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Business Ethics and Social Responsibility Quarter 3 – Module 2: The Core Principles Underlying Fairness, Accountability, and Transparency in Business Operation and Stewardship

Business Ethics and Social Responsibility – Grade 12 Alternative Delivery Mode Quarter 3 – Module 2: The Core Principles Underlying Fairness, Accountability, and Transparency in Business Operation and Stewardship 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 module 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 Undersecretary: Diosdado M. San Antonio

SENIOR HS MODULE DEVELOPMENT TEAM Author Co-Author – Language Editor Co-Author – Content Evaluator Co-Author – Illustrator Co-Author – Layout Artist Team Leaders: School Head LRMDS Coordinator

: Gina R. Bagtas : Eloisa A. Irasga : Arjay A. Serrano : Gina R. Bagtas : Melbourne L. Salonga

: Reynaldo B. Visda : Melbourne L. Salonga

SDO-BATAAN MANAGEMENT TEAM: Schools Division Superintendent OIC- Asst. Schools Division Superintendent Chief Education Supervisor, CID Education Program Supervisor, LRMDS Education Program Supervisor, AP/ADM Education Program Supervisor, Senior HS Project Development Officer II, LRMDS Division Librarian II, LRMDS

: Romeo M. Alip, PhD, CESO V : William Roderick R. Fallorin, CESE : Milagros M. Peñaflor, PhD : Edgar E. Garcia, MITE : Romeo M. Layug : Danilo S. Caysido : Joan T. Briz : Rosita P. Serrano

REGIONAL OFFICE 3 MANAGEMENT TEAM: Regional Director Chief Education Supervisor, CLMD Education Program Supervisor, LRMS Education Program Supervisor, ADM

: May B. Eclar, PhD, CESO III : Librada M. Rubio, PhD : Ma. Editha R. Caparas, EdD : Nestor P. Nuesca, EdD

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Business Ethics and Social Responsibility Quarter 1 – Module 2: The Core Principles Underlying Fairness, Accountability, and Transparency in Business Operation and Stewardship

Introductory Message This Self-Learning Module (SLM) is prepared so that you, our dear learners, can continue your studies and learn while at home. Activities, questions, directions, exercises, and discussions are carefully stated for you to understand each lesson. Each SLM is composed of different parts. Each part shall guide you step-bystep as you discover and understand the lesson prepared for you. Pre-tests are provided to measure your prior knowledge on lessons in each SLM. This will tell you if you need to proceed on completing this module or if you need to ask your facilitator or your teacher’s assistance for better understanding of the lesson. At the end of each module, you need to answer the post-test to self-check your learning. Answer keys are provided for each activity and test. We trust that you will be honest in using these. In addition to the material in the main text, Notes to the Teacher are also provided to our facilitators and parents for strategies and reminders on how they can best help you on your home-based learning. Please use this module with care. Do not put unnecessary marks on any part of this SLM. Use a separate sheet of paper in answering the exercises and tests. And read the instructions carefully before performing each task. If you have any questions in using this SLM or any difficulty in answering the tasks in this module, do not hesitate to consult your teacher or facilitator. Thank you.

What I Need to Know

Being an Accountancy, Business, and Management (ABM) student, you can be employed later in an enterprise or even in a big corporation. Hence, it is important for you to know the ways on how fraud or problems can be prevented in work areas or offices. As such, the core principles of fairness, accountability, and transparency should be learned so that you can apply the knowledge in case you encounter those fraudulent or problematic situations in the future.

After going through this module, you are expected to: 1. classify the situation if is shows fairness, accountability, or transparency; 2. explain the core principles of fairness, accountability, and transparency; and 3. illustrate how fairness, accountability, transparency and stewardship is observed in business and non-profit organizations.

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What I Know

Directions: Identify what is defined or described by choosing the letter of your answer. Write your answers on a separate sheet of paper. 1. It is the explication and justification process. A. accountability B. fairness C. transparency

D. efficiency

2. It is giving to a person what is due to him/her. A. accountability B. fairness C. transparency

D. efficiency

3. This act should be done accurately to the company’s investors. A. hiring B. reporting C. organizing D. auditing 4. This approach makes a person more honest and sincere. A. accountability B. fairness C. transparency D. efficiency 5. This means that the standard of judging is free from bias. A. accountability B. fairness C. transparency D. efficiency Directions: Identify whether the statement is True or False. 6. When a manager is not bias, he/she is fair. 7. Ted showed transparency when he reimbursed his expenses without showing official receipts. 8. An employee is accountable to pay whatever company property he/she has damaged or lost. 9. Fairness is shown when one listens to the two sides of a story. 10. Accountability is shown when one admits his/her mistake and is responsible for it. 11. Betty exercised fairness when she paid the right amount for an item purchased. 12. Transparency is shown when the accountant hides the records from the other shareholders of the company. 13. Bobby is exhibiting transparency when he holds an open bidding for the company’s next project. 14. Mina should pay the money collection that she lost in the restaurant, being the treasurer of the lending company where she works. 15. A boss may choose who among his employees will be given 13th month pay.

