ESSAY:

Direction: Explain the following statements/question in not less than 5 sentences.

1. Why is there a need to improve business ethics?
2. What is nature of the �Integrity Initiative Movement� led by the Makati
Business Club and the European Chamber of Commerce of the
Philippines?
3. Why should business organizations adopt a Code of Conduct?
4. What are the purposes of the �Unified Code of Conduct for Business� as
prepared by the Integrity Initiative Movement?

CAE01: ACTIVITY 6
ANSWER:

1. Improving business ethics is critical since business ethics is a necessary skill

for any company. Businesses typically face some of the world's most significant
problems, such as complex dilemmas like climate change, safety, and security, which
necessitate critical thinking and ethical reasoning. I believe that having a good
business ethic will set standards for morally right and wrong conduct in business,
allowing all of this to be easily avoided. Another reason for the importance of
business ethics is that it might increase profitability. Furthermore, by developing
formal programs, businesses are creating ethical workplaces by hiring the proper
people.

2. The �Integrity Initiative Movement� is a multi-sectoral initiative that aimed to

raise ethical standards in all businesses. Its purpose is to institutionalize
integrity principles in all sectors of society. Business, government, the
judiciary, civil society, the church, and the media are just a few examples. This
particular movement led by the business sector, aims to assist the Philippines to
remove the country's of corruption.

3. A code of ethics is really important for every business because it clearly

spells out the norms for behavior and provide guidelines on how all of these should
be used as a reference for day-to-day operations inside the organization.
Businesses of all sizes rely on their management teams to provide an example of
ethical behavior for their employees to emulate. A code of conduct will serves as a
primary guide and reference for employees in making day-to-day decisions. A well-
written code clarifies an organization's vision, objectives, and beliefs,
connecting them to professional conduct requirements. The code

4. The �Unified Code of Conduct for Business� harmonizes current ethical norms
among Philippine businesses. It ensures that diverse market participants play by
the same rules in order to generate fair market conditions and encourage
transparency in business. The Code formally expresses the signatories' commitment
to sustaining high ethical standards in all commercial activities. It expresses the
idea that pursuing profit at the price of integrity is an unethical and
unsustainable business practice, and that steps have been taken to enforce and
foster integrity habits inside the signatories' individual firms.