Business Ethics and Corporate Responsibility

The practice of doing what is morally and ethically right in business transactions.

The overall ethical standards and expectations within a country, taking into account its political and social systems.

The way each company interprets and applies industry rules and ethical behavior.

An individual employee's personal moral principles and how they influence their behavior in the workplace.

Reconciling an employee's own ethical beliefs with the ethical standards set by their company.

A business structure where the company is a separate legal entity from its owners, allowing for limited liability and the ability to enter contracts, hire employees, and own property.

The responsibility of businesses to consider the interests of all involved parties, including customers, employees, suppliers, investors, and the community.

The primary goal of a business, aiming to create wealth through innovation and resource efficiency. It can also be seen as the reward for taking risks and running a successful business.

Individuals who invest in a corporation by purchasing shares of stock, giving them ownership rights and a share of the profits.

The legal protection offered to shareholders in a corporation, where their personal assets are not at risk if the company faces financial trouble.

The level of ethics that deals with rules and standards on a national scale, influencing how organizations operate.

When national laws conflict with an organization's ethical standards, creating a dilemma for decision-makers.

A web-based tool that uses algorithms to crawl the internet, index web pages, and provide organized search results.

The practice of removing specific content or websites from search results, often based on government censorship or other regulations.

The process of aligning a company's ethical standards with its actions, ensuring consistency between values and behavior.

A business structure where one person owns and manages the company, assuming all liabilities and enjoying all profits.

A business structure where two or more individuals share ownership, responsibilities, and profits.

The assets (like money, equipment, and supplies) a business owns.

Financial obligations a business owes to others, like suppliers or lenders.

The responsibility of each partner for all business debts and decisions, no matter who made them.

A challenge faced by partnerships where disagreements between owners can lead to conflicts and instability.

The risk of a partnership dissolving when a partner dies or leaves, potentially ending the business.

Maintaining honesty in all business activities, from product descriptions to management decisions. It builds customer trust and employee loyalty.

Doing the right thing consistently, even when it's difficult. Companies with high integrity are reliable and principled.

Treating everyone fairly, including customers, employees, and suppliers. It promotes a positive work environment and fosters long-term relationships.

Taking responsibility for actions and decisions. It involves transparency and accountability to stakeholders.

Managers should keep their word and fulfill commitments. They shouldn't break promises or exit agreements lightly.

Managers should be loyal to the company and not prioritize personal interests over company interests. They should also maintain confidentiality even after leaving the company.

Treating everyone fairly, regardless of position or personal traits. This means avoiding bias and valuing others' input.

Companies should prioritize the well-being of their employees and create a positive work environment that supports their needs.

Showing respect to everyone, regardless of their gender, religion, or social status. Respect is earned through courteous actions and interactions.

A set of guiding principles that inform a company's internal conduct and external relationships with stakeholders.

Principles that employees should follow to uphold the company's values. They typically include customer satisfaction, business profitability, continuous improvement, and corporate social responsibility.

The process by which management demonstrates its commitment to the code of ethics. This involves making the code readily available and visible to all employees.

The responsibility of businesses to consider the interests of all involved parties, including customers, employees, suppliers, investors, and the community.

A document that outlines a company's ethical standards and expected behavior.

When companies manipulate their financial records to make them look better than they actually are, often to attract investors.

Charging customers more than the actual cost of the service provided, misleading them about the true price.

Advertisements that make promises that a product or service cannot deliver, ultimately leading to customer dissatisfaction.

Making false claims about achievements or contributions, or using unethical methods to increase production or reduce costs.

Failing to provide adequate customer service, such as not replacing a damaged product or honoring warranty claims.

Acting in a way that is responsible for one's actions and accepting the consequences of decisions, even if they are wrong.

Ethical behavior enhances a company's reputation, builds trust with customers, and attracts top talent.

Unethical practices damage a company's reputation, erode customer trust, and can lead to legal consequences for individuals and the organization.

Companies must register with relevant government agencies, such as the Department of Trade and Industry for sole proprietorships and the Securities and Exchange Commission for partnerships and corporations.

Employees should use company communication tools responsibly for business purposes, ensuring confidentiality and integrity.

Maintaining professional conduct in the workplace, including appropriate conversations, attire, and hygiene, promoting a positive and productive environment.

Employees are accountable for safeguarding company resources, preventing loss, theft, or misuse. This covers various assets, including computers, equipment, and office supplies.

Respecting confidential information, such as customer data or sensitive business strategies, and avoiding sharing rumors that can harm the company's reputation.

Maintaining honesty in all business activities, from product descriptions to financial transactions, building trust and credibility with customers and partners.

Ayala Corporation's code requires its employees to comply with Philippine laws, follow company policies, and ensure transparency in disclosing significant information.

Unilever prioritizes respect for all individuals, regardless of their background, ensuring fairness and equality in all company practices.

Nestlé emphasizes long-term growth over immediate profit, fosters long-term partnerships, and prioritizes ethical conduct for management and employees.

Transparency refers to the clear and timely disclosure of important company information.

Nestlé recognizes the importance of providing consumers with clear information about their products and the company behind them.