Lesson 3: Core Principles in Business Operations.
*Compensatory Justice
1. FAIRNESS
*Fairness refers to the level of even-handedness in
dispensing justice whereby claims are -recognized in the
order of their legal and contractual priority.
*Principle of Justice: "Individuals should be treated the
same, unless they differ in ways that are relevant to the
situation in which they are involved",
Different Kinds of Justice
DISTRIBUTIVE JUSTICE
RESTRIBUTIVE JUSTICE
COMPENSATORY JUSTICE
*Distributive Justice
Refers to the extent to which society's institutions
ensure that benefits and burdens are distributed among
society's members in ways that are fair and just.
*Retributive Justice
Refers to the extent to which punishments are fair and
just. Punishments are held just if they held into account
relevant criteria such as seriousness of the crime and
intent of the criminal.
Refers to the extent to which people are fairly
compensated for their injuries by those who have injured
them: just compensation is proportional to the loss
inflicted on a person.
2. ACCOUNTABILITY
is the obligation of an individual of organization to
account its activities, accept responsibility for them, and
to disclose the results in a transparent manner.
Corporate Accountability
refers to the act of being accountable to the stakeholders
of an organization
3. TRANSPARENCY
Refers to the lack of hidden agenda and conditions
accompanied by the availability of full information
required for collaboration, cooperation, collective decision
making.
Means unimpeded visibility as all transactions are
subject to scrutiny.
Corporate Transparency
Describes the extent to which a corporation's actions
are observable by outsiders From the perspective of the
outsiders, it can be defined as the perceived quality of
intentionally shared information from the organization.
4. STEWARDSHIP
According to the Concise Oxford Dictionary of Current
English, a steward person is a person employed to
manage another's property
In the beginning, it is referred to the household
servant's duties for bringing food and drink to the castle's
dining hall.
In business, it has been used by CEOs to denote the
concept that as a steward, you try to leave the company
in better shape for your successor than it was handed
over to you by your predecessor.
Product Stewardship
-Refers to the understanding controlling, and
communicating a product's environmental, health, and
safety-related effects throughout its life cycle from
production to final disposal or reuse.
Samples of Core Principles of Companies
SHELL GLOBAL
"All Shell employees and contractors, and those at joint
ventures are expected to understand and beliave
according to our business pnnciples at all umes. Our
business principles are based on the core values of
honesty, integrity, and respect for people."
BANK OF AMERICA
We are here to help make financial lives better Better by
connecting our customers and clients to the financial
solutions they need And, better by connecting across our
company to deliver those solutions It is guided by
Operating Principles that deline how we operate the
company (customer-driven, great place t work, manage
nisk operational excellence, deliver for shareholders)
TWITTER
Mission statement:
To give everyone the power to create and share ideas and
information instantly, without barriers
"Our mission statement puts our users first and defies our
clear purpose -to pe everyone the ability to be heard,
seen, and share their thoughts and experiences as they
happen
WHOLE FOODS MARKET
Purpose statement:
With great courage, integrity, and love- re embrace our
responsibility to co-create a world where each of us, our
communities, and our planet can flourish. All the while,
celebrating the sheer love and joy of food.
Principle 4: the elimination of all forms of forced and
compulsory labor.
Principle 5: the effective abolition of child labor,
Principle 6: the elimination of discrimination in respect of
employment.

ON ENVIRONMENT
BRIGHT HORIZONS FAMILY SOLUTIONS
Principle 7: Businesses should support a precautionary
Core Values Statement: The HEART Principles: approach to environmental challenges,

H-Honesty Principle 8: undertake initiatives to promote greater

environmental responsibility, and
E-Excellence
Principle 9: encourage the development and diffusion of
A-ccountability
environmentally friendly technologies.
R-espect

T-eamwork
On Anti-Corruption

Principle 10: Businesses should work against corruption in

UN GLOBAL COMPACT-TEN PRINCIPLES all its forms including extortion and bribery

ON HUMAN RIGHTS

Principle 1: Businesses should support and respect the

protection of internationally proclaimed human rights, and Business opportunities are like buses. There's always
Principle 2: make sure that they are not complicit in another one coming.
human rights abuses. -RICHARD BRANSON

ON LABOR

Principle 3: Businesses should uphold the freedom of

association and the effective recognition of the night to
collective bargaining.
 Lesson 4 3. ON AGENDA

BUSINESS PRACTICES  The chairperson of the meeting should circulate a

meeting agenda to each participant atleast one week
- Is a method, procedure, process or rule employed or
in advance
followed by a company in the pursuit of its objectives.
 Participants should express the concern about the
 Decorum
agenda at least 48hours prior to the meeting
 Protocol
 Policies 4. ON ATTIRE AND APPERANCE
 Advertising
 An individual who wishes to be taken seriously in the
 Marketing
workplace must dress appropriately for her business
 Bookkeeping
environment
 Reportorial Requirements
 When unsure what type of dress to wear, it is best to
 Documentation
err on the conservative side
 Code of ethics
5. ON BASIC COURTESY
A. DECORUM
 Most basic elements of business etiquette is courtesy
-An individual who exhibits politeness and decorum is often
or respect
rewarded with success in his chosen field. There are
 Consider the feelings of others and address conflicts in
additional formalities he must learn to assure that he is
straightforward and impersonal manner
viewed as pleasant and cultivated.
 Show respect not only to superiors but to everyone
PROPER BUSINESS ETIQUTTE
6. ON GREETINGS
1. ON TIME AND PROMPTINESS
 Standard greetings are an exchange of handshakes
 The easiest way to exhibit professionalism is to and a smile
consistently be punctual  In formal situations, the oldest or the most important
 Arrive at the meeting atleast 15 minutes early person is greeted first

