Q4-W1-BESR - Week 1 Act PDF

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Points to RememberResponsibility and Accountability Defined?Responsibility – refers to the duty or obligation to satisfactorily perform or complete a task (assigned by someone, or created by one’s own circumstances) that one must fulfill, and which has a consequent penalty for failure.Accountability...

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Name: _______________________________________ Grade/ Section: ______________ QUARTER 4 | WEEK 1 | ACTIVITY

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Subject Matter:

Business Ethics and Social Responsibility | Grade 12 Discuss the responsibilities and accountabilities of entrepreneurs to different staeholdrs (ABM_ESR12IVi-l-3.1) Responsibilities and Accountabilities Of Entrepreneurs Points to Remember

Responsibility and Accountability Defined? Responsibility – refers to the duty or obligation to satisfactorily perform or complete a task (assigned by someone, or created by one’s own circumstances) that one must fulfill, and which has a consequent penalty for failure. Accountability – is the or results vis-à-vis mandated roles and/or plans.

on performance

Primary Responsibility and Accountability to Different Stakeholders A. EMPLOYEES Employees are the true assets of an organization. They are the ones who contribute effectively towards the success of every business so, in return entrepreneur has responsibilities and accountabilities to fulfill for the safety and welfare of their employees. The company should have an attractive compensation packages to attract more potential talents who can be a help in achieving organization’s long-term goals. Pay Wages/ Salaries, Taxes and Benefits

Assignment of Right Jobs

Create and Maintain an Ergonomic Workplace

Wages/salaries should always be on time and without delay so as the employees can meet their individual obligations thus, motivates them to stay and do well in the business. Taking into consideration the technical and the educational background of the employees in assigning them to the job where they are good at or aligned with their skills and abilities. Mismatching of jobs with employee’s qualification is discouraged. Entrepreneurs must also make employees aware of areas in their business that have a high risk for injury and train their employees in safety procedures to minimize the risk of injury. Working environment that are properly ventilated and illuminated improve employee’s performance, their health and well-being.

Points to Remember Primary Responsibility and Accountability to Different Stakeholders

Facilitate Employee’s Compensation Insurance

Support Career Development

When injuries occur through no fault of their employees, it’s their responsibility to file a claim with their employees’ insurance provider. Businesses must treat their injured employee with respect and file the claim without attempting to cause a delay in processing or attempt to deter the worker from filing a claim at all. Career development is providing support and encouragement for employees to enhance their skills and capabilities as an employee. Provide a human resources development system that supports the careers of employees, a self-development support program, and transfer opportunities for willing employees. Acquisition of new knowledge and skills through the professional and personal development of employees is a pre-requisite and a guarantee of business’s success. Professional development also includes dialogues with colleagues, peer mentoring and peer collaboration for achieving business goals.

Train and Educate Employees

Every individual wants to develop. So, the responsibility of the entrepreneur is that he should make all possible efforts for the individual development of the employees and may impartially provide them equal opportunities for that. These opportunities include imparting education and training, give timely promotions, transfers at the right time and their participation in the management of the business, etc.

Enforce AntiDiscrimination Law

Any problems or issues that arise with guests or colleagues from overseas may require involvement of embassies, government agencies, local cultural groups, or diplomatic services to help resolve them.

Respect Human rights

Business operations are interrelated with a wide range of people and societies throughout the world, and implements and enforces a code of conduct that fosters respect for human rights.

Give Rewards and Benefits

Gather data from the labor market on a regular basis, ensuring that reward structures remain competitive. Employees are more likely to strive in their work if there is anticipated reward, they’ve value, such as salary increase, bonus, and promotion, rather than if there is none. It is also mandated in the Labor Code of the Philippines that entrepreneur should pay fringe benefits such as PhilHealth, Social Security, PAG-IBIG, taxes out of employees’ wages/salaries for each employee working in their business.

