Rey Julius M.

Balatay ABM 12-B

BUSINESS ETHICS

1. THE ROLE OF BUSINESS IN SOCIAL AND ECONOMIC

DEVELOPMENT
A. The Nature and Forms of Business Organizations
i. Sole Proprietorship – A business that is owned by one person only.
1. Happy “School and Office Supplies”
2. Paper Hauz
ii. Partnership – A business owned by two or more person.
1. i-Image
iii. Corporations - A body formed and authorized by law to act as a single person
although constituted by one or more persons and legally endowed with
various rights and duties including the capacity of succession.
1. Metro Bank
2. PNB
B. Core Principles
i. Fairness – Refers to equal treatment to employees
ii. Accountability – The obligation and responsibility to give an explanation or
reason for the company’s action.
iii. Transparency – A principle of good governance that refers about the
openness of the company in providing clear information of the company’s
activity to the employee.
C. Common Practices in Business Organizations
i. Decorum – Refers to dressing properly, gestures, and facial expressions for
meetings.
ii. Protocol – Unwritten rules and guidelines that are peculiar to every culture
organization.
iii. Policy – Guidelines developed to govern its action. It defines the scope or
spheres within which decisions can be taken by the subordinate in the
organization.

2. FOUNDATIONS OF THE PRINCIPLES OF BUSINESS ETHICS

A. Classical Philosophies “Virtue & Ethics”
i. Socrates
ii. Plato
iii. Aristotle
 iv. Confucius
B. The Impact of Belief Systems
i. Buddhism
ii. Islam
iii. Christianity
C. The Filipino Value System
i. Good
1. Pakikisama
2. Pakikitungo
3. Utang na loob
ii. Morally Unaccepted
1. Mañana
2. Siya kasi
3. Bahala na
4. Ningas-Cogon