R&A 2

• Employees


  • Train Employees
  • Insurance and benefits
  • Respect Human Rights
  • Pay Wages
• Training employees


  Directly impacts the business because it gives the workers a better understanding of their responsibility and the knowledge and skills to do their jobs better
• Training


  • Leadership Training
• Mandatory employee benefits


  13th-month pay, holiday pay, and contributions to the Social Security System (SSS) and the Philippine Health Insurance Corporation (PhilHealth)
• Reason for mandatory benefits is RA 1161 or An Act to create a social security system providing sickness, unemployment retirement, disability and death benefit for employees
• 7 basic rights of a worker

  • Right to self-organization
  • Right to collective bargaining and negotiations
  • Peaceful concerted activities
  • The right to strike in accordance with law
  • Security of tenure
  • Humane conditions of work
  • A living wage
• Entrepreneurs must pay wages to employees
• Government


  • Paying Taxes
  • Abide by labor laws
  • Follow environmental regulations
• Paying taxes


  Accurately reporting business income, filing tax returns, and fulfilling tax obligations to contribute to government revenue for public services, infrastructure development, and social welfare programs
• Abiding by labor laws

  Providing fair wages, protecting employee rights, and ensuring fair and equitable treatment
• Abiding by labor laws


  • Providing bonus for overtime work
• Following environmental regulations


  Minimising negative environmental impact, proper disposal of hazardous materials
• Creditors


  • Giving correct information
  • Providing fair return on investment
• Providing correct information to creditors


  Sharing financial statements, business performance reports, and other relevant information to build trust
• Providing fair return on investment to creditors

  Using funds effectively, making timely repayments, and honoring agreed-upon interest rates or profit-sharing arrangements
• Consumers


  • Ensure quality of products and services
  • Be fair with prices
  • Ensure consumers health and safety
  • Attend to complaints
  • Be honest in dealings
  • Treat customers well
  • Be honest in advertising marketing
• Entrepreneurs are responsible for providing high quality products and services to meet or exceed consumer expectations
• Entrepreneurs should set fair and reasonable prices to build customer trust
• Entrepreneurs must prioritise consumer health and safety by providing safe and reliable products and services
• Entrepreneurs should address consumer complaints and take necessary actions to resolve issues and improve customer satisfaction
• Entrepreneurs must conduct business with honesty, integrity and provide accurate information, avoiding deceptive practices
• Entrepreneurs should treat customers with respect and professionalism to build positive relationships and loyalty
• Entrepreneurs should ensure advertising and marketing practices are truthful, transparent and comply with relevant regulations
• Suppliers


  • Practice for pricing and licensing
  • Maintain stability and confidentiality
  • Pay on time
  • Select suppliers with discernment
• Entrepreneurs should offer fair prices to suppliers and comply with business agreements
• Entrepreneurs must maintain stable business relationships with suppliers and ensure confidentiality of sensitive information
• Entrepreneurs should honor payment agreements with suppliers and make timely payments
• Entrepreneurs should carefully select suppliers based on factors like quality, reliability, and ethical practices
• Community oriented


  A focus on benefiting and engaging with the broader community beyond just the business itself, such as supporting local initiatives or being environmentally conscious
• Community oriented actions


  • Allocating funds to build new classrooms, donating books, computers, or other school materials
• Environment


  • Comply with environmental legislation
  • Conserve and protect biodiversity
• Entrepreneurs must follow environmental laws to protect the environment and their business reputation
• Entrepreneurs should protect biodiversity to keep the planet healthy and ensure enough resources for the future, avoiding harm to animal life and habitats