Explain the importance of understanding the communication process.
What will be an ideal response?
*Efficient communication leads to better functioning of organizations, which benefits both employees and
customers
*Inside the organization, effective communication must also take place within and among peer groups
and between different hierarchical levels
*One of the most important roles of a manager is to encourage and nurture a collaborative working
environment by effectively communicating with teams to ensure tasks are accomplished and
organizational goals achieved
*If one has an understanding of the process, then one can determine the cause of breakdowns with that
process and can easily adjust the communication
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Which of the following statements correctly describes the relationship between philosophical ethics and ethos?
A. What people do value and should value is, for all practical purposes, the same. B. Philosophical ethics is too abstract to be useful in everyday life situations. Following the mores and customs of one's culture is a more dependable way to make moral decisions. C. Individuals who obey the conventions, mores, and rules of their cultures are already acting ethically. No further philosophical reflection is required. D. Philosophical ethics distinguishes what people do value from what they should value.
Which of the following is/are not true?
a. Firms accumulate information about revenues and expenses during a reporting period to enable the preparation of the income statement. b. Net income for a period increases net assets (assets minus liabilities) and retained earnings. c. Net loss for a period reduces net assets (assets minus liabilities) and retained earnings. d. Net income for a period increases the amounts in Common Stock and Additional Paid-In Capital, a common practice among publicly traded firms. e. none of the above
The telephone has proven to be a good method of making appointments, keeping customers informed, and expressing appreciation, but it is an ineffective tool for building customer goodwill
Indicate whether the statement is true or false
Link negligently ran his car into John, causing $50,000 in injuries. Link was intoxicated at the time of the accident. Can Link discharge this debt in bankruptcy?
a. Yes, claims based on negligence are dischargeable. b. Yes, as long as he didn't intend to hit John's car. c. No, such claims are not dischargeable in bankruptcy. d. No, because Link breached a fiduciary duty.