Podcast
Questions and Answers
According to Robbins, the classical view started with the concept, Social Obligation where a company engages in social actions because of its obligation to meet certain ______ and legal responsibilities.
According to Robbins, the classical view started with the concept, Social Obligation where a company engages in social actions because of its obligation to meet certain ______ and legal responsibilities.
economic
The company does what is obligated to do or what is required by the ______ and nothing more.
The company does what is obligated to do or what is required by the ______ and nothing more.
law
An example of social obligation by the firm is the paying of ______.
An example of social obligation by the firm is the paying of ______.
taxes
As the socioeconomic view progresses, the concept of social obligation evolved into Social ______ where the company engages in social actions in response to some popular social need.
As the socioeconomic view progresses, the concept of social obligation evolved into Social ______ where the company engages in social actions in response to some popular social need.
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Managers make practical, market-oriented decisions about their actions guided by social norms and values in the context of Social ______.
Managers make practical, market-oriented decisions about their actions guided by social norms and values in the context of Social ______.
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A socially responsible organization goes beyond what is required by the ______.
A socially responsible organization goes beyond what is required by the ______.
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According to the author, business ethics is a form of applied ethics that examines moral rules, theories, and principles in a ______ context.
According to the author, business ethics is a form of applied ethics that examines moral rules, theories, and principles in a ______ context.
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Business ethics is a normative discipline that advocates and applies particular ethical standards, making specific judgments about what is right or wrong, and teaches what ought to be done and what ought not to be done in a ______ context.
Business ethics is a normative discipline that advocates and applies particular ethical standards, making specific judgments about what is right or wrong, and teaches what ought to be done and what ought not to be done in a ______ context.
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Business ethics is synonymous to ______ management.
Business ethics is synonymous to ______ management.
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According to Maximiano, the role of ethics can be gleaned in the functional areas of management, such as ethical management in the ______.
According to Maximiano, the role of ethics can be gleaned in the functional areas of management, such as ethical management in the ______.
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Ethical management in the workplace covers ethical issues arising from the employer-employee relationship, such as the rights and obligations justly owed between them, including the prevention of discrimination and the elimination of child labor and biased practices on the basis of age, gender, race, religion, and physical ______.
Ethical management in the workplace covers ethical issues arising from the employer-employee relationship, such as the rights and obligations justly owed between them, including the prevention of discrimination and the elimination of child labor and biased practices on the basis of age, gender, race, religion, and physical ______.
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Ethical management in the workplace also includes good working conditions and occupational ______.
Ethical management in the workplace also includes good working conditions and occupational ______.
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Corporate watchdog groups have been pressuring companies for ______.
Corporate watchdog groups have been pressuring companies for ______.
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Transparency means openness, a willingness by the company to provide clear information to shareholders and other ______.
Transparency means openness, a willingness by the company to provide clear information to shareholders and other ______.
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Government – for the relevant rules and policies that every organization should strictly ______.
Government – for the relevant rules and policies that every organization should strictly ______.
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An increasing number of environmental and public-interest groups are demanding companies to be accountable for any and all actions that may affect the communities in which they ______.
An increasing number of environmental and public-interest groups are demanding companies to be accountable for any and all actions that may affect the communities in which they ______.
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Corporate watchdogs sponsor boycotts, generate negative press coverage and raise a public commotion for their ______.
Corporate watchdogs sponsor boycotts, generate negative press coverage and raise a public commotion for their ______.
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A company to be called transparent has to open and willing to disclose financial performance figures which are truthful and ______.
A company to be called transparent has to open and willing to disclose financial performance figures which are truthful and ______.
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Openness and honesty concerning all aspects of the business operation has various advantages for the company. It also places the company to be responsive in a quick and efficient manner when confronted with problems and controversies. The following are the advantages: 2020-2021 Module Packets for BA 121 (Good Governance and Corporate Social Responsibility) | College of Commerce |University of San Agustin, Iloilo City, 5000, Philippines Page 15 of 16 COLLEGE OF COMMERCE BUSINESS ADMINISTRATION AND ENTREPRENEURSHIP 1.Respect – A transparent business demonstrate respect for both employees and customers. Even outsiders who got the chance to observe and know how a business operate behind the scenes and the processes that are involved in all business operation, will likely have respect for the organization. Respect is particularly useful for non-profit organizations which are trusted to handle and manage donated funds. 2.Positive Public Perception – Scandal often triggers some companies to become transparent. They have to openly protect 3.Staff Involvement – Staff members with no idea about the business may assume, contribute in spreading gossip, or if not be convinced and fearful regarding the condition of the company and the security of their jobs. Open and honest communication must be maintained with the staff. Letting them participate on the company’s strategic plan and changing circumstances can facilitate building staff loyalty.
Openness and honesty concerning all aspects of the business operation has various advantages for the company. It also places the company to be responsive in a quick and efficient manner when confronted with problems and controversies. The following are the advantages: 2020-2021 Module Packets for BA 121 (Good Governance and Corporate Social Responsibility) | College of Commerce |University of San Agustin, Iloilo City, 5000, Philippines Page 15 of 16 COLLEGE OF COMMERCE BUSINESS ADMINISTRATION AND ENTREPRENEURSHIP 1.Respect – A transparent business demonstrate respect for both employees and customers. Even outsiders who got the chance to observe and know how a business operate behind the scenes and the processes that are involved in all business operation, will likely have respect for the organization. Respect is particularly useful for non-profit organizations which are trusted to handle and manage donated funds. 2.Positive Public Perception – Scandal often triggers some companies to become transparent. They have to openly protect 3.Staff Involvement – Staff members with no idea about the business may assume, contribute in spreading gossip, or if not be convinced and fearful regarding the condition of the company and the security of their jobs. Open and honest communication must be maintained with the staff. Letting them participate on the company’s strategic plan and changing circumstances can facilitate building staff loyalty.