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Lesson

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The Core Principles Underlying Fairness, Accountability, and Transparency in Business Operation and Stewardship

What’s In

Directions: Answer the following questions. Write your answers on a separate sheet of paper. Recall your On-the-Job Training. Share your observation in the employees’ performance of their duties. Explain your answers briefly. 1. Were the employees fair in the performance of their duties? ___________________________________________________________________________ ___________________________________________________________________________ 2. Were they accountable when they lost something? ___________________________________________________________________________ ___________________________________________________________________________ 3. Were the records transparent? ___________________________________________________________________________ ___________________________________________________________________________

Notes to the Teacher / Facilitator For the sharing of their On-the-Job (OJT) training experience, explain to the students that they need not mention the name of the company or office where they had their OJT for confidentiality reason. What is important here is their answer or their observation.

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What’s New

Activity 1 Directions: Read the text below and follow the given instructions. Write your answers on a separate sheet of paper. Miguel works as an accountant in a big corporation. For 2019, the tax payable by his company to the Bureau of Internal Revenue (BIR) is more than Php 10,000,000.00 pesos. Since he is assigned to transact business with the BIR, he connived with the revenue officer where they both agreed to lower the tax to Php 5,000,000.00 only. Then, the Php 2,000,000.00 was given to the collecting officer and the Php 3,000,000.00 went to Miguel’s own pocket. Supposing you work with Miguel at the accounting department and you suddenly discovered what he did, what would you do? Put check (/) if the action is acceptable. If not, leave it as it is. _____ I will talk to Miguel and tell him that I will not report him provided that he shares with me his part. _____ I will immediately report him to the manager. _____ I will not do anything because I do not want to be involved in the issue. _____ I will share the information to my closest officemate, but we will never disclose it to others.

Activity 2 Directions: Answer each of the following questions in two to three sentences. Write your answers on a separate sheet of paper. 1. Have you been blamed for something you did not do? Explain what happened. ___________________________________________________________________________ 2. Have you gotten a grade that you think you did not deserve? Explain what happened. ___________________________________________________________________________ 3. Have you lost somebody else’s property which you just borrowed? Explain what happened. __________________________________________________________________________

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What is It

To help the business organization get on the right track, there are three core principles that should be implemented in its operation - fairness, accountability, and transparency. Fairness This is the standard of judging which is exempted from bias or prejudice. When someone displays fairness in making decision, he/she pleases all involved parties and offers a solution that is beneficial to everyone. In business context, fairness means balancing the interests involved in all decision-making including those related to hiring, firing, and the compensation and reward system. Employees think of their organizations as just when the rewards and the way they are distributed are fair. Fairness is giving to a person what is due to him/her. It has something to do with justice because the employer checks whether the members have the benefits and burdens distributed evenly to them. Examples of fairness: 1. A boss listening to both sides of the story before judging who is right and who is wrong. 2. An employer giving 13th month pay to all his/her employees. 3. A person paying the right price for a product purchased or for a service received.

Accountability The most important aspect of preventing and detecting corruption is the sound accountability structures. A civil society organization without proper systems of accountability is fragile and open to rumors of mismanagement and abuse of authority. Worst of all, lacking it will prevent the organization from enjoying full respect and legitimacy in the eyes of its stakeholders, including those bearers of duties that it intends to advocate with. Accountability is the explication and justification process. It is about testing, forming a judgment, and taking an action if necessary. It also comes with responsibilities. Holding people to account for those actions which they are responsible for is fair. Accountability is therefore an obligation to demonstrate that work has been carried out in accordance with agreed rules and standards, or to report on performance results fairly and accurately in relation to mandated roles and/or plans.

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Examples of accountability: 1. A cashier admits he/she lost the company’s collection and it is his/her mistake. 2. An engineer who is assigned on a project is the one to be blamed if the project did not meet the deadlines. 3. Employee A recommended his cousin to be their company janitor, but the latter stole the cellular phone of their secretary. Therefore, Employee A may be blamed for recommending his/her cousin and should pay or replace the lost cellphone.

