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Work Values And Professional Ethics

Chapter 1

Chapter 2

Chapter 3

Created by: Beringuela, Dan Ivan D., Orbina, Christopher John D.

Chapter 4

Chapter 5

Chapter 1Ethics - part of philosophy, study of morality

Philosophy – comes form the greek word “Philos” means Love/Friend and “Sophia” means Wisdom.

Part of Philosophy

1. Metaphysics2. Psychology3. Cosmology4. Epistemology5. Logic6. ethics

Morality - is the quality of goodness and badness. Imperatives of Ethics

• Existence of God or Supreme Being• Existence of Human Freedom• Existence of After Life

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Business Ethics - Entity engaged in trading for profit

Businessman’s Myth

• Ethics is a personal affair and not a public debatable matter. (Ethics is not a personal affair but a public debatable matter.)

• Ethics and Business do not mix. (Ethics has a place in business.)

• Ethics in business is relative• Good Business means Good Ethics• Business is war

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Society

Government

Church

Business

School

Family

Ethical

Issues/ProblemReality Check

Moral Norms, Moral

Standards, Company

Policy, Ethical Principle

Moral Judgment

Situation Analysis

Problem Analysis

Decision Analysis

Resolution

Characteristics of Good Moral Standard 1. A good moral standard is one that looks at the issues or

something that is serious.2. A good moral standard must be grounded on good moral

argument. A Good Moral Argument - an argument that always tells the truth.A Solid Moral Argument - leads no room for loop holes and counter arguments.


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Characteristics of a Good Moral Judgment• A good moral judgment must be logical.• A good moral judgment must be based on facts and solid evidence.• A good moral judgment must be based on sound and defensible moral principles.

Law - ordinance of reason promulgated by one charge of community for common good

Types of Law • Ordinance of reason• Promulgated • One charge of community • For common good

Politics - power of people

Kinds of Law • Eternal Law - wear by God directs to all creatures until the end of the universe.• Natural Law - 10 commandments• Positive Law - Ordinance

What is the purpose of human life?

“To Serve and Fulfill”

Chapter 2Philosophy

Theoretical – studies the truth to be known.

• Cosmology - study of universe “kosmos”• Ontology - study of being “onta”• Metaphysics - study of Nature “meta” means Beyond “physikon” for Nature• Theology - study of God “Theos”; “dike” means Justice• Epistemology - study of knowledge “episteme”• Psychology- study of Human behavior “psyche” means soul

Practical – studies to be acted upon.

• Semantics – “sema” means sign or mark; “semantikos” for Significance.• Axios – “axios” means worthy• Aesthetics – beauty and art• Logic – thinking and reasoning using empirical support• Ethics – morality

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Chapter 2

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Three Phases of General Ethics

1. Descriptive Ethics - consists of studying and describing the morality, people, culture and society.

• Psychological Egoism – study of human motivation• Cultural Relativism – interaction with culture

2. Normative Ethics – involves moral judgment based on ethical norm or theory 3. Meta Ethics - is a branch of normative ethics, concerned with analysis or meaning of words and the logic; moral reasoning.

The Problem of Ethical Relativism and Situation Ethics Approaches to Moral Differences

• There is no moral truth• There is no universal truth• Deep down, we can find basic moral truth• There is one universal moral truth

Elements of Action

• Motives or intention• Means or action itself• Consequences or result

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Chapter 2Deontological Ethics- is a body of ethical theories that measures and evaluates the nature of moral act based on the validity of motive of an act. Theological Ethics – measures the morality of action based on its consequence and not on the motives or the intention of the action.

St. Thomas Aquinas -Italian philosopher, sometimes called “ The Prince of Scholastics”

Aquinas Theory on Moral Sense:• Man is able to distinguish what is good and bad.• Man is obligated to do good and avoid evil.• Man known that he is accountable for his action.


Lawrence Kohlberg’s Theory

Level Stage Social Orientation

Pre-Conventional 1 Obedience or Punishment

2 Individualism or Exchange, Instrumentalism

Conventional 3 Good boy or girl

4 Law and Order

Post-Conventional 5 Social Contract or Rights

6 Principle Conscience or Universal

Ethics 7 Transcendental Morality


Sigismund Schlomo Freud – founding Father of Psychoanalysis Theory:• Man must learn to control inborn desires• Man must achieve fulfillment in ways that are harmonious with others.

Super ego – is the spirited or will part in Plato’s theoryEgo – is the rational self or conscious self.Id – is the irrational part on us or the unconscious instincts.

Two Ethical Systems: Atheistic Ethics – assumes that only matter exists and man is responsible only to himself since there is no God who creates and rule the universe.

Principles:• Matter is only the reality• Man is matter and does not have spiritual dimension• Man is free and must exercise his freedom to promote the welfare on the society• There is no life after death• Man is only accountable to the state

Theistic Ethics - assumes that God is the supreme Law Giver. Everything must conform to God’s eternal plan of creation.

Principles:• God is the supreme creator and law giver.• Man is free and must exercise his freedom to promote his personal and social

interest along with his fellowmen.• Man has immortal soul which cannot die• Man is accountable for his actions both good and evil.

