation to cost of living, where wage is automatically adjusted with the increases of cost of living, is not usually met by majority of the employers.
Companies have different interpretations of the justifiable pay for certain job position, skills, and tasks. Thus, the prevailing rate in industry alone could not perfectly establish a just wage.
36
The minimum wage mandated by the government is not a ________
of a ______ and _______
guarantee
just
fair wage.
37
Organizations and businesses usually conclude that they are _____and _________ when they fulfill their ___________ with the ___________.
legally
morally right
mutual agreement
employees
38
_________________ hinder the formulation of a perfectly common definition of _________. Some communities have a ___________ than others.
Geographical difference
fair wage
higher cost of living
39
_____________ to __________, where ________is automatically adjusted with the increases of ____________, is not usually met by majority of the employers.
Wage indexation
cost of living
wage
cost of living
40
Companies have different interpretations of the ___________ for certain job position, skills, and tasks. Thus, the ___________ in industry alone could not perfectly establish a just wage.
justifiable pay
prevailing rate
41
is merely an act of extending goodwill to an individual in an effort to share something with them.
Gift-giving
42
Giving gifts to customers, clients and business partners is a ____________ in the ______________.
common practice
business community
43
Reasons why business usually engage in gift-giving
* show appreciation for a favor received
* To effectively establish goodwill with business partners.
* To advertise.
* To compete effectively against competitors
44
The following are the common forms of Gift-Giving
* Samples
* Rebates / cash refund
* Premiums
* Patronage awards rewards)
* Tie-up promotions
* Free goods
* Raffle coupons / certificates
* Padding expense accounts
* Prizes
* Allowance
* Tips
45
Factors in Determining the Morality of Gift-Giving
* Value of the Gift
* Purpose of the Gift
* Circumstances under Which the Gift was Given or Received
* Position between or Relationship of the Giver and the Receiver
* Acceptable Business Practice in the Industry
* Company Policy
* Laws and Regulations
46
Is Gift-Giving Ethical or Unethical?
Business gift of clients and business associates can raise conflict of interest problems, and knowing where to draw the line, between what is right and wrong, is not always easy.
The clear point is that those who cross that line, intentionally or not, end up in big trouble.
It is indeed difficult to determine the morality of giving-gift.
Most agree that accepting and receiving bribe is a violation of professional ethics, but we may not always find it easy to determine what is and is not a bribe.
Not all examples of giving and accepting gifts and amenities qualify as bribery, just as not all cases of taking another’s property should be considered theft.
47
Business gift of _______ and business __________ can raise _______of ________, and knowing where to draw the line, between what is right and wrong, is not always _____.
clients
associates
conflict of interest problems
easy
48
The clear point is that those who __________, intentionally or not, end up in _________.
cross that line
big trouble
49
It is indeed __________ to determine the ________ of ________.
difficult
morality of giving-gift.
50
Most agree that accepting and receiving bribe is a _______________, but we may not always find it easy to determine ________ and __________.
violation of professional ethics
what is
is not a bribe.
51
Not all examples of giving and accepting gifts and amenities qualify as ________, just as not all cases of taking another’s property should be considered ________.
bribery
theft
52
is defined as a practice of giving remuneration for performance of an act that is inconsistent with the work contract or the nature of the work one has been hired to perform.
Bribery
53
Examples of Bribery:
A motorist offers a certain amount of money to a police officer in order not to be issued a ticket for over speeding;
A citizen seeking paperwork or utility line connections gives an expensive gift to a functionary in exchange for a faster service
A construction company sharing percentage of its income to a civil servant in order to win a contract
54
plays a very significant role in marketing goods and services.
Advertising
55
_____________, the consumers would not be aware of the presence of the diverse products and service available in the market.
Without advertising
56
The famous marketing guru
Philip Kotler
57
defines ___________ as “any paid from a non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.”
