Author: Kanin(rays)

employees under common goals and ensure

BUSINESS ETHICS that tasks are executed to the preferences
Common Practices in Business of the company's owner.
Organization
A. DeCORUM 4. INTERNATIONAL BUSINESS PROTOCOL
1. On time and Promptness o When doing business in a foreign country
2. On preparation executives and managers need to have some
3. On Agenda knowledge of the rules and behaviors that
4. On attire and appearance are considered acceptable in social and
5. On Decorum professional relationships.
6. On basic courtesy and respect
7. On greetings Some aspects related to international business protocol
8. On handshakes are:
9. On body language
10. On formal and informal address 1. Greetings and Introductions
11. On speaking in meetings 2. Names and Titles
12. On listening 3. Organizing Meetings
13. On cell phones and laptops 4. Punctuality and Time
14. On business or visiting cards 5. Business Cards
15. On breaks 6. Preliminary Conversations
16. On appropriate communication 7. Verbal Communication
17. On bargaining 8. Non-verbal Communication
18. On bringing in guests 9. Business Meals
19. On building relationships 10. Gift Giving
20. On business meals and recreation 11. Tipping Tips
21. On gift-giving 12. Business Attire

B. PROTOCOL 5. EXAMPLE OF PROTOCOLS IN PHILIPPINES BUSINESS

o Protocol means the unwritten rules or a. Filipino family-modeled business

guidelines that are peculiar to every culture or
organization, and are supposed to be observed
by all parties in the conduct of business,
entertaining, negotiating, politics, etc.
1. THE BASICS OF PROTOCOL
✓ To encourage all employees in a company to
act in a uniform manner.
✓ Helps to ensure that all employees
understand their role in the company, the
task and challenges they f ace, and how to
execute them as quickly and accurately as
possible (Monet, 2016)
2. TRAINING IN PROTOCOL
✓ A business may provide business protocol
and etiquette training for its employees.
3. BENEFITS OF PROTOCOL
✓ Business protocol helps present a uniform,
professional face to the crowd, to partners
and donors. Business protocol may unite
• The boss plays a paternalistic r ole and heads
a hierarchical management. In this type of
business world, which is prevalent in most
Southeast Asian countries, a high status,
mutual respect, and a good reputation are
essential to success.
b. Business is personal
• The Philippine business environment is
highly personalized and it is good to deal
with business matters on a face -to-face
basis. In the Philippines, doing business is a
highly personal endeavor. In the Philippines,
successful business relationships are based
on personal interac tion and trust.
c. Status-conscious
• Filipinos are very status -conscious, and the
use of formal titles is an important way of
showing respect to your business partners
and colleagues.
d. Politeness and Ambiguity Filipinos

