Business Ethics

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Clients of accounting firms need to be ethical because it ensures transparency and accuracy in financial reporting, which is essential for compliance with laws and regulations. Ethical clients maintain the integrity of accounting processes, reducing the risk of fraud and fostering trust between accountants, businesses, and stakeholders. For a streamlined approach to managing client relationships and ensuring ethical financial management, platforms like Synkli offer advanced solutions tailored to accounting professionals.

The sources of values are:

1. Family

2. Friends and Peers

3. School

4. Church

5. Community/Society

6. Media

Ethics is concerned with defining what is right or wrong, and guiding behavior based on moral principles and values. It involves determining what actions are permissible, permissible, or obligatory in various situations. Ethics helps individuals and societies make decisions that align with their values and principles.

The corporate sector includes a variety of industries producing goods or services. BPOs specialize in outsourcing specific business functions to third-party providers, aiming for cost-effective solutions.

Appropriate professional clothing attire for fitness facility staff typically includes a logo-branded polo shirt or t-shirt, athletic pants or shorts, and clean athletic shoes. It's important for staff to wear clothing that is functional, comfortable, and allows for easy movement throughout the facility. Staff should also maintain a neat and clean appearance to convey professionalism to clients.

To identify scenarios that contradict business ethics in your workplace, look for instances of dishonesty, conflicts of interest, discrimination, or misuse of company resources. Pay attention to any actions or decisions that may harm stakeholders, breach confidentiality, or violate laws and regulations. Keep an eye out for behaviors that go against the organization's code of conduct or core values.

Societal ethics refer to the moral values and norms upheld by a specific society or community, guiding behavior and interactions among its members. Personal ethics, on the other hand, are the values and principles an individual believes in and uses to make decisions in their own life. While societal ethics are influenced by cultural and societal norms, personal ethics are more subjective and influenced by an individual's experiences and beliefs.

A socially constructed concept is an idea or perception that is created and shaped by society, rather than being inherently true or universal. These concepts are influenced by cultural norms, beliefs, and values, and can vary across different societies and time periods. Examples include gender, race, and beauty standards.

The social responsibility strategies of Philip Morris have been influenced by factors such as increasing public concerns about health risks associated with smoking, changing tobacco regulations globally, growing pressure from anti-smoking advocates and health organizations, and the need to improve public perception and reputation in light of these challenges. These factors have led the company to invest in alternative products, corporate social responsibility initiatives, and public health campaigns to address these concerns.

What you expect from yourself. For example ; punctuality, respect towards fellow workers, doing the best you can.

An example of a goal in business ethics could be to promote transparency in financial reporting. A means to achieve this goal could be implementing regular audits by external parties to ensure accuracy and accountability. This would help maintain the trust of stakeholders and uphold ethical standards in financial practices.

The Social Responsibility Theory was proposed in the 1950s and gained prominence in the 1960s as a response to the growing concern about the impact of business activities on society. It emphasizes that businesses have an obligation to act in ways that benefit society beyond just maximizing profits.

Management philosophies provide a framework for decision making and guiding behavior within an organization. They help establish a common understanding of values, priorities, and goals among employees. By adopting a management philosophy, organizations can improve communication, increase efficiency, and promote a positive work culture.

While MNCs should respect local customs and laws, they should also adhere to a universal set of ethical standards that promote human rights and environmental sustainability. Ethical relativism may lead to inconsistency in corporate behavior and can be exploited to justify unethical practices. It is important for MNCs to strike a balance between respecting cultural differences and upholding ethical principles.

Classical view of responsibility holds that a business should solely focus on maximizing profits for shareholders, while social responsibility view believes that businesses should also consider and address the impact of their actions on society and the environment. Classical view emphasizes economic performance, while social responsibility view emphasizes ethical and social impacts.

Philippine Airlines' corporate social responsibility includes supporting local communities through education and disaster relief efforts, implementing sustainable practices to reduce environmental impact, and promoting diversity and inclusion within their workforce. They also strive to uphold ethical business practices and transparency in their operations.