THE ROLE OF

BUSINESS IN
SOCIAL AND
ECONOMIC
DEVELOPMENT
Chapter 1
 PRETEST
Write the letter that corresponds your answer on a piece of
paper.
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
Fairness,
Transparency,
Accountability,
and Stewardship
 Comes from the old English
word faeger, which means
Fairness “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
Fairness 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 is the
obligation of an individual
Accountabilit or organization to account
y 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 is defined as being
authentic in the way an organization
message themselves externally – to
TRANSPARENCY 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.
 In Biblical terms, stewardship
is defined as utilizing and
STEWARDSHI managing all resources God
P 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
STEWARDSHIP 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.