Exam (elaborations)
TPC 103 CHAPTER 2 EXAM QUESTIONS AND ANSWERS
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TPC 103 CHAPTER 2 EXAM QUESTIONS AND ANSWERS...
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Ethics - ANSWER A system of moral principles that affect decision-making and behavior, concerned with what is good for individuals and
society.
Legal Behavior - ANSWER Behavior that follows the dictates of laws,
written down and interpreted by the courts.
Ethical Business Practice - ANSWER Concerned with society's duties
and responsibilities to uphold moral values and meet stakeholders'
expectations.
Business Ethics Laws and Regulations - ANSWER Goes beyond
following laws to include codes of behavior based on religious values,
philosophies, and societal requirements.
Ethical Business Strategies - ANSWER Strategies necessary to build
and maintain an ethical business culture, often requiring a proactive
approach.
Creation of Ethical Principles - ANSWER Defining an organization's
ethical standards through values, laws, code of ethics, and policies.
Forming an Ethics Committee - ANSWER Establishing a committee with
senior members to support ethical decision-making and actions within an
organization.
Ethical Knowledge Building - ANSWER Raising awareness of ethics in
the workplace to reduce unethical behavior and promote proper conduct.
Measuring and Monitoring the Ethical Status - ANSWER Assessing and
tracking a company's ethical status to ensure alignment with ethical
objectives and values.
, Consumer Protections - ANSWER Regulations such as Republic Act No.
7394, the Consumer Act of the Philippines of 1991, aimed at
safeguarding consumer rights.
E-Commerce & Business Regulations - ANSWER Regulations like
Republic Act No. 8484 and Republic Act No. 8792 governing electronic
commercial transactions and access device regulation.
Data Privacy & Security - ANSWER Regulations such as Republic Act
No. 10173, the Data Privacy Act of 2012, protecting personal information
in information systems.
Labor Code of the Philippines - ANSWER A legal code determining
employment practices and labor relations in the Philippines.
Business plan - ANSWER A document outlining an organization's
strategy, growth targets, target market, unique selling points, and
marketing goals for the next three to five years.
Balance sheet - ANSWER A financial statement that lists a company's
assets, liabilities, and equity of ownership at a specific moment in time,
usually the end of the financial year.
Start-up process - ANSWER Describes the early stages of a new
company, typically in its first few months or years of operation.
Forecast - ANSWER A prediction of various aspects of a company's
future based on current conditions, external factors, new products, and
marketing strategies.
Marketing - ANSWER The process of promoting and selling products or
services through various channels such as advertising, email marketing,
social media, etc.
USP - ANSWER Abbreviation for 'Unique Selling Proposition'; the
distinctive factor that sets a product or service apart from competitors.
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