Philip Kotler
advertising
58
is to inform potential buyers of the availability of a certain product
by providing relevant information on its uses, benefits and how it might serve the needs and wants of individuals.
advertising
59
in itself is not bad or immoral since it helps achieve the goals of both the seller and buyer.
advertising
60
There is only one criterion in evaluating the morality of advertising, and that is, “_________.”
to tell truth
61
An advertisement that conveys truthful information is __________
If an advertisement contains false statements and, lies, then it is said to be _________
morally permissible
immoral
62
advertising is not totally immoral. It only becomes unethical when the advertisement becomes _________, ____________, ____________
1. Misleading Advertisements.
2. Deceptive Advertisements.
3. Manipulative Advertisements.
63
Do not misinterpret, do not make false claims but it makes claims in such a way that a normal person looking at it comes up with wrong conclusion.
Misleading Advertisements.
64
Make a false statement or misrepresents the product, e.g., the picture presented in the advertisement is different from the actual product.
Deceptive Advertisements.
65
Uses trickery or by insidious means. It involves the use of force threat, either physical or psychological.
Manipulative Advertisements.
66
Deceptions may occur not only through sentences or propositions but also through________, ____________, or through certain ______________ which can deceive the ___ and
________.
pictures
individual words
combinations of objects
eye
mind
67
are those which either make a false statement and therefore, lie, or which represent the product without making any statement.
Deceptive Advertising
68
Use of “Weasel Words”
Deceptive Advertising
69
are used to avoid from a direct or straightforward statement.
Weasel words
70
Another deceptive technique in advertising is _________
ambiguity
71
When ads are ambiguous, they are
considered __________.
deceptive
72
occur when advertisements tend to make false claims of the benefits on the goods and services which is actually unsupported by valid evidence.
Exaggeration
73
often goes hand in hand with concealed information. Advertisers conceal facts by suppressing information that is unflattering to their products. That is, they deliberately neglect to mention or distract consumers, attention away from information, knowledge could probably make their products less desirable.
Exaggeration
74
as a visual or aural influence on the subconscious mind and emotions. It influences by implying that doing what is suggested will satisfy a subconscious desire. It is nor subliminal, which includes elements in a visual or aural presentation that are not consciously perceived but influence behavior.
Richard Taflinger
psychological appeal
75
Some psychological appeals that advertisers use to motivate people to buy products are;
Power
Prestige
Personal Enjoyment
Masculinity
Femininity
Curiosity
Imitation
Acceptance
Approval
Self-esteem
Self-preservation
Sexual pitches
76
is a two-edged sword.
use of sex in advertising
77
“The State shall protect the consumer from misleading
advertisements and fraudulent sales promotion practices.”
Article 108
78
is responsible for enforcing the provision of the Act. With respect of food, drugs, cosmetics, devices, and hazardous substances.
Department of Trade and Industry
79
is the agency that oversees these products.
Department of Health
80
(PANA)
PHILIPPINE ASSOCIATION OF THE NATIONAL ADVERTISERS
81
The PANA issued a Code of Ethics which includes the following statement of general principles;
Good advertising recognizes both its economic and social responsibility to help reduce distribution costs and to serve the public interest.
Good advertising aims to inform the consumer and help him buy intelligently.
Good advertising seeks public acceptance on the basis of positive and constructive statements, made on the merits of the product or service advertised, rather than by the disparagement of competition.
Good advertisement does not allow any activity that involves the exploitation of the goodwill, attached to any other firm, product, or service. It does not imitate trademarks, packages, labels, and such
advertising devices as illustration, copy, layouts, or slogan.
82
Good advertising recognizes both its________ and __________________ to help reduce ________________ and to serve the _____________.
economic
social responsibility
distribution costs
public interest
83
Good advertising aims to inform the __________ and help him buy __________.
consumer
intelligently
84
Good advertising seeks ____________ on the basis of _________ and _____________ statements, made on the merits of the product or service advertised, rather than by the ____________of competition.
public acceptance
positive
constructive
disparagement
85
Good advertisement does not allow any activity that involves the ___________________, attached to any other firm, product, or service. It does not imitate ________, _________, _________, and such
____________ as illustration, copy, layouts, or slogan.
exploitation of the goodwill
trademarks
packages
labels
advertising devices
86
is defined as a relationship between two people who are employed by the same organization.
Workplace Romance
87
Workplace romance offers benefits for the employees in particular and also for the company in general
friendship,
mutual support to each other at work
and other personal experiences.
