BUSINESS ETHICS AND
SOCIAL RESPONSIBILITY
Business Ethics and
Social Responsibility
The Core Principles of Good Corporate Governance
Transparency
Stewardship Business Fairness
Accountability
BRIEF INTRODUCTION
A Good Corporate Governance in all businesses and
even in non-profit organizations such as foundations
is very important in order to build trust and confidence
with the investors, donors, and the community in general.
A good corporate governance builds the integrity of the institution.
Below are the Core Principles of a Good Corporate Governance:
FAIRNESS
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Fairness comes from the old English word faeger, which means
“pleasing or attractive.” It is the quality of making judgments that are
free from discrimination. Fairness in the context of a business
organization involves balancing the interests involved in all decision-
making including any decisions related to hiring, firing (including the
investigatory process), and the compensation and rewards system.
Hiring the right people is one of the most important decisions
an organization makes.
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ACCOUNTABILITY
Accountability is the obligation of an individual or organization to
account
for its activities, accept responsibility for them, and to disclose the
results in a
transparent manner.
Accountability in the context of a business organization is the
obligation to
demonstrate that work has been conducted in compliance with agreed
rules and
standards or to report fairly and accurately on performance results vis-
à-vis
mandated roles and/or plans.
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TRANSPARENCY
Transparency is defined as being authentic in the way an organization
message themselves externally – to stakeholders, to prospective
customers and
talent, and within the community. It allows stakeholders to understand
whether
the activities of social institutions provide a genuine service to civil
society and
whether money is used appropriately.
Thus, transparency means there is lack of hidden agendas or conditions,
accompanied by the availability of full information required of
collaboration,
cooperation, and collective decision-making.
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STEWARDSHIP
In Biblical terms, stewardship is defined as utilizing and managing all
resources God provides for the glory of God and the betterment of His
creation.
That definition plays a critical role in today’s business landscape. In the
context
of business organization, stewardship refers to taking responsibility for
the
business and the effects it has on the world around it. This involves
considering
more than just the bottom line and looking at elements such as values,
ethics,
and morals
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Accountability means to be liable in explaining or justifying one’s
action and
one’s decision.
Fairness is the quality of making judgements that is free from
discrimination.
Stewardship is a practice wherein people are intrinsically motivated to
work
for others or for organizations to accomplish the tasks and
responsibilities with which they have been entrusted.
Transparency is an important mechanism for granting social
responsibility.
REFLECTIVE LEARNING SHEET
As the country continues to deal with myriad COVID-19 pandemic,
Filipinos need to work to earn money to improve life as well as to help others.
Work is part of God’s design to humanity. It is a calling entrusted to
man where it requires stewardship of time, resources, and giftedness.
As an employee or worker, you should never steal from your company.
You should obey and honor the managers of your company. It is not only out
of obligation, but for personal growth as well.
As an employer, you are called to be a good steward of your resources
especially the people who work for you. You are blessed by God to be a blessing
to others. As 1 John 3:17 says, “But if anyone has the world’s goods and sees
his brother in need, yet closes his heart against him, how does God’s love abide
in him?”
The pandemic is now challenging you. What does it mean to be a
steward in your home? in school? in community? in workplace?
.
Thank you everyone.
Be ready for an Activity.
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