Ethics Compilation

7/29/2019 Ethics Compilation

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Bulacan State University

College of Business Administration

Business Ethics

Ethics

Also known as known as moral philosophy, is a branch of philosophy that involves

systematizing, defending and recommending concepts of right and wrong conduct. The term comes

from the Greek word ethos, which means character. Ethics is a compliment to Aesthetics in the

philosophy field of Axiology. In, philosophy, Ethics studies the moral behavior in humans and how

one should act. Ethics may be:

Business(also known as enterprise or firm) is an organization involved in the trade of goods,

services or both to consumers. Businesses are predominant in capitalist economies, where most of

them are privately owned and administered to provide service to customers. Businesses may also be

not-for-profit or state-owned. A business owned by multiple individuals may be referred to as a

company, although that term also has a more precise meaning.

Characteristics of Business

1. Entrepreneur2. Deals in goods and services3. Involve production or exchange in goods4. Series of deals5. Desire to earn profit6. Involves element of risks7. Creation of utilities, etc.

Importance of Business Ethics

Ethics in business are not only common sense, but business sense as well, no matter if you

run a huge corporation or a little home business from your garage.

Some people raise hell when they get bad service or are overcharged for a product. But the vast

majority of people are too busy or too tired to make a scene or write letters of complaint. This

majority of customers just make a quiet mental note of what a useless business you have, and vow

to never go back there, and they usually dont. These days of online shopping and delivery to your

doorstep services, its really easy to find an alternative supplier.So honestly and respect really do pay in the business world, especially in the long term. Many

hot shot whizz kids have made their fortune by partially ignoring business ethics and honesty, and

this was one of the main contributing factors to the latest recession we are presently enduring. Bad

ethics and dishonesty, greed and rudeness do not help a business at all, and the business will

collapse when the customers all go elsewhere, or when the whizz kid crookedness is found out and

punished.


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It doesnt take a rocket scientist to work these simple principles out. So why do highly

educated professionals and seasoned businessmen and entrepreneurs make the mistake of forgetting

business ethics? It requires the courage of your convictions and good moral base in the individuals.

Dishonesty does give you cash in the short term, much like sawing off the branch that you are sitting

on gives you timber for a short time. So it will always be a temptation to those with weak morals

coupled with financial pressure. In many cases it takes rough courage to be honest, but out if the

troubles that businesses go through, its reputation grows, and businesses with good reputations are

successful businesses. Naturally, you still need a good business plan and a hungry market, as well as

ethics, to be successful. But good ethics are vital to keeping you successful.

Prepared by: Jeanky Lou Cerillo

June 17, 2013


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Business Ethics

Businessmans Myth about Ethics

Myth #1: Professional ethics can be separated from personal ethics.A variation of the first

myth is that we can live however we wish in our personal lives as long as we act ethically on the job.

Aristotle discards such a juvenile idea when he proclaims that my character is the sum of all my

habits. If I lie habitually in my personal life, then I am not building the strength or the character to

stand true at other times. If I lie in my personal life, then likely I will lie in business situations. I will

be too weak to resist future temptations of prevarication, even if they take place in the business

realm.

Myth #2: Ethics is matter of education alone. To act in an ethical way, one must understand

his or her duties and obligations. Obliviously, education has a role to play in instructing folks abouttheir ethical responsibilities. I have learned, however, that education alone does not produce ethical

people, for some very highly educated people act thoughtlessly and selfishly and unethically. To steer

citizens toward more ethical behavior, we must supplement education with enforcement with

enforcement. When individuals break the rules, they need to suffer ill consequences. Enforcement

incorporates justice into the social setting as well as providing disincentives for others to engage in

unethical behavior.

Myth #3: Responsibility for ethical education rests with colleges and universities. The

calls for more ethics training at colleges and universities make me laugh. O wonder where were theparents, the churches, the K-12 teachers, the Little League coaches, and the Girl Scout leaders? Does

our society really think that if we ignore ethics for 18 years that all can be made up during the

college years? It is no wonder that we have a crisis of values!