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The Relationship of Ethics with other Sciences and other Phases of Human Life Ethics and Logic•Ethics is the study of correct action or doing, while Logic is aimed for the right thinking.•Ethics demands on people’s feeling on subjective human world and relationship of people•Logic demands of material non-human world; content of speech Ethics and Psychology•Psychology studies “how man behave” while Ethics studies “how man ought to behave” •Ethics is concerned on moral obligations but Psychology is not interested in morality•Ethics studies human behavior from the perspective of morality however Psychology studies the particular kind of behavior Ethics and Sociology•Ethics is the study of moral order while Sociology is the study of social order•Ethics deal on moral laws and principles and Sociology takes the human relation in society

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Ethics and Economics• Ethics is the study of moral norms and its relation and Economics is the study of

wealth, labor and production. Therefore, there are three ways which Ethics enters the Economy:

a. Economists have ethical values that help shape the way they do economics.b. Economic actors have ethical values that help shape the behaviors.c. Economic institutions and policies impact people differentially and this valuation, in addition to economic evaluations are important.

Ethics and law• Ethics deals on the morality and Law defines as crystallized ethics. So, Law and Morality presuppose the concepts of right and wrong, good and bad, even the rules of the conduct.

Ethics and Religion• Ethics is a discipline or set of moral principles and values and Religion generally refers to the service and worship of God. Then, Ethics and Religion presuppose the concept of immortality, that there is life after death.


Ethics and the Professional Codes of Conducts

1. It sums up the need for specialized skills and knowledge and Professions, Professional, Professionalism were defined

a. Profession – means a public declaration with a force of promise b. Professional – characteristics of professionc. Professionalism – is the conduct, aims or qualities that marks a profession of

a professional2. Sanctions for Violations

a. Payment of a fineb. Payment of the cost of any investigationc. Reprimandd. Imposition of conditions on membershipe. Suspension from membershipf. Expulsion from membership


Ethics and Etiquette• Etiquette comes from the French word ”ticket” which is a special code for behavior and courtesy. Ethics and Education• Education is defined as an instructions or training by which people can learn and develop and use their mental, moral, and physical powers. • Education should aim to perfect the moral character in men Ethics and Art• Art is concerned with the use of imagination to make things of aesthetic significance. Ethics is aimed at conforming in an accepted standard of good behavior. Ethics stands for moral goodness; art, for beauty

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Kinds of Conscience 1. Guilty Conscience – disturbed conscience trying to restore good relations

with God by means of sorrow and repentance2. Lax Conscience – conscience that tends to follow the easy way and to

find excuses for mistakes3. Scrupulous Conscience – constantly afraid of committing evil.4. Doubtful Conscience – when it fails to pass a moral judgment in the

character of the act due to fear or error, or if the person is unsure about the correctness of his judgment.

• Natural Law (agere sequitur esse). It is the remote norm of morality. It reflects what the is in accordance with its nature. Man’s nature is good, if he acts accordingly, he is true what he is.

Eternal Law – this is considered as ultimate norm of morality. It is the plan of God in creating the universe and assigning to each creature a specific nature. Business Application •Ethical decisions in business must be based on sound and acceptable criteria or benchmarks.•Using benchmarks in decision-making process assures managers and business leaders a reasonable projected outcomes.


ETHICAL THEORIES COMMONLY USED IN BUSINESS AND ORGANIZATIONAL DECISION MAKING Immanuel Kant (1724-1804)• Born in Konigsberg, Germany on April 22, 1724• Studied at Collegium Fredericianum and University of Konigsberg, he

focus on physics and mathematics• Kant’s Moral Rationalism

Kant believed that reason is autonomous. For him, reason is “the be all and end all” of everything. For him Morality is:

a. A priori (not based and not derived from experience)b. It is universal. (It applies to everybody)c. It is absolute. (Moral Laws are completed and fixed)d. Moral laws are immutable. (Moral laws cannot be changed)

• Kant’s work on ethics is represented in two worksa. Foundation of Metaphysics in Morals “search for and establishment

of the supreme principles of morality”

b. Critique of Practical Reason – in which Kant attempted to unify his account

of practical reason with his work in the Critique of Pure

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•Kant was the primary proponent in history of what is called deontological ethics a. Kant’s Categorical Imperative – generally speaking, is unconditional obligation or an obligation that we regardless of our will or desires b. Hypothetical Imperative – contrast of categorical imperative •Categorical imperatives are Formulated in three ways: a. Formula of Universal of Law “act only in accordance with the maxim through which you can at the same time will that it becomes a universal law” b. Formula of Humanity “act that you use humanity whether in your own person or in the person of any other, always at the same time as an end, never merely as a means” c. Formula of Autonomy is a synthesis of previous two.; it says that we should so act that we may think of ourselves as legislating universal laws through our maxims.

