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Questions and Answers
Which cluster does the Philippines belong to in the Responsible Competitiveness Index?
Which cluster does the Philippines belong to in the Responsible Competitiveness Index?
What does the Responsible Competitiveness Index promote among businesses?
What does the Responsible Competitiveness Index promote among businesses?
In which year did the Philippines rank 51 among 132 countries according to the GII?
In which year did the Philippines rank 51 among 132 countries according to the GII?
What types of partnerships are mentioned as part of global development efforts?
What types of partnerships are mentioned as part of global development efforts?
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What is the primary role of the Global Reporting Initiative (GRI)?
What is the primary role of the Global Reporting Initiative (GRI)?
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What is one purpose of regulation in business?
What is one purpose of regulation in business?
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Which of the following is a cost incurred by businesses due to regulation?
Which of the following is a cost incurred by businesses due to regulation?
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How does regulation benefit consumers?
How does regulation benefit consumers?
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What social demand does regulation respond to?
What social demand does regulation respond to?
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What is one characteristic of technology mentioned in the content?
What is one characteristic of technology mentioned in the content?
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Which of the following is a potential negative consequence of regulation?
Which of the following is a potential negative consequence of regulation?
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What does regulation aim to protect consumers from?
What does regulation aim to protect consumers from?
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Which of the following is an example of a benefit of regulation?
Which of the following is an example of a benefit of regulation?
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Which genetically modified crop is NOT available in the United States?
Which genetically modified crop is NOT available in the United States?
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What is a key aspect of Strategic Technology Assessment?
What is a key aspect of Strategic Technology Assessment?
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Which act focuses on ecological solid waste management in the Philippines?
Which act focuses on ecological solid waste management in the Philippines?
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Which of the following is NOT an environmental issue related to land?
Which of the following is NOT an environmental issue related to land?
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What term describes the potential for long-term well-being of the natural environment?
What term describes the potential for long-term well-being of the natural environment?
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Which of the following is an example of alternative energy?
Which of the following is an example of alternative energy?
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Which of the following accurately describes the atmosphere?
Which of the following accurately describes the atmosphere?
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Which act pertains to the regulation of hazardous substances in the Philippines?
Which act pertains to the regulation of hazardous substances in the Philippines?
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What is a primary cause of acid rain?
What is a primary cause of acid rain?
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Which of the following is considered a renewable energy source?
Which of the following is considered a renewable energy source?
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What are the main greenhouse gases contributing to global warming?
What are the main greenhouse gases contributing to global warming?
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What is the purpose of a cap-and-trade program?
What is the purpose of a cap-and-trade program?
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Which statement about wind power is NOT true?
Which statement about wind power is NOT true?
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What characterizes water quality?
What characterizes water quality?
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Why is geothermal power considered sustainable?
Why is geothermal power considered sustainable?
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Which technology is used in solar power for converting sunlight into electrical energy?
Which technology is used in solar power for converting sunlight into electrical energy?
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What is primarily assessed during a risk analysis?
What is primarily assessed during a risk analysis?
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Which characteristic is NOT true of biofuels?
Which characteristic is NOT true of biofuels?
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Which of the following statements is true regarding hydropower?
Which of the following statements is true regarding hydropower?
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What is the cognitive component of cultural intelligence?
What is the cognitive component of cultural intelligence?
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Which of the following best describes the motivational component of cultural intelligence?
Which of the following best describes the motivational component of cultural intelligence?
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What is a common misconception about biofuels?
What is a common misconception about biofuels?
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What does the behavioral component of cultural intelligence involve?
What does the behavioral component of cultural intelligence involve?
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Which of these is an advantage of using hydropower?
Which of these is an advantage of using hydropower?
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What is the primary purpose of the Price Act of 1992?
What is the primary purpose of the Price Act of 1992?
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Which act addresses the rights and responsibilities of consumers in the Philippines?
Which act addresses the rights and responsibilities of consumers in the Philippines?
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What is a monopoly?
What is a monopoly?
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Which organization comprises 27 European countries and governs common economic policies?
Which organization comprises 27 European countries and governs common economic policies?
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What key benefit does regulation provide in terms of competition?
What key benefit does regulation provide in terms of competition?
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Which act was passed to facilitate electronic commerce in the Philippines?
Which act was passed to facilitate electronic commerce in the Philippines?
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What is the primary function of the Asia-Pacific Economic Cooperation (APEC)?
What is the primary function of the Asia-Pacific Economic Cooperation (APEC)?
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Which of the following is a rationale for government regulation in business?
Which of the following is a rationale for government regulation in business?
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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
Government's Approach to Legal and Ethical Compliance
- 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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