Transparency Transparency, at the individual level, considers intrinsic or ethical salience as an important feature of the relational dimension of a person. It is described as a personal quality which is necessary to develop unity between and among individuals. A transparent approach makes a person more honest and sincere in his/her relationships, in communicating his/her points of view, and in working actively to find shared meanings and goals. Organizationally speaking, the instrumental salience of transparency is identified as an important mechanism for ensuring social responsibility. For example, adequate disclosure is required to inform donors of how an organization uses its money. Transparency helps people to consider how the actions of social organizations such as multinational agencies and non-governmental groups offer meaningful support to civil society and whether funding is being properly spent. More examples of transparency: 1. Reporting accurately the company’s financial situation and risks to investors 2. Holding and selecting bids according to an open pre-defined process 3. Having an open process of decision-making such as in hiring additional employees

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What’s More

A. Directions: Classify each situation below whether it shows fairness, accountability, or transparency by putting a check in the proper column. An example is given below. Write your answers on a separate sheet of paper. Situation Fairness Accountability Transparency Cindy, the treasurer, accommodates the inquiries as to the cash on hand / of their cooperative. 1. While fixing his table, Arthur accidentally dropped the electronic calculator provided by the company. 2. XYZ Enterprises gave all its employees 13 th month pay. 3. Sonia and Rita fought inside the office. Hence, both were suspended for three days. 4. The cashier took her noon break but forgot to lock her drawer. To her dismay, all her collections the whole morning were stolen. 5. The book of sales of XYZ Corporation is open for those who are interested. 6. The employee discovered that his/her salary was short by P1,000 and asked the payroll officer who, in turn, showed him/her the records. 7. The purchaser of the company paid the exact amount for the supplies. 8. The teller was short by P2,000. 9. The driver forgot to get the baggage. 10. The boss shows the receipt to the accountant.

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B. Directions: Cite two situations on how you can apply fairness, transparency, and accountability in dealing with your teachers and family/parents. Copy the table below and write your answers on a separate sheet of paper.

Criteria

Teachers

Fairness

Transparency

Accountability

8

Family/parents

What I Have Learned

Directions: Construct a short paragraph for each number below beginning with the given phrase. Write your answers on a separate sheet of paper. 1. I could show fairness by __________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ 2. I could show accountability by ____________________________________________ ___________________________________________________________________________ ___________________________________________________________________________

3. I could show transparency by _____________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ Rubrics: Writing mechanics/Content Grammar Total

3 pts. 2 pts. 5 pts. for each number

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What I Can Do

Directions: Assume that you formed a non-profit organization during this time of pandemic. It aims to accept donations from concerned individuals or groups and distribute to those who are in need. As its founder, think of ways on how you could show fairness to your members and to the beneficiaries, accountability with the office properties and donations, and transparency in the transactions of your organization. Describe briefly what you would do. Write your answers on a separate sheet of paper. Plan of Actions: Fairness To Members

To Beneficiaries

1.

1.

2.

2.

3.

3.

4.

4.

5.

5.

Accountability To Office Properties

To Donations

1.

1.

2.

2.

3.

3.

4.

4.

5.

5.

Transparency in Transactions 1. 2. 3. 4. 5.

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Assessment

Directions: Match the term in Column A to its definition/description in Column B. Write only the letter of your answer on a separate sheet of paper. A 1. transparency 2. reporting 3. fairness 4. decision-making 5. accountability

B A. It is the explication and justification process. B. It is giving to a person what is due to him/her. C. This act should be done accurately to the company’s investors. D. This approach makes a person more honest and sincere. E. An example of this act involves hiring of workers.

Directions: Complete each sentence below by filling in the blank/s . Choose your answers from the box and write them on a separate sheet of paper. Efficiency Bias

Fairness Transparency Accountability

6-8 _____________, _________________, and _______________ are the three important core principles in business organization. 9. _________ is shown when one listens to the two sides of a story before giving his/her judgment. 10. _________ is shown when one admits his/her mistake and is responsible for it.

Directions: Read each sentence carefully and identify whether it is correct or incorrect. Write your answers on a separate sheet of paper. 11. One exercises fairness when he/she pays the right amount for an item purchased. 12. Transparency is shown when one hides the records from the other shareholders of the company. 13. Bong is exhibiting transparency when he holds an open bidding for company’s next project. 14. Lito should pay the money collection which he lost in the restaurant, being the treasurer of the lending company where he works. 15. A boss may choose who among his/her employees will be given Christmas bonus

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Additional Activities

Directions: Recall your On-the-job training experience. Were there violations on the following principles? Write your answers on a separate sheet of paper. Explain your answers briefly. 1. Fairness ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ 2. Accountability ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ 3. Transparency ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________

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13 What I Know 1. A 2. B 3. B 4. ...