Mr. Yee Shong Secondary Classes Taylor’s Private Academy 1/06/23 POB Midterm Section A Read each question and follow all instructions. 1. What does it mean when a business is not operating in an ethical or moral way? 2mks _____________________________________________________________________________________ _____________________________________________________________________________________ ____________________________________________________________________________________. 2. A law-abiding business is always an ethical business. Is this True or False? State why. 2mks _____________________________________________________________________________________ _____________________________________________________________________________________ ____________________________________________________________________________________. 3. An ethical and law-abiding business will be one that is set up for honest business purposes . Some businesses fail to meet the "honesty" requirement. Give three examples of this below :6mks (about 20 words per example) _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ 4. How can business owners ensure that they are not participating in unethical or illegal activities? Give a short explanation on how you would ensure that your business is abiding by the law and not engaging in immoral activities. 4mks _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Mr. Yee Shong Secondary Classes Taylor’s Private Academy 1/06/23 5. Name and describe the three major principles we have gone over which businesses must be aware of when operating their businesses. 6mks _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ 6. a) Describe three examples of a business behaving LEGALLY but could do more to be considered ETHICAL. 6mks _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ b) Describe the difference between ethical and unethical behavior. 3mks _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ 7. Describe in DETAIL what Money Laundering is and how business owners can avoid money laundering taking place in their business practices. 6mks _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Mr. Yee Shong Secondary Classes Taylor’s Private Academy 1/06/23 8. The functions of management are what managers do such as: Physical labor, Walking around making sure employees are working, Ensuring every single task is done individually. Is this True or False? State why or why not. 3mks _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ ____________________________________________________________________________________. Section B 1. There are many dozens of careers in the world of business that may interest a young entrepreneur… i. ii. iii. Advertising and Public Relations Educators (Business Coaches) Web Designers (Creating web pages for businesses) (8 mks) And many more. Write a short passage on how being mindful of proper, ethical and legal business practices and behaviors can improve the chances of success of a business in the above fields. Keep in mind how the public views a business that engages in unethical activity vs one that does not. _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ 2. There are 7 main functions of a manager or management in a company or business and they are broken down into the acronym P.O.D.S.C.O.R.N. Planning, Organising, Directing, Controlling, Coordinating, Delegating, Motivating. 12mks Identify three of the above functions of management that are very closely related, describe them with the help of examples. Eg. An electronics company receives feedback from a customer about a product or service that requires urgent attention. This information makes its way to management who would perform their job via the above functions to see that this information is addressed. Break down each step! _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Mr. Yee Shong Secondary Classes Taylor’s Private Academy 1/06/23 _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________
