Business Ethics and
Social Responsibility
Philosophies Reflected into
Business Practices
SENIOR
HIGH
SCHOOL
Module
10
Quarter 3
Business Ethics and Social Responsibility
Business Ethics and Social Responsibility- Grade 12
Quarter 3 – Module 10:Philosophies Reflected into Business Practices
First Edition, 2020
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Business Ethics
and Social
Responsibility
SENIOR
HIGH
SCHOOL
Module
10
Quarter 3
Philosophies Reflected
into Business Practices
Introductory Message
For the Facilitator:
Welcome to the Senior High School – on Philosophies Reflected into Business
Practices!
This Self-Learning Module was collaboratively designed, developed, and
reviewed by educators from the Schools Division Office of Pasig City headed by its
Officer-in-Charge Schools Division Superintendent, Ma. Evalou Concepcion A.
Agustin, in partnership with the City Government of Pasig through its mayor,
Honorable Victor Ma. Regis N. Sotto.The writers utilized the standards set by the K
to 12 Curriculum using the Most Essential Learning Competencies (MELC)in
developing this instructional resource.
This learning material hopes to engage the learners in guided and
independent learning activities at their own pace and time. Further, this also aims
to help learners acquire the needed 21st - century skills especially the 5 Cs, namely:
Communication, Collaboration, Creativity, Critical Thinking, and Character while
taking into consideration their needs and circumstances.
In addition to the material in the main text, you will also see this box in the
body of the module:
Notes to the Teacher
This contains helpful tips or strategies
that will help you in guiding the learners.
As a facilitator, you are expected to orient the learners on how to use this
module. You also need to keep track of the learners' progress while allowing them
to manage their own learning. Moreover, you are expected to encourage and assist
the learners as they do the tasks included in the module.
For the Learner:
Welcome to the Business Ethics and Social Responsibility Self-Learning
Module on Philosophies Reflected into Business Practices!
This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at your own pace and time. You
will be enabled to process the contents of the learning material while being an
active learner.
This module has the following parts and corresponding icons:
Expectations – This points to the set of knowledge and skills
that you will learn after completing the module.
Pretest - This measures your prior knowledge about the lesson
at hand.
Recap - This part of the module provides a review of concepts
and skills that you already know about a previous lesson.
Lesson- This section discusses the topic in the module.
Activities - This is a set of activities that you need to perform.
Wrap-Up- This section
application of the lesson.
summarizes
the
concepts
and
Valuing- This part integrates a desirable moral value in the
lesson.
Posttest - This measures how much you have learned from the
entire module.
EXPECTATIONS
After going through this module, you are expected to:
1. define philosophy;
2. explain the importance of having a philosophy to a corporation;
and;
3. describe the importance of business philosophy.
PRETEST
Directions: Choose the letter of the best answer. Write the answer on your
answer sheet.
1. It is the study of morality.
A. Axiology
B. Metaphysics
C. Ethics
D. Philosophy
2. It is the study of the fundamental nature of knowledge, reality, and
existence. (New Oxford American Dictionary, 2005)
A. Philosophy
B. Accounting Ethics
C. Personal Ethics
D. Ethics
3. The three branches of Philosophy except one:
A. Metaphysics
B. Axiology
C. Ontology
D. Epistemology
4. A category of metaphysics that deals with the nature of existence.
A. Accounting Ethics
B. Personal Ethics
C. Ontology
D. Cosmology
5. A key dimension to epistemology.
A. Aesthetics
B. Ethics
C. Axiology
D. Logic
RECAP
Directions: Write the letter corresponding to the correct matched definition
of each item, write the answer on your answer sheet.
_1. Partnership
A. It occurs when a person takes advantage of a
situation or piece of information for his or her
own gain rather than for the employer’s interest.
_2. Business Ethics
B. A statement of rules for guiding the behavior of
employees or members of an organization.
_3. Shareholder
C. Any person, company, or other institution that
owns at least one share of a corporation’s stock.
_4. Conflict of Interest
D. There are rules about how businesses and the
organizational members should behave
_5. Code of Ethics
E. A business organization in which two or
more individuals manage and operate the
business.
LESSON
Philosophy
Comes etymologically from two Greek words philia, which means love,
and sophia, which means wisdom. It is the study of the fundamental nature
of knowledge, reality, and existence. (New Oxford American Dictionary,
2005).
It helps us better understand who we are, why we are here, and where
we are going.
Three Branches of Philosophy
1. Metaphysics
2. Epistemology
3. Axiology
Metaphysics answers the question, “What is the nature of reality?” It is
concerned with reality and existence. It is the philosophy of being.
It has two categories:
(1) Ontology – which deals with the nature of existence.
(2) Cosmology–which inspects the origin and organization of the universe.
