Ethical Principles in Business

What is ethics? We know that ethics is a moral standards of society on how we should act toward the people. In business, ethics is a moral standards applied to business policies, institutions and behavior. How can ethics help good business perform better? Good Ethics is Good Business. Companies with strong business ethics programs have positively affect their employees’ commitment to work and enhance customer loyal. They maintain a higher degree of stakeholder satisfaction and positively financial results.

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In our discussion, Merck & Co., Inc., the leading pharmaceutical company in US spends a lot of its resources to discover cure on river blindness. The company realized that majority would not be able to afford the cost of medicine. In spite of this, Merck’s continue its ethical practice to complete the final product and decided to give the medicine away for free to victims of the disease. A large and very successful business seems to have chosen ethics over profits. Not all companies operate like Merck. Most likely, companies will not invest in a research and development project that will probably be unprofitable. Good ethics and social responsibility are usually guided by moral values that point them in an ethical direction. I hope that all businessman and future leaders of corporations will learn in this lesson.

“Never Forget, Medicine is for the People, not for the Profits” – George Merck

The Ford Pinto Case (Business Ethics)

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Ford Motor Company, one of the most prominent cars in US launch the light vehicle Ford Pinto in order to compete with other sub-compact cars. The newly designed cars consist of poor designs; the location of the gas tank at the rear that cause them to explode if hit from behind by another vehicle. Despite the knowledge, Ford has decided to inform the public but failed to recall the cars which will prevent future accident.

In the late 1990’s Ford found themselves to another controversy, cases of Ford Pintos exploding in the highways and killing Americans. An estimated 500 people died in rear-end collisions involving Pintos. The impact was Ford spend millions of dollars to settle the issues.

In my opinion, the decision of Ford to launch Pinto cars and proceed with its production despite the knowledge of the danger it may bring to the passengers is not in accordance with their vision in providing products and services that meet the need of its customers. Ford should think first, the safety of their customers than maximizing profits. Also, Ford should disclosed to the consumers of their full knowledge about Ford Pinto.

        

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Career and Life Planning

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Why do we need a life plan? Life Plan will give us clarity and awareness of all the changes that we will need to be made.

In my journey, life planning can be crucial in many aspects of my life. It can be the key for achieving success or failure. I’ve learned in our corporate social responsibility that to have a good plan I should have a clear goal and contingency plan (back-up plan) in the event that my plan failed. In setting my goals, I should consider what I want to achieve in my lifetime and express my goals positively.

One of my plan is to finish my MBA by 2017. But aside from planning, I always pray and ask for GOD’s help so I can finish my MBA. And may GOD help me for whatever plan/decision I made in this life.

Suze Orman's Laws of Money and Life Lessons

I watched the video presented by Suze Orman. It’s about the laws of money and the lessons of life. The law of money is to keep what you have and the lessons of life is to create what you deserve. To be financially successful in this life, I can use the five laws wherever I go.

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The following are the Law of Suze Orman’s secrets for financial:

Law #1 Truth create money, Lies Destroy It.

Truth is a path that lead you wherever you go. A lie is a path as well, a path to your financial destruction. What will you choose? Path of telling the truth or the path of telling the lie. Truth makes you feel powerful. When you are powerful, you can make the right decision. Like when buying something that you can’t afford. Ask yourself if you can buy it or not? If you can’t afford to buy it, don’t buy it. Be honest to yourself that you can’t afford to buy it. Live within or below your means rather than allowing yourself to get into bad debt. Always remember that people will like you for who you are and not for what you are. I learned that when buying something, I should not insist what I can’t afford to buy so that I won’t have bad debt. I can wait until I have money or just don’t buy it at all.

Law #2 Look at what you have, not at what you had.

You should be living in the present and using your past mistakes as a lesson. You should look forward and don’t look back. Be sure to focus on what you have now and work with that so that you can move forward and be successful. You have to keep moving forward and see the things you can do with your current finances to be successful. Avoid living regrets from the past. I learned that I should keep moving forward and accomplish something today; and make my past mistakes as my life lesson.

