Jannaviel A.

Mirandilla

BSA-2A

Business Ethics Initiatives

1. Why is there a need to improve business ethics?

- Business ethics improves the law by defining acceptable activities that are not governed by
the government. These are established to encourage employee integrity and obtain trust
from key stakeholders such as investors and consumers. It is also necessary to improve
business ethics because it can help business to determine what business practices are right
and just. Plus, this will guide them in making right business decisions.

2. What is a Code of Conduct? Why should corporations adopt a Code of Conduct?

- Code of Conduct is the most frequent policy within a company. This policy outlines the
company’s beliefs, standards, and moral and ethical expectations for employees and third
parties when interacting with the company. Corporations need to adopt a well-written Code
of Conduct in order to clarifies organization’s mission, values, and ideals to professional
conduct requirements. The code expresses the principles that the company seeks to instill in
its executives and employees, as well as the expected behavior.

3. What is the nature of the Unified Code of Conduct for Business?

- The Unified Code serves two purposes:

1. It harmonizes current ethical norms in the corporate community. It ensures that all
market participants follow the same set of rules in order to generate fair market
conditions and promote company transparency.
2. The code expresses the signatories’ commitment to sustaining high ethical standards in
all business dealings. It expresses the idea that profiting at the expense of integrity is an
unethical and unsustainable business model, and that steps have been taken to enforce
and foster integrity habits inside the signatories’ individual firms.

4. Enumerate the laws that advocates Business Ethics.

- Republic Act No. 6713 (Code of Conduct and Ethical Standards of PRA Officials and
Employees)

5. Why is there a need to formulate corporate values? Cite a corporate value of at least 3
corporations.
 - Almost every successful firm has a set of core principles that are shared and lived by
majority of employees. Companies with strong business values have greater financial
performance, customer and employee happiness, and develop faster, according to studies.
Formulating corporate values helps employees understand what you stand for, and gives
them guidance for their work and sense of security. Due to this, employees will be more
likely to make right decisions.

Corporate Values of:

1. BDO
- Be transparent, genuine and fair
- Operate with the highest degree of personal and professional integrity
- Value and support each other
2. SM
- Integrity
- Fairness
- Accountability
- Transparency
3. San Miguel Corp.
- We believe in profit with honor. For us, this simply means doing what we’ll say we’ll do and
acting with honesty, fairness and integrity.