Busnie midterm

Ethics

Set of  moral principles or values

-Right or Wrong

- How people should behave

Code of Ethics

Formal document that states an org’s primary values and ethical rules it expects the employees to follow

Ethical Relativism

Choices based on what seems reasonable or logical (personal value system)

Values

Goals, ideas, beliefs or opinions people care about, personally

Virtues

traits or qualities considered morally good (behavior)

Result of achieving values; observed and experienced

1. humility

2. faith

3. honesty

Soft Virtues

Humility

free from egotism and arrogance

Faith

honest, fair, and trustworthy dealings in contractual business relationships and agreements

Honesty

being truthful and transparent in all aspects of your business

1. Discipline

2. Perseverance

3. Courage

Hard Virtues

Discipline

Does all the good one can do

Perseverance

Keep asking, seeking, knocking

Courage

Endure danger and difficulty

Human Dignity

Sacredness or value of each person as an end

Moral Principles

model principles and beliefs

Professional Ethics

Set of moral principles self-imposed by professionals even above requirements of the law

Business Ethics

examines ethical principles and moral/ethical problems in a business environment

1. Diversity & Inclusion

2. Anti-corruption Measures

3. Social Responsibility

4. Transparent Accounting

5. Fair Labor Practices

6. Environmental Responsibility

Business Ethics

1. Trustworthiness

2. solidarity

3. fairness

4. equality

5. caring

6. dialogue

7. loyalty

8. honesty

9. integrity

10. promise keeping

11. concern for others

12. respect for others

13. law abiding

14. community and envionmental responsibility

15. personal responsibility

16. representative or official responsibilities

17. personal loyalties

18. corporate responsibilities

19. organizational loyalties

20. Economic Responsibilitties

21. Technical morality

22. Legal Responsibilities

22 Types of Business Ethics:

Trustworthiness

being honest, reliable and keeping promises

Solidarity

Supportive workplace, teamwork

Fairness

treating people without favoritism

Equality

Same rights, opportunities, and treatment

Caring

showing concern, compassion, and responsibility for others

Dialogue

being open and respectful with communication that fosters understanding and cooperation

Loyalty

Faithful, committed, and dedicated

Honesty

truthful, transparent, and sincere

Integrity

doing what’s right even when no one is watching

Promise-Keeping

staying true to your word

Concern for Others

caring about the well-being of others

Respect for Others

treating people with dignity and respect

Law Abiding

following the rules and regulations

Community and Environmental Responsibility

making a positive impact on society; charity, jobs, education, welfare

Personal Responsibility

being accountable for own actions

Representative or Official Responsibilities

obligations they hold when representing an org, grp or gov body

Personal Loyalties

deep sense of commitment, support, and allegiance towards a specific entity.

Corporate Responsibilities

obligations towards stakeholders

Organizational Loyalties

sense of support for the org’s mission, values, and successes

Economic Responsibilities

production of goods and services that society wants at a price that perpetuates the business and satisfies its obligations to customers

Technical Morality

Proper use of technology

Legal Responsibilities

Obedience to Laws

ethical responsibilities

Meeting other expectations not defined by law

Accountability

Expectation that employees would perform a job, take corrective action, and report upward on their performance

Social Responsibility

Distinguishing right from wrong and doing right

Corporate Social Responsibility

Long term businesses are best served when its profitability and growth are accomplished with the development of communities, protection, and sustainability of the environment with the improvement of people’s quality of life

Business

Org or economic system where goods and services are exchanged

Business Organizations

group of people that work together to achieve a common goal

1. Sole Proprietorship

2. Partnership

3. Cooperative

4. Corporation

Legal Forms of Business Organizations:

Sole Proprietorship

Run by at least 1 person in his/her name

Partnership

2 or more people who contribute money, property or industry to a common fund; divide profits among themselves

cooperative

Autonomous and registered voluntary association of people with common interest to attain a certain end

corporation

Artificial Being created by operation of Law; Right of succession in powers, attributes, and properties

Psyche

Totality of mind; soul, body, and spirit

Filipino Society

melting point of various cultures and people (colonization)

Austronesian

Group of languages and people who originated in taiwan, and spread throughout indo pacific.

Settled in the Ph 4,000 years ago

Javanese

native to central and eastern part of indonesian island, java

Religion

System of beliefs, practices, and values; from supernatural or divine entities

Exogenous

Foreign model; Filipino psyche

Indigenous

Traditional model

1. Loob/kalooban

2. Kapwa

3. Utang na Loob

4. Kasamaang Loob

5. Guanxi

6. Hiya

7. Mukha

8. Bahala na/que sera sera

9. suki

10. manana habit

11. amor proporio

12. padrino system

13. pakikisama

14. palabra de honor

15. bayanihan

Filipino Values

loob/kalooban

One’s inner self/real self(person’s identity)

Psycho-moral reality of Filipinos(personality, morals, character, behavior, etc.)

Kapwa

Togetherness of a community

Utang na Loob

obligation to return a favor(death of gratitude)

Kasamaang Loob

the one who pays the debt may suffer, and pass it down to their offsprings

Guanxi

Returning a favor ONLY

Hiya

shame/shy/embarrassed; damaged dignity

Mukha

Self worth; reputation or image

Bahala na or Que Sera Sera

fatalistic attitude

Causes lack of urgency and responsibility

Openness to opportunities(taking risk)

Suki

comes from chu-kheh

Guest of honor

Manana Habit

Habit of postponing activities to the next day (procrastination)

Amor Proprio

Influences how we interact with others and view ourselves (Pride)

Self-respect/worth, setting boundaries

Padrino System

Patronage; A person gains favor through recommendation (nepotism or cronyism)

Pakikisama

Having an interpersonal Relationship where people are friendly with each other

Palabra de Honor

Unwritten promise; upholding promises without legal documents

Bayanihan

Unity, trust and support. Stronger bonds and relationships with the community