•Business Applications: a. Kant introduces the importance of humanistic dimension into business decisions. b. Kant stresses the importance of motivation and of acting on principles c. Kant’s Categorical Imperatives gives us firm rules to follow in moral decision- making, rules that do not depend on circumstances or results and that do not permit individual exception


Niccolo Machiavelli (1469-1527) - Niccolo was an Italian essayist, dramatist, historian, sketch writer, biographer, dialogist, writer of novels, and poet. - He was born on May 3, 1469 in Florence, Italy. - Ethical Philosophy a. He recorded his unsystematic thoughts in two books: “The Prince” and “The Discourses”

1. “The Discourses” wrote approvingly of the Roman Republic, expressing enthusiasm for the self-government and liberty

2. “The Prince” emphasis was on the absolute monarchy, and it was associated with this phrase “the end justifies the means”


Leader Means End

Absolute Monarch

Do anything illegal or immoral

Creation of an ideal State/

Government

•Critique on Machiavelli’s Principles 1. It gives an alternative to come up with a basis for running a government. 2. “Power tends to corrupt and absolute power corrupts absolutely” 3. “the end justifies the means”. We should never employ bad means in order to attain a good end. 4. “Bonum ex integra causa, malum ex quocumque defectu” This means that for an act to be morally good the Specific Determinants of Morality, which are: motives, means and the action must be good•Business Apllications 1. On Management – style where all employees are required to work very hard no matter what it takes just to achieve the bottomline of the principle. 2. On the Individual – the demands of the job to make both ends meet or to provide comfortable life for the family 3. On Leadership – an autocratic leadership style is necessary especially in running an organization

UTILITARIANISM Derived from the Latin word utile bonum or utilis which means usefulness, “Do whatever produces the greatest good for the greatest number”


Jeremy Bentham (1748-1842)

- A child prodigy born in London- He received a Master of Arts degree in Oxford, he decided to go into literary than in practicing of law.- He published the book “Fragment on Government in 1775”- He wanted to create laws not just for the convenience of the elite but also for the best interest of the whole community.-Ethical Philosophy *The term utility has two meanings

a. By utility, it means that property in any object which tends to produce benefit, advantage, pleasure, good, or happiness

b. Utilitarian ethics puts emphasis and significance on the consequences as a result of an act and completely disregard the motives of an act.


John Stuart Mill (1806-1873) - was born in London - A well known philosopher who admired Jeremy Bentham - Mill’s Ethical Principles• He believes that human beings pursue happiness naturally and will

avoid pain or suffering.

• To the utilitarians, happiness is not merely the happiness of the person but happiness of the greater number of people

• Utilitarian ethics provides the general criteria for what makes up happiness but not the specific forms of happiness.

• Happiness is defined positively and negatively; Positive definition “happiness is anything that is pleasurable to the greater number of people. Negative definition “happiness is the absence of pain”

• Critique on Utilitarianism 1.Utilitarianism proposes an earthly goal for man which is the

temporal welfare here on earth. The ultimate and supreme purpose of man cannot be found in this life.

2.Utilitarianism makes morality relative. What is pleasant or useful to individual, may be paints and harmful to another individual. Relative morality leads to moral chaos and confusion.

3. Utilitarian theory makes morality extrinsic.4. Utilitarianism has bias on majority.


Business Application - The principle is used in Cost-Benefit Analysis - It is also used in the formulation of budgets - It is also used in the resolution of Labor-Management Conflicts

Thomas Hobbes (1588-1679) - He was born in Malmsbury, Wiltshire, London in 1588 and studied at Oxford University in England - He wrote the famous work “leviathan” in 1651 - Ethical Philosophy 1. He believes that human beings are basically selfish creatures who would do

anything to improve their position. 2. He considered that the basis of all moral laws, is laws of the state; where GOOD is accordance with the laws of the state, and EVIL, if it is forbidden by the state. 3. Governments are created to protect people from their own selfishness and evil.

Critique on Moral Positivism - His view on normative morality is solely dependent on the laws established by the state, which gives further sole responsibility in identifying what is right or wrong to the one who created the laws. Moral positivism sets aside the natural order of things. Next SlidePrevious Slide

Significance - Moral positivism anticipates the chaotic outcome if laws are not abided.Business Application - Businesses must follow laws and government regulations - Business enterprises must create company policies to maintain discipline and order within the organization - Business organizations must promote the common good and interest of the majority - Businessman and managers must be law-abiding citizens

Divine Command Ethics -is another type of theory that is often used in ethical debates, so it merits inclusion in this survey of standard ethical theories. Analysis of Divine Mandate Theory - Divine Command theories assume belief in their divine beings or exemplary individuals. - Divine Command theories cannot cover all possible cases of moral decision - Divine Command theories generally have a “no exception” clause, either explicit or implicit. - Command theory has what may be called the “Euthyphro Problem” from the Platonic dialogue which it originated.


Business Applications: - A good action is an action that conforms to the commandments of God as reflected in the bible and the teachings of the church. - A good action conforms to the teachings of exemplary non-divine beings like Buddha or Prophet Muhammad Ethical Egoism -is the theory which says that the promotion of one’s own good is in accordance with the morality.

