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Questions and Answers

Which cluster does the Philippines belong to in the Responsible Competitiveness Index?

  • Compliers (correct)
  • Starters
  • Asserters
  • Innovators

What does the Responsible Competitiveness Index promote among businesses?

  • Improving economic competitiveness through responsible practices (correct)
  • Isolating businesses from social responsibility
  • Encouraging corporate accountability without impact measurement
  • Maximizing profits at all costs

In which year did the Philippines rank 51 among 132 countries according to the GII?

  • 2020
  • 2019
  • 2022
  • 2021 (correct)

What types of partnerships are mentioned as part of global development efforts?

<p>Conventional business and social economy partnerships (C)</p> Signup and view all the answers

What is the primary role of the Global Reporting Initiative (GRI)?

<p>To provide common language for organizations to communicate their impacts (C)</p> Signup and view all the answers

What is one purpose of regulation in business?

<p>To avoid undesirable marketing consequences (C)</p> Signup and view all the answers

Which of the following is a cost incurred by businesses due to regulation?

<p>Compliance with quality standards (D)</p> Signup and view all the answers

How does regulation benefit consumers?

<p>Ensures safer products (C)</p> Signup and view all the answers

What social demand does regulation respond to?

<p>Greater equality in the workplace (A)</p> Signup and view all the answers

What is one characteristic of technology mentioned in the content?

<p>It has a broad reach throughout society (A)</p> Signup and view all the answers

Which of the following is a potential negative consequence of regulation?

<p>Increased costs for businesses (B)</p> Signup and view all the answers

What does regulation aim to protect consumers from?

<p>Unethical business practices (B)</p> Signup and view all the answers

Which of the following is an example of a benefit of regulation?

<p>Increased options among products (A)</p> Signup and view all the answers

Which genetically modified crop is NOT available in the United States?

<p>Wheat (A)</p> Signup and view all the answers

What is a key aspect of Strategic Technology Assessment?

<p>Evaluating the effects of new products on business operations (D)</p> Signup and view all the answers

Which act focuses on ecological solid waste management in the Philippines?

<p>RA 9003 (C)</p> Signup and view all the answers

Which of the following is NOT an environmental issue related to land?

<p>Water scarcity (B)</p> Signup and view all the answers

What term describes the potential for long-term well-being of the natural environment?

<p>Sustainability (D)</p> Signup and view all the answers

Which of the following is an example of alternative energy?

<p>Solar power (C)</p> Signup and view all the answers

Which of the following accurately describes the atmosphere?

<p>A mixture of gases around the Earth (D)</p> Signup and view all the answers

Which act pertains to the regulation of hazardous substances in the Philippines?

<p>RA 6969 (C)</p> Signup and view all the answers

What is a primary cause of acid rain?

<p>Sulfur dioxide and nitrogen oxides (B)</p> Signup and view all the answers

Which of the following is considered a renewable energy source?

<p>Hydropower (C)</p> Signup and view all the answers

What are the main greenhouse gases contributing to global warming?

<p>Carbon dioxide and CFCs (A)</p> Signup and view all the answers

What is the purpose of a cap-and-trade program?

<p>To set carbon emission limits (A)</p> Signup and view all the answers

Which statement about wind power is NOT true?

<p>It is an unlimited energy source (A)</p> Signup and view all the answers

What characterizes water quality?

<p>Its physical, chemical, and biological characteristics (D)</p> Signup and view all the answers

Why is geothermal power considered sustainable?

<p>It extracts significantly less heat than the Earth produces (D)</p> Signup and view all the answers

Which technology is used in solar power for converting sunlight into electrical energy?

<p>Photovoltaic panels or mirrors (A)</p> Signup and view all the answers

What is primarily assessed during a risk analysis?

<p>Possibility of adverse events affecting organizations (A)</p> Signup and view all the answers

Which characteristic is NOT true of biofuels?

<p>They are only used for electricity generation. (C)</p> Signup and view all the answers

Which of the following statements is true regarding hydropower?

<p>It alters the natural flow of water to generate power. (D)</p> Signup and view all the answers

What is the cognitive component of cultural intelligence?

<p>Knowledge of social systems in various cultures (D)</p> Signup and view all the answers

Which of the following best describes the motivational component of cultural intelligence?

<p>Willingness to learn about and understand other cultures (B)</p> Signup and view all the answers

What is a common misconception about biofuels?

<p>They can only be used for transportation. (B)</p> Signup and view all the answers

What does the behavioral component of cultural intelligence involve?

<p>Ability to respond effectively in cross-cultural situations (A)</p> Signup and view all the answers

Which of these is an advantage of using hydropower?

<p>Very low direct emissions (C)</p> Signup and view all the answers

What is the primary purpose of the Price Act of 1992?

<p>To regulate the prices of essential goods. (D)</p> Signup and view all the answers

Which act addresses the rights and responsibilities of consumers in the Philippines?

<p>RA 7394: The Consumer Act of the Philippines (D)</p> Signup and view all the answers

What is a monopoly?

