What are the business ethics in the Philippines?

Business ethics in the Philippines is highly embedded on the country’s geography, demographics, culture and history. The country generally follows Catholic-based ethical practices (86% of the total population are Roman Catholics), as influenced by the 300-year Spanish invasion strategy.

What are the business ethics challenges in the Philippines?

The rapid growth and liberalization of the economy, coupled with the inequitable distri- bution of wealth, the destruction of the environment and corruption are the main ethical concerns. Businesspersons and the academe endeavor to find creative solutions for these unique challenges.

What are the 7 business ethics?

He stressed that people follow ethical principles and listed following seven Social Sins: (i) Politics without Principles (ii) Wealth without Work (iii) Commerce without Morality (iv) Knowledge without Character (v) Pleasure without Conscience (vi) Science without Humanity (vii) Worship without Sacrifice.

What are business ethics examples?

12 examples of ethics for the workplace

  • Transparency.
  • Integrity.
  • Trustworthiness.
  • Loyalty.
  • Equality.
  • Compassion.
  • Respect.
  • Lawfulness.

What is the major Filipino values affecting business?

To be an embodiment of the values that every local enterprise should uphold, every Filipino business leader must be an exemplar of five particular traits: empathy, humility, curiosity, passion, and servant leadership.

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What is the importance of business ethics?

Business ethics enhances the law by outlining acceptable behaviors beyond government control. Corporations establish business ethics to promote integrity among their employees and gain trust from key stakeholders, such as investors and consumers.

What are the 3 C’s of business ethics?

The three C’s of business ethics include compliance, contributions and consequences.

What are the 7 codes of ethics?

Terms in this set (7)

  • Beneficence. concern for well-being and safety of clients.
  • Nonmeleficence. refrain from causing intentional harm to cliens.
  • Autonomy/Confidentiality. respect client’s rights and opinions.
  • Social Justice. provide services in a fair and equitable manner.
  • Procedural Justice. …
  • Veracity. …
  • Fidelity.

What is the difference between ethics and morals?

According to this understanding, “ethics” leans towards decisions based upon individual character, and the more subjective understanding of right and wrong by individuals – whereas “morals” emphasises the widely-shared communal or societal norms about right and wrong.

Why do ethical problems occur in business?

Ethical challenges occur within every business organization. … The four major factors that can cause ethical problems in the workplace are lack of integrity, organizational relationship problems, conflicts of interest, and misleading advertising. Trendon is a large financial investment company on Wall Street.

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