Epistemology answers the question, “What is the nature of knowledge?”
Logic is a key dimension to epistemology.
We can distinguish between:
(1) Deductive Logic – moving from general to specific.
(2) Inductive Logic – that is, from specific facts to general.
Axiology answers the question, “What is the nature of values?”
It has two categories:
(1) Ethics – studies human conduct and examines moral values.
(2) Aesthetics – values beauty, nature, and aesthetics experience (often
associated with music, art, literature, dance, theater, and other fine
arts).
Strands Of Philosophy
Idealism. It is the oldest philosophy of Western Culture. It is simply
based on ideas, the only true reality, the only thing worth knowing.
Realism. Reality exists independently of the human mind. World of
physical object’s ultimate reality.
Neo-Theism. It focuses on God and the individual level that believe in
the existence of a supreme being or deities through faith and reason.
Philosophers
1. Idealism- Socrates (Greek Philosopher)
Plato (Greek Philosopher, Father of Idealism)
2. Realism - Aristotle (Greek Philosopher, Father of Realism)
3. Neo-Theism -Thomas Aquinas (1225 - 1274)
Contemporary Philosophies
Pragmatism. Deals with problems in a practical way, rather than by
using theory or abstract principles.
Existentialism. A philosophical theory emphasizes the existence of
the person as a free and responsible agent determining their
development through acts of the will.
Analytic Philosophy. Philosophy should apply logical techniques to
attain conceptual clarity, and that philosophy should be consistent
with the success of modern science.
Importance of Having a Philosophy to a Corporation
A corporate philosophy can provide practical benefits at every level of
your business. The MIT Sloan School of Management defines corporate
philosophy as the act of "defining the relationship between the firm and its
stakeholders." By clarifying the nature of your relationship with the
employees, shareholders, customers, and communities that have a stake in
your company, you can help managers and employees make decisions that
contribute to your goals.
Hiring
A corporate philosophy statement can help with hiring decisions. All of
the people working at a company contribute to its culture. An employee who
doesn't fit in with your core values can undermine the culture you want.
For example, if your company relies on consultative sales techniques,
avoid hiring a sales professional with an overly aggressive attitude to closing
the sale. By setting out your values and priorities in clear, understandable
terms, a philosophy statement can provide clarity and guidance at every
level of decision-making.
Simplicity
The corporate philosophy statement is usually written by one person
or a small team at the top of the company to set the tone for the company's
culture. To write a philosophy statement, you need to decide what values
you want to emphasize and what you want people to think of when they
think of your company. Your statement should contain just three or four
easily remembered concepts.
For example, if you focus on creativity, integrity, and customer
service, your managers can easily remember these principles and apply
them when they need to make a decision.
Implementation
If you write a philosophy statement and just hang it on the wall, no
one is likely to pay much attention to it. Your statement should serve as a
guideline for assessing performance and providing recognition.
For example, if your statement focuses on creativity, you should
reward managers who seek out creative solutions and show a willingness to
try new things. If it focuses on integrity, you should recognize employees
who make tough decisions that prioritize the company's long-term
reputation for integrity over short-term profit.
Considerations
According to a 2008 article in the "Journal of Business Ethics," many
Japanese corporations have adopted corporate philosophies to guide their
decision-making processes.
For instance, Canon Inc. has a philosophy called "kyosei," defined as
"living and working together for the common good." The Fujitsu Group uses
a philosophy known as "The Fujitsu Way," a set of guidelines covering the
company's vision, values, principles, and a code of conduct.
Business Philosophy Definition
Every business leader knows how to
make certain that the company’s
mission and vision statement are
clear and well-defined. It is the
business philosophy that defines
why you are doing things the way
you are doing them. Your philosophy
of business could be an unwritten
attitude or a specifically-written
Source: Kimberlee Leonar
philosophy that defines how your people will act and interact with each
other and the general public. Such as a business leader could impart a
"Whatever it takes" philosophy by putting in additional hours, constantly
asking employees to do more in terms of performance, and expressing
absolutist ideas such as, "We're closing this sale, no matter what." Even
though this isn't defined in any mission statement or core value in the
employee handbook, it becomes part of the set expectations that leaders
have regarding employees' performance.
A written policy becomes what is referred to as a "codified policy." This
could be part of the mission statement, part of the code of ethics found in
the employee handbook, or found in a memo, which states the direction of
the company and how leaders lay out the plan for success. Philosophies can
be a positive thing or a negative thing which that directly affect employees’
morale, performance, and productivity. Through thinking and writing out
the company's philosophies, business leaders can reduce the chances that
negative habits will become part of the company culture.