<p>When one business controls the entire market for a product. (B)</p> Signup and view all the answers

Which organization comprises 27 European countries and governs common economic policies?

<p>European Union (EU) (D)</p> Signup and view all the answers

What key benefit does regulation provide in terms of competition?

<p>It creates a level playing field for all businesses. (C)</p> Signup and view all the answers

Which act was passed to facilitate electronic commerce in the Philippines?

<p>RA 8792: Electronic Commerce Act of 2000 (B)</p> Signup and view all the answers

What is the primary function of the Asia-Pacific Economic Cooperation (APEC)?

<p>To enhance economic interdependence in the Asia-Pacific region. (D)</p> Signup and view all the answers

Which of the following is a rationale for government regulation in business?

<p>To avoid exploitation from market dominance. (D)</p> Signup and view all the answers

Flashcards

Regulation Rationale

The reasons behind government rules and laws for businesses.

Economic Regulation

Rules aimed at ensuring fair competition and preventing monopolies in the market.

Trust (Business)

A group of companies working together to dominate a market and eliminate competition.

Monopoly

When one company solely provides a product or service within a market.

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Social Regulation

Government rules focusing on protecting consumers, workers, and the environment.

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Global Regulation

Rules and agreements affecting businesses across different countries.

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NAFTA

A free trade agreement between Canada, Mexico, and the United States.

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EU (European Union)

A group of European countries working together on economics, social policies, and security.

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Costs of Regulation

The expenses businesses, consumers, and society face due to regulations. These costs include spending on administrative and staffing of regulatory agencies, and the burden on businesses to comply with regulations.

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Social Reasons for Regulation

Regulations are often enforced to address social concerns. These reasons include preventing negative consequences of marketing, promoting workplace equality, ensuring product safety, and protecting consumers and businesses online.

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Benefits of Regulation

Regulations can bring positive outcomes for individuals and society. These benefits include greater workplace equality, safer workplaces, resources for disadvantaged groups, safer products, more consumer information, and cleaner environments.

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RA 11232

The Revised Corporation Code of the Philippines of 2018, a law that governs corporations and their operations in the Philippines.

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Dynamic Technology

Technology is constantly changing and evolving, often challenging the existing social structures and institutions.

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Reach of Technology

Technology spreads widely through society, influencing different groups and aspects of life.

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Regulatory Reform

A process of changing existing regulations, often to address problems or improve efficiency. This can involve removing regulations, modifying them, or introducing new ones.

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Complete Deregulation

The complete removal of all regulations in a specific sector or industry.

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Technology

The use of knowledge, processes, and tools to solve problems, complete tasks, and create new ways to achieve desired outcomes.

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Genetically Modified Foods

Foods derived from organisms whose genetic makeup has been altered using biotechnology.

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Strategic Technology Assessment

A procedure businesses use to predict the impacts of new products and processes on their operations, other organizations, and society as a whole.

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Sustainability

The ability of the natural environment, including living things, to support long-term well-being for both nature and people.

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Atmosphere

The layer of gases that surrounds the Earth.

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Land Pollution

Contamination of the Earth's surface with harmful substances or waste.

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Waste Management

The collection, transport, processing, and disposal of waste materials.

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Deforestation

The clearing of forests for other uses, such as agriculture or development.

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Acid Rain

Rainwater that is made acidic by sulfur dioxide (SO2) and nitrogen oxides (NOX) from burning fossil fuels.

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Global Warming

A gradual increase in Earth's average temperature primarily due to greenhouse gases like CO2 and CFCs.

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Cap-and-Trade Program

A system that limits carbon emissions by allowing businesses or countries to buy and sell permits for emitting greenhouse gases.

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Water Pollution

The contamination of bodies of water with harmful substances, making it unfit for use.

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Water Quality

The overall condition of water based on chemical, physical, and biological characteristics, indicating its suitability for different uses.

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Solar Power

A renewable energy source that converts sunlight into electricity using photovoltaic (PV) panels or concentrated solar radiation.

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Nuclear Power

A non-renewable energy source that generates electricity through controlled nuclear fission, releasing energy from atoms.

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Responsible Competitiveness Index (RCI)

A framework that evaluates the business practices of companies to determine their contribution to corporate social responsibility, economic growth, and sustainability. The RCI helps companies improve their performance by prioritizing responsible practices.

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Global Development

Improvements in a country's economic, environmental, social, and health conditions, with a focus on achieving a higher standard of living and well-being for its citizens.

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Global Reporting Initiative (GRI)

A global organization that develops standards and guidelines for companies to report their economic, social, and environmental impact, promoting transparency and accountability.

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Risk Analysis

A process used to identify potential negative events that could impact organizations and the environment.

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GRI Standards' 6 Categories

The GRI standards cover six categories of sustainability reporting, which focus on economic, human rights, labor practices, environmental, product responsibility, and societal impacts.

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What are some business partnerships that focus on development?

