Lesson 4 - Business Code of Ethics

Question 1

more often than not, provide in an orderly
fashion, the standards of a given industry both for its employers and for the public.

Answer 1

Business code of ethics

Question 2

Business codes intended to develop and maintain good employer-employee relations usually tell about the observance of the following:

Answer 2

1. Adequate pay for the employees.
2. Opportunity for advancement (e.g., promotions and career fulfillment)
3. Recognition for good work
4. Reasonable security and safety in the workplace

Question 3

that is formulated primarily for the purpose of governing the business activities of an industry, usually tells about the ideal relationship of the industry to the public.

Answer 3

business code

Question 4

the following is an example of a business code which has been formulated and adopted by the Philippine Association of National Advertisers (PANA), entitled “A Statement of
Advertising Principles” (Miranda, 2000)

Answer 4

1. recognizes both its economic and social responsibility to help reduce distribution costs and to serve public interest.
2. depends for its success on public confidence.
3. aims to inform the consumer and helps him buy intelligently.
4. tells that the truth is accurate, honest and trustworthy.
5. conforms not only to the laws, but also to the generally-accepted
   standards of good taste and decency and to the moral and aesthetic sentiments of the
   country.
6. seeks public acceptance on the basis of positive and constructive statements made on the merits of the product or service advertised, rather than by disparagement of competition.
7. does not allow any activity which involves the exploitation of the goodwill
   attached to any other firm, or product, or service.
8. helps enhance the dignity of the individual and contributes to the building of a civilized society.

Question 5

(PANA) means

Answer 5

Philippine Association of National Advertisers

Question 6

Business Code towards the customer, business shall, in the production of goods and services:

Answer 6

1. Strive after a quality that will enable them to serve their purpose efficiently and effectively.
2. Avoid anything detrimental to the health, safety or growth of the proper user or beneficiary
   of such goods and services.
3. Seek to apply or make use of the discoveries and inventions of science with adaptions that will improve their products or services, thereby benefiting customers and users and
   increasing their number.

Question 7

Business Code In its marketing arrangement, business shall:

Answer 7

1. Deliver the product or service in the quality, quantity, and time agreed upon, and at a
   reasonable price, and avoid the creation of artificial shortages, price manipulation, and
   like practices.
2. Establish an after-sales and complaints service commensurate to the kind of product or
   service supplied and the prices paid.
3. Ensure that all mass media, promotional and package communications be informative and
   true, and take into account the precepts of morality and the sound cultural values of the
   community, manifest respect for human dignity.

Question 8

The primary goal of business is ???

Answer 8

profit not moral excellence