Law #3 Do what is right for you before you do what is right for your money.

Know what is right to you in particular situation. How those investment makes you feel? Ask yourself and use below financial fear factor scale.

1. No fear at all – keep everything

2. Not sure it just fine – sell 25%

3. Little bit confuse – sell 50%

4. Certainly afraid – sell 75%

5. It keeps you up every single night – sell everything

You should put yourself above all when making financial decisions. Don’t let money ever be in control of you. Money is supposed to give you more freedom, make you feel more secure, and help you take control over your life. Don’t let money ever be in control of you. Make sure that you are in control of your money. In my case, I will immediately sell some of my stocks and check out other opportunities for long term investment.

Law #4 Invest In the known before the unknown

Guidelines for 2 known events of your life.

1)    Your death

2)    Your retirement

Get out of debt and save for 8 months emergency fund that will tackle the unknown. Maintain your credit card just in case there will be an emergency. The key of investing is to know how much time to invest. Make sure you have got all your necessities covered. Save for emergencies and do not neglect your need to save for your future retirement. Make sure you are also saving an adequate amount for the known needs such as shelter, food and clothing. Once these known needs are covered, then, and only then, you should be willing to focus on extra things. This is my favorite law, invest for my retirement. Since we can't predict the future, I invest to avoid going into debt and I can pay for what I need.

Law #5 Always Remember, Money has no power of its own

It’s about realizing that money doesn’t do anything by itself. Money won’t define you. Be powerful on your life. Look within yourself. Money is very strange if isn’t use correctly, it can teach you hardship in life. Never let yourself believe that having more money will give you more power or that having less will leave you powerless. Remember your priorities in life, people first, money then things.

According to Suze, the life lesson learned, when we entered this world, we all entered with two wings. One wing is the wing of grace and the wing of self-effort.

I have learned that I should be truth to myself. Telling the truth about myself and my money is the only way to keep what I have and create what I deserve. I can help my money grow by investing it properly.

 

Getting Started - Service Learning

One of CSR requirement is to have a service learning. What is service learning? Why do we need to have a service learning? Service learning is a teaching and learning strategy that integrates meaningful community service with instruction and reflection to enrich the learning experience, teach civic responsibility and strengthen communities. We need to have a service learning to have an actual experience so we may know what’s happening in our communities.

For me, service learning will help me to improve my social responsibility and citizenship skills.

We choose our group and after our class in CSR, our group discussed where and what we will do in our service learning. Before we suggest, we think first how we can help the community. As a group, we should have common interest and it should be sustainable for the community.

Here are some of our ideas for implementation:       

Gawad Kalinga

·     Teach kids about English(Adarna Books)

·     1^st year: donated 80books

FOR PARENTS & KIDS (San Juan/Pasig)

- Parenting Seminar/Something for the parents (Eg. Rags to riches)
- Financial Literacy to Parents (3.0 hrs) - House saving tips, etc
- Kids: Christmas Party (3.0 hrs) /Story telling/Puppet Show/Film Showing/Mini tournament 

Tree Planting

Employment programs

·     Dress code

·     How to tips on getting that job

·     Possible interview questions

·     Proper etiquette

·     How to carry yourself

Literacy Programs

·     How to save/invest

For now, these are some our ideas and by next week we need to select the place and the activities for our service learning. I am so excited to do our service learning.  ^_^

Image Credit: http://blogs.volstate.edu/servicelearningclub/files/2011/01/Untitled-1logo.jpg

Reference:

http://www.uncfsu.edu/civic-engagement/service-learning/definition-of-service-learning

Balancing Family, Faith and Work

Work is something you make or do. Work is necessary and it provides a person the necessary income to meet the basic living needs. It also gives people a feeling of accomplishing the activities that contribute to society. But do you have a work-life balance?

