Republic of the Philippines

Department of Education
National Capital Region
DIVISION OF CITY SCHOOLS – MANILA
Manila Education Center Arroceros Forest Park
Antonio J. Villegas St. Ermita, Manila

Business Ethics and

Social Responsibility
The Core Principles of
Good Corporate Governance
Trasparency

Stewardship Business Fairness

Accountability

Quarter 1 Week 2 Module 2

Learning Competency:
The learners will illustrate how fairness, accountability,
transparency, and stewardship is observed in
business and nonprofit organization.

ABM_ESR12-IIIa-d-1.4;
ABM_ESR12-IIIa-d-1.5 Week 2
 Learning Module for Business Ethics and Social Responsibility

HOW TO USE THIS MODULE?

Before starting the module, I want you to set aside other task/s that may
disturb you while enjoying the lessons. Read the simple instructions below to
successfully enjoy the objectives of this kit. Have fun!

1. Follow carefully all the contents and instructions indicated in

every page of this module.
2. Write on your notebook the concepts about the lessons. Writing
enhances learning, that is important to develop and keep in mind.
3. Perform all the provided activities in the module.
4. Let your facilitator/guardian assess your answers using the
answer key card.
5. Analyze conceptually the posttest and apply what you have
learned.
6. Enjoy studying!

PARTS OF THE MODULE

 Expectations - These are what you will be able to know after

completing the lessons in the module.
 Pre-test - This will measure your prior knowledge and the concepts to
be mastered throughout the lesson.
 Looking Back to your Lesson - This section will measure what
learnings and skills did you understand from the previous lesson.
 Brief Introduction- This section will give you an overview of the
lesson.
 Activities - This is a set of activities you will perform with a partner.
 Remember - This section summarizes the concepts and applications
of the lessons.
 Check your Understanding - It will verify how you learned from the
lesson.
 Post-test - This will measure how much you have learned from the
entire module

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 Learning Module for Business Ethics and Social Responsibility

LESSON
2
Fairness, Transparency, Accountability and Stewardship

EXPECTATIONS
You will represent real life scenario to illustrate the following:

 Analyze the given situation wherein you practice the following

characteristics:
o Transparency
o Fairness
o Accountability
o Stewardship

 Understand the importance of possessing these traits in the success of

both business and non-profit organization

Let us start your journey in

learning the different behavior or
character traits seen in a workplace
PRETEST

I. Answer the following. Write the letter on the space provided.

_______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.

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 Learning Module for Business Ethics and Social Responsibility

_______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

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 Learning Module for Business Ethics and Social Responsibility
_______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

Great, you finished answering the

questions. You may request your
facilitator to check your work.
LOOKING BACK TO YOUR LESSON Congratulations and keep on learning!

Business Organization refers to how a business is structured.

Sole Proprietorship is a business owned by one person.
Examples: Sari-sari store, carinderia, flower shops, General Merchandising

Partnership is an association of two or more people as partners share the profit

and liabilities of a business venture.

Examples: restaurant, cafes, laundry shops, bars, bookstores

Corporation is an entity created by law that is separate and distinct from its
owner and its continued existence is dependent upon the corporate statues of
the state in which it is incorporated.

Examples: San Miguel Corporation, Jollibee Corporation, Globe Telecom

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 Learning Module for Business Ethics and Social Responsibility
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 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 company. C. Partnership

_____3. a business organization which is hard to establish

and is subject to numerous government regulations.

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
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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 Learning Module for Business Ethics and Social Responsibility
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 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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 Learning Module for Business Ethics and Social Responsibility

ACTIVITIES

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.

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 Learning Module for Business Ethics and Social Responsibility
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.

REMEMBER

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.

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 Learning Module for Business Ethics and Social Responsibility

CHECK YOUR UNDERSTANDING

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.

POSTTEST

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

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 Learning Module for Business Ethics and Social Responsibility

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 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.”

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 Learning Module for Business Ethics and Social Responsibility
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

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 Learning Module for Business Ethics and 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?

ACCOUNTABILITY

FAIRNESS

STEWARDSHIP

TRANSPARENCY

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 Learning Module for Business Ethics and Social Responsibility

E-SITES

To further explore the concept learned today and if it possible to connect

the internet, you may visit the following links:
https: www// pinoystory.com/ scribd.com
https: www// investopedia.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-in-
business-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-the-
bible-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%2F978-3-642-
28036-8_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.

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 Learning Module for Business Ethics and Social Responsibility

Acknowledgements

Writers:
Mutya S. Capili, MBE
Estela Marie C. Reyes, MBA

Editor: Isabel A. Gumaru, DBA

Evaluator: Ellaine I. Dela Cruz, DBA

Validators and Reviewers:

Remylinda T. Soriano, EPS, Math
Angelita Z. Modesto, PSDS
George B. Borromeo, PSDS

Management Team:
Maria Magdalena M. Lim, Schools Division
Superintendent-Manila
Aida H. Rondilla, Chief Education Supervisor
Lucky S. Carpio, EPS
Lady Hannah C Gillo, Librarian II-LRMS

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 Learning Module for Business Ethics and Social Responsibility

ANSWER KEY

PRETEST: LOOKING BACK TO YOUR LESSON:

I. I. Matching Type

1.B 1. B
2.A 2. C
3.A 3. A
4.D
5.C

ACTIVITIES:
Activity 1: Activity 2:

1. TRUE 1. C
2. TRUE 2. C
3. FALSE 3. B
4. FALSE 4. B
5. TRUE 5. A

CHECK YOUR UNDERSTANDING

1. TRANSPARENCY
2. TRANSPARENCY
3. FAIRNESS
4. TRANSPARENCY
5. ACCOUNTABILITY

POSTTEST

I. Multiple Choice
1. C
2. B
3. A
4. A
5. C

II. Case Study (Answer varies)

Rubrics for Grading the Case Study:
5- If the paragraph consists of 5 or more sentences with correct and complete
Information.
4- If the paragraph consists of 3 to 4 sentences with correct information.
3- If the paragraph consists of 2 to 3 sentences with correct information.
2- If the paragraph consists of 2 sentences with correct information
1- if the paragraph consists of only one sentence with correct information.

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