Socratic Method in Business
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Questions and Answers

What should be done when entering a meeting room according to the text?

  • Greet the most elder figure first (correct)
  • Start negotiating right away
  • Exchange business cards immediately
  • Shake hands with everyone present
  • What does the greeting 'Namaste' involve according to the text?

  • Bowing and bringing palms together before the heart (correct)
  • Shaking hands
  • Hugging
  • Waving hello
  • Based on Hinduism's Four Noble Truths, what causes suffering according to the text?

  • Following the Eightfold Path
  • Life is full of pain
  • Having human desire (correct)
  • Ending desire
  • What is prohibited in business practices according to the text?

    <p>Using high-pressure tactics during negotiations</p> Signup and view all the answers

    Which symbol represents the endless cycle of life through reincarnation in Buddhism according to the text?

    <p>The Wheel of Life</p> Signup and view all the answers

    What is emphasized as a must for any organization based on the text?

    <p>Practicing loving kindness, justice, and righteousness</p> Signup and view all the answers

    What is the key advantage of a virtual assistant partnership?

    <p>Access to greater amounts of capital</p> Signup and view all the answers

    Which type of business entity is known for being the least costly among all forms of ownership?

    <p>Sole proprietorship</p> Signup and view all the answers

    What characteristic distinguishes a corporation from a sole proprietorship?

    <p>Has separate legal personality from owners</p> Signup and view all the answers

    Which form of business ownership typically requires developing a partnership agreement?

    <p>Virtual assistant partnership</p> Signup and view all the answers

    What is a key advantage of a cooperative society mentioned in the text?

    <p>Limited liabilities for the members</p> Signup and view all the answers

    What is a significant advantage of a corporation over a sole proprietorship?

    <p>Separate legal personality from owners</p> Signup and view all the answers

    Which business entity requires at least 5 natural persons and not exceeding 15 persons as incorporators?

    <p>Corporation</p> Signup and view all the answers

    Why might the financial strength of a cooperative society be limited?

    <p>Excessive state regulations</p> Signup and view all the answers

    What is a disadvantage of a cooperative society's management structure?

    <p>Members often lack managerial and special skills</p> Signup and view all the answers

    How are products typically sold by cooperative societies to outsiders?

    <p>In cash transactions only</p> Signup and view all the answers

    What happens if a cooperative society member becomes permanently incapable?

    <p>The society dissolves automatically</p> Signup and view all the answers

    How do government regulations affect the rate of return for cooperatives?

    <p>Limit returns to strengthen sustainable growth</p> Signup and view all the answers

    What does Tao mean?

    <p>The way of life</p> Signup and view all the answers

    According to Taoism, what does the Yin-Yang symbol illustrate?

    <p>Natural harmony</p> Signup and view all the answers

    What is one of the Five Pillars of Islam related to praying?

    <p>Praying five times a day facing Mecca</p> Signup and view all the answers

    What is the basic Confession of Faith in Islam?

    <p>There is no God but Allah, and Mohammed is His prophet</p> Signup and view all the answers

    What does the Five Pillars of Islam emphasize during Ramadan?

    <p>Fasting during daylight hours</p> Signup and view all the answers

    What principle is emphasized in business practices related to committing to excellent service and products?

    <p>Glorifying God through excellent service and products</p> Signup and view all the answers

    What is the main purpose of the Socratic method as described in the text?

    <p>To encourage open-minded questioning of personal beliefs</p> Signup and view all the answers

    How can entrepreneurs benefit from applying the Socratic method in their endeavors?

    <p>By questioning assumptions and exploring their own purpose for learning</p> Signup and view all the answers

    In the context of business ethics, why should managers not simply go along with the crowd?

    <p>To prevent morally unacceptable policies and practices</p> Signup and view all the answers

    What qualities are highlighted as important for a good manager in the text?

    <p>Functionally relevant set of virtues for personal success and moral excellence</p> Signup and view all the answers

    Why is it important for an organization to encourage independent thinkers according to the text?

    <p>To create opportunities for good people to report bad behaviors</p> Signup and view all the answers

    Who was Plato's teacher, as mentioned in the text?

    <p>Socrates</p> Signup and view all the answers

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