Business Ethics Q4 Mod4 Introduction to the Notion of Social Enterprise PDF

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Business Ethics andSocial ResponsibilityQuarter 4 – Module 4Introduction to the Notion ofSocial EnterpriseDepartment of Education • Republic of the PhilippinesGovernmentP roper tyNOT FORSAL ESenior High SchoolBusiness Ethics and Social Responsibility – Grade 11/ 12Alternative Delivery ModeQuarter 4 ...

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Business Ethics and Social Responsibility Quarter 4 – Module 4

Introduction to the Notion of Social Enterprise

Department of Education • Republic of the Philippines

Business Ethics and Social Responsibility – Grade 11/12 Alternative Delivery Mode Quarter 4 – Module 4: Introduction to the Notion of Social Enterprise First Edition, 2020 Republic Act 8293, section 176 states that: No copyright shall subsist in any work of the Government of the Philippines. However, prior approval of the government agency or office wherein the work is created shall be necessary for exploitation of such work for profit. Such agency or office may, among other things, impose as a condition the payment of royalties. Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names, trademarks, etc.) included in this book are owned by their respective copyright holders. Every effort has been exerted to locate and seek permission to use these materials from their respective copyright owners. The publisher and authors do not represent nor claim ownership over them. Published by the Department of Education Secretary: Leonor Magtolis Briones, PhD Undersecretary: Diosdado M. San Antonio, PhD Assistant Secretary: Alma Ruby C. Torio, PhD

Development Team of the Module Writers: Jessie Cris N. Abrogueña Editor: Lovella D. Tompong Reviewer: Annalyn G. Ranile Proofreader: Ronadel V. Dela Cuesta Illustrator: Manilyn F. Uayan Layout Artist: Manilyn F. Uayan Management Team:

Printed in the Philippines by______________________________ Department of Education- Bureau of Learning Resources (DepEd-BLR) Office Address: _______________________________________________ _______________________________________________ Telefax: _______________________________________________ E-mail Address: _______________________________________________

SENIOR HIGH SCHOOL

Business Ethics and Social Responsibility Quarter 4 – Module 4 Introduction to the Notion of Social Enterprise

This instructional material is collaboratively developed and reviewed by educators from public and private schools, colleges, and/or universities. We encourage teachers and other education stakeholders to email their feedback, comments, and recommendation to the Department of Education at [email protected] We value your feedback and recommendations.

Department of Education • Republic of the Philippines

Table of Contents

Introduction ------------------------------------------------------------------------------------------ 2 Pre-test ------------------------------------------------------------------------------------------------ 4 Lesson ------------------------------------------------------------------------------------------------ 5 Assessment ------------------------------------------------------------------------------------------18 Answer Key ------------------------------------------------------------------------------------------ 20 References ------------------------------------------------------------------------------------------- 21

What I Need To Know

For the Learners This module is to be done for two weeks. Included in this module is the creation of a personal action plan to assist an existing small business enterprise to practice ethics and social responsibility. Since this will take time to prepare, students will use the second week to work on this activity.

Module Content This module consists the lesson: 

Explain the importance of establishing and sustaining business enterprises as a source of job opportunities and financial freedom and prepare and implement a proposed personal action plan to assist an existing small business enterprise to practice ethics and social responsibilities in their business operation

GENERAL INSTRUCTIONS

For the learners: To be guided in achieving the objectives of this module, do the following: Read and follow instructions carefully.

For the teacher: To facilitate and ensure the students’ learning from this module, you are encouraged to do the following (you may edit this part): Clearly communicate learning competencies and objectives

Write all your ANSWERS in your ACTIVITY NOTEBOOK.

Motivate through applications and connections to real life.

Answer the pretest before going through the lessons.

Give applications of the theory

Take note and record points for clarification. Compare your answers against the key to answers found at the end of the module. Do the activities and fully understand each lesson. A

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Discuss worked-out examples Give time for hands-on unguided classroom work and discovery 2

Use formative assessment to give feedback Introduce extensions or generalizations of concepts

what you learned in each lesson. Answer the posttest after you have gone over all the lessons.

Engage in reflection questions Encourage analysis through higher order thinking prompts

Provide alternative formats for Let us check your prior knowledge about this module’s coverage. student work Direction:

Remind learners to write their answers in their Philosophy True or False. Read each statement below and evaluate whether it is true or false. Activity Notebook Write letter A if the statement is true and B if otherwise. ______ 1. Financial independence is to have enough savings and cash on hand to sustain the kind of life we desire for ourselves and our families. ______ 2.Corporate social responsibility that created as an act of protecting the profit of the company is not a realistic social responsibility and it is not a genuine work towards doing something good for the world. ______ 3.Good marketing strategy applies effectively in achieving this financial freedom. ______ 4.Sticking to a budget is the most effective way to make sure that all your bills are paid and your money will be monitored. ______ 5.Negotiating can be helpful in achieving your financial freedom. ______ 6.A person should have goals and make these goals specific like at what time of your life will you want to achieve it. ______ 7.It is the accountability of the corporation or businesses to think beyond profit for the reason that it helps the community where the business is located to create jobs for the people. ______ 8.High interest loans are very toxic in increasing wealth that is why it is essential that you have to pay the balance each month. ______ 9.The principle of diminishing interest will help you build financial achievements. ______ 10. It is important to pay attention with your credits because these determine what interest rate you are offered when you decide for your next loan.

