ACTIVITY 1:NATURE AND FORMS OF BUSINESS ORGANIZATION

Instruction:Explain the relevance of ethics in each business organization.

Ethics is important in any kind of business because it sets guides and rules to make financial
statements more relevant and faithfully represented.Ethics also serves as the guidance of employee
to come up with a more professional and interactive way of communication with one another.And
in these 3 forms of business organization which are the sole proprietorship(regulated by one
owner),partnership(with 2 or more owners) and corporation(an entity regulated by the law),
ethics is adequate in so many ways just like in production,distribution,financing and even recording
economic transactions. To jot it down, ethics is relevant to a sole proprietorship in order for the
owner to regulate his business well.If he sets a standard in his store then the flow of money inside
and out of the business will be set accordingly. Ethics can also help him to understand his needs of
professionalism with his customers.For a sole proprietorship,ethics can lead the members or
owners to a more concrete strategy for their business because they know how to treat everyone in
a nice and professional way.Ethics can also avoid conflict of interest as well as negative impressions
to co-owner.And lastly,ethics is relevant to a corporation because their guides and rules can be the
best way to come up with the values,missions and visions of a company. In any business,ethics
become the standard to present all necessary information right and on track.

ACTIVITY:THE SOCIAL FUNCTIONS OF A BUSINESS

EXERCISES:
1. Yes,because a company or an entity that is socially responsible and sets the maximum
efficiency of their product is the safest one for me because they didn’t seek for the profit
itself but also the trust that they are building for their customers,as well as the demand that
they need to sustain in the society.One example of it are products with essential ingredients
because they care not just for their customers but also for the environment.Another are TGP
products and supplements.
2.A. For me yes,because an organization’s main goal or objective is to provide services and
products that will lead to a betterment of their consumers/customers but in this case,
building a casino will never be good for everyone. Not all times you will gonna win since it is
gambling,it is illegal in the Philippines I just couldn’t know why some casinos are not
prohibited in our country.
2.B. No,because in the Philippines,there are no rules that is telling that gambling and casinos
are illegal.But only 21 years old and above is allowed to enter casinos.
2.C. I think the public will not be against casinos because it help them in other way which
will also give them another source of income.While others that are losing lots of money,
they will say that casinos are biased with high profile people.But overall,no one will be
against casinos,because everyone wants to try it and even if they lose they will do
everything to get the money they’ve lose in gambling.
2.D. Yes, it is an opportunity because lots of Filipinos are aiming for a goal to achieve high
amount of money. Since it is also a high demand at this time, it will totally bloom a high
profit since businessmans and millionaires are mostly the players. But if ever, I will not
build a casino because I don’t think that it is good for everyone.