BUSINESS SECTION 2

Privacy Violation

The act of infringing upon an individual's right to privacy.

Ethical Responsibilities

The moral obligations that individuals or organizations have to act in a morally acceptable manner.

Impact on Users

The effects or consequences that certain actions or decisions have on the individuals who use a product or service.

Data Protection Laws

Laws and regulations that govern the collection, storage, and use of personal data to ensure the privacy and security of individuals.

Consumer Protection

Legal measures and regulations put in place to safeguard the rights and interests of consumers.

Criminal Activity

Any illegal or unlawful behavior that violates established laws and regulations.

Money Laundering

The process of disguising illegally obtained funds to make them appear legitimate.

Establishment of Businesses

The process of setting up and legally establishing a business entity.

Principles that must be adopted

The fundamental guidelines or rules that an organization should follow, including codes of ethics, environmental policies, and handling of personal information.

Consequences of Unethical Practices

The negative outcomes or results that can occur as a result of engaging in unethical behavior, such as misleading advertisements, tax evasion, pollution, and distortion in the national economy.

Internal Organizational Environment

The internal structure, roles, and relationships within an organization.

Manager

A leader responsible for organizing people, resources, and finances within an organization.

Management

The process of bringing together the factors of production to achieve organizational goals.

Functions of Management

The key activities involved in managing a business, including planning, organizing, directing, controlling, coordinating, delegating, and motivating.

Responsibilities of Management

The obligations that managers have towards owners/shareholders, employees, society, customers, and the government.

Definition of Concepts

Clear explanations of terms such as line of authority, hierarchy, silo, chain of command, span of control, tall organization, flat organization, and organizational chart.

Leadership

The ability to influence and guide others towards achieving organizational or team goals.

Character Traits

The individual qualities that contribute to a person's overall character.

Characteristics of Leadership

Desirable qualities or attributes of effective leaders, including honesty, flexibility, focus, trustworthiness, and the ability to make intelligent decisions.

Leadership Styles

Different approaches or methods that leaders use to lead and influence others, such as democratic, autocratic, charismatic, laissez-faire, and transformational.

Staff Relations and Management

The management of relationships and conflicts between employees and management.

Conflict

a disagreement between individuals, groups or organizations that has risen due to a difference in views and decisions made.

Internal Sources of Conflict

Factors within an organization that contribute to conflicts, such as poor working conditions, competition among employees, breakdown in communication, and unfair treatment.

Strategies used by Employers during Conflict

Actions or approaches taken by employers to manage or resolve conflicts, including lockouts, scab labor, and negotiation.

Strategies used by Employees during Conflict

Actions or approaches taken by employees to address conflicts, such as strikes, work-to-rule, go-slow, and picketing.

Conflict Resolution

The process of managing and resolving disagreements or disputes between parties to achieve a mutually satisfactory outcome.

Reconciliation

A conflict resolution method that involves both parties sacrificing some needs to reach a mutual agreement.

Avoidance

A conflict resolution method characterized by ignoring the issue to avoid engagement.

Trade Unions

Groups of workers that form unions to negotiate for improved wages, working conditions, and dispute resolution.

Grievance Procedures

The process used to address and resolve grievances or complaints raised by workers, typically involving trade union representatives and steps such as conciliation, mediation, and arbitration.

Guidelines for Establishing Good Relations between Managers and Employees

Recommendations for fostering positive relationships between managers and employees, including good communication, improving working conditions, motivating workers, and practicing good leadership.

Strategies for Motivating Employees

Approaches or methods used to inspire and encourage employees, including financial incentives and non-financial benefits.

Teamwork

a group of two or more people interacting and coordinating their work and ideas to accomplish a common goal or objective.

Advantages of Teamwork

The benefits or positive outcomes that result from effective teamwork, such as improved decision-making, increased productivity, continuity, motivation, and building good relationships.

Disadvantages of Teamwork

The drawbacks or challenges that can arise from teamwork, such as time-consuming decision-making and potential conflicts.