ETHICS

• business- Is an organization where economic resources or inputs, such as materials or services are brought together
• Types of business organization

  Service business

  Merchandising business

  Manufacturing business
• forms of business organization

  sole proprietorship

  Partnership

  Corporation
• Socio-economic development - is the process of social and economic development in a society.
• equality- focuses on treating everyone the same regardless of their circumstances.
• Equity- on the other hand, recognizes that people have different needs and circumstances.
• Fairness Refers to equal treatment.
• Accountability in business refers to the responsibility of individuals and organizations to fulfill their obligations
• Individual Accountability: Employees are responsible for completing tasks assigned
• Managerial Accountability: are accountable for the performance of their teams
• Organizational Accountability: The organization as a whole is accountable for its overall performance,
• Transparency in business refers to openly sharing information with stakeholders about the company's activities, decisions, and performance.
• Operational Transparency: This involves sharing information
• Financial Transparency: This involves disclosing financial information
• Stakeholder Transparency: This involves communicating openly with stakeholders such as employees,
• Vision Statement: - It describes what the organization hopes to achieve or become in the future.
• Mission Statement: - defines the fundamental purpose of the organization, including its goals, values, and approach to business
• Core Values and Principles - help to ensure that all the employees work towards the company goal.
• Socrates- dare to disagree - He believed that no person could willingly decide to do something damaging
• Plato- power to rule Good people do not need laws to tell them to act responsibly,
• Aristotle- Let people seek fulfillment They will be more motivated also they are given the opportunity to nourish their innate curiosity
• Immanuel Kant- Duty based ethics Willingness of individuals to act for the good of others
• Plutarch- Good role model - In the organization especially in business terms
• CHRISTIANITY- Charity and justice in business must be exercised
• JUDAISM- Even facing ethical dilemma, business should act with honesty, integrity, and compassion in decision-making
• BUDDHISM- businesses considering adopting environmentally friendly practices
• ISLAM- Interest is prohibited. Their moral practice is that one is not allowed to charge or take interest.
• HINDUISM- business leader who believes in the concept of duty (dharma)
• Vision Statement: - It describes what the organization hopes to achieve or become in the future.
• Mission Statement: - defines the fundamental purpose of the organization, including its goals, values, and approach to business.
• Core Values and Principles - help to ensure that all the employees work towards the company goal.
• Integrity: Acting with honesty, transparency, and ethical behavior in all interactions.
• Customer Focus: Putting the customer's needs and satisfaction at the center of business decisions.
• Innovative: Embracing creativity and continuous improvement to drive growth and competitiveness.
• Limited partnership- may agreement or contract
• General partnership- walang contract