Myth #4:You either are an ethical person or you are not. This myth has several problems.

The first mistake is that this assertion presumes that education and enforcement and habit building

have no role to play. Clearly, they do. The second problem with this thought is that it assumes

perfection but all people have ethical lapses. (I silently chuckle whenever people inform me that they

never lie, because they just did). What differentiates the two groups is that an ethical person willadmit the error, try to make amends, and learn from the transgression. Unethical people cover up the

blunder, do not care about the consequences of their sin, and learn nothing from the experience.

Myth #5: Business ethics is more a matter of religion than management.Altering peoples

values or souls isnt the aim of an organizational ethics program managing values and conflict

among them is


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Myth #6: Business ethics is superfluousit only asserts the obvious: do good!.Many

people react that codes of ethics, or lists of ethical values to which the organization aspires, are

rather superfluous because they represent values to which everyone should naturally spire. The value

of a code of ethics to an organization is its priority and focus regarding certain ethical values in that

workplace. Its obvious that all people should be honest. If an organization is struggling around

continuing occasions of deceit in the workplace, a priority on honesty is very timely and honesty

should be listed in that organizations code of ethics. note that a code of ethics is an organic

instrument that changes with the needs of society and the organization.

Myth #7: Business ethics is a matter of the good guys preaching to the bad guys. Some

writers do seems to claim a moral high ground while lamenting the poor condition of business and its

leaders. However, those people well versed in managing organizations realize that good people can

take bad actions, particularly when stressed or confused. (Stress or confusion are not excuses for

unethical actions they are reasons). Managing ethics in the workplace includes all of us working

together to help each other remain ethical and to work through confusing and stressful dilemmas.

Myth #8: Ethics cant be managed.Actually, ethics is always managed but, too often,

indirectly. For example, the behavior of the organizations founder or current leader is a strong moral

influence, or directive if you will, on behavior or employees in the workplace. Strategic priorities

(profit maximization, expanding market share, cutting costs, etc.) can be very strong influences on

morality. Laws, regulations and rules directly influence behaviors to be more ethical, usually in a

manner that improves the general good and/or minimizes harm to the community. Some are still

skeptical about business ethics, believing you cant manage values in an organization. Donaldson and

Davis (Management Decision, V28, N6) note that management, after all, is a value system. Skeptics

might consider the tremendous influence of several codes of ethics, such as the 10

Commandments in Christian religions or the U.S. Constitution. Codes can be very powerful in smallerorganizations a well.

Myth #9: Our organization is not in trouble with the law, so were ethical. One can often be

unethical, yet operate within the limits of the law, e.g., withhold information from superiors fudge on

budgets , constantly complain about other, etc. however, breaking the law often starts with unethical

behavior that has gone unnoticed. Theboil the frog phenomena is a useful parable here: if you put

a frog in a hot water, it immediately jumps out. If you put a frog in cool water and slowly heat up the

water, you can eventually boil the frog. The frog doesnt seem to notice the adverse change in its

environment.

Relationship between Ethics and Business

The relationship between business and ethics is intrinsically entwined. A successful company is

one which can effectively recognize and cultivate the relationship which exists between the two.

The relationship between business and ethics is inherently linked, but there are some who fail

to make this connection. To determine business is business is not accurate as responsible (ethical)

decision making is an important component of doing good business.