Points to Remember Primary Responsibility and Accountability to Different Stakeholders Recognition boosts esteem and morale in which employees feel important, satisfied, and inspired. Recognizing employees for accomplishments can be an important reason for employees to stay. Providing these benefits motivate many employees to stay and do well in the business.

Give Security and Employment

The entrepreneur should provide employment security to the employees of his organization, which will cause the sense of satisfaction among them and they will work with full interest, dedication, and commitment and will feel free from the apprehensions of losing a job and will have the higher degree of faith in the employer.

B. GOVERNMENT In Business, the responsibilities of entrepreneurs towards the government, professional institutes, and other business institutions are very essential. The government sets the targets for the balanced and rapid economic development of the country. The rules framed by the government for business should be fully Compliance of complied with. The entrepreneur should follow the laws regarding Government obtaining licenses for a specific business, the operation of the Rules business determination and production and etc.

Payment of Taxes

Not to Correct the Government Machinery Not to Seek Political Patronage by Unfair Means

The government imposes various types of taxes, like, income Taxes, sales tax, excise tax, tariff duties and wealth tax on the entrepreneur and business, for raising financial resources. Entrepreneurs should honestly pay these taxes. The government appoints the officers to implement its policies. The social responsibility of the entrepreneur is that he may not correct the government officers and employees for getting wrong favors or some Anti-Social purposes.

By giving anti-social activities with political patronage hits the democratic values.

Cooperate with The government sets the targets for the balanced and rapid Government for economic development of the country. For that, the Economic Development C. CREDITORS A creditor is an entity (person or institution) that extends credit by giving another entity permission to borrow money intended to be repaid in the future. Various plans are prepared for development and expansion of the business and for that various projects are also formulated. For their completion, capital is the foremost requirement, which is fulfilled through loans from the individuals, Financial Institutions and Banks.

Points to Remember Primary Responsibility and Accountability to Different Stakeholders Obtain Loans on Reasonable Conditions

Some certain conditions are required to be fulfilled to obtain any type of loan. These conditions should be reasonable, both for the creditors and the business organization.

Follow Mortgage Rules

The creditors provide loans in secured and unsecured forms. If the creditor has provided the secured loan on the mortgaged property, the entrepreneur should follow the rules of mortgaged property.

Follow Business Ethics

Both the entrepreneurs and creditors should follow the business ethics in providing loans and in repayment of loans. The loan procedures should be honestly complied with.

Proper Utilization of Debt Capital

Regular Payment of Installment and Interest

Loans are obtained for particular objectives. Hence, entrepreneurs should utilize the loan amount only for the desired objectives. The loan amount should not be utilized by small entrepreneurs for unproductive activities. Not only that, but loan capital should also be invested only for objectives and projects specified for the loans. Loan capital should be utilized with the utmost economy. The entrepreneurs should pay loan installments and interest regularly, according to . If installments and interests are not paid timely, the loan burden goes on increasing and

. D. SUPPLIERS The services of the suppliers are also important for any business because they supply raw materials, machinery, labor, and other materials. Without hem, the smooth operation of the business is quite difficult. The entrepreneurs should pay reasonable prices for the materials purchased from the suppliers. Often, the farmers provide cotton, sugarcane, and jute etc. to various industries, for use as raw materials. However, the Industrialists pay them very low prices for these commodities. Pay fair prices of goods at a Entrepreneurs should pay reasonable prices for this type of raw reasonable time material. The responsibility of the entrepreneurs is that payment to the suppliers may be made in time so that they may not have to face financial difficulties and may carry out their operations efficiently and smoothly.

Inform about Changes in Market

So that the suppliers may make necessary changes in their manufacturing projects, according to the requirements.