Ayn Rand (1905-1982) - A novelist and philosopher was born Alyssa Rosenbaum on February 02, 1905 in St. Petersburg, Russia - Ethical Philosophy 1. “My morality, the morality of reason, is contained a single axiom: existence exists and in a single choice: to live….”- Atlas Shrugged 2. Her objectivism “You cannot say I love you, if you cannot say the ‘I’.” The attainment of the happiness requires a morality of rational selfishness. 3. Altruism a tool of evil and manifestation of a false morality


Critique on Objectivism a. Objectivism includes positions which are at odds with the ideas held by most people b. Objectivism is a guide to win life and not a philosophy for winning games c. It attempts to provide an explanation of humanity, without adequate reference to

the reality of being a member of the species of the humanity d. It attempts on trying to place philosophy above science to place man above reality


Egotist Egoist

A person who has very high opinion of himself whose language often consists of self praise

A person who thinks in terms of his own advantage generally by disregarding the interest of others

Someone who is self-centered or selfish, often without realizing it

An arrogant or conceited person, always talking about himself

A person who is childishly concerned only with his myopic, immediate self-interest; he is solipsist; a here-and-now type of fellow

Concerned with both his long-term and shoet-term interests

Difference between

Business Application - In business decision-making, sometimes self-interest is considered and given

priority over and above the interest of others. - Decision-making process in business must be rational - Self-esteem and confidence are important personality factors for business leaders and managersVirtue Ethics

--it focuses on the character of the person and the virtues he manifestThe main proponents of virtue ethics are Socrates, Plato, and Aristotle


Egotism Egoism

The practice of too frequently using the word I; hence q or writing overmuch of one’s self; self-exaltation; self-praise; the act or practice of magnifying one’s self or parading one’s own doing

The prescriptive doctrine that all persons ought to act from their own self-interest

An exaggerated sense of self-importance: CONCEIT

Excessive concern for oneself with or without exaggerated feelings of self-importance

Difference between

DEONTOLOGICAL ETHICS

(motive/principle)

VIRTU ETHICS (heart/charact

er)

TELEOLOGICAL ETHICS (result/

consequences)

Socrates (470-399 B.C.E) - Was born in Athens Greece in the year 469 B.C.E. he is known to have an ugly appearance - He search ideas about the soul, then he was imprisoned by not worshiping the god of states

Ethical Philosophy - Virtue is identical with knowledge - Vice(moral evil) is identical with ignorance - No one commits an evil act knowingly. Doing wrong arises out of ignorance

Critique on Socrates’ Philosophy - “no one commits an evil act knowingly and doing wrong arises out of ignorance”, person may have a knowledge but deliberately commits an evil act to satisfy the motive

Business Applications- In the business world, employers make “critical decisions” that have impacts on the operation of the company. The result might lead to uncertainty like when a private company is to give in salaries to its employees


Plato (428-348 B.C.E) - Was born in Athens Greece in the year 428 B.C.E. and his name means “broad” and “wide” due to his physical attributes like forehead and shoulders - He founded a school “Academus” known as the Academy

Ethical Philosophy --Knowing the Form – these are external or universal principles and perfect ideas. Plato maintained that all things in the physical world are symbols of these perfect Forms, but since these forms are symbols, the world is not the true reality

--Morality means waking the reason to its true purpose. In the virtuous soul, reason must control the appetite

Critique on Plato’s PhilosophyThe principle of Idealism focuses on the idea that there are evil in

the world because the soul imprisoned in the body of the person, it is geared towards perfection of the soul


Aristotle (348-322 B.C.E) - born in Stagira in Thrace - He was send to Plato’s Academy, due to his prolific intelligence. He earned the reputation as the “mind of the university” - Then he founded the school of “Lyceum”Ethical Philosophy He said that we must take the “middle way” or the mean between two extremes. Aristotle also rejected all form of imbalance The Golden Mean Principle simply states “to be happy, live life of moderation”Critique on Aristotle’s Philosophy

His principle is the most appropriate and proper for application among three philosophies. His ideas give responsibility not only to himself but also to his surroundings.Business Applications a. The Principle of Moderation can also be used in determining and planning for profit in business b. Virtuous conduct is important not just in decision-making but also maintaining moral ascendency and integrity c. Success in business is not the only measure in terms in profit but also the company’s moral integrity and credibility


THE CONCEPTS OF GOOD AND EVIL IN EPICUREANIST ABD HEDONIST PHILOSOPHIESHEDONIST

--based on the Greek word hdonh – hedone or sense of pleasure, and contends that happiness is the goal of human life

--hedonists maintain the most moral virtues are to be learned and pursued. For them pleasure is natural and has very strong inclination that we do not have to command ourselves by “moral ought” EPICUREANIST

Epicurus (341-271 B.C.E) developed an interesting, rather moderate and philosophically acceptable moral theory based on hedonism. Then, it deals with one’s very own practical concerns, a way of living, not an abstract system of thought.

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advcWork Values And Professional Ethics

Created by: Beringuela, Dan Ivan D., Orbina, Christopher John D.

CHAPTER 5

Sexual HarassmentThe Problem of Just Wages Morality of AdvertisingOffice RomanceGift-Giving Determining Fair PricingProduct MisrepresentationTrade Secrets and Corporate DisclosureWhistle BlowingStrikeMoney LaunderingUnfair CompetitionInsider TradingConflict of InterestMulti-Level Marketing (MLM) and Pyramiding

Sexual Harassment

Is bullying or coercion of a sexual nature, or the unwelcome or inappropriate promise of rewards in exchange for sexual favors. In most modern legal contexts, sexual harassment is illegal.