88
A lot of people also believe
that the __________ is right venue to find the person to marry and to nurture long-term relationships.
workplace
89
Disadvantages of Workplace Romance
* Damaged Professional Reputations
* Disturbed Co-workers
* Changes in Productivity
* Dating the Boss
* Extramarital Affairs
90
Integrity will be placed in a questionable situation within the corners
of workstations.
* Damaged Professional Reputations
91
They may have an idea of favoritism, unfair treatment and bias may arise from the relationship
* Disturbed Co-workers
92
It also includes the aftermath of an office or workplace romance that did not
work out.
* Changes in Productivity
93
Ethical Issues in Fair Price
* The true cost of the product is concealed.
* Suggested retail price
* Use of electronic scanners
* Promotional Pricing
* Follow the leader pricing
* Price gouging
* Price fixing
94
Price must be acceptable and just
The Problem of Fair Pricing
95
is the legal for confidential business information. That piece of information allows the company to
compete effectively.
Trade secret
96
is the determination of someone else’s trade secret information via examination and testing of publicly available information.
Reverse engineering
97
is a must for any business.
Trade secret protection
98
Each person has the right to the information he needs to enter into a transaction fairly.
Corporate Disclosure
99
is observed when there is a transformation of information to misinformation.
Misrepresentation
100
Each person has the right to those action of others that will seriously and adverse affect him or her.
Corporate Disclosure
101
let the buyer beware
Caveat Emptor
102
two types of misrepresentation.
* Intentional
* Unintentional
103
commonly known as lying
Intentional
104
commonly called as white lie
Unintentional
105
Types of Lying
* Use of ambiguous terms
* Use of false statements
* Lying through action
* Suppression of correct information
106
Is the act of deliberately using vague terms or open-ended statements that can have meanings to mislead people.
Use of ambiguous terms
107
Example, using the term “best-selling” brand
Use of false statements
108
Person gets caught in the act
Lying through action
109
is an unintentional act of hiding correct information which eventually
misleads others.
Suppression of correct information
110
It is characterized by actively misrepresenting something about the product or service.
Misrepresentation
111
A. Misrepresentation
* Deceptive Packaging
* Adulteration
* Misbranding or Mislabeling
* Short weighing
* Short changing
* Short measuring
* Short numbering
112
The concept is to create an illusion that will divert the attention of the buyer and convince him to believe that the product has been made better. Example is a floppy-filled packaging where containers are filled up to 90% of its real capacity or new packaging material which actually lessen the contents
of the goods.
Deceptive Packaging
113
: Corrupting a genuine commodity by imitating or by adding something to increase its bulk or
volume, or even by substituting an inferior product for a superior one for the purpose of profit or gain.
Adulteration
114
Copying the product’s design to the closest possible way giving an impression
that is the same with the leading brand.
Misbranding or Mislabeling
115
It is considered as the most common type of direct misrepresentation
Short weighing
116
It is very common in textile markets and electrical shops.
Short measuring
117
The seller gives the consumer the quantity by piece of the product less than number he has paid for. Example, bond paper in reams of paperclips and matchsticks in boxes.
Short numbering
118
It is characterized by omitting adverse information about the product or service. It is a passive deception and not as obvious compared to direct misrepresentation.
Indirect Misrepresentation
119
Indirect Misrepresentation
* Caveat Emptor
* Business ignorance
120
“let the buyer beware” and is a practice very common among salesmen
Caveat Emptor
121
Inability of the businessman to provide the customer with the complete information. Example stock investments
Business ignorance
122
describes collective action undertaken by groups of workers in the form of a refusal to perform work.
Strike
123
Types of strikes
* Sit-down strike (or sit-in)
* General strike
* Sympathy strike (or secondary)
* Unfair labor practice strike
* Economic strike
* Wildcat strike
* Slow-down
124
is a strike in which workers show up to work, but refuse to work.
Sit-down strike (or sit-in)
125
is a strike affecting all areas of a labor force across many industries.
General strike
126
is a strike initiated by workers in one industry and supported by workers in a separate but related industry.
