Business Organization

Help Promote the common good and protect the rights and interest of individuals

business organizations

Is an active process which an integral part of Human Society.

Business

It involves significant operation such as buying, assembling, distributing, advertising, selling, and accounting.

business

Most business aim’s to earn?

profit

Refers to the difference between the amount received and the amount spent on something purchased, produced, or manufactured.

profit

Three types of business organizations

Service Business, Merchandising Business, Manufacturing Business.

Provide Service to customers rather than product.

service business

Sell to customers products they buy from other business.

Merchandising Business

Turn basic inputs into products which are sold to consumers.

manufacturing business

Forms of business organization

Sole Proprietorship, Partnership, Corporation

Three core principles

Fairness, Transparency, Accountability

This is a standard of Judging which is exempted from bias or prejudice.

Fairness

Means balancing the interest involved in all decision-making including those related hiring, firing, and the compensation and reward system.

Fairness

It has something to do with justice because the employer checks whether the members have the benefits and burdens distributed evenly to them.

Fairness

The most important aspect of preventing and detecting corruption is the sound?

Accountability

A civil society organization without proper systems of _ is fragile and open to rumors of mismanagement and abuse of authority.

Accountability

Worst of all, lacking it will prevent the organization from enjoying full respect and legitimacy in the eyes of its stakeholders, including those bearers of duties that it intends to advocate with.

Accountability

is the explication and justification process. It is about testing, forming a judgment, and taking an action if necessary. It also comes with responsibilities. Holding people to account for those actions which they are responsible for is fair.

Accountability

at the individual level, considers intrinsic or ethical salience as an important feature of the relational dimension of a person.

Transparency

It is described as a personal quality which is necessary to develop unity between and among individuals.

Transparency

helps people to consider how the actions of social organizations such as multinational agencies and non-governmental groups offer meaningful support to civil society and whether funding is being properly spent.

Transparency

is derived from the Greek word ethos

Ethics

ethos 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

Ethics are moral principles that guide the conduct of the individual

Racelis 2017

Examples of ethics in Business

Ethical Issues in Finance, Ethical issues in Human Resources, Ethical Issues in Sales and marketing, Ethical issues in

Under the umbrella of _ and accounting, fairness in trading practices, trading conditions, financial contracting, sales practices,conditions,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.

Ethical Issues in Finance

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

Ethical issues in Human Resources

deals with the beliefs, standards and/or morals that advertisers and marketing organizations will operate upon. 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. 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.

Ethical issues in Sales and marketing

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.

Ethical issues in Production

includes practices in pricing, which involves unlawful acts such as price manipulation and price skimming.

Ethical issues in marketing

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.

Hayes 2020

is a set of rules about good and bad behavior. It is a guide of principles designed to help professionals conduct business honestly and with integrity.

Code of Ethics

means something that you imagine a picture that you see in your mind

Vision

statement helps to ensure the alignment of the decisions to the company goals.

Vision

means something thought of as important or useful

Values

in business help to ensure that all of the employees work towards the company goals.

Values

a specific task with which a person or a group is charged

Mission

moral rules or beliets that help you know what is right and wrong and that influence your actions

Principles

is one of the few individuals whom one could say have shaped the cultural and intellectual development of the world for without him, history would be profoundly different.

Socrates (469-399) “The Gad-Fly of the Market Place”

"The unexamined life is not worth living." pointed out that human choice was motivated by the desire for happiness.

Socrates (469-399) “The Gad-Fly of the Marketplace”

is one of the world's best known and most widely read and studied philosophers. He was the student of Socrates and the teacher of Aristotle. He wrote in the middle of the 4th Century BCE in ancient Greece.

Plato “The Philosopher-King”

"Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws."

Plato “The Philosopher-King”

maintains a virtue-based eudemonistic conception of ethics.

Plato “The Philosopher-king”

That is to say, happiness or well-being (eudaimonia) is the highest aim of moral thought and conduct, and the virtues (arete: excellence) are the requisite skills and dispositions needed to attain it.

Plato “The Philosopher-King”

is a towering figure in ancien reek philosophy, contributing to logic, metaphysics, mathematics, physic biology, ethics, politics, agriculture, medicine, dance, and theater.

Aristotle (384-322) “All or Nothing”

"Happiness is the meaning and the purpose of life, the whole aim, and end of human existence."

Aristotle (384-322) “All or Nothing”

"Let people seek fulfillment."

Aristide (384-322) “All or Nothing”

The word happiness in ethics is a translation of the Greek term…?

Eudaimonia

Eudaimonia connotes?

Success and Fulfillment

He is one of the most influential philosophers in the history of Western Philosophy.

Immanuel Kant (1724-1804) “Duty Based Ethics”

He was not concerned with the consequences of one's actions or the harm caused to one's individual interests. Instead, he is focused on motives and the willingness of individuals to act for the good of others, even if the action might result to personal loss.

Immanuel Kant (1724-1804) “Duty of Ethics”

revolves around th oncept of "the end justifies the means". It believes that outcomes, as a result an action have a greater value compared to the latter.

Jeremy Bentham and John Stuart Mill “Utilitarianism”

is a philosophy or belief suggesting that an action is morally right when the majority of people benefit from it.

Utilitarianism