Two Types of Sexual Harassment and legally recognized?• Quid pro quo sexual harassment• Hostile environment sexual harassment

What is Quid Pro Quo Sexual Harassment?

Quid pro quo sexual harassment occurs when an employee gets on the promotion track or even gets to keep his/her job is based on if the employee submitted to or rejected sexual advances or other types of inappropriate sexual comments. For example, if a supervisor were to tell an employee she would be more likely to be promoted if she dressed sexier, that would be considered quid pro quo sexual harassment.

What is Hostile Environment Sexual Harassment? This type of sexual harassment occurs when a co-worker or supervisor in the workplace makes sexual advances or comments to an employee that, while not affecting promotions or the future of the employee's job, makes the working environment of the employee offensive and hostile. In general, the comments tend to affect the employee's ability to do her job. Some instances of hostile environment sexual harassment can be: (continue…next slide)

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Continuation.. • Personal questions of a sexual nature• Vulgarities and other offensive language• Physical conduct that is sexual or degrading to any reasonable person• Any sexually explicit or offensive pictures or literature that is in plain site of other employees

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The Problem of Just Wages

- Work is said to be the purpose of obtaining economic gain for the laborer, and it is directed to the promotion of life.- Compensation is the essence of work- Just wages is defined that remuneration which is enough to support the wage-earner in reasonable and frugal comfort- THE TEACHINGS OF THE CATHOLIC CHURCH ON WAGES a. RERUM NOVARUM known as Capital Labor, the most impassioned treaties written on dignity of working b. QUADRAGESIMO ANNO “On the Reconstruction of the Social Order” the advocate on minimum wage c. MATER ET MAGISTRA “Mother and Teacher” d. LABOREM EXERCENS “On Human Work” it discussed the modern perspectives and problems of human work and duties of the members of the church towards it e. CENTESIMUS ANNUS “Society and State must ensure wage levels adequate…”- FACTORS TO CONSIDER NIN FORMULA OF FAIR WAGES a. EXTERNAL MARKET FACTORS these refer to the supply and demand for labor and so- called economic conditions and underemployment b. LAWS AND REGULATIONS workers should be paid in accordance with laws and regulations issued by the government c. COST OF LIVING relates to basic maintenance of needs

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d. PREVAILING INDUSTRY RATE paying workers the average of what other companies are paying for the same job is not universally valid because not all companies have minimum wages high enough to maintain a decent standard living e. ORGANIZATIONAL FACTOR assessment on what type of industry the organization operates f. JOB FACTORS the nature of job entails to the formulation of a just wage g. INDIVIDUAL PERFORMANCE individual performance or productivity ratings affect the determination of wage or salary increases- SOME ISSUES ON JUST WAGE A. The minimum wage mandated by the government is not a guarantee of a just and fair wage B. Organizations and business usually conclude that they are legally and morally right when they fulfill their mutual agreement with the employees C. Geographic differences hinder the formulation of perfectly common definition of fair wage. Some communities have their highest cost of living than others D. Wage indexation to cost of living, where wage is automatically adjusted with the increases of cost of living, is not usually met by majority of the employers.

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Morality of Advertising

Advertising – plays its very significant role in marketing, goods and services - Has far reaching effects n sociologically and economically and it is important to note that it does not only dominate our environment but it also becomes part of our culture -Is apart of selling process and its goal is to persuade consumers to buy products being advertised.Primary purpose of advertising is to sell goods

1. Some issues in Advertising2. Deceptive Advertising3. Weasel Word4. Exaggeration5. Psychological Appeals6. Ads Directed to Children

Standards of Good Advertising-Recognized both its economical and social responsibility to help reduce distribution costs and serve the public interest- Depends for its success on public confidence- Tells the truth- Seeks public acceptance on the basis of positive and constructive statements- Helps to dignify the individual and contribute to the building of a civilized society

Office Romance

Is defined as a relationship between two people who are employed by the same organization Benefits of Office RomanceIt offers benefits for the employees in particular and also for the company in general. It includes friendship, mutual support and other personal experiences Disadvantage of office romance

1. Damaged Professional Reputations2. Disturbed Co-workers3. Changes in Productivity4. Dating a Boss5. Extramarital Affairs

Ethical issues in office romanceInterventionsOffice romance has always been an issue for companies especially the question on when it is best for organizations to control office romance in the officeLegal/Ethical ConsiderationsThese are several legal and ethical issues to consider. If proximity and repeated disclosure are fund, should an organization separate the persons involved? It raises some legal issues such as discrimination

Gift-Giving

- is merely an act of extending goodwill to an individual in an effort to share something with particular others.

Businesses usually engage in gift-giving for the following reasons:.to show appreciation for a favor received;.to effectively establish goodwill with business partners;.to advertise.to compete effectively against competitors.

