ethics 3

• Sensible and Attractive Salary


  The company should have attractive compensation packages to attract more potential talents to join the organization who can be of help in the achievement of the long-term goals of the company. This can be also a source of motivation for employees to do the job well assigned to them according to the plans of the organization.
• Assignment of Right Jobs


  Taking into consideration the technical and the educational background of the employees in assigning them to the job where they are good at. No mismatching of jobs with employees' qualification.
• Provide Security of Employment


  The entrepreneur should give their employees job security in the organization so that these employees will be motivated to work with utmost dedication and commitment. Employees will no longer have fear to lose the job and thus, develops higher degree of faith with their employer.
• Provide Best Working Environments


  Making sure that the physical environment of the workers are well taken-cared of by providing good lighting, proper temperature and workable space for the employees is an accountability by the entrepreneur. This will make the workers comfortable working in their own department.
• Assumption of Welfare Arrangements


  Entrepreneurs are also responsible in the welfare of their employees. It is their accountability to provide financial support during sickness, old age, accidents and even death. Even at the time of health crisis where there are unemployment, employers should also provide financial assistance.
• Humane Behavior towards employees


  Employees should be treated compassionately by allowing them to practice their rights and enjoy being workers of the company. Entrepreneur should create humane workplace necessary for the workers to do the things that they are tasked to do.
• Formation of Small Business Relations


  Establishment of good relationship with the employees to protect the interests of everyone. An organization with good industrial relations may have effective communication lines which is very important in any organization.
• Participation in Profits and Management


  There are instances when employers share their profits to the employees. This is based on the principle that profit of the organization is not of the owner alone but also for the rest of the employees of the organization. This can be one of the responsibilities of the entrepreneur.
• Definite Service Surroundings


  The employees should also have full knowledge of all these service conditions that may cover promotions, appointment, penalties, suspensions and dismissals as well as retirements, service period. There must be clear and well-defined structure of these areas of employment.
• Espouse Incentives Wages Structure


  One way of inspiring employees to aspire for higher quality of work is to give them incentives and salaries. These provisions will be beneficial to both the workers and the enterprise.
• Pay Fair Prices of Goods at a reasonable time


  Entrepreneurs have the responsibility to pay for the agreed prices with the suppliers. This helps in the establishment of good relationship with the suppliers. On the other hand, it is also the responsibility of the entrepreneurs to pay their creditors at an agreed term.
• Inform about Changes in Market


  Information on the Changes in the market should be provided by the entrepreneur to his supplier especially on the demands of the commodities.
• Give Guarantee of Minimum Price


  The entrepreneurs should give the assurance of lowest prices to the suppliers so that the certainty of the price will be sustained.
• Provide Technical Advice


  The entrepreneur has the responsibility to provide procedural assistance his suppliers for the creation of new and replaced supplies.
• Inform Suppliers of Future Developments


  Provision of information on future growths to the suppliers so that suppliers will be aware of these circumstances and that they will develop themselves in line with the changes of the business environment.
• Promote Healthy Competition


  Any unhealthy and hostile competitions among suppliers should not be allowed by the entrepreneur. This is one of the accountabilities of an entrepreneur to his creditors and suppliers.
• Determination of Fair Prices


  Entrepreneurs should identify just process for the goods and services so that customers will develop trust on the product and in the long run, they also develop loyalty to the business as well as to the product.
• To Render Good and Economic Services


  Good customer service is very important in a business. It is the responsibility of the entrepreneurs to provide good and cheaper services to the customers.
• Standardization of Goods


  The entrepreneurs should make sure that the product or the goods bought by the customers are in good condition so that it will not provide danger to the customers when they use it. Goods and services should pass the quality standards set by the company as well as the government.
• Best and Economic Packing of Products


  Packaging is an important marketing strategy. The goods and services should be packed well to prevent damage of the product.
• Right and Truthful Advertising


