What I Know….

I. Answer the following. Write the letter on your answer sheet.

_______1. Rosa is a newly hired bookkeeper in an accounting firm. She sees to it that every transaction
is recorded in the journal and ledger entries. What character trait does Rosa possess?
A. She is lax. B. She is detailed. C. She is frustrated. D. She is complacent.
_______2. Paolo, a maintenance assistant caught the cashier in the supermarket taking some money from the
counter and putting it inside her pocket. What do you think he should do?
A. Report immediately the incident to the manager.
B. Ignore because it is not his money.
C. Confront the cashier and tell her that you saw what she did.
D. Tell her you will not tell anyone unless she gives you a share on the money she stole.
_______3. Ely is always late coming to work yet he has no recorded tardiness because he and the timekeeper are
best friends. What character trait does he possess?
A. He is dishonest.
B. He is decent.
C. He is hardworking.
D. He is friendly.
_________4. As an employee assigned in a baggage counter, Maggie always make sure that all the items are in
safe and in good condition, because of this, many customers are really satisfied and secured in her service. What
can you say about Maggie?
A. Maggie is very trustworthy and dedicated.
B. Maggie is very dependable.
C. Maggie is a good steward.
D. All of the above
_______5. The class adviser of Grade 12 – ABM 1, Mrs. Tamayo, always makes sure that whenever there are school
activities, she gives all the members of the class chance to participate because she always believes that everyone
has his/her own talents and potentials. Based on the paragraph, what does Mrs. Tamayo want to imply to her
students?
A. Firmness B. Gentleness C. Fairness D. Politeness

Lesson 1

THE CORE PRINCIPLES OF GOOD

CORPORATE GOVERNANCE
LOOKING BACK TO YOUR LESSON……
Match Column A to Column B. Write the letter of the correct answer on the blank.
A B
______1. a business organization which is easiest to

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establish and has unlimited liabilities. A. Corporation

______2. a business organization of two or more people B. Sole Proprietorship as partners who
shares the profit and liabilities of the
_____3. a business organization which is hard to company.
establish and is subject to numerous government C. Partnership
regulations

WHAT IS IT…...
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
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.

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.

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.

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

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on the world around it. This involves considering more than just the bottom line and looking at elements such as
values, ethics, and morals.
WHAT’S MORE…..
Activity 1: TRUE OR FALSE

__________1. Fairness involves balancing the interests involved in all decision- making including decisions
related to employees’ hiring, firing, compensation, and reward system.
__________2. Transparency allows stakeholders to understand whether the activities of social institutions such
as internet organizations and NGOs provide a genuine service to civil society and whether money is used
appropriately.
__________3. Transparency means to be liable to explain or justify one’s action and decision.
__________4. Accountability is the quality of making judgment that is free from discrimination.
__________5. Accountability implies responsibility.

Activity 2: Choose the letter of the correct answer.

1. You insert the exact amount into the vending machine at school for a can of soda. Two cans are released from
the machine. What will you do with the extra can of soda.
a. Offer the can of juice to your classmate.
b. Keep the extra can of soda for you.
c. Report an incident to appropriate school personnel.
2. Employees expect that their employers will be transparent. What does this refer to?
a. The need for an office space to use glass walls.
b. Employees are responsible for their employer’s actions.
c. Employers to provide honest and clear information to their employees.
3. Joseph found out his teacher’s password to open her Facebook account. What is the ethically correct thing for
him to do?
a. Give the password to all other students.
b. Tell the teacher so she may change it.
c. Keep it to himself and if someone finds out the password it is not his problem.
4. Arriving to work on time is an example of which characteristic of a good employee?
a. Timeliness b. Personal accountability c. Adaptability
5. Providing wrong information on the resume is an example of which of the following:
a. Lack of transparency on employee’s part.
b. Poor transparency on an employer’s part.
c. Lack of accountability on an employer’s part.
What I Have Learned…..
DIRECTIONS: FILL IN THE BLANK THE CORRECT ANSWER.
1.______________ means to be liable in explaining or justifying one’s action and one’s decision.
2. ______________ is the quality of making judgements that is free from discrimination.
3. ______________ 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.
4._______________ is an important mechanism for granting social responsibility.

