Topic 2 - Ethics, Social Responsibility, and Sustainability PDF

PRESENTATION ETHICS, SOCIAL RESPONSIBILITY, AND SUSTAINABILITY ALICANDO - ALZAGA - APACIBLE  CONTENT 01 OVERVIEW 02 PRINCIPLES OF BUSINESS ETHICS 03 WHISTLE-BLOWING, BRIBERY, & WORKPLACE ROMANCE 04 DESIGN AND ARTICULATE A SOCIAL POLICY 05 SOCIAL POLICIES ON RETIREMENT 06...

PRESENTATION ETHICS, SOCIAL RESPONSIBILITY, AND SUSTAINABILITY ALICANDO - ALZAGA - APACIBLE  CONTENT 01 OVERVIEW 02 PRINCIPLES OF BUSINESS ETHICS 03 WHISTLE-BLOWING, BRIBERY, & WORKPLACE ROMANCE 04 DESIGN AND ARTICULATE A SOCIAL POLICY 05 SOCIAL POLICIES ON RETIREMENT 06 10 BEST SOCIALLY RESPONSIBLE IN THE WORLD 07 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, while sustainability focuses on protecting the environment. Thus, business ethics, social responsibility, and environmental sustainability are interconnected and impact strategic management.  7 PRINCIPLES OF ADMIRABLE BUSINESS ETHICS 1. Be Trustworthy Clients want to do business with a practice they can trust. So make sure clients can rely on your character, ability, and honesty. 2. Keep an Open Mind For any business to improve, the leaders must be open to new ideas. Ask for opinions and feedback from both clients and team members.  7 PRINCIPLES OF ADMIRABLE BUSINESS ETHICS 3. Meet your Obligations Regardless of the circumstances, do everything in your power to gain clients' trust, particularly if something has gone awry. Honor all your commitments and obligations. 4. Develop Clear Documents Re-evaluate advertising, marketing, and educational or informational materials, making sure they're clear, precise, and professional. Most important, make sure they don't misrepresent your practice or goals.  7 PRINCIPLES OF ADMIRABLE BUSINESS ETHICS 5. Get Involved in the 6. Maintain Account 7. Be Respectful Community Control Demonstrate that your Take a hands-on Regardless of business is a approach to differences in responsible accounting and record positions, titles, ages, community keeping. You'll gain a or other contributor by feel for the business characteristics, always becoming and side of your company, treat others with remaining involved in which should help you respect and courtesy. community-related stay alert for issues and activities. questionable activities. WHISTLE-BLOWING, BRIBERY, AND WORKPLACE ROMANCE CASE OVERVIEW In 2020, allegations surfaced regarding the irregular procurement of COVID-19 supplies by the Department of Health (DOH). Whistle-blowers within the department raised concerns about potential bribery, claiming that contracts were awarded to favored suppliers without following proper bidding processes. This raised serious ethical questions about transparency and accountability in a time of national crisis. WHISTLE-BLOWING Whistle-blowing refers to employees reporting any unethical violations they discover or see in the firm. EXAMPLE Three individuals recently received $170 million for helping investigators obtain a record $16.65 billion penalty against Bank of America for inflating the value of mortgage properties and selling defective loans to investors. The Securities and Exchange Commission (SEC) recently strengthened its whistleblowing policies, virtually mandating that anyone seeing unethical activity report such behavior.  BRIBERY Bribery is defined by Black’s Law Dictionary as the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in the discharge of a public or legal duty.  BRIBERY POSES A SIGNIFICANT RISK TO ORGANIZATIONS FOR SEVERAL REASONS: 01 02 03 04 Legal Damage to Distrust Unfair Consequences Reputation among Advantage Employees  WORKPLACE ROMANCE Workplace romance is an intimate relationship between two consenting employees. Unlike sexual harassment, which the Equal Employment Opportunity Commission (EEOC) defines as unwanted sexual advances or behavior, workplace romance is more about mutual feelings.  PROBLEMS Favoritism complaints can Whispering secrets can lead to arise tensions and hostilities among coworkers Confidentiality of records can Sexual harassment (or be breached discrimination) charges may ensue, either by the involved female or a third party. Reduced quality and quantity of work can become a problem Conflicts of interest can arise, especially when the well-being of the partner trumps the Personal arguments can lead well-being of the company. to work arguments  Organizations should establish guidelines or policies that address workplace romance, for at least six reasons: Guidelines can enable the Guidelines can specify Guidelines can specify firm to better defend reasons (such as the resultant penalties for against and avoid sexual seven listed previously) romancing partners if harassment or why workplace romance problems arise. discrimination charges. may not be a good idea.  Organizations should establish guidelines or policies that address workplace romance, for at least six reasons: Guidelines can promote a Guidelines can help assure Lack of any guidelines professional and fair work compliance with federal, sends a careless message atmosphere. state, and local laws and throughout the firm. recent court cases. DESIGN AND ARTICULATE A SOCIAL POLICY  SOCIAL POLICY It refers to the principles and guidelines that outline a company's responsibilities toward various stakeholders. It reflects the company's values and how it interacts with society. IMPORTANCE OF SOCIAL POLICY IN STRATEGIC PLANNING Defining Responsibility: Social Policy helps clarify what a company owes to different groups. If a firm neglects these responsibilities, it could face backlash from employees and the public, leading o decreased morale and productivity.  