There are various business partnerships aimed at promoting development. These include conventional business partnerships, corporate social responsibility partnerships, corporate accountability partnerships, social economy partnerships, and development efforts of countries.

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Biofuels

Liquid fuels and blending components made from biomass materials called feedstocks. They're often used for transportation, heating, and electricity generation.

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Hydropower

A renewable energy source that generates power using dams or diversions to control the flow of water.

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Cultural Intelligence

The ability to understand and effectively adapt to different cultures, organizations, and professional environments.

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Cognitive (Cultural Intelligence)

Knowledge about economic, legal, ethical, and social systems that exist in different cultures.

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Motivational (Cultural Intelligence)

The desire to learn about different cultures and subcultures, and the confidence to act effectively despite cultural differences.

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Behavioral (Cultural Intelligence)

The ability to use appropriate verbal and nonverbal communication when interacting with people from diverse backgrounds.

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Sustainability Issues

Challenges that businesses face related to environmental impact, social responsibility, and economic viability.

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Study Notes

Unit 8 - Legal, Regulatory, and Political Issues

  • Government's influence on business/cooperative
  • Rationale for regulation
  • Global regulation
  • Costs and benefits of regulation
  • Economic and competitive reasons for regulation
  • Social reasons for regulation
  • Level the playing field
  • Trusts
  • Monopoly: occurs when one business dominates a market
  • Avoid exploitation: trusts and monopolies restrict output, raise prices, or lower quality
  • Protect consumers: unfair competition is addressed, unethical business practices are regulated
  • Social reasons for regulation: undesirable marketing consequences, social equality responses, safer products
  • RA 7581: Price Act of 1992 (amended by RA 10623)
  • RA 7394: Consumer Act of 1992 (amended by RA 11706)
  • RA 8792: Electronic Commerce Act of 2000
  • RA 9520: Cooperative Code of the Philippines of 2008
  • Global Regulation: NAFTA, EU, APEC
  • Costs of regulation: direct costs & burden for businesses, consumers, and society
  • Benefits of regulation: greater equality in the workplace, safer workplaces, resources for disadvantaged, safer products, more choices among products, cleaner air/water
  • RA 11232: Revised Corporation Code of the Philippines of 2018

Characteristics of Technology

  • Dynamic, constantly changing social institutions
  • Reach, broad influence on society
  • Self-sustaining, catalysing faster development
  • Influence of technology: new jobs, better health, new opportunities, enriched lives, new challenges

Business Influence on Government and Politics

  • Corporate citizen
  • Corporate activist
  • Corporate tourist
  • Corporate colonialist
  • Monitoring of consumer prices
  • Environmental, waste management
  • Other regulatory compliance by companies (DENR)
  • ISO accreditation as a requirement for tender

Unit 9 - Technology Issues

  • Technology application of knowledge, processes, and applications to solve problems, perform tasks, and create new solutions

Unit 10 - Sustainability Issues

  • Sustainability: long-term well-being for all biological entities, nature and interactions among individuals/organizations/businesses

Atmospheric Issues

  • Atmosphere - mixture of gases
  • Air pollution: carbon monoxide, lead, oxides
  • Acid rain: SO2 and NOx are emitted
  • Global warming: increase in Earth's temperature due to greenhouse effects (CO2, CFCs)
  • Cap-and-trade program: sets carbon emission limits

Water Issues

  • Water pollution: harmful substances contaminate water bodies
  • Water quality: condition of water, with regards to suitability for use

Land Issues

  • Land pollution, waste management
  • Deforestation, urban sprawl

Environmental Legislation

  • RA 9003: Ecological Solid Waste Management Act of 2000
  • RA 8749: Philippine Clean Air Act of 1999
  • RA 7942: Philippines Mining Act of 1995
  • RA 7586: National Integrated Protected Areas System Act of 1992
  • RA 6969: Toxic Substances and Hazardous/Nuclear Waste

Alternative Energy

  • Wind power
  • Geothermal power
  • Solar power
  • Nuclear power
  • Biofuels
  • Hydropower

Unit 11 - Social Responsibility in a Global Environment

  • Cultural intelligence: ability to adapt to different cultures (national, organisational, professional)
  • Three components (cognitive, motivational, behavioral) of cultural intelligence: knowledge, desire to learn, and ability to act appropriately
  • Global stakeholders: employees, customers, shareholders, suppliers, community, and environmental groups

Fair Trade Principles

  • Market access for marginalized producers
  • Sustainable and equitable trading
  • Capacity building
  • Consumer awareness raising and advocacy

Responsible Competitiveness Index (RCI)

  • Developed to show support that increased competitiveness can be encouraged by corporate responsibility practices
  • Helps businesses improve performance, build economic competitiveness, social progress, and sustainability

Global Innovation Index (GII)

  • Ranking of countries based on innovation performance
  • Philippines ranking, data given in 2021, 2022, and 2023

Global Development

  • Development: improvement in the economic, environmental, educational, and health conditions of a country

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