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BESR Lesson 3 (Part 1)

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10 views

BESR Lesson 3 (Part 1)

123

Uploaded by

Jassen Manalili
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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BUSINESS ETHICS & SOCIAL

RESPONSIBILITY

Code of Ethics
in Business
(Part 1)
Time to Review!!
Directions: Analyze each situation and
identify what core principle is applied.

Your choices:
A. fairness
B. accountability
C. transparency
Time to Review!!
Situation 1
The treasurer of a cooperative withdrew
P20,000 cash from a bank. On her way to the
office, she passed by the public market and
since it was market day, there were a lot of
people in the area. A man suddenly snatched
her bag where the money was placed.
Although shocked and sad, she promised to
pay the P20,000 through salary deduction.
Time to Review!!

Situation 2
The manager of the company ordered
materials for their office extension.
He/she declared the actual amount
and attached the official receipt for
future reference.
Time to Review!!

Situation 3
The boss noticed that his/her two
clerks were not talking to each other.
He/she ordered the two to come to
his/her office one at a time to listen to
both sides before he/she decides.
Time to Review!!

Situation 3
The boss noticed that his/her two
clerks were not talking to each other.
He/she ordered the two to come to
his/her office one at a time to listen to
both sides before he/she decides.
What’s New?
Chona opened an online food service for an
additional income. She hired one female helper
in the kitchen and two delivery boys. The
business was doing very good for a month. But
one day, she got a call from an online client
complaining that the food delivered to her was
already spoiled and could not be eaten. He/she
was demanding for a refund.
If you were Chona, how would you handle the
situation?
Definition of Ethics
The term Ethics is derived from the Greek
word ethos which means “characteristic
way of thinking”. Ethics, as a science,
does not only evaluate the morality of our
human conduct but also provides us with a
common understanding of the universal,
objective, and irreversible moral principles
that should govern our human behavior
and guide our moral decisions (Roa,
2011).
Definition of Ethics

Ethics are moral principles that guide


the conduct of the individual (Racelis,
2017). These are rules of behavior
based on ideas about what is morally
good and bad (Merriam-Webster
Dictionary).
Why is ethics important in
business?
Ethical conduct, whether at the corporate,
professional, or personal level, is a direct
reflection of the principles and values which
regulate the person and the institution he/she
represents. Organizations establish their own
culture that is socially expressed as their
ideals. Such principles or ideals have an
impact on the relationships within the
company, efficiency, prestige, performance
and retention of employees, legalities, and the
wider community they work in.
Why is ethics important in
business?
As a result, most organizations generate
a list of organizational values and codes
of conduct to be recognized and
adhered by all workers. Motivating and
enhancing constructive actions, and at
the same time building an atmosphere
that prevents unethical behavior are
vital obligations on the part of both
administrators and workers.
How to Apply Ethics?
At the individual level, organizations ought
to concentrate on improving and
encouraging every employee to respect and
adhere to ethical principles. Certain aspects
of individual ethics have their roots in the
individual. Achieving a strong sense of
professionalism and recognizing certain
professional decisions' ethical implications
are the key components of education,
individual reflection, and experience.
Examples of Ethical Issues in
Business
1. Ethical Issues in Finance
2. Ethical Issues in Human Resource
Management
3. Ethical Issues in Sales and
Marketing
4. Ethical Issues in Production
Examples of Ethical Issues in
Business
1. Ethical Issues in Finance
Under the umbrella of finance and accounting,
fairness in trading practices, trading
conditions, financial contracting, sales
practices, consultancy services, tax payments,
internal audits, external audits, and executive
compensation are included, whereas specific
corporate ethical/legal abuse includes insider
trading, bribery/kickbacks, misleading
financial analysis, and fraud on securities.
Examples of Ethical Issues in
Business
2. Ethical Issues in Human Resource (HR)
Management
Human Resource Management 's tasks include
hiring and orientation, performance evaluation,
training and development, labor relations, and
health and safety concerns. Among the ethical
issues are discrimination by age (the young ones
are preferred over the older ones), gender
preference, sexual orientation, race, ethnicity,
disability, and physical appearance are all ethical
issues that the HR oversees.
Examples of Ethical Issues in
Business
3. Ethical Issues in Sales and Marketing
Marketing ethics deals with the beliefs, standards
and/or morals that advertisers and marketing
organizations will operate upon. Ethical marketing
issues include promotion of obsolete or harmful
products/services; openness about environmental
threats; food ingredients (Genetically Modified
Organisms); possible health hazards or financial
risks; protection for the privacy and autonomy of
consumers; truthfulness in advertising; and
honesty in price and delivery.
Examples of Ethical Issues in
Business
3. Ethical Issues in Sales and
Marketing
Some claim that advertisements can
affect the views of individuals and
their relationships with others,
suggesting an ethical obligation to
avoid distorting those expectations
and relationships.
Examples of Ethical Issues in
Business
3. Ethical Issues in Sales and Marketing
Ethics in marketing includes practices in pricing,
which involves unlawful acts such as price
manipulation and price skimming. According to
Hayes (2020), price skimming is a product
pricing strategy by which a firm charges the
highest initial price that customers will pay and
then lowers it over time. On the other hand,
advertising has raised concerns over offensive
advertisements, objectification, and school
marketing.
Examples of Ethical Issues in
Business
4. Ethical Issues in Production
Business ethics typically deals with company's
duties to ensure its goods and industrial
procedures do not inflict unnecessary harm. Many
products and services can be generated and used
at zero risk and it can be difficult to assess the
ethical path. However, there are consumers who
patronize products that damage them, for example,
tobacco products. Output can have adverse effects
on the environment like air pollution, destruction of
habitats, and urban sprawl.
What’s More?
Classify each situation on which ethical
issue is concerned:
1. destruction of habitats
2. encountered misleading financial
reports
3. overweight applicants are not allowed
4. hiring limited to religious affiliations
5. honesty in prices
What’s More?
Classify each situation on which
ethical issue is concerned:
6. truthfulness in advertising
7. fraud on securities
8. harm to environment
9. manipulation in prices
10. exaggerated advertisements
Do you have
any question?

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