BUSINESS ETHICS AND

SOCIAL RESPONSIBILITY

Quarter 4 Week 1
OBJECTIVES

The learners discuss the responsibilities and accountabilities of entrepreneurs to:

 a. employees
 b. government
 c. creditors
 d. suppliers
 e. consumers
 f. general public
 g. other stakeholders
At the end of our topic, you are expected to:

 1. define corporate social responsibility (CSR),

 2. differentiate between responsibility and accountability, and
 3. cite examples of companies that practice corporate social responsibility
 Filipino values in business practices
1. Filipinos are always helping each other which is quite enough to feel proud of
being a Filipino.

2. Having different belief systems in an organization does not affect the working
relationship of every employee.

3. Several companies in the Philippines are run by their family members. This is
because the families want to be intact and expect help from each other.

4. Employees must get along with each other regardless of their differences in belief
systems. This is called “pakikisama” in Filipino values.

5. Trying to express gratitude to someone’s kindness or goodness is one way of

showing debt of gratitude or utang na loob
 Social Responsibility

According to Bowen (1953), social responsibility refers to a person’s obligation to

think about the effects of his decisions and actions on the whole social system. It
also refers to the approach that an organization takes in assessing its
responsibilities toward different stakeholders when making legal, economic,
ethical, and social decisions.

Every organization has its responsibilities. They have responsibilities towards

their employees, government, creditors, suppliers, consumers, general public, and
of course, to other stakeholders.
The main difference between responsibility and accountability is
that responsibility can be shared while accountability cannot
(Siquete, 2016). Being accountable not only means being
responsible for something but as well as being liable for every
decision made.
What will happen to the business or
organization without its employees?
Responsibilities of an entrepreneurs to his employees:
 Sensible and attractive salary
 Assignment of right jobs
 Provide security of employment
 Provide best working environments
 Assumption of welfare arrangements
 Humane behavior towards employees
 Formation of small business relation
 Participation in profits management
 Definite service
 Espouse incentives wages structure
Responsibilities of an entrepreneurs to their suppliers and
creditors:

 Pay fair prices of goods at a reasonable time

 Inform about changes in market
 Give guarantee of minimum price
 Provide technical advice
 Inform suppliers of future developments
 Promote healthy competition
Responsibilities and accountabilities of an entrepreneurs to
the government:

 Compliance of government rule

 Pay of taxes
 Not to seek political patronage by unfair means
 Work together with government of commercial
development
Responsibilities and accountabilities of an entrepreneurs to
their clients:

 Determination of fair prices

 To render good and economic services
 Standardization of goods
 Best and economic packing of products
 Right and truthful advertisements
 To avoid adulteration, low weight and measurement of
products
Every business must protect the environment
and the society. It is therefore their responsibility
to promote public health, proper segregation of
waste must be done, a care for the environment
is very important. Every company must meet its
obligations to its stakeholders. Stakeholders are
the individuals or groups to whom a business
has a responsibility. The stakeholders of a
business are its employees, its customers, the
public, and its investors
Home Task No. 1

Discuss what you understand about the quote.

Home Task No. 2

Search for news that shows compliance to

responsibility and accountability of
entrepreneurs to employees and government.
Based on the scenario, discuss the actions taken
by the employer showing he has been
responsible and accountable for that specific
situation. Print your work on a short bond paper
Home Task No. 3

Write a reflection of these responsibilities and

accountabilities of entrepreneurs by answering the
question:

“Put yourself in a work environment as a food chain

crew, and list down the accountability and responsibility
as employee and the employer during the pandemic
crisis?”

Employee Employer
____________ _____________