business ethics

• Social responsibility


  A person's obligation to think about the effects of his decisions and actions on the whole social system
• Responsibility


  Can be shared
• Accountability


  Cannot be shared, means being responsible for something and liable for every decision made
• Responsibilities of entrepreneurs towards employees

  • Right to equal employment opportunities
  • Basic employee right to security of tenure
  • Workdays and work hours
  • Weekly rest day
  • Wage and wage related benefits
  • Working condition
• Responsibilities of businesses towards the government

  • Compliance of government rules
  • Regular and honest payment of taxes
  • Cooperate with the government for economic development
  • Follow waste management control and all other government policies
• Responsibilities of businesses towards suppliers

  • Fair payment of prices for goods and services at a reasonable time
  • Inform any changes in the business or in the market
  • Coordinate future developments
  • Promote healthy competition
• Responsibilities of businesses towards creditors

  • Strictly follow the loans agreement
  • Ensure business ethics are being practiced
  • Proper utilization of loans
  • Ensure regular payment of any financial accountabilities
• Responsibilities of businesses towards consumers and general public

  • Supplying quality goods or services
  • Provide after sales service
  • Protect consumers against deceptive advertising, concealed facts, gross distortions, mislabeling or incomplete labeling, fine print warranties and guarantees, and any business practices that can endanger consumers
• Rights of consumers


  • The right to basic needs
  • The right to safety
  • The right to information
  • The right to choose
  • The right to representation
  • The right to redress
  • The right to consumer education
  • The right to healthy environment
• Every business must protect the environment and the society. It is therefore their responsibility to promote public health, proper segregation of waste must be done, a care for the environment is very important.
• Every company must meet its obligations to its stakeholders. Stakeholders are the individuals or groups to whom a business has a responsibility. The stakeholders of a business are its employees, its customers, the public, and its investors.
• Ayala Corporation is one of the top companies in the Philippines with principal business interests in various sectors including education.
• APEC Schools is a joint venture between Ayala Corporation and UK's Pearson, through the Pearson Affordable Learning Fund.
• APEC Schools operates a chain of private high schools offering Grade 7 through 12, following the Department of Education K to 12 curriculum.
• APEC Schools' progressive teaching methods encourage active and collaborative learning, and they do not implement entrance tests for Grade 7 applicants.
• The vision of APEC Schools is to transform thousands of Filipino lives by providing high-quality private education that everyone can afford.
• Corporate Social Responsibility (CSR)


  The approach that an organization takes in assessing its responsibilities toward different stakeholders when making legal, economic, ethical, and social decisions
• Ayala Corporation engaged in CSR investments in education


  To help improve the quality of education in the country, particularly in the public sector
• Companies engage in CSR projects


  They derive benefits from it
• CSR is profitable for companies

  Yes, because it helps them fulfill their responsibilities to stakeholders and contribute to the greater good