  Truthful and honest in advertising are very essential in marketing the product. It is a moral and a social responsibility of the entrepreneurs.
• To Avoid Adulteration, Low Weight and Measurement of Products


  Products should be produced following the specific designs set by the quality standards of the company. Tarnishing of live-saving goods such as medicines are harmful to life.
• Compliance of Government Rules


  The entrepreneur should be law abiding. Whatever will be required by the government, the entrepreneur should comply with it in accordance with the law. The entrepreneur should comply with the laws concerning attainment of licenses for a particular business, running of the business, price identification and even production of goods and services.
• Payment of Taxes


  Any business is taxed by the government. The entrepreneur should follow the imposition of taxes such as income tax and sales tax. There should be honest declaration of income so that it will be taxed accordingly.
• Not to Seek Political Patronage by Unfair Means


  It is the responsibility of the entrepreneur not to seek for any political support through provision of unnecessary economic help to any political party or politicians especially during elections.
• Work together with Government for Commercial Development


  The entrepreneur should cooperate to the government by appropriate application of existing resources in harmony with the government objectives. For example, the Philippine government aims to increase employment for retrenched employees during the health crisis. Therefore, the entrepreneur should help the government achieve its aims.
• Favouritism/Partiality


  Entrepreneurs should not be biased when it comes to hiring employees and in making decisions in other aspects. You don't hire a less qualified job candidate because he is related to you or because he is your favorite. It is not only unethical but you are also hiring someone who is not best for the position.
• Copyright Violation


  The mistake of infringing copyrights of other businesses is an abuse of the law. It is important that you should ask permission from the rightful owner before you use their own creations for business.
• Overworking Your Staff


  Entrepreneurs asking too much work from their employees without even understanding their situations is unethical. Entrepreneurs should know their limit in assigning workloads to their employees.
• Tax Accounting and Dishonesty of Expenses


  Dishonesty in declaration of assets and income just to get lower tax is unethical. It is important that the entrepreneur should not mix personal and business expenses. Not doing it right mind end up in trouble with the law.
• Claiming Income


  Hiding income generated and not declaring it may hamper the business because it will deprive the government from collecting from these entrepreneurs. This qualifies as unethical because there is dishonesty in this situation.
• Hiding Blemishes During Fundraising


  It can be very tempting to slightly exaggerate things while on the hunt for investment and it is a very slippery slope with no real upside. You either lose credibility/trust later on or commit yourself to an unrealistic timeline that will only frustrate those who have bought into your dream. Be optimistic but realistic with where challenges might occur. Openness and honesty help ensure a good fit.
• Merging Personal and Business Accounts


  Never merge personal income with business income. Entrepreneurs should be sensible with their expenses. Proper payroll or paying quarterly taxes should be observed.
• Hiring someone to write fake reviews


  Hiring people to write fake reviews about the company is unethical. There also companies being paid just create fake survey results just like TV ratings. This action is not ethical because these businessmen are giving fake information about their company just to appear positive online.
• Economic Model


  • This model is followed by entrepreneurs on the purpose to increase the profit of the company. This is otherwise known as the profit-based social responsibility of the business. A business is an organization that produces goods and services. In this connection, the society and the community benefits from it because jobs are created and wealth is collected.
• Philanthropic Model


  • The entrepreneur, just like any other individuals, is free to contribute to social causes in form of philanthropic action. Although corporations and businesses have no obligations to contribute to social causes, it may be contributory to its good reputation. Businesses are encouraged to do charitable works because it does not only help the community but it also helps the company to have good public relations, tax deductions and good will.
• Social Web Model (Ethical)


  • It projects business as a citizen of the society in which it functions as such. Just like all members of a society business must obey to the normal ethical duties that every citizen of the community faces. It is the duty of the corporation to comply with the law of the community.
• Integrative Model


  • There is combination of social goals with economic objectives of the organization. Most of the successful corporations have recognized that some for-profit organizations also have social goals as a fundamental part of the organizational strategy.