Business Ethics Principles Quiz

Presentation Overview

• Topic: Ethics, Social Responsibility, and Sustainability
• Presenter(s): Alicando, Alzaga, Apacible

Content

• Overview
• Principles of Business Ethics
• Whistle-blowing, Bribery, and Workplace Romance
• Design and Articulate a Social Policy
• Social Policies on Retirement
• 10 Best Socially Responsible Companies in the World
• Environmental Sustainability

Overview

• Business ethics are principles guiding decision-making in organizations, essential for effective strategic management.
• Good ethics lead to good business.
• Social responsibility involves actions promoting well-being beyond legal obligations.
• Sustainability focuses on protecting the environment.
• Business ethics, social responsibility, environmental sustainability are interconnected and impact strategic management.

7 Principles of Admirable Business Ethics

• Be trustworthy: Clients want to do business with a trustworthy practice. Ensure your character, ability, and honesty are reliable.
• Keep an open mind: Leaders must be open to new ideas; seek opinions from clients and team members for improvements.
• Meet your obligations: Regardless of circumstances, uphold commitments and earn trust, especially after any missteps. Carefully examine and update marketing and educational materials.
• Develop clear documents: Ensure all materials are precise, professional, and don't mislead.
• Get involved in the community: Demonstrate business's commitment to community well-being by actively engaging in relevant issues and activities.
• Maintain account control: Engage in hands-on accounting and record keeping, and stay vigilant against any questionable activity.
• Be respectful: Treat each individual with respect and courtesy, regardless of differences in title, age, or position.

Whistle-blowing, Bribery, and Workplace Romance

• Whistle-blowing is when employees report unethical violations.
• Bribery is the offering, giving, receiving, or soliciting of any item of value to influence official actions or duties.
• Workplace romance is an intimate relationship between two consenting employees.

Case Overview (2020)

• Allegations surfaced regarding the irregular procurement of COVID-19 supplies by the Department of Health (DOH).
• Whistle-blowers raised concerns about potential bribery.
• Awarded contracts without proper bidding processes raised ethical concerns in a time of national crisis.

Social Policy

• Defined as principles and guidelines outlining a company's responsibilities toward stakeholders, reflecting their values and societal interactions.

Importance of Social Policy in Strategic Planning

• Defining responsibility clarifies a company's obligations to various groups.
• Neglecting these obligations can lead to public backlash, impacting morale and productivity.
• Adapting to societal changes (like environmental sustainability and diversity) is essential.
• Guiding decision-making, a framework for aligning choices with values and long-term goals.

NutriAsia Case (2018)

• Striking workers from NutriAsia were violently dispersed during a protest in Marilao, Bulacan.
• Protests centered on: illegal termination, noncompliance to health/safety standards, compensation issues for workers, and prohibiting unionizing.
• Dispersed by Meycauayan police and NutriAsia guards.

Corporate Social Responsibility (CSR)

• CSR is a company practice of being socially accountable to itself, stakeholders, and the public.
• Companies practicing CSR are aware of their impacts on economic, social, and environmental aspects of society.

Renewable Innovation

• Johnson & Johnson's example is provided, focusing on limiting natural resources use, waste reduction and increasing renewable energy use, with carbon footprint reduction.

Sustainability

• Coca-Cola's example of a 100% plant-based bottle is mentioned.

Employee Rights

• Mentions Netflix and Spotify as relevant examples

Inclusivity and Diversity

• Starbucks is featured.

Local Communities

• Walt Disney is referenced.

Environmental Sustainability

• Defined as responsible management of natural resources without compromising future generations' ability to meet needs.

Earth Day 2024

• 60% Reduction of Plastic Production by 2040 is highlighted.
• Emphasizes health awareness around plastic dangers to the environment.

Philippines

• Generates 1.7 million metric tons of post-consumer plastic waste yearly.
• Implemented Extended Producer Responsibility (EPR) last year to penalize companies for plastic waste issues and removed 486,000 tonnes from the environment.

Retirement Policies of Different Countries

• Singapore, Australia, and the Philippines are all examined, and relevant retirement programs mentioned.

Quiz

• Covering key topics and concepts related to ethics, social responsibility, and sustainability.