The Importance of Business Philosophy
Setting yourself apart from business competitors is accomplished in
different ways. Ideally, a company has a unique product or service that's
better than products or services that its competitors offer. Your core values
as a company are what set you apart. It becomes the business philosophy
that your team and your clients experience. The business core values start
with the business leader’s core values. By integrating values into a business
philosophy, it becomes the company’s culture. A company that has a
positive culture tends to be more efficient and productive.
Pondering on it, you see just how important a well-defined business
philosophy is. Most likely, you prefer to deal with a company that has
representatives who greet you at the door and that give you the best of the
best, with a smile on their faces. Many customers are willing to pay more for
a product or service with companies that provide a better customer
experience.
Business philosophy should be genuine. Your employees will know if
you write a business philosophy merely because it makes a good sound bite
and a talking point with customers. Your customers will see through a
company touting strong values but that has no respect for consumers'
needs.
For example, if the code of ethics has a clearly stated policy of
inclusiveness, but the manager of a department divides his team into groups
because of favoritism, it becomes clear that inclusiveness is not a value he
embraces. If those above him on the corporate structure allow it to occur,
then the inclusive philosophy is seen as disingenuous and can hurt team
morale.
Being honest, standing behind your product, and being an active,
positive member of the community are all positive philosophies a business
might adopt. Cutting corners, putting profits first, and embracing exclusivity
can negatively affect a company's ability to produce the desired results.
As a leader, it is imperative that you understand how to position a
philosophy. Look for areas in which your company can embody personal
values and philosophies. Think about how you feel about customer service,
quality, honesty, and cooperation. These are usually the foundation for any
business philosophy and core value statement.
ACTIVITIES
Directions: Choose the letter of the best answer. Write the answer on your
answer sheet.
1. He believes in the existence of a Supreme Being or deities through faith
and reason.
A. Aristotle
B. Socrates
C. Thomas Aquinas
D. Plato
2. What are the three types of Contemporary Philosophy?
A. Pragmatism, Existentialism, and Neo-Theism
B. Pragmatism, Existentialism, and Realism
C. Pragmatism, Existentialism, and Idealism
D. Pragmatism, Existentialism, and Analytic Philosophy
3. It deals with problems in a practical way.
A. Pragmatism
B. Realism
C. Existentialism
D. Idealism
4. Idealism refers to the Oldest philosophy of the Western ______.
A. Nation
B. Sculpture
C. Culture
D. Country
5. Aristotle is the Father of _______.
A. Idealism
B. Realism
C. Neo-theism
D. Pragmatism
WRAP-UP
•
•
•
•
Have you ever known someone who was simply a good person? What
gets him or her apart from the others?
Have you ever known someone to change his or her ethical character
overtime? How so?
Have your ethical standards changed at different times of your life?
What happened?
What molded your moral behavior and/or moral attitudes the most?
VALUING
Ethics involves a discipline that examines good or bad practices within
the context of moral duty in society. whether these standards are reasonable
or unreasonable – that is, whether they are supported by good reasons or
poor ones. Personal Ethics starts when you take the moral standards you
have absorbed from family, church, and friends and ask yourself.
(1) What do these standards imply for the situations in which I find
myself?
(2) Do these standards make sense?
(3) What are the reasons for or against their standards?
(4) Why should I continue to believe in them?
(5) What can be said in their favor and what can be said against them?
(6) Are they reasonable for me to hold?
(7) Are their implications in this or that particular situation reasonable?
POSTTEST
Directions: Choose the letter of the best answer. Write the answer on your
answer sheet.
1. Which of the following statement is TRUE?
A. Personally, I do not have a philosophy
B. real philosophy is only found in an academic environment
C. a "worldview" may be defined as a philosophical belief system
D. aphorism in themselves are philosophical untenable
2. Metaphysics can be defined as________________
A. that which is logical
B. study and discourse
C. analysis and synthesis
D. theory of that is "beyond the physical"
3. Ethics can be defined as_________________
A. the study of ideal conduct
B. a legal fiction
C. the thought processes characteristic of an individual or group
D. a matter of personal preference
4. Logic is_________________
A. arbitrary therefore optional in informal conversation
B. a "useless passion"
C. not of primary importance in philosophy
D. the study of correct reasoning and valid inferences
5. Knowledge is often defined (by Plato and other philosophers) as _____
A.any idea
B.an idea about God or the supernatural
C.justified true beliefs
D.any idea held to be true
KEY TO CORRECTION
EXPECTATIONS
References
Leonard, Kimberlee. “The Importance of Business Philosophy.”
Small Business - Chron.com. Chron.com, August 29, 2018.
https://smallbusiness.chron.com/importance-business-philosophy37798.html.
Racelis, Aliza. Business Ethics and Social Responsibility. Manila: Rex Book
Store, 2017.