BA 130: GOOD

GOVERNANCE AND
SOCIAL
RESPONSIBILITY

IVY CATHCALINE M. CALIG-ONAN

BSBA-3A
 Quiz 2
1. Explain the relevance of ethics in business.
Every one of us are advised to make ethical choices
and apply ethics at all times in our lives. But what does
ethics mean, and why is it very important in business?
We understand ethics as the principles that guide us
to make good choices for the goodness of all. Ethics is what
guides us to tell the truth, keep our promises, or help
someone in need. On a daily basis, ethics help us to make
decisions that create positive impacts and prevent us from
an inequitable outcomes. Ethics guide us to make the world
a better place through the choices we make.
Ethics in business is just as important as ethics in
personal life. Entrepreneurs or business leaders have a
unique role and a great responsibility in shaping the ethical
culture of their businesses, and thereby influence their
people as well. Corporations establish business ethics to
promote integrity among their employees and gain trust
from key stakeholders, such as investors and consumers.
This is the role of ethics in business, to enhance the law by
outlining acceptable behaviors beyond government control.
An ethical company runs on principles such as
honesty, integrity, fairness, trustworthiness, accountability,
and respect for others. Though it changed over time, they're
always important for every company. Without it, a company
will loose credibility. When a company is unethical, it
affects its reputation. Not only will the leaders and
company lose respect from employees, they will lose
credibility with the general public as well. This can result in
reduced sales, lost customers, and significant financial
harm.
Running a business with ethics at its core from the
top down is essential for company-wide integrity. If
everyone behaved in a consistently ethical manner, it can
lock in a solid reputation and long-term financial rewards
for companies. Thus, a company with a high standard of
ethics will likely to perform well and will have a loyal
employees, consumers, and stakeholders.

2. If you are the manager, how will you deal those

employees doing inappropriate actions which put the
company at risk, while you yourself is very careful in
observing ethical
decisions?
I'm a short-tempered person but I'll try to calm first
in such situation. Managers are responsible for upholding
the ethical code and helping others to do so as well. And as
a manager, it's my duty to respond quickly and
appropriately to minimize the impact of suspected ethical
violations.
 In this scenario, I'll deal this through conducting a
meeting with the employees to raise this issue. I'll make
them fully aware of the organization's ethical code and give
the opportunity to ask questions to clarify their
understanding.
When I know to myself that I already did my job
and they still violate the ethical code, I'll only give two
chances and warn them for their first violation. As a
consequence to their unethical actions, I'll give sanctions for
them to realize the mistake they've done and be responsible
to it. And if they still do it unreasonably for the second time
around, I will terminate the contract of service in the most
professional way. I understand that no one is perfect but I
do also believe that a mistake that keeps being repeated is
not a mistake, it's a choice.