1. Why is there a need to improve business ethics?

 There is a need to improve business ethics because as time passes by there are new
ethical issues arising that business ethics before didn’t address. When there is
improvement in business ethics it just aims to help maintain a great reputation, help
avoid significant financial or legal issues and they ultimately benefit everyone involved.
2. What is nature of the “ Integrity Initiative Movement” led by the Makati Business Club and the
European Chamber of Commerce of the Philippines?
 The Integrity Initiative is a multi-sectoral campaign that seeks to institutionalize
integrity standards among various sectors of society-business, government, judiciary,
academe, youth, civil, society, church and media. It aims to help in diminishing , if not
fully eradicating , the vicious life but also obstructed the development of a competitive
business environment that operates on a level playing field. It hopes to build trust in
government, a more equitable society and fair market conditions.
3. Why should business organization adopt a Code of Conduct?
 Business organization a code of conduct to : (1) guide directors and senior executives as
a minimum, as to the practices necessary to maintain confidence in the organization’s
integrity. Other member of staff should also have a code of conduct relevant to them
which may be the same as that for the directors and senior executives or may
complementary versions;(2) promote responsibility and accountability of individuals for
reporting and investigating reports of unethical practices and ;(3) ensure compliance
with legal and other obligations to legitimate stakeholders.
4. What are the purpose of the “Unified Code of the Conduct of Business” as prepared by the
Integrity Initiative Movement?
 The codes purpose: (1) to harmonize existing ethical standards among business
operating in the Philippines . it ensures that market players adhere to the same rules of
the game in order to create fair market conditions and promote transparency in doing
business and (2) to formally communicates the signatories’ commitment to upholding
the high standards of ethics in all business transactions . it articulates the belief that
securing profit at the expense of integrity is unacceptable and unsustainable way of
conducting business and that measures have taken to enforce and cultivate integrity
habits within the signatories’ respective organizations.
5. The Bishops-Businessmen’s Conference Philippines adopted the “ Code of the Ethics for the
Philippines Business”. Name at least three rationales for its adoption.
 Three reasons why Codes of Ethics for Philippines Business is adopted : (1) The code
seeks to express systematically and coherently the principles of business practices
accepted and professed by Philippine business as its best, and seeks to apply to current
and changing needs;(2) it was hoped that this code will serve as a general stimulus to
renew and develop or amend existing standards , and that individual entities will expand
and adopt it to the specific needs of their organizations and ; (3) it is general code
intended to be influential rather than coercive . It is hoped that entities will consciously
adopt and embrace it as a statement of principle .
Multiple choice answers :

1. C

2. A

3.C