Business Ethics Overview

What is Ethics?

• Ethics originates from the Greek word "ethos", meaning custom, character, nature, and disposition.
• Ethics, or moral philosophy, are principles humans should follow for "right" and "good" conduct.
• Ethics is a discipline that examines, develops, and recommends right behavior and judgment.

Business Ethics

• Business ethics examines the rightness or wrongness of human behavior in business activities.
• It includes the conduct of employees and interactions with stakeholders.
• Also known as corporate or professional ethics, it examines principles and conduct of businesses facing moral issues.
• Business ethics provides guiding principles for moral and ethical actions within organizations.

Why Business Ethics is Important

• Business ethics is a top priority for businesspeople.
• It aligns with existing laws, ensuring the organization is crime-free from employees, customers, suppliers, partners, and other stakeholders.
• Practicing business ethics builds trust among business partners and customers.
• Trustworthy and honest businesses attract repeat customers.
• This strategy gives a company an advantage over competitors.

Why is a Code of Ethics Important?

• Every organization creates a Code of Ethics for all employees to follow.
• This code guides employees in making ethical decisions daily in their work.
• It helps employees determine ethical and unethical actions.
• A Code of Ethics provides a clear standard for organizational conduct, ensuring all employees align with the same principles.

Corporate Social Responsibility (CSR)

• CSR is a firm's mission to positively impact society's welfare.
• It involves economic, social, and environmental aspects, aligned with the company's goals.

Business Practices

• Businesses have governing rules and practices to achieve their goals.
• These rules guide employee conduct in decision-making.
• Employees are expected to abide by company laws and regulations.

Decorum

• Decorum represents good taste and appropriate conduct, including dress.
• Punctuality is a fundamental aspect of professionalism in a business setting.
• Being on time demonstrates respect for others' time.

Punctuality in Meetings

• Respect others' time by arriving promptly for meetings (15-30 minutes beforehand).
• Acknowledge potential delays and confirm appointments.
• Finishing meetings on time demonstrates respect.

Preparation for Meetings

• Prepare all pertinent files and documents for presentations.
• Ensure questions are ready for interviews.
• Test and prepare presentation equipment (laptops, projectors) before meetings.
• Fully charge devices (laptops, cell phones) for meetings.

Meeting Agenda

• The executive should circulate meeting agendas a week in advance.
• Important attendees should make necessary adjustments to meeting dates and times if not able to attend.

Attire and Appearance in the Workplace

• Dress appropriately for the workplace.
• Formal attire is often required in corporate settings.
• Companies focused on manufacturing may have specific uniform requirements.
• Employees should always dress appropriately for work-related social events.

Decorum in Meetings

• Watch words spoken to others and maintain composure.
• Avoid offensive language and gossip, adhering to a harmonious environment.
• Respectful conduct, not disruptive, should be practiced during meetings.

Basic Courtesy and Respect

• Consider the feelings of others in interactions.
• Practice courtesy and respect even in difficult situations.
• Keep discussions focused in arguments or disagreements with peers/colleagues.
• Treat everyone respectfully, including superiors, peers, and subordinates.
• Use mindful language in discussions to maintain harmonious interactions.

Greetings in Business Settings

• Handshakes and smiles are typical formal greetings.
• In formal settings, the most important person is usually greeted first.
• Close friends/colleagues might greet each other with warm embraces and cheek kisses.

Formal/Informal Addresses in Business

• Use titles (Mr., Mrs., Miss, Dr., etc.) when addressing others for the first time.
• Unless asked, avoid using first names formally.
• Address individuals with respect based on their titles and positions.

###Speaking in Meetings

• Wait for your turn to speak during meetings.

• Respect designated times for questions and answers.

• Don't interrupt others when they are speaking.

Listening in Meetings

• Take notes during meetings for clarity and to avoid repetition.
• Key information should be noted to reinforce the discussion points.

Cell Phones and Laptops in Meetings

• Silence or put mobile phones in vibrate mode before meetings.
• Leave the meeting room during phone calls.
• Use laptops only when necessary during meetings.

Business and Visiting Cards

• Use both hands to present business cards to clients.

Breaks during Meetings

• Schedule breaks during longer meetings every two hours or thereabouts.

Appropriate Communication

• Return phone calls and emails promptly.
• Provide name, company name, and department in phone calls/emails.
• Speak politely during all communications.

Building Relationships

• Treat employees with respect and thoughtfulness.
• Companies often acknowledge employees' birthdays with treats or gifts.
• Visiting staff, including janitorial staff, demonstrates a thoughtful approach.

Protocol in the Philippines

• Nepotism exists in some Filipino corporations and businesses.
• Favoring family relatives for employment is common.
• Employees are rarely terminated from their jobs due to bad performance unless they make a serious mistake.

Business as Personal

• Business interactions in the Philippines are often personal.
• Referrals/connections may assist in business transactions due to the close-knit nature of the relationships.
• The ability to know the right people is a key aspect of successful business dealings.

Status Consciousness in the Philippines

• Filipino business culture emphasizes respect for status and titles.
• Addressing individuals by their titles is common practice in deference.

Politeness and Ambiguity

• Filipinos prefer politeness and avoid direct "no" responses in business settings due to their cultural values.
• A harmonious and respectful relationship with business partners is important.
• Avoiding direct rejection and using indirect language avoids offense.