Sympathy strike (or secondary)
127
is an action taken by an employer (including any agent or representative of
the employer)
Unfair labor practice strike
128
is based on a demand for better wages or benefits than the employer wants to provide.
Economic strike
129
is against the will of the leadership of a union, or without a union.
Wildcat strike
130
is a form of work stoppage in which employees deliberately reduce their individual
performance.
Slow-down
131
It is the disclosure by an employee of confidential information which relates to some danger, fraud or other illegal or unethical conduct connected with the workplace, be it of the employer or his fellow employees.
Whistle blowing
132
is someone in an organization who witness behavior by members that is either contrary to
the mission of the organization, or threatening to the public interest and who decides to speak out publicly about
it.
whistleblower
133
Types of Whistleblowing
* Internal whistleblowing
* External whistleblowing
* Current
* Alumni
* Open
* Anonymous
134
occurs within the organization.
Internal whistleblowing
135
occurs outside the organization.
External whistleblowing
136
Those who blow the whistle on current employees.
Current
137
Those who blow the whistle on former employees.
Alumni
138
The whistleblower discloses his identity.
Open
139
The whistleblower does not disclose his identity.
Anonymous
140
is a system of selling on which one signs up other people to assist him, and they, in turn, recruit others to help them. It is a system of selling through many levels of distributors, thus the word “multilevel
marketing”. Common companies of this type are Avon, Sara Lee Direct Selling and Tupper Ware Philippines.
Multilevel Marketing
141
In the classic pyramid scheme, participants attempt to make money solely by recruiting new participants into the program. The hallmark of these schemes is the promise of sky-high returns in a short period of time for doing nothing other than handing over your money and getting others to do the same.
Pyramiding
142
Moral Issues in Pyramiding
* Too much materialism and greed
* They con the public, making them believe that they are a legitimate MLM.
* The intentions are bad
143
Is a competition good or bad? Competition is healthy and can be a motivation for firms to produce better products or offer better services.
Unfair Competition
144
It is the process of disguising illegally obtained money so that the funds appear to come from legitimate
sources or activities. occurs in connection with a wide variety of crimes, including illegal arm
sales, drug trafficking, robbery, fraud and terrorism.
Money Laundering
145
The possible social and political costs of money laundering, if left unchecked or dealt with ineffectively, are serious. Organized crime can infiltrate financial institutions, acquire control of large sectors of the economy through investment, or offer bribes to public officials or even government.
Impact of Money laundering on Society
146
It occurs in the business context when a person acts in a way that is to his/her advantage at the expense of the employing organization.
Conflict of Interest
147
At the time of hiring, when an employee agrees to the terms of a contract, there is also an implicit agreement that the employee will not sacrifice the interest of the organization for his/her
personal interest. Conflict of interest violates the principles of impartiality. Common factors that create conflict of
interest are commercial bribes or gifts.
Conflict of Interest
148
Types of Conflict of Interest
* Self-dealing
* Accepting benefits
* Influence peddling
* Using your employer’s property for private advantage
* Outside employment or moonlighting
* Post-employment
149
For example, you work for the government and use your position to secure a contract for a private company you own.
Self-dealing
150
Bribery is one example. For example, you are the purchasing agent of your department and you accept a case of liquor from a major supplier.
Accepting benefits
151
Here, the professional solicits benefits in exchange for using her influence to unfairly advance the interest of a particular party.
Influence peddling
152
This could be as obvious as stealing office supplies for
home use.
Using your employer’s property for private advantage
153
An example would be setting up a business on the side that is in direct competition with your employer
Outside employment or moonlighting
154
Here, a risky situation can be one in which a person who resigns from a public or private employment and goes into business in the same area. For example, a former public servant sets up a
practice lobbying the former department in which she was employed.
Post-employment
155
refers to the significant facts that have not yet made public and are likely to affect stock prices.
Insider Trading
156
is “intentional negligence” of the obligation to pay
Tax evasion
157
Example, omitting report one’s corporate income, intentional understatement of income, improper overstatement of deductions, claiming false personal exemptions
Correct taxes to the government
158
It is when taxpayers exploit legally permissible alternative methods of assessing taxable property or income in order to avoid reduce tax liability.
Tax avoidance
