Gift and Hospitality Issues : What You Need to Know

The video tutorial discusses the importance of understanding and adhering to company gift-giving policies. It outlines six key considerations for accepting gifts, such as cost, frequency, and relationship. The tutorial differentiates between acceptable and unacceptable gifts, emphasizing the principle of nominal value. It also provides guidelines for handling gifts from suppliers and vendors to avoid conflicts of interest. Finally, it addresses the complexities of international gift-giving, highlighting the need to balance company standards with cultural practices while complying with international laws.

What is the primary focus when identifying your company's gift-giving policies?

• The type of wrapping paper used

• The dollar amount and restrictions for gifts

• The color of the gift

• The size of the gift

Which of the following is NOT a consideration when evaluating a gift?

• Exclusivity

• Color

• Frequency

• Cost

What should you do if you frequently receive gifts from the same person?

• Return them immediately

• Accept them without question

• Be cautious and evaluate the situation

• Ignore them

Which of the following is considered an acceptable gift?

• Inter-city travel paid by a vendor

• A fruit basket during holidays

• Exclusive discounts

• Cash

What is the principle of nominal value in gift-giving?

• Gifts should be exclusive

• Gifts should be personal

• Gifts should have promotional value

• Gifts should be expensive

Why should gifts from suppliers be approached with caution?

• They are always inappropriate

• They are always acceptable

• They can influence purchasing decisions

• They are always expensive

What should be considered when giving or receiving gifts in international business?

• The company's standards and cultural practices

• The color of the gift

• The size of the gift

• The wrapping paper used