besr semi

• Fairness

  Giving to a person what is due to him/her
• Accountability


  The explication and justification process
• Transparency


  This approach makes a person more honest and sincere
• Nature of business


  • Aims to earn profits
  • An active process
  • Involves significant operations such as buying, assembling, etc.
• Nature of a corporation

  • The life of a corporation has no limit
  • The business operates even without any real oversight from the owners
  • Corporation files taxes separately from its owners
• Role of a corporation

  • Provides benefits such as connections with suppliers
  • Makes massive quantities of goods
  • Hires huge number of workers
• Advantages of a partnership


  • Sharing of burden
  • Partners both own and control the business
  • Better decision-making because two heads decide
• Advantages of a sole proprietorship


  • Tax preparation is a lot faster
  • The sole proprietor can pass the business down to his/her heir
  • Handling money for the business is easier
• Profit


  The amount received minus the amount spent
• Partnership


  A business venture by two or more people
• Reporting


  This act should be done accurately to the company's investors
• Business


  Involves important operations like advertising, marketing, etc.
• Sole proprietorship


  A business owned by one person only
• Decision-making


  An example is hiring of workers
• Corporation


  An independent entity distinct from its owners
• Fairness is shown when one listens to the two sides of a story before giving his/her judgment
• Accountability is shown when one admits his/her mistake and is responsible for it
• Partners refers to two or more people who work together or do business together
• Profit is what most businesses aim for
• Business is engaged in if one wants profits
• Corporations are organizations enjoying the rights and duties as that of an individual
• Proprietor is another term for the owner of a business
• Exercising fairness involves paying the right amount for an item purchased
• Transparency is exhibited when one holds an open bidding for company's next project
• Accountability is shown when one pays the money collection which he lost in the restaurant, being the treasurer of the lending company where he works
• A corporation is a separate entity distinct from all the owners
• Shareholder's liability is only limited to the amount of their investment
• Handling money for a sole proprietorship is easier than partnership
• Manufacturing businesses include baked goods and cosmetics
• The sole proprietor can pass the business down to his/her heir
• Partnership business lacks formality compared with managing a limited company or corporation
• Profit is the difference between the amount received and the amount spent on something purchased, produced, or manufactured
• In a sole proprietorship, the owner decides alone
• The liability of a shareholder is only limited to the amount of his/her investment
• Plato: 'Happiness or well-being is the highest aim of moral thought and conduct'
• Immanuel Kant: 'Motives and the willingness of individuals to act for the good of others, even though that action might result to personal loss'
• Socrates: 'We have the right to think of ourselves'
• Aristotle: 'The role of the leader is to create an environment in which all members of an organization can realize their own potential'
• Jeremy Bentham and John Stuart Mill: 'Utilitarianism is a moral theory that advocates actions that promote overall happiness or pleasure and rejects actions that cause unhappiness or harm'
• Three important core principles in business organization


  • Fairness
  • Accountability
  • Transparency