2. ON PREPARATION 7. ON HANDSHAKES

 An individual must be prepared to conduct business at
hand
 Each participant should come to the meeting with all of
the materials and data she will need and an
understanding of the meeting topic
 The rules on handshakes are about the same as in the
west, although Filipino may use a little most contact
like path on the side of the arm as a gesture of
hospitality
8. ON BODY LANGUAGE
 Filipinos have a fascinating non-verbal language like
lifting the eyebrows without smiling means no but
lifting the eyebrows while smiling is used to greet a
friend
 Pointing finger is a no-no
9. ON FORMAL AN INFORMAL ADDRESS
 Avoid using someone’s first name until they have
known you for a while or until they have asked you to
be informal
 Always ask what they prefer to be called
10. ON SPEAKING IN MEETINGS
 Keep the meeting organized by only speaking when
you have the floor
 Ask questions during the designated question period
 Raied your hand to be recognized and do not interrupt
someone while they are speaking
11. ON LISTENING
 Listen attentively to the meeting and take notes
12. ON CELLPHONES AND LATOPS
 Turn off your cellphone prior to the start of the
meeting, if you are expecting an urgent call then set
you phone to vibrate and excuse yourself from the
meeting if the call comes in
13. ON BUSINESS CARD
 It is advisable to present your business card with both
hands
 Never slip the business card into your pocket but put it
with the papers you are using during negotiations
14. ON BREAKS
 Meetings should have a break every two hours ,
breaks should be 20 minutes long and meal breaks
should be 30 minutes long ( ROOT III, 2016)
15. ON PROPER COMMUNICATION
 It is communicating effectively
 Always returning phone calls and emails
16. ON BARGAINING
 Do not get angry and avoid shouting or imposing
unreasonable deadlines for decision-making
17. ON BRINGING ON GUEST
 do not bring unannounced guests to a meeting
 ask permission if you could bring a guest but if the
permission is not granted, then do not bring him
18. ON BUILDING RELATIONSHIPS
 make time to actually talk to people, do not rush off
immediately after exchanging meetings
 send a card or word of congratulations when an
important event occurs in the lives of employees
19. ON BUSINESS MEALS
 in general, in restaurant, the person who issues the
invitation is the one who pays
20. ON GIFT GIVING
 wrap gifts elegantly as the presentation is important
B. PROTOCOL
It general, protocol means the unwritten rules or
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.
D. ADVERTISING
- It is how a company encourages people to buy their product
services or ideas. It is anything that draws good attention towards these
things. It is usually designed by an advertising agency for an identified

*everything from behavior and dress to task execution sponsor and performed through media.
is defined under a business’s protocol. These guidelines are
typically defined for each employee upon being hired. Types of Advertising

- Newspaper - Directories
BENEFITS OF PROTOCOL:
- magazine - outdoor and transit
 help present a uniform, professional face to public
 may unite employees under common goals and ensure - radio - catalogs or leaflets
that tasks are executed to the preferences of the
company’s owner - television - direct mail
 to avoid confusion
- online
C. POLICIES

Business policy defines the scope or spheres within E. MARKETING

decisions can be taken by the subordinates in an - it refers to the process of product development as well as sales,
organization. It permits the lower management to deal with
the problems and issues without consulting top level promotions, and distributions. The whole concept of marketing revolves
management every time for decisions. around the cutomer. In marketing, the needs of the customer come first.

Internet Marketing Methods

FEATURE OF BUSINESS
 Emails marketing
 SPECIFIC
 CLEAR RELIABLE/UNIFORM  Pay-per-click ads
 APPROPRIATE  Search engine marketing (SEM)
 SIMPLE BUT COMPREHENSIVE
 STABLE  Social Media Marketing
F. BOOKKEEPING
- it is the process of recording all financial transactions to keep
track of the cash flow

G. REPORTIAL REQUIREMENTS
- Business reporting or enterprise reporting is the public
reporting of operating and financial data by a business enterprise.

- It is fundamental part of the larger movement towards

improved business intelligence and knowledge management.

Two kinds of Reports

 Annual Report - a comprehensive report on a company’s

activities throughout the preceding year.
 Financial Statement - a formal record of the financial activities
and position of a busines, person, or other entity.
H. DOCUMENTATION
- It refers to the process and items which serve as evidence for
the validity or truth of a certain claim or statement. This involve the use
of documents or tangible records, whether in physical or electronic
format.

I. CODE OF ETHICS
- Also called as a code of conduct or ethical code, sets out the
company’s values, ethics, objective, and responsibilities. A well-written
code of ethnics should also give guidance to employees on how to deal
with ethical situations.