Corruption and Business Ethics in the Philippines Quiz
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Questions and Answers

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.

<p>False</p> Signup and view all the answers

Fairness and openness involve a commitment to justice, equal treatment of individuals, and tolerance for acceptance of diversity.

<p>True</p> Signup and view all the answers

Caring for others does not involve being giving and of service to others.

<p>False</p> Signup and view all the answers

Respect for others does not include demonstrating respect for human dignity and privacy.

<p>False</p> Signup and view all the answers

Corporate values and code of conduct address the legal obligations owed to stakeholders

<p>True</p> Signup and view all the answers

A code of conduct is a formal expression of an organization's values and ethics

<p>True</p> Signup and view all the answers

The reputation of a business has no impact on its value

<p>False</p> Signup and view all the answers

A code of conduct should guide only directors and senior executives

<p>False</p> Signup and view all the answers

Promoting responsibility and accountability for reporting unethical practices is not necessary in a code of conduct

<p>False</p> Signup and view all the answers

Securing profit at the expense of integrity is an acceptable way of conducting business

<p>False</p> Signup and view all the answers

Managing, protecting, and enhancing reputation is not a challenge facing today’s board

<p>False</p> Signup and view all the answers

A code of conduct should ensure compliance with legal and other obligations to stakeholders

<p>True</p> Signup and view all the answers

A code of conduct does not need to explicitly manage the values and ethics of the organization

<p>False</p> Signup and view all the answers

Responsible citizenship involves openly protesting just laws

<p>False</p> Signup and view all the answers

Pursuit of excellence requires individuals to perform tasks to the best of their ability

<p>True</p> Signup and view all the answers

Accountability entails accepting responsibility for decisions and their foreseeable consequences

<p>True</p> Signup and view all the answers

Ethical behavior is crucial for maintaining societal order and cohesion

<p>True</p> Signup and view all the answers

Unethical behavior often stems from differences in ethical standards or selfish choices

<p>True</p> Signup and view all the answers

Recognized professions share common characteristics like a responsibility to serve the public and a complex body of knowledge

<p>True</p> Signup and view all the answers

The Code of Good Governance for the Profession in the Philippines outlines principles for professional conduct

<p>True</p> Signup and view all the answers

Corruption in the Philippines primarily involves bribery and embezzlement only

<p>False</p> Signup and view all the answers

The Philippines loses P200B from smuggling and P400B from tax evasion annually

<p>True</p> Signup and view all the answers

The Makati Business Club and the European Chamber of Commerce of the Philippines serve as the secretariat for the Integrity Initiative Campaign

<p>False</p> Signup and view all the answers

The "Unified Code of Conduct for Business" was prepared as part of the Integrity Initiative Campaign to promote unfair market conditions

<p>False</p> Signup and view all the answers

A six-step approach is outlined for resolving ethical dilemmas

<p>True</p> Signup and view all the answers

Legislation such as the Anti-Graft and Corrupt Practices Act aim to promote corruption in the Philippines

<p>False</p> Signup and view all the answers

Advocacy against corruption is not important to address the ill-effects of corruption

<p>False</p> Signup and view all the answers

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.

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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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