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Business Ethics > Finals > Flashcards

Finals Flashcards

1
Q

What are the reasons to do business beyond profit?

A
  1. Profit is an output, not a purpose
  2. Companies with a purpose beyond profit tend to make more money
  3. Business needs Purpose than Profit to Make It Through
  4. What is the purpose of doing business if it is not being profitable?
  5. Business with a strong sense of
    purpose are more successful
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2
Q

Profit cannot be the goal, vision, or the purpose of an organization.

A
  1. Profit is an output, not a purpose
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3
Q

Profit is too temporary to guide a business by.

A
  1. Profit is an output, not a purpose
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4
Q

source of long-term success

A

Satisfied Customers

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5
Q

Because satisfied customers are the only source of long-term success, measures need to be related to purpose as defined from a customer point of view.

A
  1. Companies with a purpose beyond profit tend to make more money
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6
Q

Many corporate and business strategies now include…

A

Sustainability

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7
Q

Many corporate and business strategies now include sustainability. In addition to the traditional environmental ‘green’ sustainability concerns, business ethics practices have expanded to include social sustainability.

A
  1. Business needs Purpose than Profit to Make It Through
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8
Q

focuses on issues related to human capital in the business supply chain, such as worker’s rights, working conditions, child labor, and human trafficking.

A

Social Sustainability

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9
Q

Social Sustainability

A
  1. Business needs Purpose than Profit to Make It Through
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10
Q

Incorporation of these considerations is increasing, as consumers and procurement officials demand documentation of a business’ compliance with national and international initiatives, guidelines, and standards.

A
  1. Business needs Purpose than Profit to Make It Through
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11
Q

The starting point of great companies

A

Purpose

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12
Q

What are the four main types of purposes according to Nikos Mourkogiannis?

A
  1. Discovery
  2. Excellence
  3. Altruism
  4. Heroism
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13
Q

Mentions the four main types of purposes according to Nikos Mourkogiannis?

A
  1. What is the purpose of doing business if it is not being profitable?
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14
Q

The starting point of great companies is Purpose.

A
  1. What is the purpose of doing business if it is not being profitable?
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15
Q

has rooted in intuition that life is a kind of adventure.

A

Discovery

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16
Q

The starting point of great companies is Purpose.

A
  1. What is the purpose of doing business if it is not being profitable?
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17
Q

implies standards and purports the belief that excellent performance in our role in life represents the supreme good.

A

Excellence

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18
Q

a purpose built in serving its customers in a way that is beyond standard obligation.

A

Altruism

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19
Q

demonstrates achievement, often with a charismatic and visionary leader.

A

Heroism

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20
Q

Discovery, Excellence, Altruism, Heroism

A

the four main types of purposes according to Nikos Mourkogiannis

  1. What is the purpose of doing business if it is not being profitable?
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21
Q

Stand for something beyond simply increasing profits.

A
  1. Business with a strong sense of purpose are more successful
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22
Q

A true vision for a business rests on what?

A

foundations of both purpose and values.

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23
Q

A true vision for a business rests on foundations of both purpose and values

A
  1. Business with a strong sense of purpose are more successful
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24
Q

The people within the business have to be passionate about what they do and why they do it.

A
  1. Business with a strong sense of purpose are more successful
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25
Q

The business goals must then align with this foundation.

A
  1. Business with a strong sense of purpose are more successful
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26
Q

Most Filipinos are connected together with their…?

A

beliefs, culture, tradition, characters, traits and common values

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27
Q

are first taught at home and are adapted and implemented in the society

A

Values

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28
Q

plays a vital role on the way we live, decide, choose and interprets our daily activities in life

A

Values

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29
Q

denote the degree of importance of something or action

A

Values

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30
Q

it aims in determining what actions are best to do or what way is best to live, or to describe the significance of different actions.

A

Values

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31
Q

refer to the set of values that are significant and inclined with one’s culture

A

Filipino Values

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32
Q

preserves social harmony that promotes connection, unity and may understand set of people

A

Filipino Values

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33
Q

includes the inimitable collection of dependable philosophies, moral codes, ethical practices, etiquette, cultural and personal values encouraged by the family or the society they belong.

A

Filipino Values

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34
Q

The management and sustainability of the business depends in what?

A

on the values and beliefs of the proprietor

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35
Q

What do Filipino entrepreneurs do in terms of values?

A

They may implement rules, practices and principles based on their values they had grown up with their family, learnt and adapted.

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36
Q

What are The Most Popular Filipino Values that Influence Business Practices?

A
  1. Pakikisama
  2. Hospitality
  3. Family Orientation
  4. Joy and Humor
  5. Ability to Survive
  6. Hard work and Industriousness
  7. Flexibility, Adaptability and Creativity
  8. Utang na Loob
  9. Filial Piety
  10. Padrino
  11. Suki
  12. Bahala Na
  13. Mañana
  14. Amor Propio
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37
Q

comes from the word “sama” and prefix “paki”, and literally means to accompany someone.

A

Pakikisama

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38
Q

Fellowship

A

Pakikisama

39
Q

used to maintain good relations with others, and the fellowship is associated with adaptation, dealings and harmony.

A

Pakikisama

40
Q

In business practices, the proprietor must establish _____________ to their employees, suppliers and customers because it implies closeness to the others that would create a sustainable growth relationship.

A

Pakikisama

41
Q

Is the relationship between a guest and a host

A

Hospitality

42
Q

wherein the host receives the guest with goodwill, including the reception and entertainment of guests, visitors, or strangers.

A

Hospitality

43
Q

Why should entrepreneurs master on how to treat and provide excellent services on welcoming their suppliers and customers?

A

to create a good reputation and relationship

44
Q

plays the fundamental role to increase or decrease the volume of sales, popularity and production growth in a business.