Lesson

Importance of Establishing Business beyond Profit 3

Learning Objectives: At the end of the week, it is expected that the learners must be able to: 1. Explain the importance of the establishment and maintenance of a business as a source of job opportunities and financial freedom; 2. Express appreciation of the importance of a business enterprise as a vehicle for job opportunities and financial freedom; and 3. Create an action plan to assist an existing small business enterprise to practice ethics and social responsibility

What’s In

How can a business help create job opportunities in the community? What is financial freedom?

1. How can we generate job opportunities through creating a business?

________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________

2. Why establishing a business can help the community?

_______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ 3. Why is it important for business to think beyond profit?

_______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________

4. How can a business help you achieve savings?

_______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ 5. What are the traits needed by businessmen in order to save more money?

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_______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________ _______________________________________________________

Draw a picture in the box below reflecting the business’s role in generating jobs for the community and as a means of spawning savings for people in the locality.

Discuss the significance of the picture in terms of its contribution to the community regarding job creation and teaching people to generate more income.

____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________

The pandemic that the world is experiencing at the moment has affected the lives of people all over the world. The economy has been injured and jobs have been lost. Slowly, the world is trying to recover by transitioning into what we call the “NEW NORMAL” Countries like the Philippines is trying to recover by pushing on the continuance of economic activities. Businesses are allowed to open again adapting new policies. Since a lot of people have lost their jobs, how can corporations help the government in terms of their corporate social responsibility in the new normal? How important is job creation during the implementation of the new normal in business?

_________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________

Job Creation as Corporate Social Responsibility

Job creation is the process of creating new jobs, especially to provide work for people in the community through establishment of enterprise It is the responsibility of the corporation or businesses to think

What’s More

Financial Freedom Financial freedom is to have enough savings and cash on hand to sustain the kind of life we desire for ourselves and our families. This means that a person should have a rising amount of money to manage a career that we want to have without being focused earning a fixed salary every year. Attaining financial freedom can be very tough especially when you have growing debt, cash emergencies, medical issues and overspending. This can be countered through careful management of money. Good planning applies effectively in achieving this financial freedom. According to Matt Danielsson , there are important points to consider in achieving financial freedom. Among of these are the following: 1. Set Life Goals – a person should have goals and make these goals specific like at what time of your life will you want to achieve it. It is good that these goals should be written down so that it will serve as guide to achieve it. 2. Make a Budget – working on a budget is more reliable than anything else. Sticking to it is the most effective way to make sure that all your bills are paid and your money will be monitored. Make this as a regular routine because it supports you goals and strengthen you finances . 3. Pay Off any Financial Obligations – high interest loans are very lethal to accumulation of wealth that is why it is essential that you have to pay the balance each month. Paying on time will also help business to have good reputation in terms of payment of debt. 4. Create Automatic Savings – enrollment in a retirement plan and other similar activity will help you build your finances in the future. It is also good to have savings as an emergency fund to prepare for unexpected expenses in the future. 5. Start Investing Now – there is no other way of growing your money than to invest no matter how small your money is. The principle of compound interest will help you build financial gains. 6. Watch Your Credit – it is important to pay attention with your credits because these determines what interest rate you are offered when you decide for your next 8

loan. Always monitor your credit performance because the way you respond to your creditors will either ruin or elevate further your good name. Thus, the entrepreneur builds a good reputation to his creditors. 7. Negotiate – some people are very conscious about negotiating for goods and service because to some entrepreneurs this will make them look not charming to creditors and suppliers. Negotiating could actually help entrepreneurs save thousands of money each year. An entrepreneur has to be open for negotiation especially when buying bulk orders to open the doors for discounts. This can be helpful in achieving your financial freedom. 8. Continuous Education – Educate yourself on government policies and other laws that governs business activities to make sure of the maximization of all tax deductions. Thus, saving money in return. 9. Proper Maintenance – There should be proper maintenance of your assets to maintain the marketability of these assets. Once you decide to sell these assets, you can still sell it at a higher amount because it is well maintained.

What I have Learned?

1. Why is financial freedom important to businesses and individuals? _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

2. Explain the importance of creating budget as a means of building financial freedom. 9

_______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

3. How important is establishing goals in pursuing financial independence?

_______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

4. Why do we need to pay periodically our financial obligations?

_______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

What I can do?

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Prepare an action plan to assist an existing small business enterprise to practice ethics and social responsibility in their business operation by using the template

Name of Business: ________________________________________________________

Goal: ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ Plan Statement: ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ _________________________________________________...