30 Questions
Ethics is a set of moral principles that only govern the actions of an individual, not a group.
False
Integrity is the quality of being honest and having strong moral principles.
True
Honesty involves the absence of lying, cheating, and theft.
True
Trustworthiness and promise-keeping do not involve abiding by the spirit or the letter of an agreement.
False
Fairness and openness involve a commitment to justice, equal treatment of individuals, and tolerance for acceptance of diversity.
True
Caring for others does not involve being giving and of service to others.
False
Respect for others does not include demonstrating respect for human dignity and privacy.
False
Corporate values and code of conduct address the legal obligations owed to stakeholders
True
A code of conduct is a formal expression of an organization's values and ethics
True
The reputation of a business has no impact on its value
False
A code of conduct should guide only directors and senior executives
False
Promoting responsibility and accountability for reporting unethical practices is not necessary in a code of conduct
False
Securing profit at the expense of integrity is an acceptable way of conducting business
False
Managing, protecting, and enhancing reputation is not a challenge facing today’s board
False
A code of conduct should ensure compliance with legal and other obligations to stakeholders
True
A code of conduct does not need to explicitly manage the values and ethics of the organization
False
Responsible citizenship involves openly protesting just laws
False
Pursuit of excellence requires individuals to perform tasks to the best of their ability
True
Accountability entails accepting responsibility for decisions and their foreseeable consequences
True
Ethical behavior is crucial for maintaining societal order and cohesion
True
Unethical behavior often stems from differences in ethical standards or selfish choices
True
Recognized professions share common characteristics like a responsibility to serve the public and a complex body of knowledge
True
The Code of Good Governance for the Profession in the Philippines outlines principles for professional conduct
True
Corruption in the Philippines primarily involves bribery and embezzlement only
False
The Philippines loses P200B from smuggling and P400B from tax evasion annually
True
The Makati Business Club and the European Chamber of Commerce of the Philippines serve as the secretariat for the Integrity Initiative Campaign
False
The "Unified Code of Conduct for Business" was prepared as part of the Integrity Initiative Campaign to promote unfair market conditions
False
A six-step approach is outlined for resolving ethical dilemmas
True
Legislation such as the Anti-Graft and Corrupt Practices Act aim to promote corruption in the Philippines
False
Advocacy against corruption is not important to address the ill-effects of corruption
False
Study Notes
Corruption and Business Ethics in the Philippines
- Corruption involves abuse of private and public office for personal gain, including bribery, embezzlement, and nepotism.
- Corruption can lead to inefficiency, waste of public resources, and a breakdown in social order, affecting ordinary people's access to essential services.
- Recipients and payers, extortion, and ethical dilemmas are key characteristics of corruption.
- The Philippines loses P200B from smuggling and P400B from tax evasion annually, and globally, about P2.6T is lost annually due to corruption.
- The judicial system, police, public services, land administration, tax and customs administration, public procurement, and natural resources are sectors affected by corruption in the Philippines.
- Prevention measures for corruption in the workplace include clear business processes, policies on gifts and entertainment, declaration of conflict of interest, and a convenient corruption reporting system.
- Legislation such as the Anti-Graft and Corrupt Practices Act, Anti-Red Tape Act, and Anti-Money Laundering Act, among others, aim to curb corruption in the Philippines.
- The Integrity Initiative Campaign, launched in 2010, aims to institutionalize integrity standards among various sectors of society in the Philippines.
- The Makati Business Club and the European Chamber of Commerce of the Philippines serve as the secretariat for the Integrity Initiative Campaign.
- The "Unified Code of Conduct for Business" was prepared as part of the Integrity Initiative Campaign to harmonize ethical standards among businesses in the Philippines and promote fair market conditions.
- The ethical dilemma is defined as a situation where a decision must be made about appropriate behavior, and a six-step approach is outlined for resolving ethical dilemmas.
- Advocacy against corruption is important to address the ill-effects of corruption and to promote fair and ethical business practices.
Test your knowledge of corruption and business ethics in the Philippines with this informative quiz. Explore the impact of corruption on society, key characteristics, prevention measures, legislation, and initiatives aimed at promoting integrity in business. Evaluate your understanding of ethical dilemmas and advocacy against corruption in the Philippines.
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