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Reaction:

Being ethical is not the same as doing "whatever society accepts." In any society, most people accept

standards that are, in fact, ethical. But standards of behavior in society can deviate from what is ethical. An

entire society can become ethically corrupt. Nazi Germany is a good example of a morally corrupt society. In

this topic there are different myths of businessman like - professional ethics can be separated from personal

ethics, ethics is matter of education alone, responsibility for ethical education rests with colleges and

universities, you either are an ethical person or you are not, business ethics is more a matter of

religion than management, business ethics is superfluousit only asserts the obvious: do good!,

and etc. The essence of studying Business Ethics is to provide managers and decision makers with a

framework for the resolution of moral issues and problems affecting business activities and the

organization. Moral reasoning is a process in which ethical issues and problems are benchmarked

against a moral standard so that a moral judgment is made possible. Since managers are tasked tosolve problems in the organization and its activities, it is also the responsibility of managers to help in

the resolution, if not, prevention of moral problems in business activities and the enterprise.


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Business Ethics

Morality

Principles concerning the distinction between the right and wrong / good and bad behavior. Principles or habit with respect to the right or wrong conduct. It defines how things should

work according to an individual ideals and principles.

Business Ethics

Business Ethics is the study of what is right and wrong human behavior and conduct inbusiness.

Business Ethics is a study of the perceptions of people about morality, moral norms, moralrules, and ethical principles as they apply and institutions in business.

Ethics in business are nothing but the dos and dont s by the users in the business.Profit Motive

The incentive or desire to work or form a business in order to gain profit or make financialgains.

Profit-motive is an ethical issue operates within two important aspects of our human conduct-freedom and the structure of business. The element of freedom implies that businessmen have

the right to decide on the amount of profit they want to earn in the process of selling goods

and services to customers.

The Good and the Bad Sides of Profit-Motive

The Good Side of Profit-Motive

1. Profit motive motivates people to do something meaningful, e.g., it gives human life a goal to

pursue and something to live for.

2. Profit-motive promotes ingenuity and cleverness in running a business, e.g., business leaders and

entrepreneurs have to struggle to overcome obstacles in order to achieve success.3. Profit-motive makes people productive. Because of their desire for money businessmen have

become productive and some of their products have been useful and have enhanced human life.

4. Profit-motive generates potential capital for the business. Profit is potential capital, something that

can be invested to establish new businesses. In this way, profit also results in more jobs and more

goods and services for the public and the society as a whole.


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The Bad Side of Profit-Motive

1. Profit-motive promotes rivalry among competitors. Sometimes the competition becomes stiff that it

results into a dog-eat-dog world of business where sources achieved by competing with others and

pushing them down in order that ones own business might succeed. This certainty dramatizes

business as an important human activity.

2. Profit-motive makes people focus only on making money, that is, to sell as many goods as possible

without considering whether or not these products satisfy the needs and wants of consumers and

end users.

3. Profit-motive turns businessman from being a reflective and a questioning person because it

focuses his attention on the practical activity of making money. Thus, a life centered on profit results

into a narrow existence, deficient in many important human dimensions.

4. Profit-motive promotes self-interest rather than the common good. The profit-motive, has to some

extent, benefited some businessmen but it has also created some social costs that many people, if

not the majority have to bear, e.g., depletion of the natural resources, toxic waster being thrown into

the rivers, pollution of the environment, and disregard for the next generation to come.

Prepared by: Jasmin Ruby S. Delos Santos

June 17, 2013


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Business Ethics

Problems of Ethical Relativism and Situation Ethics

Ethical relativism - is basically the theory that holds that morality is relative to the norms ofone's culture.

There are no universal moral standards - That is, whether an action is right or wrongdepends on the moral norms of the society in which it is practiced. The same action may be

morally right in one society but be morally wrong in another.

Some moral beliefs are culturally relative whereas others are not.Certain practices, such as customs regarding dress and decency, may depend on local custom

whereas other practices, such as slavery, torture, or political repression, may be governed by

universal moral standards and judged wrong despite the many other differences that exist

among cultures.

If the rightness or wrongness of an action depends on a society's norms, then it follows thatone must obey the norms of one's society and to diverge from those norms is to act

immorally.

