I.

Introduction

The ABM-12 is among the five (5) entrepreneurship groups

that were tasked to create a business as part of their

performance task. The ABM-12 is segmented into four (4)

categories:

 Production

 Human Resources

 Finance

 Marketing

However, the focus of this Narrative Report will be only the

Finance. In this report, the ways how ethics were applied in

different business scenarios or situation will be enumerated

and discussed. Moreover, the effects of belief system to the

ABM-12 Entrepreneurs and to the business itself will be seen

in this Narrative Report respectively. Lastly, the report

determines if the business applied the four (4) theories:

 Virtue Theory

 Utilitarianism

 Deontology

 Justice Theory
 It will be also explained here the ways how these ethical

theories were practiced. All of these will be connected to

financial category.

II. Body

The entrepreneurs of Grade 12-St. Veronica first considered

the collection of capital that will be used to buy the

necessary utilities, materials, and supplies needed in the

entrepreneurs’ business. Reymar Villaflor Enriquez, the leader

of the business activity, set a 200 PHP standard contribution

fee and all of the members have agreed on the said amount of

money. The payment day or the day of the collection of

contribution fees was set on February 28, 2023. On the 28 th of

February, 2023, the collection has started lead by the leader

himself, Reymar Villaflor Enriquez. Out of 28 contributors,

only 71% of the whole ABM-12 population has given its

contribution fees. However, on the next day, March 1, 2023,

the other 29% of population has responded to the leader’s

request of paying the said fee because the account receivables

of the business will increase if they did not pay at the

specific given time period. Meaning, the collection of capital

has been completed by the 1st day of March, 2023.

On March 2, 2023, the business activity leader has presented

the total capital that will be used in the entire business

activity. This was done in order for the business to be

financially transparent. The leader did not spend the day

without informing all of his members regarding the amount of

capital, an example of a very good leader. This is not the

last time that the transparency is practiced in the business.

The reason is because whenever the people in-charged of buying

the needed supplies (e.g., cups, plastic gloves, hairnet

etc.), utilities (LPG, transportation gas etc.), and materials

(e.g., nestle cream, condensed milk, crashed grahams,

marshmallow etc.) buy them, they are consistently informing

the leader and the other members of the business regarding the

expenses. This kind of transparency indeed helped the business

to be more organized as the individuals involved in the

business were fully aware of business’ source of fundings and

how the money is circulated and processed.

The act of fairness was also highly practiced in the entire

span of business activity. The first instance that shows

fairness is all members including the leader have distributed

work and role based on their skills or specializations which

both pertain to equality and optimization. For example, those

individuals who are good in cooking went to Production

Category since their skills are appropriate in the said

category. Moreover, students who have expertise in accounting

or other aspect of finance probably went to Financial Category

as their specializations properly suit it. Additionally,

members who have good leadership and management skills went to

Human Resources category since the job of this category is to

supervise the members’ state of activeness in the business or

basically if they are properly fulfilling their designated

roles. Lastly, any individuals involved in the business who

have good persuasion and creativity skills went to Marketing

Category as the role of this category is to convince the

target customers to buy the products that the business is

going to offer. Another act of fairness of the firm talks

about proper distribution of profit. Led by the leader and

controller (auditor) themselves, the business’ overall profit

in the entire business activity was distributed fairly and

evenly as all the ABM-12 Entrepreneurs have received the same

amount of money which is a total of 665.00 PHP per student. In

line with this, all individuals involved in the firm have

contributed the same contribution fees. Meaning, no

Entrepreneur had paid below or higher than 200 PHP.

The business’ act of fairness did not end on equality

because the firm had been reciprocal. In exchange of members’

cooperation in responding to the contribution fees,

individuals who manage and hold the capital of the firm used

the money without corruption. In other words, the financial

holders received money from the member and in return, the

holders gave clean money transactions. Furthermore, the ABM-12

Entrepreneurs are considered to be accountable due to the

reason that they are able to talk professionally to each

other. One of the instances is when the leader himself

professionally answered the questions of other members

regarding distribution of profit. The leader comprehensively

explained how the money had been processed such as stating the

expenses on utilities, supplies, materials, and other

financial factors. Aside from that, Entrepreneurs were not

afraid to point out the misbehavior of other members when it

comes to capital spending which contribute to the

appropriateness of financial record.