In the book, “Balancing your Family, Faith and Work” by Pat Gelsinger, his story inspired me. He narrated his life from growing up from the farm, studying, working, meeting his wife and attending the church. He was working in a leading company while pursuing his college, masters and doctorate degree. He describe his life as a person juggling three balls. Those balls represents GOD, Family and Work. He got no opportunity to pause, rest, or take a break. If he tried for a split second, one or more of the balls would go tumbling to the ground. But as he said, he will never really finish with a ball. Just prioritize and spend some time working/helping/doing with it and send if off to catch the next.

We spent most of our time working while neglecting the time to our family and especially to our almighty GOD. Though there was a time when I prioritize my work and career. But I realize that I neglect the things that I cherish most, especially the time when my mother was still alive.

Everyone is different and has different priorities. I should learn how to organize and plan my time to increase efficiency on setting my priorities. To have a better work life balance I should first plan my schedule ahead; understanding what’s important and what can wait.

We are all passion in our work that we forget our life. At the end of the day, there’s no rule that says you must be workaholic in order to make a good worker or to have a good life.

Remember that GOD created us to love and serve him. We must prioritize GOD first and should be the number one commitment you make to yourself. We must praise and glorify him.

Matthew 6:33 says, “Seek first his kingdom and his righteousness, and all of these things will be given to you as well” 

                                                                                                                           

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Reflecting our Values

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Each one of us have different values. But what are values? As defined in business dictionary, it is important and lasting beliefs or ideals shared by the members of a culture about what is good or bad and desirable or undesirable. Values have major influence on a person’s behavior and attitude and serve as broad guidelines in all situations. A person’s values may change people’s act and behavior. Parents, religion, education, social institution and technology are some of the influences.

  

I am grateful to De La Salle University, they are training us to become a good person and leader. If you want to understand a person’s behavior, you must understand his/her values. Values form the foundation of our life and one of the most important factor when having relationship with people. My values influences my decisions in related to my relationships, career and other activities I engage in.

I face tough decisions everyday but I must not forget that my values will influence my decisions, I can see whether those values contribute to my dissatisfaction or bring happiness.

”Keep your values positive because your values become your destiny” – Mahatma Gandhi

Reference:   http://www.businessdictionary.com/definition/values.html

Knowing St. John Baptist De La Salle

I graduated from different institution and as MBA in De La Salle University, I’m curious to know, who is St. John Baptist de La Salle? What are his achievements? What kind of life did he take?

In the movie entitled “Who Are My Own” that was shared to us, I was touched and learned the good qualities of St. John Baptist de La Salle and that’s why he was characterized as risk taker, innovator, servant-leader and mentor. Some opposed to his teaching but still he dedicated his life to spread his advocacy.

Risk-Taker

St. John Baptist De La Salle became involved in reaching out, he gave up his wealth just to continue his advocacy to help the less fortunate. As a Lasallian Business Leader, I viewed life as a constant learning journey and I learned how important to share my time and talents especially to those people who are in need.

Innovator

St. John Baptist De La Salle introduced the new method in teaching by classroom education and he knows what to do to implement the effective learning. As a Lasallian Business Leader, leadership is the ability to make wise decision and to innovate is to welcome the adaptive change. I should bring new ideas for process improvement and share it with others.

Servant-Leader

St. John Baptist De La Salle shows that he practice what he preach. He showed compassion and love to his fellow brothers. As a Lasallian Business Leader, I should be compassionate and learn how to serve others.

Mentor

St. John Baptist De La Salle serves as an inspiration. He was a great mentor to his students and fellow brothers. He teach not only the students but also his fellow brothers on how to handle the students. As a Lasallian Business Leader, I can share my talent and be a good inspiration to motivate and serve others.

St. John Baptist De La Salle life story is an inspiration and it encourage not only me but also other people, especially to those people who are less fortunate.

“Real wealth is the ability to think and to feel. Not to be possessed by possession. To give, to receive, to reason, to share. Children know these. There is no class distinction among them. If I can open their mind, and let the sun enter in. If enough of us can do this. If we can reach beyond the boundaries mark; rich and poor; if we can open their mind with this light, the world would become a brighter place, closer to peace, closer to human fraternity” – St John Baptist De La Salle

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