Example:If I am a member of a society that believes that racial or sexist practices are morally

permissible, then I must accept those practices as morally right. But such a view promotes

social conformity and leaves no room for moral reform or improvement in a society.

Moral Sense in Us

Hume argued that moral evaluations arise from our sentiments.- When we observe a morally praiseworthy or blameworthy action, that action produces in

us a corresponding feeling of approval or disapproval.

- According to Hume, when we witness human suffering we are moved by feelings ofsympathy to disapprove of the cause of the suffering, because we can imagine ourselves in

that position.

Pinkner states that the moral sense may be rooted in the design of the normal human brain.Two Ethical Systems

Teleological ethical system isbased on the outcome of an act. If you do something that isbad as long as the outcome of that act is good then it is considered to be a good act.

Utilitarianism is the view that "what is good is determined by the consequences of theaction". If it can be shown that an action benefits the greater amount, than it is good

because it outweighs the small amount of harm that the action has caused.


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Ethics of virtues. Instead of judging the act or consequences, this ethical system looksat the person who is committing the act. It believes that in order for something to be

considered a good act then the person must be a good person. Good people and will do

good.

Virtue of care which is based on the needs of individuals who are sick, injured, orincapable to make decisions on their own. The decisions are based on the immediate

needs of individuals being cared for and doesn't concern itself with a person's individua

rights.

Deontological ethical system this system is based on the act itself. It is the normativeethical position that judges the morality of an action based on the action's adherence to a rule

or rules. Deontological ethical systems are concerned with the nature of an action that is being

judged. If the action is considered to be inherently good, even if the action has bad

consequences then it can be defined as good.

Preferred by: Katerine Lorenzo

July 1, 2013


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Reaction:

Problems of Ethical Relativism and Situation Ethics it is believed that the differential in norms

and culture result to ethical relativism, where in it is believed that because people where not always

brought up in same environment, norms and culture where in there are probably more differences inethical views rather than compatibility. In which may probably or most probably affect their views in

other sense or morality. Moral sense in us define also by are own views of what wrong and right for

us to be able to define others. We gather or base our own ideals through our ethical views.

Teleological ethical system for me means that as long as the result is good it doesnt matter or

what is the act made, while Utilitarianism is defined by the action itself when it is done meaning it

doesnt matter what the outcome will be as long as your action is based in good ethical view in

ethical virtue it is believe that act or outcome is good because I is judge by the person doing the act.


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Business Ethics

Human Conduct

It deals with right or wrong, obligation and permissions, what is above and beyond the call of duty,

and of what is so wrong as to be evil.

The Development of Human Conduct

A growing gap between rich and poor combined with accelerating environmental and social

disintegration offer powerful testimony to the failure of conventional developmental practice in

countries of both South and North.

Humanity has arrived at a moment of crucial choice that presents a unique challenge to its

collective intelligence and the technical and social advances it has so far achieved. The major hope

for mobilizing social forces behind the affirmative choice is found within an awakened global civil

society, an awakening already taking place.

This vision calls for an end to social and environmental exploitation by the powerful t the

expense of the powerless. In their place it envisions societies that empower people through economic

and political decentralization to regenerate the local communities and ecologies that such exploitation

ha s devastated.

Development of Business Ethics

Business ethics tend to cover various activity levels including responsibilities, obligations

employees, customers, businesses, environment, and national/multinational governments. There are

times when ethics is dictated by the folkways and conventions although there are also times when

federal laws affect it as well. This is where institutionalized business ethics enter the scenes which

include the contracts, product safety, pricing, warranties, and many others. There are now

professions and corporations that contribute to the establishment of the code of ethics. Researches

usually explore business ethics in three ways studying famous philosophers and their views,identifying ethical concerns, and examining various case studies.

The development of business ethics took a long time. It embraces different generations until

the present. The code cant be developed overnight. Businesses are expected to comply with the

code to make sure that operations are carried out properly and without violating morality. If you

want your business to stay competitive, it is important that you know the code of ethics.