Points to Remember Primary Responsibility and Accountability to Different Stakeholders Give guarantee of Minimum Price

Provide technical Advice

The entrepreneurs should give the guarantee of minimum prices to the suppliers so that they may feel assured about the certainty of the price and may continue to maintain their will power. The entrepreneur has the responsibility to provide technical assistance to the suppliers for the production of a new and substitute or replaces supplies/commodities. The entrepreneurial organizations and Institutions and suppliers together should short research projects. The Entrepreneur

Inform Suppliers of Future Developments

Promote Healthy Competition

so that they will be aware of these circumstances, thus, develop and become capable of increasing their resources so as to meet the increasing demand in the future.

among the suppliers, for the sake of obtaining goods from them at the minimum price, only healthy competition should be encouraged. Besides, encouragement should be provided to individual suppliers and institutional suppliers.

The Concept of Stakeholder In a business context, customers, investors and shareholders, employees, suppliers, government agencies, communities, and many others who have a “stake” or claim in some aspect of a company’s products, operations, markets, industry, and outcomes are known as stakeholders. These groups are influenced by business, but they also have the ability to influence businesses; thus, the relationship between companies and their stakeholders is a two-way street. Primary stakeholders are those whose continued association is absolutely necessary for a firm’s survival; these include employees, customers, investors, and shareholders, as well as the governments and communities that provide necessary infrastructure. Secondary stakeholders do not typically engage in transactions with a company and thus are not essential for its survival; these include the media, trade associations, and special interest groups.

Activity 1. Multiple Choice. Read and analyze each statement below and choose the letter that corresponds the correct answer. 1. It refers to the obligation to demonstrate that work has been conducted in compliance with agreed rules and standards or to report fairly and accurately on performance results vis-àvis mandated roles and/or plans. A. Responsibility B. C. Transparency D. Fairness 2. What responsibility of an entrepreneur to pay their employees of their business at least the minimum hourly wage in their locality? A. B. Assignment of right jobs C. Create and maintain an ergonomic workplace D. None of the above 3. What responsibility of an entrepreneur in which employees cannot be disadvantaged, dismissed, or not given employment for any mentioned. A. Facilitate employees’ compensation insurance B. Support career development C. Train and educate employees D. 4. Reward employees fairly and attractively is one of the responsibilities of an entrepreneur to his/her employees. A. Respect human rights B. C. To give security and employment D. All of the above 5. The following are responsibilities of an entrepreneur to the government EXCEPT for: A. Compliance of government Rules B. Payment of taxes C. D. None of these 6. What responsibility of the entrepreneurs which is not to seek political patronage by providing undue economic help to any political party or politicians during elections? A. Payment of taxes C. To cooperate with government for economic development D. None of these 7. Loans should always be paid in on the maturity date, which facilitates regular capital flow in the business society and also saves the Banks and Financial Institutions from adverse effects. A. Obtain loans on reasonable conditions B. Follow mortgage rules C. D. Poor utilization of debt capital

8. The entrepreneurs have the responsibility to provide regular information to the suppliers regarding changes happening in the demand of the commodities in domestic or in foreign markets. A. Pay fair prices of Goods at a reasonable time B. C. Give guarantee of Minimum Price D. Motivate Indigenous Supplies 9. Any unhealthy and hostile rivalries among dealers should not be permitted by the entrepreneur. A. Motivate Indigenous Supplies B. Provide technical Advice C. Inform Suppliers of Future Developments D. 10. What is your analysis of the given statements below? Statement 1: The Entrepreneur should not provide information about possible future development to the suppliers, in time, so that they mold themselves according to the changing circumstances. Statement II: Entrepreneur should provide cooperation to the government by proper utilization of available resources in accordance with the government targets. A. Both Statements are true C. Activity 2.

or

B. Only Statement 1 is true D. Both Statements are false

. Identify each statement whether TRUE or FALSE Situations

Reflected Value

1. . 2. 3. 4. 5.

Activity 3. Case Analysis. Read the following case and answer the guide questions. Questions for analysis: 1. What are the ethical and legal issues? 2. What are Kent’s options? 3. Discuss the acceptability and commercial use of sex, violence, and gambling in the the Philippines. 4. Are marketing sex, violence, and gambling acceptable in other countries if they fit their culture?

