Lesson 1.

2: Fairness,
Accountability and
transparency
FAIRNESS

Fairness is when everyone is treated equally and no

one is le out. People that are fair follow the rules in
sports, games, activities, and in their community.
They are honest and trustworthy. They follow Eleanor
Roosevelt's quote "It is not fair to ask of others what
you are unwilling to do yourself."
ACCOUNTABILITY
What Is Accountability?

The term accountability refers to the

acceptance of responsibility for
honest and ethical conduct towards
others. In the corporate world, a
company's accountability extends to
its shareholders, employees, and the
wider community in which it
operates. In a wider sense,
accountability implies a willingness
to be judged on performance .
Understanding Accountability

Accountability is an essential concept in corporate

finance. It is defined as an entity's actions to take
responsibility for their actions. This can range from
accounting for financial discrepancies, conduct
toward employees, financial mismanagement, or
losing shareholder confidence.
 TYPES OF ACCOUNTABILITY

MEDIA
ACCOUNTABILITY

POLITICAL
ACCOUNTABILITY

CORPORATE
ACCOUNTABILITY GOVERNMENT
ACCOUNTABILITY
TRANSPARENCY

Transparency means openness, a willingness by the

company to provide clear information to shareholders and
other stakeholders. Transparency ensures that
stakeholders can have confidence in the decisions making
and management processes of a company.
The organization must
provide accurate and timely
disclosures of its
performance and activities
to ensure investors have a
access to realistic
information about its
financial, social, and
environmental situation, its
crucial for organizations to
disclose the roles and
responsibilities of the board
and management to provide
shareholders with
accountability
Across all industries,
transparency has never been
more important to successful
business model. With holding or
shrewdly restructuring
information is no longer a
practical option for this new
generation of consumers.
Consumers today are more
knowledgeable than any
generation before them and for
whom doubt seems to be a
default setting in order to create
brand loyalty among customers,
companies needs to first build
trust
A good example of the
concept of transparency
is a restaurant setting
where cooks and
customers could literally
see each other during the
food preparationand
eating experience. In this
case customers will be
more satisfied because
they feel that they have
been made part of the
prpcess. This shows the
power of transparency
TRANSPARENCY

This approach can nurture

gossip and rumours, both
from staffs and customers.
Openness and honesty
concerning all aspects of
the business operation has
various advantages for a
company
RESPECT A transparent business demonstrates
respect for both employees and
customers. Respect is particularly
useful for non-profit organisations,
which are trusted to handle manage
donated funds
Positive Scandal o en triggers some
Public companies to become transparent.
They have to openly protect
Perception themselves or otherwise enlighten
the public of their actions and
behaviours. A transparent approach
to business proves the public tht the
company has nothing to hide.
 Staff members with no idea about the
business may asume, contribute in
Staff spreading gossip, or if nor be
Involvement unconvinced and fearful regarding the
condition of the company and the
security of their jobs. Open and honest
communication must be maintained with
the staff. Letting them par2on the
company's strategic plan andchanging
circumstances can facilitate building
staff loyalty
Customer
Customer service can get better through
Service transparent business operations.
Customer service is the assistance and
advice provided by a company to those
people who buy or use its product or
services.
Image
Management It its easy to manage the public
perception of a company by being open
and transparent. Established media
connections can help disseminate
information during a crisis
 FAIRNESS,
ACCOUNTABILITY AND
TRANSPARENCY FOR
SOCIO-ECONOMIC
DEVELOPMENT
☛ On a broader perspective a nation is larger and more difficult to
manage and to lead an organisation.

☛ One of the requirements for healthy competition is ensuring fairness

for everyone.

☛ corruption and cronyism in business must be removed to move

forward towards development.
 equal should be treated equally and unequals
unequally
-aristotle

favoritism connieism and nepotism all interfere with fairness

since day furnished and justified benefits to somebody who is
not worth of this treatment.

FAVORITISM
CRONYISM
NEPOTISM
 TRANSPARENCY AND ACCOUNTABILITY

are significant for

making certain that
resource wealth is
Resourceful and
administer for the
effective functioning
the society at large advantage of the
of a modern economy
being the delegator entire population
and for nurturing
must be provided with social well-being
Are Important pillars
some assurance that
for social economic
this transfer of power is
development of a
not only helpful but also
country
must not be abused
Transparency ensures accessible information, assessing
authority performance and preventing power abuse. It
fosters accountability, holding authorities responsible.
Without transparency, mistrust arises, leading to an
unstable society and an environment hindering
economic growth.
PRACTICES OF FAIRNESS,
ACCOUNTABILITY AND
TRANSPARENCY IN
PHILIPPINE BUSINESSES
Corporate governance is the
framework of rules and
practices by which a
company's board ensures
accountability, fairness and
transparency in its
relationship with
stakeholders such as
financiers, customers,
management, employees,
government and
community.
A Philippine Stock Exchange (PSE)
study showed that Filipino stock
investorn are particularly conscious
of disclosure practices, which form
part of firms corporate governance
structure. The study also revealed
that Filipino investors are most
concerned about fairness,
accountability and transparency
issues related to equitable
treatment of shareholders,
disclosure, and board
responsibilities.
According to Jonathan Juan
Moreno, head of the PSE's
Corporate Governance Office,
there is an empirical proof There are eleven
about the relationship Philippine
between corporate corporations that
governance and company made it to the top
value. This finding will help
PSE push the governance
50 list.
reform agenda more actively
by arguing on the legal and
moral case.
 AYALA GROUP

Ayala corp. Globe telecom inc.

Ayala land inc. Manila water co.

 MANUEL PANGALINAN GROUP

Philippine long distance Philex mining co

Manila electric co. telephone (pldt) co.
ABOITIZ
CLAN

Aboitiz equity
ventures
GEORGE TY

GT Capital
Holdings
SY FAMILY

SM PRIME HOLDINGS BDO UNIBANK INC.

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