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Defining Professionalism

The Merriam-Webster dictionary defines professionalism as "the conduct, aims, or qualities

that characterize or mark a profession or a professional person"; and it defines a profession as "a

calling requiring specialized knowledge and often long and intensive academic preparation." These

definitions imply that professionalism encompasses a number of different attributes, and, together,these attributes identify and define a professional.

So, what are these attributes?

Specialized Knowledge

First and foremost, professionals are known for their specialized knowledge. They've made a

deep personal commitment to develop and improve their skills, and, where appropriate, they have

the degrees and certifications that serve as the foundation of this knowledge.

Competency

Professionals get the job done. They're reliable, and they keep their promises. Professionals

don't make excuses, but focus on finding solutions.

Honesty and Integrity

Professionals exhibit qualities such as honesty and integrity. They keep their word, and they

can be trusted implicitly because of this. They never compromise their values, and will do the right

thing, even when it means taking a harder road. More than this, true professionals are humble if a

project or job falls outside their scope of expertise, they're not afraid to admit this.

Accountability

Professionals hold themselves accountable for their thoughts, words, and actions, especially

when they've made a mistake.

Self-Regulation

They also stay professional under pressure. They consider the emotions and needs of others,

and they don't let a bad day impact how they interact with colleagues or clients.


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InstitutionsAn institution is any structure or mechanism ofsocial order and cooperation governing the

behavior of a set ofindividuals within a given community.

ReligionAn organized collection ofbeliefs, cultural systems, and world views that relate humanity to

the supernatural, and to spirituality.

LanguageThe human capacity is for acquiring and using complex systems ofcommunication.

Education systemGeneral sense is a form oflearning in which the knowledge, skills, and habits of a group of

people are transferred from one generation to the next through teaching, training, or research.

Art and aestheticsIt is dealing with the nature ofart, beauty, and taste, with the creation and appreciation of

beauty.

Material culture and life-styleIt is the typical way of life of an individual, group or culture.

Preferred by: Kristine Paraiso

July 8, 2013
https://en.wikipedia.org/wiki/Social_structurehttps://en.wikipedia.org/wiki/Social_mechanismhttps://en.wikipedia.org/wiki/Social_orderhttps://en.wikipedia.org/wiki/Cooperationhttps://en.wikipedia.org/wiki/Behaviourhttps://en.wikipedia.org/wiki/Individualhttp://en.wikipedia.org/wiki/Belief_systemhttp://en.wikipedia.org/wiki/Cultural_systemhttp://en.wikipedia.org/wiki/World_viewhttp://en.wikipedia.org/wiki/Supernaturalhttp://en.wikipedia.org/wiki/Spiritualityhttp://en.wikipedia.org/wiki/Humanhttp://en.wikipedia.org/wiki/Communicationhttp://en.wikipedia.org/wiki/Learninghttp://en.wikipedia.org/wiki/Knowledgehttp://en.wikipedia.org/wiki/Skillshttp://en.wikipedia.org/wiki/Habit_%28psychology%29https://en.wikipedia.org/wiki/Arthttps://en.wikipedia.org/wiki/Beautyhttps://en.wikipedia.org/wiki/Taste_%28sociology%29https://en.wikipedia.org/wiki/Taste_%28sociology%29https://en.wikipedia.org/wiki/Beautyhttps://en.wikipedia.org/wiki/Arthttp://en.wikipedia.org/wiki/Habit_%28psychology%29http://en.wikipedia.org/wiki/Skillshttp://en.wikipedia.org/wiki/Knowledgehttp://en.wikipedia.org/wiki/Learninghttp://en.wikipedia.org/wiki/Communicationhttp://en.wikipedia.org/wiki/Humanhttp://en.wikipedia.org/wiki/Spiritualityhttp://en.wikipedia.org/wiki/Supernaturalhttp://en.wikipedia.org/wiki/World_viewhttp://en.wikipedia.org/wiki/Cultural_systemhttp://en.wikipedia.org/wiki/Belief_systemhttps://en.wikipedia.org/wiki/Individualhttps://en.wikipedia.org/wiki/Behaviourhttps://en.wikipedia.org/wiki/Cooperationhttps://en.wikipedia.org/wiki/Social_orderhttps://en.wikipedia.org/wiki/Social_mechanismhttps://en.wikipedia.org/wiki/Social_structure