1
 Author: Kanin(rays)
• For Filipinos, the word "no" is almost non -
existent. In a Western setting, it' s usually
pretty clear when the other part y isn 't
interested in your proposal . Given the
culture value of pakikisama and the
importance of maintaining social harmony,
disagreement or interpersonal tension of
any sort is distasteful.
C. Policies
o Business policy defines the scope or spheres
within which decisions can be taken by the
subordinates in an organization.
1. Features of business policy
a. Specific
b. Clear
c. Reliable/Uniform
d. Appropriate
e. Simple
f. Inclusive/Comprehensive
g. Flexible
h. Stable
1. Difference between Policy and Strategy The term
"policy" should not be considered as synonymous
with the term "strategy." The difference between
policy and strategy can be summarized as follows:
a. Policy is a blueprint of the organizational
activities which are repetitive/routine in
nature. While strate gy is concerned with
those organizational decisions which have not
been dealt/faced before in the same form.
b. Policy formulation is the responsibility of top-
level management. While strategy formulation
basically done by middle -level management
c. Policy deals with routine/daily activities
essential for the effective and efficient
running of an organization. While strategy
deals with strategic concerned mostly with
action
d. Policy is concerned with both thought and
actions. While strategy is mostly c oncerned
with action
e. A policy is what is, or what is not done. While
strategy is a methodology used to achieve a
target as prescribed by a policy .
D. Advertising
o Is how a company encouraging people to buy
their products, services, or ideas. An
advertisement (or "ad" for short) is anything
that draws good attention toward these
things.
The following list are the advertisement tactics that
you could use:
i. Newspaper
ii. Magazine
iii. Radio
iv. Television
v. Directories
vi. Outdoor and Transit
vii. Direct Mails, Catalogs, and Leaflets
viii. Online
E. Marketing
o The whole concept of marketing revolves
around the customer. In marketing, the
needs of the customer come first. The
company then comes up with a product line
that would best answer those needs.
F. Bookkeeping
o Accounting, simply put, is keeping track of
money.
o The most basic activity in accounting is
bookkeeping. Bookkeeping is the process of
recording all financial transactions to keep
track of the cash flow .
Single-entry bookkeeping- is an accounting system
under which every transaction is recorded in a
single line only. This is a very simple method which
is commonly used in the checkbook records.
Double-entry bookkeeping - is a kind of accounting
system governed by certain rules which ensure that
each transaction that takes p lace is reflected in two
separate accounts.
G. Reportorial Requirements
Business Reporting or Enterprise Reporting
o Is the public reporting of operating and
financial data by a business enterprise
{Lymer,2013}.
• Reporting is a fundamental part o f the larger
movements towards improved business intelligence
and knowledge management
• There are so many kinds of reports, but what are
usually required by governments and regulating
agencies are the ANNUAL REPORT, AND THE
FINANCIAL STATEMENT.
2
Author: Kanin(rays)
1. Annual Reporting FINANCIAL STATEMENTS may be used for different
purposes:
• Annual reports are intended to give
shareholders and other interested people Owners and Managers - they require financial
information about company’s activities and statements to make important business
financial performance. decisions that affect its continued operations.
Annual Reports usually include: Employees – also need these reports in making
collective bargaining agreements with the
a. General Corporate Information
management, in the case of labor unions.
b. Accounting Policies
Prospective Investors - make use of financial
c. Balance Sheets
d. Cash Flow Statements statements to assess the viability of investing in
e. Non-Audited Information a business.
f. Profit and Loss Account Financial Institutions - used them to decide
g. Notes to the Financial Statements whether to grant a company with fresh working
h. Chairperson’s Statement capital or extend debt securities.
i. Directors’ Report
j. Operating and Financial Review
k. Other Features B. AUDIT AND LEGAL IMPLICATION
l. Auditor’s Report
• An audit of the financial statements of a
public company is usually required for
2. Financial Statement or Financial Report investment, financing and tax purposes.
• An audit is a formal examination and
• Is a formal record of the financial activities verification of an individual's or organization's
and position of a business, person, or other records and accounts, finances, or compliance
entity. with a set of standards.
• Relevant financial information is presented
in a structured manner and in a form easy to
understand. C. STANDARDS AND REGULATIONS
• Different countries have developed their own
BALANCE SHEET - referred to us as a statement of accounting principles over time, making
financial position. international comparisons of companies
INCOME STATEMENT - also known as a statement of difficult.
comprehensive income, statement of revenue and • Commonly referred to as Generally Accepted
expense. Accounting Principles (GAAP ), these set of
STATEMENT OF CHANGES IN EQUITY - also known as guidelines provide these basis for the
equity statement or statement of retained earnings . preparation of financial statements.
CASH FLOW STATEMENT - reports on a company’s • To ensure uniformity and comparability
cash flow activities, particularly its operating, between financial statements prepared by
investing and financing activities . different companies .

A. PURPOSES OF FINANCIAL STATEMENTS BY BUSINESS D. INCLUSION IN ANNUAL REPORTS

ENTITIES
• The annual report was considered the most
• To provide information about the financial effective way for corporations to communicate
changes in financial position of an enterprise. with individual shareholders
• Financial statements are important to • It can often prepare in the style of a coffee
investors because they can provide enormous table book (“Financial Statement, 2016)
information about a company's revenue,
expenses, profitability, debt load, and the
ability to meet its short-term and long -term
financial obligations.

3
Author: Kanin(rays)
H. DOCUMENTATION
• This refers to the processes and items which
serve as evidence for the validity or truth of
certain or statement.
• It involves the use of documents or tangible
records, whether in physical or electronic
format.
• It is necessary for the conduct of any
business, transactions, or project.

H. WHY IS A CODE OF ETHICS IMPORTANT

● Businesses that do not have a code of ethics
should develop one where employees can live
by and make decisions with while at work.
● Without such code, how can the manager
know what the company considers ethical or
unethical?

L. SAMPLE CODE OF ETHICS

• Also called the code of conduct or ethical
code, sets out the company’s values, ethics,
objectives and responsibilities.
• A well- written code of ethics should also give
guidance to employees on how to deal with
certain ethical situations