Jaezl Zia Z.

Espiritu
12 Armani

1. What is the code of ethics of your small business enterprise? Enumerate and explain.

CODE OF ETHICS OF FILIPINO TWIST

The staff and all the members of the organization must uphold the following values and
practice what is stated:

a. Professionalism
Always practice proper decorum. Be professional and act civil.
i. The business may be peer-operated but this is a virtue that the student
entrepreneurs must uphold. The Entrep Bazaar gave us an opportunity to
put into practice what we are learning in our course subjects and it creates
an environment that would really give us a sense of professionalism.
b. Honesty
Be truthful, trustworthy and honest at all times with regards to all business
transactions.
i. “Honesty is the best policy” as what others might say. Indeed, it is,
especially in the business industry where handling of money is a top
concern. The financial allocation for a certain product should be the same
as the exact price it was bought. If the budget exceeds, the change should
be returned to the financial manager; Receipts should always be presented
after buying goods for production.
c. Trust
Trust the members of the organization and avoid hasty accusations.
i. Trust is the main foundation of putting up a small business with lots of
business partners. It is a need when it comes to doing a group work. An act
will only be successful if it is done with trust. Also, it provides a motivation
for each member because no one is doubting them.
d. Practicality
Be practical in terms of financial management; practice wise allocation of resources
and avoid buying overpriced products.
 i. The mantra of our business enterprise was “Less gastos, more kita”.
Practicality is a must when putting up a business because the goal is to gain
profit. We aimed to maximize the resources we have and generate larger
profit through it.
e. Respect

Respect the customers, your workmates and your leader; respect everyone.

i. Respect is essential to survive in the business industry; not only to the

customers but to your workmates as well.
f. Care for the environment
Ensure the safety of the environment by observing 5s and by using materials that
are not harmful to the environment.
i. The products that must be used are environmentally friendly. Usage of
plastics and Styrofoam are prohibited. The surroundings must always be
clean and orderly.
2. How does your experience in entrep bazaar influenced your idea of virtue? Explain using
the diagram used in the class?
a. Experience
i. The entrepreneurial bazaar gave us an experience of being immersed into
the business industry where it did not only require us to manage a business
but also to handle the finances, promotion and marketing aspect. It taught
me how hard it is to be in the industry especially if there are lots of other
competitors which also offers good products. Also, it required good
communication skills within the members and helping each other is a must
in order to succeed.
b. Reflection
i. Realizing how hard it is to manage a business unexperienced, it helped me
become more aware as to how to survive in this industry. Each one of us
had our assigned tasks and I could really say that interdependence is
inevitable and essential in a business. For it to function, everyone must exert
effort to fulfill their duties.
 c. Values
i. The Entrepreneurial Bazaar taught me patience, persistence and intelligent
execution of plans. Patience, because attracting customers was not an easy
job and we really had to wait and be patient until people actually buy our
products. Persistence, because even though it was hard, we did not give up
until our last products were sold. Intelligence, because had we not followed
the plans we have made accordingly, we could not have had the profit we
were aiming for.
d. Principles
i. Indeed, if one fails to prepare, then he is preparing to fail. I believe that
success is gained not by mere right decisions but careful planning. I have
noticed that lots of other groups failed to gain profit or even return their
expenses because they did not prepare for the event very well. Had they
planned and calculated how they would gain profit, they would have gained
more. Seeing the consequences of lack of preparation, it has affected my
principles in a way that I would now always consider planning before doing
something.
e. Action
i. After experiencing the Bazaar, I have learned a lot of things that I can put
into practice. Persistence, patience and planning not only in the course of
business but in all aspects of my life. I apply it in my studies, in my dancing
career and in my personal life.
3. What are some unethical practices you noticed during the Bazaar?
a. Forcing customers – Some sellers in the Bazaar pulls their friends to their booths
and force them to buy their products. It is unethical because we should always
respect customers and let them choose what to buy on their own.
b. Bribing as a promotion – we often hear “Bili ako sainyo, basta bili ka rin samin”.
It shows lack of professionalism.
c. Slacking workmates – some of the groupmates of other booths are not doing
anything while other members do all the work.
 d. Inaccuracy of financial record – Some didn’t have receipts to show and just
guessed how much the product they bought cost. The accuracy of the financial
record then is disturbed.
e. Eating own products when there are no customers – Personal food and the food for
the customers should be separate because the products are funded by the business.
If we consume it, there is a possibility that were not going to gain the right profit.
4. How is your product beneficial to your consumers? What makes your product morally
good? Define good based from the classical philosophers.

Our products were beneficial to our customers because most importantly, it is

affordable, and the packaging used were environmentally friendly. We considered
that most of our customers will be students. Thus, we assured that the products we
were going to sell is budget friendly. We made sure that its affordability did not
affect its quality because our goal was not only to gain financial success but to
provide good products to our customers. Indeed, it did not only fill their tummies,
but it also satisfied their taste buds. We carefully formulated how were going to
provide quality products without charging consumers much. It required lots of
brainstorming, practicality concerns and strategy making. It was not easy because
it we made sure to consider all the things we need to do in order to achieve our goal.
According to Socrates, Knowledge is the propagation of what is good, a virtue, or
excellence. Considering how we carefully and intelligently formulated such
business strategy, the products and the outcome of our business plan can be
regarded as “good”, morally and ethically. It follows Socrates’ definition of what
is good because we did not only create something out of technical skills but lots of
knowledge and inquiry.