The following are the common forms of gift-giving:.samples.raffle coupons/certificates.rebates/cash refunds.padding expense accounts.premiums.prizes.patronage awards(rewards).tie-up promotion.allowance.free goods.tips

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Is Gift-giving Ethical or Unethical? business gifts of clients and business associates can raise conflict-of-interest problems, and knowing where to draw the line, between what is right and wrong, is not always easy.Factors in determining the morality of gift-giving1. Value of the gift - is the gift nominal in value , or is it subtantial enough to influence a business decision?2. Purpose of the gift - as long as the gift is not intended or received as a bribe and remains nominal, there does not appear to be any serious problem.3. Circumstances under which the gift was given or received - a gift given during the holiday season, for a store opening , or one attached to a special event or occasion,4. Position between or relationship of the giver and receiver - could the recipient's opinion, influence, or decision result in preferential treatment in favor of the donor.5. Acceptable business practice in the industry - could the act be considered acceptable in

this kind of business?6. Company policy - if firms explicitly forbid the practise of giving and receiving gifts to its customers, vendor or suppliers, associates, or corporate directors, then gift-giving would normally be wrong.7. Law and Regulatons - certain federal, state, or local government institutions may impose

law that forbids accepting gifts from firms with which they do business.BRIBERY - is defined as a practise of giving renumeration for performance of an act that is nconsistent with the work contract or the nature of the work one has been hired to perform.

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Determining Fair Pricing

- Why is a price product / service have to be established?•Man is entitled to enjoy the fruits of his labor as an effect sets a price he deems reasonable for his produce•Price depends on the law of supply and demand by fair competition

- Fixed price system is fair when:•A seller gives the lowest price for his goods•He is willing to accept no other forces within•Price is fair when it tends to reach the lowest point possible due to strict competition

bargaining – movable price system takes place in open marketFACTORS CONSTITUTE TO SET PRICE FAIRLY

A. Cost of materialsB. Operating and market expensesC. Reasonable profit margin

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ETHICAL ISSUES ON FAIR PRICING• True cost of product is concealed• Suggested Retail Price• Use of Electronic Scanners• Promotional Pricing• Follow the Leader Pricing• Price Gouging• Price Fixing

MARKET STRUCTURE-PERFECT COMPETITION –it presupposes the setting of a fair price depending on it’s structure-IMPERFECT COMPETITION –monopoly occurs when a group seller operates an agreement, capable of no substitute controlling both supply price of product/service

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Product Misrepresentation

Misrepresentation is observed when there is a transformation of information to misinformation. Two types:Intentional – the person is not fully aware or deliberately misrepresents things, its commonly known as “Lying”.Unintentional – the person is not aware and does not deliberately act on misrepresenting things. It is a situation where the person involved believes that it is the right and acceptable thing to do. It is also commonly called as “white Lie”.

Lying – can defined as the act of making others believe something that they, themselves, do not believe in. It happens when somebody tries to convince others with untrue statements. Types of Lying:Use of Ambiguous Terms – is the act of deliberately using vague terms or opne-ended statements that can have several meanings to mislead people that one is telling the truth.Use of False Statements – is the act of making a statement from which false conclusions may be drawn eventually mislead others.Through Action – is a type of lying where the person gets caught in act of wrongdoing.Suppression of Correct Information - is an Intentional or Unintentional act of hiding the correct information which eventually mislead others.

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Lying become sinful when: (According to Catholic moral theology) • It leads the neighbor to error.• It breaches a promise.• It violates the nature of speech.

Note: In general, lying is not a grievous sin. It is considered grievous only when it becomes gravely detrimental to neighbors and causes great dishonor to God. Lying can be morally justified when:• Used to protect innocent people• Used to protect national security / important secrets• Used in the name of self-defense• Used in protection of bodily integrity


Business Practices Involving Misrepresentation and Lying Types: Direct misrepresentation – characterized by actively misrepresenting something about the product or services. Examples of direct misrepresentation:•Deceptive Packaging - the objective is to create an impression wherein the buyers or the end users will see an improvement, either by size or by weight without any change in the price. •Adulteration - is the unethical practice of corrupting a genuine commodity by imitating or by adding something to increase its bulk or volume. It does not meet the industry standard.•Misbranding or Mislabeling – is the act of copying a product’s design to closest possible way, giving an impression that it is the same with the leading brand.•Short Weighing – is the most common type of direct misrepresentation. It can be easily spotted in wet or dry markets.•Short-Changing – is taken directly from a situation where the seller gives the customer less than the change he should get.•Short Measuring – is an unethical practice observed in products that depend on length and / or volume.•Short Numbering – the seller means giving the customer the quantity by piece of the product less than the number he has paid for.


•Mislead Advertising – the term”false” means any representation or symbol that is inconsistent with facts, and where the deviation would be unacceptable to a significant number of the general or relevant public , and would lead to misunderstanding or incorrect decisions. The term “misleading” means any representation or symbol that would cause a significant number of the general or relevant public to misunderstand or make incorrect decisions, regardless of whether sich representation or symbol is consistent with facts.

