Course Code: ACC112 Student Activity Sheet Module # 8 Name: Lady Loreanne S: Valdez Class number: Section:4ssatc-ci-a. Schedule: Monty {0:00 ~ 12:00 Date: ee en TE Lesson title: Business Ethics Materials: Textbook: Corporate Lesson Objectives: Governance, Business Ethics, Risk At the end of this module, | should be able "* Management and Internal Control 1. Explain what is Business Ethics- its purpose, scope and 2019-2020 edition impact in different areas, References: 2. Explain ethical challenges in today's world. Attps://businessmirror.com.ph/2018 (02/13/ethical-challenaes-in- todays-world/ adyisers/adviser-tools/ethics-toolki htip://rulebook accaalobal.com httos:/www.indeed.com/career- advice/care development /professional-code-of- ethics https://www. oreilly.comflibrary/view fou Productivity Tip: After finishing this module, list down important concepts and terms that you remember. Do this for about 5 minutes. Compare your list to the module materials after and see what you got right or if you missed something A. LESSON PREVIEWREVIEW (5 minutes! 4) Introduction — Gathering Students’ Attention Activity 1: Game Starter Activity Mechanics: 4. Students are group into § members. Each group will select their leader. 2. All chosen leaders will come to the faculty and ask for the instruction. 3. Leader will go back to his members and discuss the instruction in 30 seconds. 4, The game will start and stop until the teacher told them to STOP. Instruction from Teacher: ‘Teacher will give the following instructions: The leader will discuss the mechanics of the game to its members. If his call how he will give instructions to her groupmate. They will make a chain out of the coupon bond paper each member using his one hand only. Group with the longest chain wins. Materials: ¥ scissors ¥ Coupon bond ¥ scotch tape Questions: This document is the property of PHINMA EDUCATIONCourse Code: ACC112 Student Activity Sheet Module # & Class number: Date: sho ethical condud of ite peopd - Ws eithe¢ Set os In addition to knowing its purpose, note that business ethics covers all conduct, behavior and judgement in business as it impacts economic, social, environmental and business managers. Below will show you how: *» Economic Impact — there is a positive social impact if company’s ¥ Pays fair wages and benefits to its employees. ¥ Paid suppliers feirly and on time. ¥ Delivers to customers a products and services of good value. “* Social Impact - Deterioration of ethical environment happened in cases.such as lobbying officials to receive favor, engaging in accounting fraud, corruption. Such practices may unfairly raise prices ‘of goods and services. Environmental Impact — Environmental protection is a key area of business influence on society. If a company implements environmental good practices like reducing waste and efficient use of energy, this will force competitors to do same actions. Impact on Business Managers - Managers are expected to act in the best interest of the company without compromising the company’s applicable laws and regulation, information rights of his superiors and subordinates and other stakeholders. The manager should: acknowledge that his role is to serve the business enterprise and the community. avoid all abuse of executive power for personal gain, advantage or prestige reveal the fact to his superior whenever his personal business of financial interest conflict with those of the company. . © be actively concerned with the difficulties and problems of subordinates, treat them fairly and by example, lead them effectively, assuring to all the right of reasonable access and appeal to superiors, recognize that his subordinates have a right to information on matter affecting them, and make provision for its prompt communication unless such communication is likely to undermine the security and efficiency of the business. fully evaluate the likely effects on employees and the community of the business plans for the future before taking a final decision and cooperate with his colleagues and not attempt to secure personal advantage at their ‘expense. ° jical or not includes the following:= Course Code: ACCT 12 student Activity Sheet Module # 8 Class number: __— Schedule: ae + Is itilegal? — If yes, itis likely to be unethical. * Does it agree with organization's code of ethics? * Does it agree with published code of Ethics? Activity 3 Think-Share Explain the need for business managers to act ethically. _ a che 1 Monagers need to act eticaily Somat the Licinece Wil gain Ree Fealbock ifrom tts Employees ancl costumers ~ Atce wranerfr | Ito Work woneti7 to iKsuptrior ov in the Company te Heid Froud anal abusing its power | LO2: Ethical Challenges in Today's World (15 minutes! 5 (Reference: Chapter 6, page 107-108) Ethical Challenges in Today's World > article written by Mercedes B. Suleik on February 13, 2018 > pronounced the inherent conflict between ethics and pursuit of profit. > Following are messages from Pope Francis that are cited in this publication: “Humanity is experiencing a tuming point in its history as can be seen from the advances occurring in the sciences and technology. We are in the age of knowledge and information and that this has led to new and offen anonymous kinds of power. We have today an economy of exclusion and inequality’. “tn a system that idolizes increased profit, everything that stands in its way is pushed aside. Behind this attitude lurks @ rejection of ethics. Ethics has come (o be viewed with derision as being + counterproductive. Ethics is felt to be a threat because it condemns manipulation and debasement of the person and that ethics leads to a call for 2 committed response, which is outside of the categories of the marketplace’. How Ethics Can Make Corporate Governance More Meaningful? 1. Corporate Governance is meant to run companies ethically in a manner such that all stakeholders- creditors, distributors, customers, employees, and even competitors, the society at large and government — are dealt with in a fair market. 2. Good corporate governance should look at all stakeholders and not just shareholders alone. Now that you know how ethics in workplace affects the society as a whole, you have to understand the fact that there are no uniform standards of right and wrong from which all business. may base their This document is the property of PHINMA EDUCATION CO a& RuaNMA EDUCATION Course Code: ACC112 aN Student Activity Sheet Module # 8 Class number: ____ Date: Name: Section: Schedule: jowadays. The exist, That is the challenge n¢ mitted actions, Thus, conflict between ethics and pursuit of profit business, You will know how it is com Next module will look at the common unethical practices of by different stakeholders. Activity 4 Think and Share Described the inherent conflict between ethics and purs [ln the cayjing tmOney 16 Fhe FOr OF Aree * oiogpei e@ a inherent ¢ 3 behveay ethics cine puscit OF Ri a re eee rae one ope Se : re alnder tp aobhee Agave C ere WA Ghee te Teens a thea od Gos l Activity 5, BUSINESS ETHICS CASE STUDY Case Study: Purchasing Ethics by Doug Carter Electronics Technology sity and he and his family made a permanent move. ident, overseeing the purchasing department of the jes at Tiddley Computer Corporation JLR. accepted a position at Cripple Creek Vocational Uni Soon, J.R. was promoted to Administrative Vice Presi University. His oldest son, Jim, got a good job in educational equipment sai in Fort Worth As Vice President, J.R. quickly saw the need for 4 to 5 computers in his office. Although CCVU had a bidding policy, JR. purchased Tiddley Corporation's computers direct from Tiddley for about $3500 each, when ISM eones were seling for around $2000 and the clone had more promising features than the Tiddley, Jim handled sale. Ifthe purchase had gone through the normal bidding the sale and received a healthy commission on ths process, the TC model would not have been selected. Tiddley's local Cripple Creek franchise dealer objected to Tiddley Corporation that his protected franchise had been bypassed in the deal. Questions: 1. Since J.R. was over the purchasing department and had final decision authority, should purchasing have gone through the normal bidding routine? Ig it acceptable for a V.P. to bypass the normal routine to do business with a family member? Was J.R.'s decision not to request bids an ethical choice? What should the college purchasing agent do? Should anyone else at CCVU have any interest in this activity? Has Tiddley’s Cripple Creek franchise owner been wronged? Should Jim have made the sale? Received a commission? 23 a 4. * 6. 7. This document is the property of PHINMA EDUCATION