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5. ______________ is very important in order to build trust and confidence with the investors, donors, and the
community in general.
WHAT CAN I DO….
Identify what principle (Accountability, Fairness or Transparency) is being applied in the
following situations.

_______________1. Ms. Cruz uses rubrics in evaluating students’ task performance.

_______________2. Manuel L. Quezon High School implements guidelines in conducting school
activities like field trip.
_______________3. Mrs. Delos Reyes entertains queries of students on the computation of their
grades.
_______________4. Ms. Jimenez, the department head, reported the financial statement of the
department in full details.
_______________5. The school’s guard reported the incident to the guidance office.

Assessment….
I. Multiple Choice. Encircle the letter of the correct answer.

1. What is fairness?
a. Something that is beneficial for you.
b. Something that is beneficial for all of society.
c. The quality of treating people equally.
d. None of the above.
2. Stewardship is not limited to money. What other thing that God expects you manage?
a. Education b. Time c. Health
3. What does accountability refer to?
a. Being responsible for one’s action. b. Providing access to information.
c. The ability to hire and fire an employee d. All of the above
4. Which is considered unethical business practice?
a. Training employees unfairly. b. Selling quality product.
c. Good word of mouth from customers. d. All of the above
5. All of the following are considered abusive conduct in the workplace EXCEPT
a. Invading the personal space of co-workers. b. Insulting co-workers.
c. Receiving a performance review from a supervisor. d. Giving nasty gestures at co-workers.

II. CASE STUDY:

MANG EUGENIO VENTURA: FILIPINO TAXI DRIVER WITH A GOLDEN HEART

The story of Mang Eugenio Ventura, an extraordinary cab driver,

went viral in the social media when a passenger spread the good work about

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 him, not rejecting passengers (despite heavy traffic in Metro Manila) and
declining tips. Apart from being fair and honest, he is the jolly type – he just
laughs off the congestion on the main roads of the city. He got featured in an
episode of the TV Program “Mission Possible.”

Questions:

1. What do you think has molded the fair, honest and cheerful behavior of Mang Eugenio?
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
2. What lesson have you learned from the good example of Mang Eugenio?
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
3. In school, how can you teach and train students in fair, honest and ethical behavior?
_________________________________________________________________________
_______________________________________________________________________
________________________________________________________________________

Source: pinoystory.com/ scribd.com

References…..
Ahmed, A. (2029). Definition of stewardship. Retrieved on June 14, 2020 from https://bizfluent.com/about-4612393-definition-of-
stewardship.html
Business Dictionary.com. Accountability. Retrieved on June 14, 2020 from http://www.businessdictionary.com/definition/accountability.html
Campbell, M. (2020). Transparency in business: mean what you say. Retrieved on June 14, 2020 from
https://elementthree.com/blog/transparency-inbusiness-mean-what-you-say/
Christianity.com (2020). What are stewards in the Bible? Meaning and importance of stewardship. Retrieved on June 14, 2020 from
https://www.christianity.com/wiki/christian-terms/stewards-in-thebible-meaning-of-stewardship.html
Encyclopedia of Corporate Social Responsibility. (2013). Stewardship theory. Retrieved on June 14, 2020 from
https://link.springer.com/referenceworkentry/10.1007%2F978-3-64228036-8_107
Pinoy Story.com. (2020). Filipino taxi driver: Mr. Eugenio Ventura with a golden heart. Retrieved on June 14, 2020 from
http://pinoystory.com/filipino-taxi-driver-eugenio-ventura/
Racelis, A. (2017). Business ethics and social responsibility. 1st Ed. Rex Bookstore Vocabulary.com. Fairness. Retrieved on June 14, from
https://www.vocabulary.com/dictionary/fairness#:~:text=Fairness%20co mes%20from%20the%20Old,used%20to%20describe
%20physical%20beau ty.
Department of Education National Capital Region DIVISION OF CITY SCHOOLS – MANILA Manila Education Center Arroceros Forest Park
Antonio J. Villegas St. Ermita, Manila