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Gift-giving occasion may be:

Expression oflove or friendship. Expression ofgratitude for a gift received. Expression ofpiety, in the form ofcharity. Expression ofsolidarity, in the form ofmutual aid. To share wealth. To offset misfortune. Offering travel souvenirs.

At common law, for a gift to have legal effect, it was required that there be (1) intent by the

donor to give a gift, and (2) delivery to the recipient of the item to be given as a gift.

In some contexts gift giving can be construed as bribery.

Bribery is an act of giving money or gift giving that alters the behavior of the recipient.

Bribery constitutes a crime and is defined byBlack's Law Dictionaryas the offering, giving, receiving,

or soliciting of any item of value to influence the actions of an official or other person in charge of a

public or legal duty.

The bribe is the gift bestowed to influence the recipient's conduct. It may be

any money, good, right in action, property, preferment, privilege, emolument, object of value,

advantage, or merely a promise or undertaking to induce or influence the action, vote, or influence of

a person in an official or public capacity.

Preferred by: Irvin Pacheco

July 22, 2023
http://en.wikipedia.org/wiki/Lovehttp://en.wikipedia.org/wiki/Friendshiphttp://en.wikipedia.org/wiki/Gratitudehttp://en.wikipedia.org/wiki/Pietyhttp://en.wikipedia.org/wiki/Almshttp://en.wikipedia.org/wiki/Solidarity_(sociology)http://en.wikipedia.org/wiki/Mutual_aid_(organization)http://en.wikipedia.org/wiki/Souvenirhttp://en.wikipedia.org/wiki/Common_lawhttp://en.wikipedia.org/wiki/Briberyhttp://en.wikipedia.org/wiki/Black%27s_Law_Dictionaryhttp://en.wikipedia.org/wiki/Black%27s_Law_Dictionaryhttp://en.wikipedia.org/wiki/Black%27s_Law_Dictionaryhttp://en.wikipedia.org/wiki/Offer_and_acceptancehttp://en.wikipedia.org/wiki/Gifthttp://en.wikipedia.org/wiki/Offer_and_acceptancehttp://en.wikipedia.org/wiki/Solicitationhttp://en.wikipedia.org/wiki/Legalhttp://en.wikipedia.org/wiki/Dutyhttp://en.wikipedia.org/wiki/Moneyhttp://en.wikipedia.org/wiki/Good_(accounting)http://en.wikipedia.org/wiki/Chose_(English_law)http://en.wikipedia.org/wiki/Propertyhttp://en.wikipedia.org/wiki/Remunerationhttp://en.wikipedia.org/wiki/Remunerationhttp://en.wikipedia.org/wiki/Propertyhttp://en.wikipedia.org/wiki/Chose_(English_law)http://en.wikipedia.org/wiki/Good_(accounting)http://en.wikipedia.org/wiki/Moneyhttp://en.wikipedia.org/wiki/Dutyhttp://en.wikipedia.org/wiki/Legalhttp://en.wikipedia.org/wiki/Solicitationhttp://en.wikipedia.org/wiki/Offer_and_acceptancehttp://en.wikipedia.org/wiki/Gifthttp://en.wikipedia.org/wiki/Offer_and_acceptancehttp://en.wikipedia.org/wiki/Black%27s_Law_Dictionaryhttp://en.wikipedia.org/wiki/Briberyhttp://en.wikipedia.org/wiki/Common_lawhttp://en.wikipedia.org/wiki/Souvenirhttp://en.wikipedia.org/wiki/Mutual_aid_(organization)http://en.wikipedia.org/wiki/Solidarity_(sociology)http://en.wikipedia.org/wiki/Almshttp://en.wikipedia.org/wiki/Pietyhttp://en.wikipedia.org/wiki/Gratitudehttp://en.wikipedia.org/wiki/Friendshiphttp://en.wikipedia.org/wiki/Love


