L3: COMMON PRACTICES IN BUSINESS ORGANIZATION

• Common practices in business organization include: decorum, policies, protocol, advertising, marketing, bookkeeping, reportorial requirements, and documentation
• Decorum in business refers to correct or proper behavior that shows respect and good manners
• Proper decorum in business includes arriving at the office on time, respecting others' time, wearing the proper dress code, and greeting others with a handshake and a smile
• Policies in business are guidelines developed by an organization to govern its actions
• Protocol in business is crucial for recognizing the rules dominant in business practice to avoid losing good business contacts
• Advertising in business is how a company encourages people to buy their products, services, or ideas
• Marketing in business refers to the process of product development, sales, promotion, and distribution, focusing on customer needs
• Bookkeeping in business is the process of recording all financial transactions to keep track of cash flow
• Reportorial requirements in business involve public reporting of operating and financial data by a business enterprise
• Documentation in business refers to processes and items serving as evidence for the validity or truth of a claim or statement
• A code of ethics in business is a set of rules about good and bad behavior designed to help professionals conduct business honestly and with integrity