BUSINESS ETHICS: LESSON 1

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EMPLOYEE PROFIT SHARING

I’m glad because the profit-sharing system that they did really help and benefit
their employees because aside from their salaries they received an additional
money and because of that they will be energized and motivated to do their
work well that can also benefit the company itself. It also strengthens the
relationship between the owner and the employees.

1. False
2. False
3. True
4. True
5. False
6. True
7. True
8. True
9. True
10. True
1. Business
2. Input
3. Profit
4. Service Business
5. Merchandising Business
6. Manufacturing Business
7. Charter/Articles of Incorporation
8. Bylaws
9. Mutual Agency
10.Limited Life

1. Other possible advantage and disadvantage of various forms of business

organization:
Sole Proprietorship
Advantage: No public disclosure required: sole proprietorships are not
required to file annual reports or other financial statements with the
state or federal government.
Disadvantage: Unlimited liability: you are personally responsible for all
business debts and company actions under this business structure.
Partnership
Advantage: Easy to establish: Compared to other business structures,
partnerships require minimal paperwork and legal documents to
establish.
Disadvantage: Full liability: In a partnership, all members are personally
liable for business-related debts and may be pursued in a lawsuit.
Corporation
Advantage: Quick capital through stocks: To raise additional funds for
the business, shareholders may sell shares in the corporation.
Disadvantage: Double taxation: The corporation must pay income tax at
 the corporate rate before profits transfer to the shareholders, who must
then pay taxes on an individual level.
2. Yes and no because some rich people have low morals and arrogant just
because they have lots of money but some other successful person have
a good heart and helpful to others.
3. There are adverse effects of business institutions on the environment
such as the buildings are made up of non-renewable materials, involves
extraction and utilization of environmental resources and there are a lot
of wastage of paper consumed by the offices. As a student, I can give
awareness to them that what they’re doing have negative effects on the
environment.
4. The Filipino businessperson I look up the most is Tony Tan Caktiong
because in his hardwork and dedication he is now the owner of the
famous fast food in the Philippines which is Jollibee. I think he is also a
person of moral integrity because he helped many people and stayed
humble even if he’s now successful in life.

1. Principle of Unlimited Personal Liability

2. Ethics
3. Catch 22

BUSINESS ETHICS: LESSON 2

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1. What social issue in the Philippines are conveyed in this picture? Do you
think they are also ethical issue? Why or why not?
️The social issue that is conveyed in the picture is the protesting of the
people to fight and protest the decision that is made by the higher ups
that they don’t agree with to happen. I think that this situation is also an
ethical issue because the business or government made a decision or
activity that created conflict between them and the public.

2. How do you feel about people who participate in the kind of activity
shown in the picture?
️I felt pity for the people because they are enduring their tiredness and
hardship just to fight and protest for the things that they don’t agree
with. I’m also disappointed for the business or government because they
don’t make decisions carefully that caused the public to protest.

3. How will you relate this issue to our discussion on the purpose of
business?
️Social issues can affect the purpose of business because the purpose of
business is to produce goods and distribute services to satisfy the public
but when the business is not responsible and not treating the public
right, a problem can occur between them.

4. Suggest some ways through which Filipino students an become more

aware of pressing social and economic issues in the Philippines.
️️◼️Learn and think carefully about the social and economic issues in the
Philippines to become more aware and have enough knowledge about
that matter.
1. As a student, give at least 5 Code of ethics that you are practicing inside
the school.
️Respecting others
️Working honestly
️Being responsible
️Not bullying others
️Doing good things and preventing harm

2. How can you apply those in a business organization?

️You can apply these by doing it right, effectively and serious because
these codes of ethics are really important and can benefit business
organizations. They can attract more customers and make their
employees trust them by applying these codes.

1. True
2. True
3. True
4. False
5. False
 1. Corporate Social Responsibility/CSR
2. World Business Council for Sustainable Development (WBCSD)
3. Insider Trading
4. Whistle Blowing
5. Fairness

BUSINESS ETHICS: LESSON 3

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1. B
2. A
3. D
4. C
5. F
6. E
7. G

1. True
2. True
3. False
4. False
5. True
6. False
7. False
8. True
9. False
10. True

1. “Do unto others before others do unto you.” This Golden Rule means
that you should treat other people the way you want them to treat you
also. I think the people in the business world can adapt this rule because
who else would want other people to treat them badly? They should
treat each other well so that the relationships between them will
become stronger and their business will grow more.

2. “An act is good because it has good consequences.” This statement

means that if the consequences is good, then your act is right and good
and if the consequences is bad, then your act is wrong. Whether an act is
right or wrong, it depends only on the results or consequences of that
act you made. Immanuel Kant is claiming that regardless of intended
consequences, moral worth is properly assessed by looking at the
motivation of the action even if the intended consequences are good.
BUSINESS ETHICS: LESSON 4
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1. This photo conveys that in the world, there are many different religions
and different religious beliefs and practices that we possessed. But
despite these differences, we are still connected, we are still helping and
respecting each other.

2. Yes, I think that various religions can agree on ethical norms because
many religions have value frameworks regarding personal behavior
meant to guide followers and believers in determining right and wrong.

3. Some ways in order for different business persons in different religions

can talk about their religious differences is that they should respect each
other’s religions and not make fun of it because even if they have
different religious beliefs and practices, everyone deserves to be
respected. Also, try to understand each other’s beliefs to prevent
conflict and any form of harassment and discrimination.
1. I don’t believe that business and religion are two compatible areas
because religion is a historical force that indirectly influences business
conduct. It may also act as a regulatory force, affecting business more
directly. Religious organizations play several interconnected positions in
the discussion regarding ethical business conduct.

2. Unity means being together or being united of the major religions in

conducting business while harmony is the good communication between
them to develop positive social connections on their similarities in
conducting business.

1. A
2. C
3. E
4. B
5. D

1. C
2. A
3. E
4. D
5. B
1-4. Justice, Love, Stewardship and Honesty
5. Ren
6. Jesus
7. The Bible
8. Muslim
9-10. Muhammad, Allah