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Reaction:

We know that sexual harassment is bullying or coercion of a sexual nature, or the unwelcome

or inappropriate promise of rewards in exchange for sexual favors like actual or attempted rape or

sexual assault, unwanted pressure for sexual favors, unwanted deliberate touching, leaning over,cornering, or pinching and etc,.

Gift-giving and bribery is gift or present given without the expectation of payment although it

involves reciprocity. It is free, it can be refer to anything that makes other happier less sad especially

as a favor; including forgiveness and kindness in occasions such as expression of love or friendship,

gratitude for a gift received, ofpiety, in the form ofcharity and etc,. At a common law says that for

gift to have legal effect, it was required that there be intent by the donor to give a gift, and delivery

to the recipient of the item to be given as a gift. Bribery means an act of giving money or gift-giving

that alters the behavior of the recipient. It is considered a crime because it influence the recipients

conducts and influence a person in an official or public capacity.
http://en.wikipedia.org/wiki/Bullyinghttp://en.wikipedia.org/wiki/Coercionhttp://en.wikipedia.org/wiki/Gratitudehttp://en.wikipedia.org/wiki/Pietyhttp://en.wikipedia.org/wiki/Almshttp://en.wikipedia.org/wiki/Almshttp://en.wikipedia.org/wiki/Pietyhttp://en.wikipedia.org/wiki/Gratitudehttp://en.wikipedia.org/wiki/Coercionhttp://en.wikipedia.org/wiki/Bullying


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Business Ethics

Topic1: The Morality of Advertising

Advertising- any paid form of presentation of ideas, goods, services and organization of an

identified sponsor.

Point of Morality

Advertising in itself is not bad or immoral since it helps achieve the goals of both the seller andbuyer.

It only becomes immoral when, in the attempt to persuade consumers, the advertisement becomedeceptive, misleading and manipulative.

There is only one criterion in evaluating the morality of advertising, and that is the truth. Truthful information is morally permissible False statement/lies is immoral

Some Issues in Advertising

1. Deceptive2. Use of weasel words3.

Exaggeration

4. Psychological appeals5.Ads directed at childrenTopic2: Office Romance

is defined as a relationship between two people who are employed by the same organization.

The Companys Stand

The company is trapped in the middle of office romances present in the organization. This is why alot of companies come up with the policy that covers office romances and educate all employees on

the guidelines and effects through trainings and seminars.

Benefits of Office Romance

It includes friendship, mutual support to each other at work, and other personal experiences.


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Reaction:

Advertising is any paid form of presentation of ideas, goods, services and organization of anidentified sponsor. In point of morality advertising it self is not bad or immoral since it help achieve

goals of both the seller and buyer. It only becomes immoral when in an attempt to persuade the

consumers, the advertisement become deceptive, misleading and manipulative. Truth is only criterion

in evaluating the morality of advertising truthful information is morally permissible false

statement/lies is immoral. Some Issues in Advertising are; deceptive, use of weasel words,

exaggeration, psychological appeals and ads directed at children.


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Business Ethics

Trade secrets and corporate disclosure

Trade secrets is formula, practice, process, design, instrument or compilation of informationwhich is not generally known, by which a business can obtain an economic advantage over

competitors and customers. Such secrets are referred as confidential information but are generally

not referred as classified information (Classified information is a term applied to material that a

government claims is sensitive information that requires secrecy based on security needs.)