NUTRIASIA CASE On June 14, 2018, striking workers of the Nagkakaisang Manggagawa ng NutriAsia from the condiment company NutriAsia in Marilao, Bulacan were violently dispersed in their picket line by the Meycauayan police and NutriAsia guards. These workers were protesting the company’s practice of contractualization, the illegal termination of their co-workers, its noncompliance to health and safety standards and workspace congestion, the company’s unjust compensation to their workers, and its prohibition of unionizing within the firm. Source: UP Political Society IMPORTANCE OF SOCIAL POLICY IN STRATEGIC PLANNING Adapting to Societal Changes: A strong social policy allows firms to adapt and respond positively to social issues like environmental sustainability and diversity. Source: Marc Go Photography IMPORTANCE OF SOCIAL POLICY IN STRATEGIC PLANNING Guiding Decision-making: Social Policy acts as a framework for decision-making within the organization. It helps leaders make choices that align with their values and long-term goals  JOLLIBEE The Busog, Lusog, Talino (BLT) School Feeding Program started in 2007, providing daily lunch to help undernourished children remain in school and learn better. The program has since taken a different approach to further strengthen Jollibee Group Foundation’s (JGF) support to the Department of Education’s (DepEd) School-Based Feeding Program (SBFP). Source: Jollibee Group Foundation SOCIAL POLICIES ON RETIREMENT  AGING POPULATION As populations age globally, Europe, North America, and parts of Asia are seeing rising elderly proportions, posing challenges for healthcare, retirement plans, and labor dynamics. Source: United Nations Population Division SHARE OF POPULATION OLDER THAN 65 IN PH RETIREMENT POLICIES OF DIFFERENT COUNTRIES  SINGAPORE The statutory minimum retirement age is currently set at age 63. They maintain a re-employment program called the Retirement and Re- Employment Act. The government implements a comprehensive social security savings plan called The Central Provident Fund (CPF).  AUSTRALIA The Australian social security program is called Age Pension or “an adequate income in your retirement.” They have a mandatory retirement saving system for its citizens, which requires them to put away 11.5% of their salaries every year.  PHILIPPINES Public Pension Systems (SSS or GSIS) Private Pension Systems (IRAs) Social Welfare Programs for the Elderly (Expanded Senior Citizens Act of 2010) COMPANIES DOING CORPORATE SOCIAL RESPONSIBILITY SUCCESSFULLY CORPORATE SOCIAL RESPONSIBILITY Corporate social responsibility (CSR) is what helps a company be socially accountable to itself, its stakeholders, and the public. By practicing CSR, companies are aware of how they impact aspects of society, including economic, social, and environmental. RENEWABLE INNOVATION Johnson & Johnson SUSTAINABILITY Coca-Cola EMPLOYEE RIGHTS Netflix and Spotify INCLUSIVITY AND DIVERSITY Starbucks LOCAL COMMUNITIES Walt Disney ENVIRONMENTAL SUSTAINABILIY  WHAT IS ENVIRONMENTAL SUSTAINABILITY Environmental sustainability is the practice of managing natural resources responsibly to meet the needs of the present without compromising the ability of future generations to meet their own needs.  EARTH DAY 2024 Source: earthday.org The Philippines, with a population of 120 million, generates some 1.7 million metric tons of post- consumer plastic waste a year, according to the World Bank. Last year, its "Extended Producer Responsibility" statute came into force -- the first in Southeast Asia to impose penalties on companies over plastic waste. According to Environment Undersecretary Jonas Leones, the law removed 486,000 tonnes of plastic waste from the environment last year. Source: ABS-CBN News THANK YOU FOR LISTENING!  QUIZ 1.These are the principles guiding decision-making in organizations, essential for effective strategic management. 2. For any business to improve, the leaders must be open to new ideas. Ask for opinions and feedback from both clients and team members. 3. Refers to re-evaluation of marketing, and educational or informational materials, making sure they're clear, precise, and professional. 4. It refers to employees reporting any unethical violations they discover or see in the firm. 5. Black’s Law Dictionary defines it as the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in the discharge of a public or legal duty. 6. It is an intimate relationship between two consenting employees. 7. According to the United Nations, an aging population is one where the share of 65-year-olds and over is 7%. In what year will the Philippines be considered an aging population? 8. It is a Public Pension System that provides retirement, disability, and death benefits which are determined by the member’s salary credit and contribution history. 9. What do you call the law that imposes penalties on companies over plastic waste? 10. It is the practice of managing natural resources responsibly to meet the needs of the present without compromising the ability of future generations to meet their own needs.  ANSWER KEY 1. Business Ethics 2. Keep an Open Mind 3. Develop Clear Documents 4. Whistle-Blowing 5. Bribery 6. Workplace Romance 7. 2030 8. Social Security System (SSS) 9. Extended Producer Responsibility (EPR) 10. Environmental Sustainability