Chapter 10 - Initiatives to Improve Business Ethics and Reduce Code periodically assess and monitor our compliance to must
liance to must be assessed. The assessment process is critical to make the
Corruption
 Why is there need a conduct?
An organization's code of conduct recognizes the important
role that business ethics play in the success of today's
business, encouraging the board to actively develop an
organizational culture that established on transparency,
accountability and integrity.
THE UNIFIED CODE OF CONDUCT FOR BUSINESS (Integrity Initiative)
 Top Management - Our officers strongly communicate
our organization’s position against bribery, corruption,
and unethical business practices within the company
and the public.
 Human Resources - We strive to instill culture of
integrity among our employees. The management
maintains open lines of communication with
employees, particularly on matters relating to honesty,
transparency and integrity in business transactions.
 Sales and Marketing - We clearly communicate rules
and guidelines on giving gifts, entertainment, tokens of
hospitality, and contributions to/from public and
private organizations and their representatives.
 Finance and Accounting - We require all our employees
to ensure that all books and records they create or are
responsible for are complete and accurate.
 Procurement - A track record of integrity and
compliance with existing laws is a prerequisite when we
vet third party consultants, suppliers, intermediaries,
and agents. Our company has transparent procurement
procedures, provides equal opportunities for all
suppliers, and prohibits, collusion between and among
our employees and suppliers.
 Logistics - comply with laws and regulations pertaining
to supply chain management.
 Implementation and Monitoring - We will continually to
align our operations to the principles contained in this
it. We will continue to share best practices with the
business community to strengthen ethical business
processes in the Philippines.
The code of ethics for the Philippine Business issued by the
Bishops-Businessmen conference Philippines
Preamble - This Code of Ethics has been formulated impelled by
the belief that man has a dignity that must be respected, and
that all the resource of the earth has been created for his growth
and development.
As here presented, this Code is considered a major step in the
on-going and changing process of understanding the growing
role of business activity in the development of man and, as
much, is open to further improvement.
Some principles for the conduct of business Towards the
employees, customers, suppliers, owners and other provider of
capital, national and local government, society in general
Chapter 11 - Risk Management
Risk management is the process of measuring or assessing risk
and developing strategies to manage it. Risk management si
asystematic approach ni identifying, analyzing and controlling
areas or events with a potential for causing unwanted change.
Process of Risk Management
1. Establishing the Context. This will involve : Identification of
risk in a selected domain of interest
2. Identification of potential risks. Risk identification can start
with the analysis of the source of problem or with the analysis of
the problem itself.
3. Risk assessment. Once risks have been identified, their
potential severity of impact and the probability of occurrence
best educated decisions in prioritizing the implementation of the
risk management plan.
Steps in the Risk Management Process
– To enhance management’s competence in their oversight role
on risk management the following steps may be followed:
1. Set up a separate risk management committee chaired
by a board member.
2. Ensure that a formal comprehensive risk management
system is ni place.
3. Assess whether the formal system possesses the
necessary elements.
4. Evaluate the effectiveness of the various steps in the
assessment of the comprehensive risks faced by the
business firm.
5. Assess if management has developed and implemented
suitable risk management strategies and evaluate their
effectiveness.
6. Evaluate if management has designed and implemented
risk management capabilities.
7. Assess management’s efforts to monitor overall
company risk management performance
8. See to it that the best practices as well as mistakes are
shared by all.
9. Assess regularly the level of sophistication of the firm’s
risk management system.
10. Hire experts when needed.