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Questions and Answers
Which one of the following is a common business principle mentioned in the text?
Which one of the following is a common business principle mentioned in the text?
- Strict dress code policy
- Discriminatory hiring practices
- Cutting corners for profit
- Responsible employment practices (correct)
What does integrity mean?
What does integrity mean?
- Ignoring the needs of clients and shareholders
- Being open, honest, and responsible (correct)
- Being dishonest and immoral
- Implementing low standards of responsibility
What is the importance of establishing trust in the world of work?
What is the importance of establishing trust in the world of work?
- It is a waste of time
- It is not important
- It is essential for business success (correct)
- It helps in manipulating others
Who are some of the stakeholders that businesses should demonstrate integrity towards?
Who are some of the stakeholders that businesses should demonstrate integrity towards?
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What are business principles?
What are business principles?
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Study Notes
Business Principles and Integrity
- Integrity is a common business principle that refers to the quality of being honest and morally upright, ensuring consistency in words and actions.
Importance of Establishing Trust
- Establishing trust is crucial in the world of work as it fosters a positive and productive work environment, leading to strong relationships with stakeholders.
Stakeholders of Business Integrity
- Businesses should demonstrate integrity towards various stakeholders, including customers, employees, investors, suppliers, and the community at large.
Definition of Business Principles
- Business principles are fundamental values and guidelines that guide an organization's behavior, decision-making, and actions, shaping its culture and reputation.
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