Indirect misrepresentation - characterized by omitting adverse information about the product or service. It is passive deception and not as Obvious compared to direct misrepresentation. Common Practices: Caveat Emptor(“let the buyer beware”) – a practice very common among salesmen. It is responsibility of the consumer to determine for himself the defects or negative features of the product. Deliberately withholding information in any business transaction is also an unethical practice. All parties involved in all business transactions must know exactly what they are giving away or receiving in return, in order to be fair.Business Ignorance - is a passive deception because the businessman is unable to provide the customer with the complete information he needs to make a fair decision. Ignorance of costs – The cost of manufacture, the cost to sell, and the attendant administrative costs is another form of business ignorance which is just as harmful and inexcusable as ignorance of the product one is selling.

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Trade Secrets and Corporate Disclosure

A trade secret is the legal term for confidential business information. That piece of information allows the company to compete effectively.

Examples of trade secrets include customer identities and preferences, vendors, product pricing, marketing strategies, company finances, manufacturing processes, and other competitively valuable information. This includes essentially any confidential business information such as customer list, financial information, employee data, production cost or sales data, production cost or sales data, and documents memorializing important negotiations. Corporations normally justify the keeping of trade secrets by the following arguments: 1. The information must not be “generally known or readily ascertainable” through proper means. Information known to non-competitors is still capable of being a trade secret. In fact, more than one competing company can claim trade secrets right in the same information independent of one another. Information generally know to one’s competitors is not a trade secret.

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2. The information must have “independent economic value due to its secrecy”. It is more concerned on the money that the company has spent in developing the information.3. The trade secret holder must use “reasonable measures under the circumstances to protect” the secrecy of the information. Failure to adequately protect the company’s proprietary information will allow competitors and ex-employees to reduce profits. The trade secret laws will help prevent such misfortune if the company acts in accordance with its requirements. Imagine if a top employee leaves company and that employee has learned every major area of the company. If he sets up a business in direct competition with his previous company or even becomes an employee of the toughest competitor, he can pose serious problems to his previous company. This individual can be stopped if proper measures and protection ate to be observed. Proper protection requires action today to be ready for tomorrow.

CORPORATE DISCLOSURE

The information that a corporation is a morally obliged to disclose coincides with much that is legally required, though pressures for increased disclosure are based, for the most part, on moral arguments. According to De George, the moral basis for the corporate disclosure rest primarily on the following arguments: (1) Each person has the right to the information be needs to enter into a transaction fairly, and (2) each person has the to those actions of others that will seriously and adversely affect him or her.

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Whistle Blowing A whistleblower (whistle-blower or whistle blower) is a person who tells the public or someone in authority about alleged dishonest or illegal activities (misconduct) occurring in a government department or private company or organization. The alleged misconduct may be classified in many ways; for example, a violation of a law, rule, regulation and/or a direct threat to public interest, such as fraud, health/safety violations, and corruption. Whistleblowers may make their allegations internally (for example, to other people within the accused organization) or externally (to regulators, law enforcement agencies, to the media or to groups concerned with the issues).

Strike

Strike action (or simply strike) describes collective action undertaken by groups of workers in the form of a refusal to perform work. This is a tactic often employed by labor unions during collective bargaining with the employer. In ordinary usage, the term “strike” is often used to describe all work stoppages, the precise origins the dispute are unclear, or are contested by the different sides involved. For this reason, the decision to describe a stoppage as a “strike” or as a “lockout” may be influenced by one’s perspective or political outlook.

Workers go on strike for different reasons:• For higher compensation• To improve the workplace• For shorter working days• To stop their wages from going down• For more benefits• Because they think their company has been unfair

Conditions of employment include wages, hours, sanitation, and safety, and several other circumstances that affect the work of the workers. The union aims at safeguarding and increasing present benefits.

In any specific instance, a union is justified in seeking advantage, whether the wages, hours, or the conditions, only when these are in accord with the law of right.

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Types of Strikes:Sit-down strike (or sit-in) is a strike in which workers shows up to work, but refuse to work.General strike is a strike affecting all areas of a labor force across many industries, typically throughout a country or a large section thereof.Sympathy strike is a strike initiated by workers in one industry and supported by workers in a separate but related industry.Unfair labor practice strike is an action taken by an employer that is believed to be inimical to the interest of an employee organization.Jurisdictional strike refers to a concerted refusal to work undertaken by a union to assert its members’ right to particular job assignments and to protest the assignment of disputed work to members of another union or to unorganized workers.Economic strike is based on a demand for better wages or benefits than the employer wants to provide.Wildcat strike is against the will of the leadership of the union, or without a union.Slow-down is a form of work stoppage in which employees deliberately reduce their individual production.Recognition strike is a kind of strike forcing employers to recognize and deal with them.


Is there a Right to Strike?The right to strike is integral process of wage bargaining in an industrial

economy. Everyone believes that a quality work rendered by an individual in an industry deserves improvements in salaries and benefits.

In the book of Ramon Agapay, “Ethics and the Filipino” (p.153), the following conditions must be present for a strike to be moral:

•There is a sufficient and just reason for it: it is usually based on the claim that the labourer has a right to his job, or that he has at least the right to decent conditions of employment, and consequently that he may use force to protect this right against the unjust aggression of the man who has seized it.•The intended good results must be proportionate to the evil effects; as against the employer, the strikers have no right to destroy his property; as against the men who take the places of the strikers, no violence is lawful when the action of the strikers is justified by their own needs.•The means of employee are lawful. At most, the right to a job is merely the right to continue economic relations with a particular employer. It is, consequently, similar to the right of a merchant to the patronage of his customers, or the right of any man to pursue a lawful good by lawful means.