A

Hospitality

45
Q

refers to the family in which a person is raised. It includes one’s parents and siblings. It may also include grandparents or other relatives.

A

Family Orientation

46
Q

primary platform for which one encounters early socialization experiences.

A

Family Orientation

47
Q

can be learned from the family that will inculcate to a child as he/she matures into an adult.

A

Values and Beliefs

48
Q

Values and beliefs can be learned from the family that will inculcate to a child as he/she matures into an adult.

A

Family Orientation

49
Q

The Filipino valued their family and being closed to one another until the last of their generation

A

Family Orientation

50
Q

Most of the successful entrepreneurs acquired and gained this ample knowledge in dealing with their business from their family.

A

Family Orientation

51
Q

Consequently, they become well trained to manage their family business.

A

Family Orientation

52
Q

Others inherit the skills not only from their family business but also the values and beliefs in managing and operating their business.

A

Family Orientation

53
Q

Business operates and grow not only by means of profit and management.

A

Joy and Humor

54
Q

An entrepreneur operates business to find joy and happiness in his life.

A

Joy and Humor

55
Q

Helping people by promoting employment and providing quality product and services to their clients create a joyful feeling

A

Joy and Humor

56
Q

Filipino values always find reason to feel joy and has a sense of humor to establish camaraderie to others.

A

Joy and Humor

57
Q

It sheds light on the optimism and positivity of Filipinos in whatever situation they are in.

A

Joy and Humor

58
Q

It serves as a coping technique to remain determined in every struggles or challenges in life and in business.

A

Joy and Humor

59
Q

A Filipino has a sense of resourcefulness or the ability to survive with whatever situation or challenges they have.

A

Ability to Survive

60
Q

They have an extraordinary ability to create something out of almost nothing.

A

Ability to Survive

61
Q

If a Filipino is trapped in an uninhabited island, he would still be able to find a safe area to stay, provide materials to build a house, find foods to eat and create different tools to survive.

A

Ability to Survive

62
Q

if it is needed to promote and increase the volume of sales, a Filipino has always the ability to find different techniques, marketing strategies and ideas to perform and create a product in order for the business to survive.

A

Ability to Survive

63
Q

Filipinos are determined and persistent to accomplish whatever they have set in their minds. In business, hard work and industriousness play a vital role to establish and develop business progress.

A

Hard work and Industriousness

64
Q

They need employees who are willing to work overtime, with minimal supervision and resourcefulness comes with a hard work to serve the business.

A

Hard work and Industriousness

65
Q

A Filipino has an ability to adapt, adopt and adept in any changes and challenges in life either in spiritual, social, emotional and physical aspect.

A

Flexibility, Adaptability and Creativity

66
Q

In business, unplanned and anticipated events in market would not disturb this values of Filipino entrepreneurs.

A

Flexibility, Adaptability and Creativity

67
Q

Filipino entrepreneurs could easily produce creative strategy, technique and style to adjust to challenges and compete with others.

A

Flexibility, Adaptability and Creativity

68
Q

Debt of Gratitude

A

Utang na Loob

69
Q

It shows duties and responsibility to pay the debts and return it with inner-self-free will the unsolicited gift or good treatment received from other people.

A

Utang na Loob

70
Q

In business, there are plenty of reasons that may influence the business practices, either positive or negative outcome that may vary with ethical issues.

A

Utang na Loob

71
Q

An obligation to appropriately repay the good deeds which value is impossible to quantify

A

Utang na Loob

72
Q

if there is a quantifiable value it may involve deeply personal internal dimension that will usually start from one generation and continue to another generation.

A

Utang na Loob

73
Q

To show respect, love, care and support to their elders, parents, relatives and ancestors.

A

Filial Piety

74
Q

It upholds the affection and display courtesy to the family that most cases are likely working together in one company; living together in one house; paying the house bills of their parents.

A

Filial Piety

75
Q

It also takes good care of one’s parents and engage in good conduct not just towards parents but also outside the home so as to bring a good name to one’s parents and ancestors.

A

Filial Piety

76
Q

Whom you know system

A

Padrino

77
Q

It supports with the strong relationship of people.

A

Padrino

78
Q

Most of the job seekers automatically hired regardless of their qualifications and educational background through endorsements, political connections, family affiliations, or friendships

A

Padrino

79
Q

When you are hired through connections such as family affiliations

A

Nepotism

80
Q

When you are hired through connections such as family affiliations

A

Nepotism

81
Q

When you are hired through connections such as friendships

A

Cronyism

82
Q

It shows loyalty and trust relationship between a customer and supplier.

A

Suki

83
Q

It usually establishes at the market or business.

A

Suki

84
Q

If a buyer finds a trusted seller that offers a quality product they need, the loyalty and commercial connection of a buyer will be established to the seller and made several business transactions with these type of customers

A

Suki

85
Q

Filipino values that shows letting things happen beyond their control.

A

Bahala Na

86
Q

It shows an attitude of a person that is willing to submit everything to God or leaving things to happen by fate.

A

Bahala Na

87
Q

Some of investors operate business beyond their control.

A

Bahala Na

88
Q

They will only believe that the market will accept it if they will “do their best and let God do the rest.”

A

Bahala Na

89
Q
A

Mañana

90
Q

What does Mañana mean?

A

A Spanish word which literally means “tomorrow” or “unspecified future time”.

91
Q

a Spanish word which means “self – love”,

A

Amor Propio

92
Q

a sense of self-esteem or self-respect that prevents a person from swallowing his pride and concerned for one’s reputation.

A

Amor Propio

93
Q

It includes sensitivity to personal insult or affront.

A

Amor Propio

Business Ethics (5 decks)

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