Business Organization
An unincorporated business that one person owns and manages
Sole Proprietorship
An organization that produces or distributes a good or service for profit.
Business/Enterprise
The Greek word which means distinguishing character, sentiment, moral nature, or guiding beliefs of a person, group, or institution
Ethos
Items that are not essential for living and so non-fulfillment, does not have a great impact on a person’s life, however, disappointment may be there.
Wants
They benefit from corporate governance through good and quality products
Customers
He is an invested person who is involved in the daily operations of the partnership
Active Partner
The system of exchange of goods to obtain others good which others produced.
Barter System
It is arguably the oldest ethical theory in the world, with origins in Ancient Greece
Virtue Ethics
An individual’s basic requirement that must be fulfilled, in order to survive.
Needs
He follows an established path engraved by someone with an unoriginal idea
Business Person
These are governed by Securities and Exchange Commission as the regulating body
Corporations
He is a person who attempts to make a profit by starting a company or by operating alone in the business world, esp. when it involves taking risks and creative ideas
Entrepreneur
Code of Ethics can mitigate possible risk in the business. (True or False)
True
This indicates that businesses should operate themselves in the marketplace in accordance with industry standards.
Market Conduct
An organization that is not affected by the death of a stockholder
Corporation
Under the previous Corporation Code of the Philippines (Batas Pambansa Bilang 68), a corporation cannot exist for a period of how many years
50years
It is a complex system of interrelated production, consumption, and exchange activities that ultimately determines how resources are allocated among all the participants
Economy
The set of beliefs of an individual and or the system of principles and judgment shared by society, culture and community
Morality
It means having complete knowledge about the money you have and how you can make it grow best.
Financial Prudence
Two or more individuals came together, contribute resources to form a business, and agree to divide the profit among them.
Partnership
They are not required to pay income taxes because proceeds are used for charitable works
Non-Profit Organizations
Someone who believes in the economic philosophy of a system of privately-owned, for-profit businesses.
Capitalist
It includes analysis of moral norms and moral values and its application to the assortment of institutions, organizations and business’ activities
Business Ethics
It occurs when an entity or individual becomes unreliable because of a clash between personal (or self-serving) interests and professional duties or responsibilities.
Conflict of Interest
It is equated with answerability, blameworthiness, liability, and the expectation of account-giving.
Accountability