Entrepreneurial Responsibilities and Accountabilities

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What is the primary focus of business ethics in the workplace?

Maximizing profits
Increasing employee productivity
Complying with government regulations
Doing what is right and fair (correct)

What is the obligation of entrepreneurs to demonstrate compliance with agreed rules and standards?

Responsibility
Liability
Authority
Accountability (correct)

Why are employees considered the true assets of an organization?

Because they are the largest expense
Because they are easy to manage
Because they contribute effectively to the success of the business (correct)
Because they are always loyal

What is the responsibility of entrepreneurs to their creditors?

To provide them with timely and accurate financial reports (A) Signup and view all the answers

What is the key aspect of an entrepreneur's relationship with the government?

Tax compliance (A) Signup and view all the answers

What is the ultimate goal of corporate governance in an entrepreneurial organization?

To ensure accountability and transparency in all business operations (C) Signup and view all the answers

What is the primary reason for involving embassies, government agencies, or diplomatic services in resolving issues with overseas guests or colleagues?

To facilitate communication and diplomacy (A) Signup and view all the answers

What is the main objective of implementing a code of conduct in business operations worldwide?

To foster respect for human rights (C) Signup and view all the answers

Why is it important to recognize and reward employees for their accomplishments?

To boost employee morale and esteem (B) Signup and view all the answers

What is the significance of providing fringe benefits to employees in the Philippines?

It is a mandatory requirement by the Labor Code (C) Signup and view all the answers

What is the primary purpose of gathering data from the labor market on a regular basis?

To adjust reward structures competitively (D) Signup and view all the answers

What is the potential outcome of providing rewards and benefits to employees?

Improved employee morale and productivity (A) Signup and view all the answers

What is the primary benefit of providing employment security to employees?

Sense of satisfaction among employees leading to higher commitment (C) Signup and view all the answers

What is the primary purpose of taxes imposed by the government on entrepreneurs and businesses?

To raise financial resources for the government (B) Signup and view all the answers

What is a key responsibility of entrepreneurs towards the government?

Complying with government rules and regulations (A) Signup and view all the answers

Why is it important for entrepreneurs to maintain a positive relationship with the government?

To ensure balanced and rapid economic development (C) Signup and view all the answers

What is an example of an entrepreneur's social responsibility towards the government?

Paying taxes to support government programs (D) Signup and view all the answers

What is a potential consequence of non-compliance with government rules and regulations?

Legal action and penalties (B) Signup and view all the answers