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Respect – A transparent business demonstrate respect for both employees and customers. Even outsiders who got the chance to observe and know how a business operate behind the scenes and the processes that are involved in all business operation, will likely have respect for the ______. Respect is particularly useful for non-profit ______s which are trusted to handle and manage donated funds.
Respect – A transparent business demonstrate respect for both employees and customers. Even outsiders who got the chance to observe and know how a business operate behind the scenes and the processes that are involved in all business operation, will likely have respect for the ______. Respect is particularly useful for non-profit ______s which are trusted to handle and manage donated funds.
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Positive Public Perception – Scandal often triggers some companies to become transparent. They have to openly protect
Positive Public Perception – Scandal often triggers some companies to become transparent. They have to openly protect
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Staff Involvement – Staff members with no idea about the business may assume, contribute in spreading gossip, or if not be convinced and fearful regarding the condition of the company and the security of their jobs. Open and honest communication must be maintained with the staff. Letting them participate on the company’s strategic plan and changing circumstances can facilitate building staff ______.
Staff Involvement – Staff members with no idea about the business may assume, contribute in spreading gossip, or if not be convinced and fearful regarding the condition of the company and the security of their jobs. Open and honest communication must be maintained with the staff. Letting them participate on the company’s strategic plan and changing circumstances can facilitate building staff ______.
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Customers are starting to voice out their concerns and demand information in all sorts of areas, including product quality, community involvement, and ______ practices.
Customers are starting to voice out their concerns and demand information in all sorts of areas, including product quality, community involvement, and ______ practices.
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Employees are considered to be the number one resources of the company, they are the ones responsible for transforming goals into realities. Finding and keeping good employees is tough, so companies must be quick to respond to employee needs especially demands on benefits, on trainings and on timely information that affect their ______.
Employees are considered to be the number one resources of the company, they are the ones responsible for transforming goals into realities. Finding and keeping good employees is tough, so companies must be quick to respond to employee needs especially demands on benefits, on trainings and on timely information that affect their ______.
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Companies face enormous pressure from community groups to be good corporate citizens. Corporations determine far more than any other institution the air to breathe, the quality of water to drink and even where to ______.
Companies face enormous pressure from community groups to be good corporate citizens. Corporations determine far more than any other institution the air to breathe, the quality of water to drink and even where to ______.
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Transparency and accountability are the watchwords, with return on investment and protection of shareholder interests as the criteria. 2020-2021 Module Packets for BA 121 (Good Governance and Corporate Social Responsibility) | College of Commerce |University of San Agustin, Iloilo City, 5000, Philippines Page 13 of 16 COLLEGE OF COMMERCE BUSINESS ADMINISTRATION AND ENTREPRENEURSHIP 2.Customers – Customers are starting to voice out their concerns and demand information in all sorts of areas, including product quality, community involvement and ______ practices.
Transparency and accountability are the watchwords, with return on investment and protection of shareholder interests as the criteria. 2020-2021 Module Packets for BA 121 (Good Governance and Corporate Social Responsibility) | College of Commerce |University of San Agustin, Iloilo City, 5000, Philippines Page 13 of 16 COLLEGE OF COMMERCE BUSINESS ADMINISTRATION AND ENTREPRENEURSHIP 2.Customers – Customers are starting to voice out their concerns and demand information in all sorts of areas, including product quality, community involvement and ______ practices.
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Employees – Employees are considered to be the number one resources of the company, they are the ones responsible for transforming goals into realities. Everyone knows the demands that full employment has brought on companies. Finding and keeping good employees is tough, so companies must be quick to respond to employee needs especially demands on benefits, on trainings and on timely information that affect their ______.
Employees – Employees are considered to be the number one resources of the company, they are the ones responsible for transforming goals into realities. Everyone knows the demands that full employment has brought on companies. Finding and keeping good employees is tough, so companies must be quick to respond to employee needs especially demands on benefits, on trainings and on timely information that affect their ______.
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Communities – Companies face enormous pressure from community groups to be good corporate citizens. Corporations determine far more than any other institution the air to breathe, the quality of water to drink and even where to ______.
Communities – Companies face enormous pressure from community groups to be good corporate citizens. Corporations determine far more than any other institution the air to breathe, the quality of water to drink and even where to ______.
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Study Notes
Importance of Transparency and Accountability
- Transparency and accountability are essential with return on investment and protection of shareholder interests as the criteria
- Various stakeholders, including customers, employees, communities, and government, demand information and accountability from companies
Stakeholders
- Customers:
- Demand information on product quality, community involvement, and child-labor practices
- Expect transparency on pricing, customer service, and performance issues
- Employees:
- Considered as the number one resource of the company
- Demand benefits, training, and timely information affecting their performance
- Communities:
- Expect companies to be good corporate citizens and accountable for their actions
- Environmental and public-interest groups demand accountability and promote community development
- Government:
- Sets rules and policies for companies to follow
Transparency
- Means openness and willingness to provide clear information to stakeholders
- Ensures stakeholders have confidence in decision-making and management processes
- Involves disclosing accurate financial performance figures and openness in business operations
- Advantages of transparency:
- Respect for employees and customers
- Positive public perception
- Staff involvement and loyalty
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Description
Explore the concepts of transparency, accountability, return on investment, and protection of shareholder interests in the context of corporate social responsibility. Dive into the importance of addressing customer concerns and providing information in various areas.