Kent got Lucky? This case is strictly hypothetical; any resemblance to real persons, companies, or situations is coincidental (Adapted from Business Ethics: Ethical Decision Makin by Ferrel et. al)

Kent was getting pressure from his boss, parents, and wife about the marketing campaign for Broadway Corporation’s new video game called “Lucky.” He had been working for Broadway for about two years, and the Lucky game was his first big project. After Kent and his wife, Amy, graduated from college, they decided to go back to their hometown of Las Cruces, New Mexico, near the Mexican border. Kent’s father knew the president of Broadway, which enabled Kent to get a job in its marketing department. Broadway is a medium-size company with about 500 employees, making it one of the largest employers in Las Cruces. Broadway develops, manufactures, and markets video arcade games. Within the video arcade industry, competition is fierce. Games typically have a life cycle of only 18 to 24 months. One of the key strategies in the industry is providing unique, visually stimulating games by using color graphics technology, fast action, and participant interaction. The target markets for Broadway’s video products are children aged 5 to 12 and teenagers aged 13 to 19. Males constitute 75 percent of the market. When Kent first started with Broadway, his task was to conduct market research on the types of games that players desired. His research showed that the market wanted more action (violence), quicker graphics, multiple levels of difficulty, and sound. Further research showed that certain tones and types of sound were more pleasing than others. As part of his research, Kent also observed people in video arcades, where he found that many became hypnotized by a game and would quickly put in quarters when told to do so. Research suggested that many target consumers exhibited the same symptoms as compulsive gamblers. Kent’s research results were well received by the company, which developed several new games using his information. The new games were instant hits with the market. In his continuing research, Kent found that the consumer’s level of intensity increased as the game’s intensity level increased. Several reports later, Kent suggested that target consumers might be willing, at strategic periods in a video game, to insert multiple coins. For example, a player who wanted to move to a higher level of difficulty would have to insert two coins; to play the final level, three coins would have to be inserted. When the idea was tested, Kent found it did increase game productivity. Kent also noticed that video games that gave positive reinforcements to the consumer, such as audio cues, were played much more frequently than others. He reported his findings to Brad, Broadway’s president, who asked Kent to apply the information to the development of new games. Kent suggested having the machines give candy to the game players when they attained specific goals. For the teen market, the company modified the idea: The machines would give back coins at certain levels during the game. Players could then use the coins at strategic levels to play a “slot-type” chance opening of the next level. By inserting an element of chance, these games generated more coin input than output, and game productivity increased dramatically. These innovations were quite successful, giving Broadway a larger share of the market and Kent a promotion to product manager. Kent’s newest assignment was the Lucky game—a fast-action scenario in which the goal was to destroy the enemy before being destroyed. Kent expanded on the slot-type game for the older market, with two additions. First, the game employed virtual reality technology, which gives the player the sensation of actually being in the game. Second, keeping in mind that most of the

teenage consumers were male, Kent incorporated a female character who, at each level, removed a piece of her clothing and taunted the player. A win at the highest level left her nude. Test market results suggested that the two additions increased profitability per game dramatically. Several weeks later, Brad asked about the Lucky project. “I think we’ve got a real problem, Brad,” Kent told him. “Maybe the nudity is a bad idea. Some people will be really upset about it.” Brad was displeased with Kent’s response. Word got around fast that the Lucky project had stalled. During dinner with his parents, Kent mentioned the Lucky project, and his dad said something that affected Kent. “You know, son, the Lucky project will bring in a great deal of revenue for Broadway, and jobs are at stake. Some of your coworkers are upset with your stand on this project. I’m not telling you what to do, but there’s more at stake here than just a video game.” The next day Kent had a meeting with Brad about Lucky. “Well,” Brad asked, “what have you decided?” Kent an...