When it comes to stewardship, the firm practiced this kind

of ethics by means of computing and recording the financial

statement with the technology as its primary medium, reducing

the use of paper consumption which implies that the usage of

trees was also lessen since most of papers were made of trees.

This result to healthier environment which is the goal or

vision of practicing stewardship. During the span of business

activity, the ABM-12 Entrepreneurs experienced a variety of

challenges or issues. One of them occurred during the process

of making the financial statement. Some records like receipts

that are significant to compute the financial statement went

missing. Some Entrepreneurs have decided to neglect the proper

records and just use fake records. At that time, those

individuals have “bahala na” mindset as they suggest to use

whatever kind of records without thinking the possible

consequences of it and given how unethical it is. However,

some ABM-12 Entrepreneurs stood up that the idea that they are

proposing is very wrong and could serve as a negative factor

us especially if the teachers caught them cheating on

financial record, and cheating means the students will tend to

fail their grades. This practice of choosing the right over

wrong saved the business’ reputation as it prevented the firm

to have a bad reputation.

Another challenge that the firm had faced is having a Manana

Habit. During the making of financial statement, the persons

in-charged of doing the financial statement requested to

submit all of the needed financial records to him but those

individuals who have them were always saying “mamaya na”. This

attitude of individuals slowed the process of finishing the

financial statement. However, the leader gave an ultimatum

that all records should be given on a specific day and if they

failed to comply, their grades in cooperation will be

compromised. The third issue that was experienced by ABM-12

Entrepreneurs is Amor Propio which means “self-love” or

pertains to “having too much pride”. Before and during the

business activity, some individuals involved in the firm were

not fond of accepting criticism and idea recommendations. This

factor negatively affected the creativeness and

appropriateness of the business and therefore the success rate

of it. However, some individuals enlightened those people who

do not consider the perceptions and ideas of other. This

specific action helped the business generate more creativeness

that positively affects the business’ profitability.

Belief System also played an important role in the

properness of the ABM-12 Entrepreneurs’ business. For example,

those individuals in the firm who follow the Doctrine of

Christianity which is the Stewardship Doctrine tend to be more

steward. Meaning, they have more care to the environment just

like the previous example of using technology instead of tons

papers to record and solve the financial statement. Moreover,

Christianism helped the Christian leader to hone his

leadership skills which is another focus of the said religion.

His good leadership helped the firm to have an appropriate

financial statement. Additionally, Christianism served as a

significant factor to individuals’ hard-working

characteristics since the Christian Church or Doctrine teaches

that people no matter how hard the situation is, must be hard

working at all cost. In other words, belief system

specifically Christianism contributed to the success of

business. Overall, all four (4) kinds of theories (Virtue

Theory, Utilitarianism, Deontology, and Justice Theory)have

been all practiced to the business of ABM-12 Entrepreneurs.

All the examples of ethics that have been stated in this

Narrative Report pertain to Justice Theory as this theory is

defined as the character, moral, and values of an individual.

On the other hand, the instance that Utilitarianism was

practiced in the firm is when the person-charged of holding

and managing the capital, the controller, had decided to use

the fundings ethically or without the presence of any

corruption. This kind of action benefitted the controller

herself, the society, and the organization which were the

basis of the theory of Utilitarianism. Furthermore, all the

practice of ABM-12 Entrepreneurs that are referring to duty,

command, and obligation like how the members have responded to

their duty to pay the contribution fees. Lastly, Human Justice

has existed in the business through also the application of

ethics particularly about the state of being fair like asking

for equal amount of payment to all the members and leader of

the firm. Generally, all the factors that have been stated

helped the ABM-12 to be the group that has the highest profit

or returns.

III. Conclusion
 In conclusion, it is proven that the application of

different kinds of ethics in the business of ABM-12

Entrepreneurs significantly increased the success rate of the

business. The number one reason is ethics shaped the

appropriateness of a business individual as ethics help people

to improve their relationship to other people and the

environment that surrounds them. In this report, it is

concluded that even the religion or belief of an ABM

Entrepreneur still significantly helps them to behave

accordingly. Lastly, it is learned that Justice Theory, Virtue

Theory, Utilitarianism, and Deontology were heavily practiced

by the people involved in the business of ABM-12. Overall,

this Narrative Report implies that the ABM-12 Entrepreneurs

will not succeed in their business activity without the

presence of the following:

 Ethics

 Belief System

 Ethical Theories

Therefore, they will not also be able earn the highest

profit among the other competitor strands.