Core Principles in

Business Operations
Learning Objectives:

At the end of this module, the students are expected to:

1. explain the core principles of fairness, accountability, and
transparency in the socioeconomic development of a country
2. give examples of how fairness, accountability, and trasparency are
practiced in the business and non-profit organizations.
 FAIRNESS
Embracing the value of Fairness is about the process of
decision-making, not the outcome. Fair decisions are
made with available data; in an environment of honest,
open dialogue; and with intentional effort to remove
any biases that could cause perceived discrimination.
All of this leads to better decisions, happier employees,
and a stronger bottom line.
• Fairness in business refers to the value of
treating people with a standard of
performance that is consistent and equal
based on your commitments.
• It means giving customers a fair value for their money.
• It also means providing a non-discriminatory work environment
where employees have equal opportunities to good benefits and
working conditions.
• Treating community members and business partners with the same
level of fairness you expect from them is also important.
“Fairness in the workplace is about respecting the rights
of all those who work with us...
...Millions of people work in our operations and extended
supply chain, helping us create the products used by
billions more. For us, fairness in the workplace is about
respecting, and advancing, their human rights -
everywhere we operate, and in everything we do.
...By working in collaboration with others and through a
process of continuous improvement, we aim to achieve
fairness in the workplace for all the people with whom we
work.”
 ACCOUNTABILITY
• In organizations, accountability means that all employees are
responsible for their actions, behaviors, performance and decisions.
• Accountablity is crucial to ensuring high performance within an
organization. However, managers must clearly communicate their
expectations. Clear communication of expectations and well-defined
goals is very effective tool to enhancing performance at every level of
the organization.
All in all, fostering a culture of accountability on
your team will not only improve employee
morale and productivity, but it will also give
your team the autonomy and sense of
ownership they need to truly thrive. If you feel
accountability is lacking on your team, it’s time
to make some changes!
 TRANSPARENCY
Workplace transparency is a philosophy of sharing information freely in
an effort to benefit the organization and its people. That could mean
executives sharing company information with the whole team or
individual teammates sharing feedback with each other, and it can even
go beyond the walls to involve what your organization tells candidates,
customers, and the public.
Transparency isn’t about throwing caution to the wind or
blurting out whatever comes to mind, it’s about
understanding the benefit of honest, forthright
communication in your organization.
Knowledge is power, and the
lesson to take away is that
transparency, truth, and
openness spread the knowledge
that empowers people and
businesses to do better work
together.
 STEWARDSHIP
A great concept to describe our role and responsibility to the company
and to stakeholders. Stewardship means the careful and responsible
management of something entrusted to one’s care. In business, it
means the careful and responsible management of employees, product
safety, and our company’s overall success.
“Despite the competitive environment of having a business, it is
important to make a positive difference in the lives of people you come
in contact with. You can bring some of them joy and help alleviate the
pain and sufferings of others.”
“The truth is, when you put your people first, and you make caring for
them the top priority, you will see rewards. Whether or not public
acclaim and spiking sales result, you'll have happier employees, more
loyal employees, harder working employees, and employees who pull
together to help you break records in bullish years and fight the bear
in lean ones. And what you'll learn, as I have, is that the positive
effect on your bottom line is just a welcome side effect of the real
rewards of serving people before the almighty dollar. It's a genuine
connection, the knowledge of an investment that flows both ways,
and one that gives you a sense of purpose you won't find in any
earnings statement.”