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Money Laundering

Money Laundering•Money laundering is the process of distinguishing illegally obtained money so that the funds appear to come from legitimate source or activities.•It occurs in connection with a wide variety crimes, including illegal arms sales. Drug trafficking, robbery, fraud, racketing and terrorism •The principal objective of it is to convert cash to some other form of asset to conceal the illegal sources or origin of cash income. Money Laundering Process•Placement-physically placing bulk cash proceeds. The placement stage that physical currency enters the financial system and illegal proceeds are most vulnerable for detection.•Layering-separating the proceeds from criminal activity from their origins through layers of complex financial transaction.•Integration-providing an apparently legitimate explanation for the illicit proceed. It is the final step to show it legally to the economy .

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Money Laundering Process•Money Laundering schemes may vary greatly in character and complexity. They may involved any number of intermediaries and utilize both and traditional and non- traditional payment. •Common terms on Money Laundering Method: “Stash” house for processing and “smurfed” the employment of a large number of individuals to make small deposits or withdrawals. It is the usual and possible method. What Individual governments should be doing about Money Laundering•A great deal; Establish a comprehensive an anti-Money Laundering regimes•Giving investigative agency to trace and authorized to exchange information with counterparts and other countries.•Include relevant voices in developing anti-Money Laundering program.


What are the Forty Recommendations?•A comprehensive blue print for action against Money Laundering. It covers:•Criminal justice system•Law enforcement•Financial system and regulation •Int’l co-operation•Each FATF member has a political commitment to combat money and laundering•It is recognized as standard on anti-Money Laundering programmes. Conclusions•Money Laundering is the crime of the 90’s•Money Laundering is sleight of hand•Money Laundering a magic trick for wealth creation•Money Laundering is also the third world’s largest business. •Money Laundering is a criminal activity which is long term and continuing•Money Laundering is carried out often by more than one person. It is a large scale

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Unfair Competition

Competition is healthy and can be a motivation for firms to produce better products or offer better services.Different Kinds of Competition:•A monopoly is defined as a market situation where there is only one provider of a kind of product or service•Oligopoly, on the other hand, denotes a situation where there are few sellers for a product or service•Perfect Competition is a situation in which no firm or consumer is large enough to dictate pricesDifference between War and Competition

In a war two contenders fighting hurl directly at each other, whereas in a business competition, two or more parties are vying for the opportunity to provide customer’s needs whether it is a product or service.

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Difference between Fair and Unfair CompetitionFair competition is doing business under ethical rules of conduct, behavior and judgment. It consists of:•Deceptive trade practices such as misrepresentation and false advertising•Business interferences to prevent competitor from continuing with its business process or business contracts•Anti-competitive market practices such as under cost selling to kill the competitor•Deformation of a competitor and bad mouthing a competitor to a customer•Caveat emptor or indirect misrepresentation by withholding information from the layer•Violations of intellectual property right such as copyrights, patents, trademarks, and service marks

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Insider Trading

-Refers to the significant facts that have not yet made by Public and likely to affect stock prices- Moral ArgumentsSince insider treading involves the use of insider information, a lot of moral problems are related to employee’s used of such information while he is still a member of the firm. These are the particular problem:

a. Conflict of Interestb. Breach of Loyalty

Ethical Issues Related to Insider Trading

c. It violate fiduciary relationship between insiders and outside clientsd. It promotes greed and personal gain at the expenses of otherse. It renders the transaction between two contracting parties as unfair

Conflict of Interest

It means something more than individual bias. There must be an interest, ordinary financial that could be directly affected by the work of the committees Issues:In the business context occurs when the person acts in a way that is to his advantage at the expense f the employing of organization. At the time of hiring, when an employee agrees to the terms of a contract, there is also an implicit agreement that the employee will not sacrifice the interest of the organization for his self interest. Conflict of interest violates the principle of impartiality. The interest may be financial or not. Types of Typical Conflicts of Interest

1. Self dealing (using the one’s position to render benefits)2. Accepting benefits (bribery is one example)3. Influence peddling (professional solicits benefits for exchange)4. Using your employer’s property for private advantage (stealing office supplies)5. Outside employment or moonlighting (direct competition with employer)6. Post employment (resign from previous job then establishing a same job

Multi-Level Marketing (MLM) and Pyramiding

MULTI-LEVEL MARKETING•System of selling in which one signs up other people to assist him, and they, in turn, recruit others to help them.•System of selling through many levels of distributors.•Also known as “Direct Selling Companies”.

Each gets a percentage on the price of the product being sold. There many multi-level distributorship schemes that often calls themselves a “network”. They are thinly disguised pyramids which operate like a real “pyramid”. Participants can earn by recruiting not by selling the products. Companies of these types require people to pay a joining fee or what they call “investment” usually several thousand pesos.

PYRAMIDINGIn classic “pyramid” scheme, participants attempt to make money solely by recruiting new

participants. These schemes promise sky-high returns in a short period of time for doing nothing other than handing over your money and getting others to do the same.

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