BUSINESS ETHICS AND CSR - Module 2

Business Ethics and Social Responsibility
MODULE 2: The Foundations of the Principles of Business Ethics
Learning Competencies:
1. Understand business ethics in the Philippine context.
2. Give examples of how belief systems affect business practices.
3. Gain awareness of some challenges in business ethical behavior in the

Philippines.
4. How to shape ethical conduct in business organizations.
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I The Term “Business Ethics” in the Philippine Context
The term business as used in this course is a human activity engaged in

the production of goods and services for the satisfaction of human needs
and wants. By this definition is included the countless professions,
occupations, and careers which due to its impact in the economic life of
society has become a focus of public concern. Public concern is invoked
because of the probable harmful or beneficial effects businesses practices
have on the well-being of society. By “ethics” we mean a set of rules,
norms, and moral principles which guides people on what is right and
wrong behavior in the context of both personal and societal life. In this we
add, business life. This right or wrong behavior somehow draw the line
between what is legally allowed and what is socially acceptable, versus
those which are considered prohibited or penalized. Business ethics
therefore are a set of generally accepted and observed business practices
that promotes the good, just and fair in the business environment and are
considered the guide on how business should conduct itself. To be
successful, it is generally regarded that businesses must operate legally and
humanely.
We might take a look on how this concept is demonstrated in concrete

business situations:
1. Business ethics is being honest to customers, employees, suppliers,

investors and other stakeholders.
2. It is keeping a good balance between what is right and what is
profitable
3. It builds a reputation in the industry as a reliable organization by
straight dealings with whoever is concerned.
4. It is observing a moral compass in times of trouble and dilemma
5. It observes the core values of transparency, accountability and
fairness.
6. It builds an interconnection of relationships based on trust.
7. It promotes growth and success not only to the business but to all
stakeholders and society in general.
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II Foundations of the Principles of Business Ethics
Business ethics operates on the premise that the ethical operation of a

private business is possible. It considers the fundamental principles that
underlie the nature and purpose of a business, its formation and operation
as well as the moral obligation that pertain to it.
It is worthwhile to note that the core ethical principles or value systems

discussed in the previous module have their foundations in the ethics
environment – the classical philosophies, the religious beliefs, and our own
value systems.
Classical Philosophies
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Religious Beliefs
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II Business Ethics Challenges in the Philippines It cannot be denied that

challenges to the ethical way of doing business in the Philippines are more
than we want to admit. Both the news and social media are laden with
stories that are in contrast to what we believe and what we want
practiced in the country. Undeniably, corruption is the number one issue
of the day. What is dangerous is that this onslaught of discouraging news
makes the average man immune to unethical behavior. The issues
usually got buried, the unethical businesses and corrupt officials go
scotch-free and are forgotten. The long-term result is that nobody learns.
Education has a better chance of providing corrective measures in this

regard. Instilling in the minds of our young the value of good behavior is
priceless when valued in terms of ingrained mind set, that may translate to
transformation of character. But, in the present how do we go about
educating those in business and in the profession?
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What we need is ethical leadership. Ethical behavior needs to start at the

top.
Words are validated by actions.
Consistent training is necessary.
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Finally, let business ethics be a part of business culture.
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Activity 1 (50 points)
Identify one Filipino belief system that you

observed as having greatly influenced the
conduct of business in your particular
community. Is the influence favorable or
unfavorable?
ACTIVITY RESULTS
Activity Score Remarks

1
Note to Parents or Guardians: Kindly check in the “Remarks” column when

the activity is accomplished.
11 |
REFERENCES
Aliza Racelis, (2017). Business Ethics and Social Responsibility. Rex

Bookstore, Inc., Sampaloc, Manila.
Roberto G. Medina, (2015). Business Organization and Management. Rex

Bookstore, Inc., Sampaloc, Manila.
Date Finished : __________________________________________
Parent’s Name & Signature: __________________________________________
“Wisdom is a reflection of eternal light, a spotless mirror of the

working of God, and an image of His goodness” (Wisdom 7:26)
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Business Ethics and Social Responsibility

MODULE 2: The Foundations of the Principles of Business Ethics

1. Understand business ethics in the Philippine context.

2. Give examples of how belief systems affect business practices.

3. Gain awareness of some challenges in business ethical behavior in the

4. How to shape ethical conduct in business organizations.

I The Term “Business Ethics” in the Philippine Context

The term business as used in this course is a human activity engaged in

We might take a look on how this concept is demonstrated in concrete

1. Business ethics is being honest to customers, employees, suppliers,

II Foundations of the Principles of Business Ethics

Business ethics operates on the premise that the ethical operation of a

It is worthwhile to note that the core ethical principles or value systems

II Business Ethics Challenges in the Philippines It cannot be denied that

Education has a better chance of providing corrective measures in this

What we need is ethical leadership. Ethical behavior needs to start at the

Words are validated by actions.

Consistent training is necessary.

Finally, let business ethics be a part of business culture.

Activity 1 (50 points)

Identify one Filipino belief system that you

Activity Score Remarks

Note to Parents or Guardians: Kindly check in the “Remarks” column when

Aliza Racelis, (2017). Business Ethics and Social Responsibility. Rex

Roberto G. Medina, (2015). Business Organization and Management. Rex

Date Finished : __________________________________________

Parent’s Name & Signature: __________________________________________

“Wisdom is a reflection of eternal light, a spotless mirror of the

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