Business Practice
Is a method, procedure, process, or rule employed or
followed by a company in the pursuit of its objectives.
A. Decorum
- a behavior in keeping with good taste and propriety.
- business etiquette
- on time and promptness
- on agenda
- on attire and appearance
- on decorum
- on basic courtesy and respect
- on greetings
- on handshakes
- on body language
- on formal and informal address
- on speaking in meetings
- on listening
- on cellphones and laptops
- on business or visiting cards
- on breaks
- on appropriate communication
- on bargaining
- on bringing in guests
- on building relationships
- on business meals and recreation
- on gift-giving
B. Protocol
- Unwritten rules or guidelines that are peculiar to every culture or
organization, and are supposed to be observed by all parties in the
conduct of business, entertaining, negotiating, politics, etc.
- the basis of protocol
- training in protocol
- benefits of protocol
–Examples of Protocols in Philippine Business
•Filipino Family- Modeled Business
•Business is personal
•Status-Consciousness
•Politeness and ambiguity
C. Policies
- Scope or spheres within which decisions can be taken by the
subordinates in an organization
- –Features of Business Policy
•Specific
•Clear
•Reliable/ Uniform
•Appropriate
•Simple
•Inclusive/ Comprehensive
•Flexible
•Stable
D. Advertising
- How company encourages people to buy their products, services, or
ideas.
 Newspaper, Magazine, Radio, Etc.
E. Marketing
- Process of product development as well as sales, promotion, and
distribution.
F. Bookkeeping
- Process of recording all financial transactions to keep track of cash
flow.
G. Reportorial Requirements
- Public reporting of operating and financial data by a business
enterprise
- Annual Report/Financial Statement
H. Documentation
- Processes and items which serve as evidence for the validity or truth of
a certain claim or statement.
I. Code of Ethics
- Sets out the company’s values, ethics, objective, and responsibilities.
Philosophical Ethics
Rufus, on keeping track of one’s ethical progress
- Musonius Rufus was known as the Socrates of Rome.
- You also need to keep track of your progress, to see how you are
performing. You cannot just rely on your intuitions, because they
are often wrong. So, the ancient Greeks learned to keep accounts
of themselves.
- In organizational terms, keeping track of ourselves means trying to
take an evidence-based assessment of our performance.
Plutarch, on being a good role model
- Plutarch, the ancient Greek historian and educator, understood
that humans are incredibly social creatures, who constantly
observe the people around them and imitate them.
- In organizational terms, that means what you say to your
employees is less important than what you do. They will watch how
you behave, how you treat others, how you cope with pressure and
whether you follow through on your promises. And they will imitate
you.
Aristotle, on letting people seek fulfillment
- Aristotle was a great biologist as well as a great philosopher. He
based his ethics on a psychological theory of human nature,
insisting that we are naturally virtuous, rational, social and
happiness-seeking.
- Appeal to your employees' best nature and they will answer that
call. Our employees will also be more motivated if you give them
the opportunity to feed their natural curiosity through learning
opportunities.
- Aristotle's philosophy was an influence on Edward Deci and
Richard Ryan's Self Determination Theory, which suggests that
employees will work harder for you, and perform better, if you give
them tasks, they find meaningful and morally worthwhile. (The
Guardian, 2020)
Socrates, on daring to disagree
- Socrates, one of the first philosophers, insisted on our right to think
for ourselves. Too often, he warned, humans sleepwalk through
life, simply going along with the crowd. (The Guardian, 2020)
- When corruption is uncovered, too often people say, "everyone
else was doing it". But our characters are our responsibility.
Socrates was prepared to die rather than go against his
conscience.
Epicurus, on the art of happiness
- Epicurus was a fourth century Greek philosopher who taught,
rather scandalously, that the aim of life was simply to be as happy
as possible here on Earth, before we die and dissolve back into the
atomic universe.
Wrapping up
• Rufus, on keeping track of one’s ethical progress: In organizational
terms, keeping
track of ourselves means trying to take an evidence-based assessment
of our performance. IPCRF for public school teachers, OPCRF for
offices and its heads in the Government, or Balanced Score Cards in the
private companies.
• Plutarch, on being a good role model: In organizational terms, that
means what you say to your employees is less important than what you
do. They will watch how you behave, how you treat others, how you
cope with pressure and whether you follow through on your
promises. And they will imitate you. If you talk about ethics and then cut
corners at the first opportunity, they will follow your lead.
• Aristotle, on letting people seek fulfillment: Governments and
organizations need to build the best systems to let humans fulfill their
natural drives. This suggests that employees will work harder for you,
and perform better, if you give them tasks where they
find meaningful and morally worthwhile.
• Socrates, on daring to disagree: It is about our right, as human beings,
to think for ourselves. We oppose when we think something is wrong.
We see oppositions rally on the streets against the government, or
employees rally outside of the workplace against the management.
• Epicurus, on the art of happiness: Some companies are embracing
Epicurus' philosophy, and trying to teach their employees the art of
happiness. It is about work-life balance and the organization is providing
both monetary and non-monetary benefits to employees including family
time, and travel.