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THE SOCIAL FUNCTION OF

BUSINESS
BUSINESS ETHICS DEFINED:
1. BUSINESS ETHICS is the study of what is
the right and wrong human behavior and
conduct in business.
2. BUSINESS ETHICS is a study of perceptions
of people about morality, moral norms, moral
rules, and ethical principles as they apply to
peoples and institutions in business.
3. BUSINESS ETHICS is the study, evaluation,
analysis and questioning of ethical standards,
policies, moral norms, and ethical theories
that managers and decision makers use in
resolving moral issues and ethical dilemmas
affecting business.
MORAL RESPONSIBILITY DEFINED
 Moral Responsibility refers to holding to people
morally accountable for the past action or
actions. This simply means assigning to people
blame or praise for particular actions that they have
performed.
 Moral Responsibility also means care, welfare
or treatment of others as derived from the
specific social role that one plays in the society.
 Moral Responsibility likewise refers to one‟s
capacity for making moral or rational decisions
on his own. According to Shaw, if a person is not
normally responsible in this third sense, he or she
cannot be considered morally responsible in either of
the other senses.
REASONS THAT MAY PERSUADE A
BUSINESS TO ACT ETHICALLY:

1. legal reasons, of which there


are several different sorts.
2. Public image reasons
3. Pragmatic reasons
4. Moral reasons
SOCIAL RESPONSIBILITIES OF CAPITALIST
BUSINESS PRACTICES

Four levels of Responsibility:


1. Earning profit
2. Legal responsibility
3. Ethical responsibility
4. Discretionary responsibility
LABOR CODE OF THE PHILIPPINES

 Book Five, on the other hand, entitled “labor


relations”
Policies of the State with regard to Labor:
1. To promote and emphasize the primacy of free
collective bargaining and negotiations,
2. to promote free trade unionism as an instrument
for the enhancement of democracy and the
promotion of social justice and development
3. To foster the free and voluntary organization of a
strong and united labor movement
4. To promote enlightenment of workers concerning
their rights and obligations as union members and
as employees
 5. to provide and administrative
machinery for the employees
 6. to ensure stable but dynamic and just
industrial peace
 7. to ensure the participation of workers
in decision and policy-making process
affecting their rights, duties, and welfare.
BENEFITS OF BUSINESS ETHICS
1. Goodwill of the People.
2. Prevention from Legal Actions
3. Business Ethics have Substantially Improved
the Society.
4. Ethical Practices Create Strong Public Image.
5. Ethical Practices Support Employees’ Growth.
6. Strong Teamwork and High Productivity.
7. Build Trust with the Key Shareholders.
8. Build Trust with the Key Shareholders.
9. High Profit
 Questions????
 Quiz TIME 