Example:

There is this wristbands which is named as Power balance. It was sold in many countries. It was

said that Power Balance will improve your strength, balance and flexibility. After some time, they

admitted that there is no credible scientific evidence that supports our claims and therefore we

engaged in misleading conduct.

Meaning that they kept it a secret that the effects of Power Balance are not scientifically proven but

they advertised that the effects of power balance will improve your athleticism.

Corporate Disclosure A firm has a proprietary right to its trade secret and information and

knowledge which it can legally and morally protect. But the law requires it to reveal large amount

information for public interest. Corporate disclosure provides financial reports, financial statement

and management discussion.

Though there are limitations to these moral principles:

a) Each person entering in to a contract or transaction has the right to the fullest and truestinformation.

b) Each person who is likely to be affected seriously has the right to know those actions ofothers.
https://en.wikipedia.org/wiki/Sensitive_informationhttps://en.wikipedia.org/wiki/Secrecyhttps://en.wikipedia.org/wiki/Secrecyhttps://en.wikipedia.org/wiki/Sensitive_information


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Product misrepresentation and Caveat Emptor

Misrepresentation - a tort or a civil wrong. This means that a misrepresentation can create a civil

liability if it results in a financial loss. Misrepresentation includes any untrue statements or statements

that are likely to mislead.Also includes the failure to state any information that is material and that

ought, in fairness, to be considered.

Example:

Sometimes people buy or sell things and discuss it over the internet. The buyer will buy an iPhone.

The seller knows that here are some defects on the product that he will sell but instead of telling him

the problems of his product, he said that it works properly so the value of the product will not

decrease.

Caveat Emptormeans let the buyer be aware in Latin. cavere, "to beware" emptor, "buyer". It

is awarning that notifies a buyer that the goods he or she is buying are "as is," or subject to all

defects. The basis that the buyer buys at his/her own risk and therefore should examine and test a

product himself/herself for obvious defects and imperfections.

Example:

The buyer will buy a car. He must take responsibility of checking and testing the car before

purchasing it. If something happens after the transaction was done, it is not the sellers

responsibility.

The morality of Labor strike

Labor strike is a work stoppage caused by the mass refusal of employees to work. A labor strike

usually takes place in response to employee distress. Mostly people go on labor strike because they

want a better wage, better benefits, and better working condition. Laborers go on strike so their

rights will be given importance. They want a better reward for the work they have done.

Example:

In a factory, there are laborers who are underpaid by the management. The laborers refused to work

until they are properly paid. They made a labor strike outside the factory. The result of their strike is

that the factory stopped functioning because the laborers did not work. Because of that, the

management was forced to give them their proper wages.

Prepared by: Kenneth Roque

August 5, 2013


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The topic of Trade Secrets what I know in this is, it is a formula, practice, process, design,

instrument or compilation of information, which is not generally known, by which a business way of

advertising a product or business by omitting facts which would be helpful in obtaining economic

advantage over business rivals.

In Corporation Disclosure though trade secrets are proprietary rights of a firm which it can ba

legally or morally protect, law still requires business to give or reveal large information or facts to

public or people entering a contract with their business to protect them from the bad effects by

action of others. If a specific product, businessman wants to engage some investors or prospect

customer they should reveal information or trade secrets regarding their product that could seriously

affects those said investors and prospect customer.

For Product Misrepresentation and Caveat Emptor, misrepresentation it is a tort or a civil

wrong and it is an omission of fact that may resulted for an investor to be unsatisfied or the sad

product. Caveat emptor it is where is an investor of the defects of a said product where in the some

investor or buyer is in full responsibility of the outcome. The Morality of Labor Strike is a natural

reaction or move of employees to a management when there are unsatisfactory by means of their

mistreatment given to them by the management either by unsatisfactory wages, benefits, working

conditions etc., and this act would usually result by the company stop functioning or management to

be forced to give what the employees want.

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Ethics Compilation