COMMON PRACTICES IN

BUSINESS ORGANIZATION
Business Ethics and Social Responsibility
Week 3
LEARNING OBJECTIVES
1. Share observation on business
policies and practices

2. Distinguish between good

policies and morally unacceptable.

3. Craft simple “Code of Ethics” or

“Codes of Right Conduct.
ACTIVITY
Make a role play that would exhibit the common practices in
business organizations in terms of
A. Decorum
B. Protocol
C. Policies
D. Advertising
E. Marketing
F. Bookkeeping
G. Reportorial Requirements
H. Documentation
BUSINESS PRACTICES

„BusinessPractice is a method, procedure

and process, or rule employed or followed
by a company in the pursuit of its
objectives.
A. DECORUM
INTANCES WHEREIN DECORUM SHOULD BE
OBSERVED.
1. On time Promptness 12. On listening
2. On preparation 13. On Cell Phones and Laptops
3. On Agenda 14. On Business and Visiting Cards
4. On Attire and Appearance 15. On breaks
5. On Decorum 16. On Appropriate Communication
6. On basic Courtesy and Respect. 17. On Bargaining
7. On Greetings 18. On Bringing Guests
8. On Handshakes 19. On Building Relationship
9. On Body Language 20. On Business Meals
10. On Formal and Informal address 21. On Gift Giving.
11. On Speaking in Meetings.
B. PROTOCOL

Protocol means the unwritten rules or guidelines that

are peculiar to every culture or organization and are
supposed to be observed by all parties in the conduct
of business, entertaining, negotiating, politics, etc.
INTERNATIONAL BUSINESS PROTOCOL
ASPECTS RELATED TO INTERNATIONAL BUSINESS
PROTOCOL

1. Greetings and Introduction. 10. Gift Giving

2. Names and Titles 11. Tipping tips
3. Organizing Meetings 12. Business Attire
4. Punctuality and Time
5. Business cards
6. Preliminary Conversation
7. Verbal Communication
8. Non-verbal communication
9. Business Meals
EXAMPLE OF PROTOCOLS IN PHILIPPINE
BUSINESS

1. Filipino Family-Modelled Business

2. Business is Personal
3. Status-Consciousness
4. Politeness and Ambiguity
C. POLICIES
„ Business Policy defines as the scope or spheres within which decisions
can be taken by the subordinates in an organization. It permits the
lower level management to deal with the problems and issues
without consulting top level management every time for decisions.
„ Business policies are the guidelines developed by an organization to
govern its actions. They define the limits within which decisions must
be made. Business policy also deals with acquisition of resources with
which organizational goals can be achieved. Business policy is the
study of the roles and responsibilities of top level management, the
significant issues affecting organizational success and the decisions
affecting organization in long-run.
FEATURES OF BUSINESS POLICY
AN EFFECTIVE POLICY MUST HAVE FOLLOWING FEATURES

1. Specific
2. Clear
3. Reliable/Uniform
4. Appropriate
5. Simple
6. Inclusive/Comprehensive
7. Flexible
8. Stable
DIFFERENCE BETWEEN POLICY AND STRATEGY
POLICY STRATEGY
1. Policy is a blueprint of the organizational 1. Strategy is concerned with those
activities which are repetitive/routine in organizational decisions which have not
nature. been dealt/faced before in same form.
2. Policy formulation is responsibility of top 2. Strategy formulation is basically done by
level management. middle level management.
3. Policy deals with routine/daily activities 3. Strategy deals with strategic decisions.
essential for effective and efficient
running of an organization.
4. Strategy is concerned mostly with action.
4. Policy is concerned with both thought
and actions..
5. A policy is what is, or what is not done. 5. Strategy is the methodology used to
achieve a target as prescribed by a policy.
D. ADVERTISING
TYPES OF ADVERTISING
1. Newspaper
2. Magazine
3. Radio
4. Television
5. Directories
6. Outdoor and Transit
7. Direct Mail, Catalogs, and Leaflets
8. Online
E. MARKETING

Marketing refers to activities undertaken by a

company to promote the buying or selling of a
product or service. Marketing includes advertising,
selling, and delivering products to consumers or
other businesses. Some marketing is done
by affiliates on behalf of a company.
F. BOOKKEEPING
Bookkeeping is the process of recording all financials
transactions to keep track of the cash flow.

Single-entry Bookkeeping – is an accounting system under

which every transaction is recorded in a single line only.

Double-entry Bookkeeping – is an accounting system

governed by certain rules which ensure that each transaction
that takes place is reflected in two separate accounts.
G. REPORTORIAL REQUIREMENTS
Business Reporting or Enterprise reporting is “the
public reporting of operating and financial data by
a business enterprise.
Reports required by government and regulating
agencies are as follows:
1. Annual Report –is a comprehensive report on a
company’s activities throughout the preceding
year.
2. Financial Report- is a formal record of the
financial activities and position of a business,
person, or other entity.
1. ANNUAL REPORTS
Annual Reports usually includes:
a. General Corporate Information
b. Accounting Policies
c. Balance Sheet
d. Cash Flow Statement
e. Non-audited information
f. Profit and Loss Account
g. Noted to the Financial Statement
h. Chairperson’s Statement
i. Director’s report
j. Operating and Financial Review
k. Other features
l. Auditors Report.
2. FINANCIAL REPORTS
Financial Reports are as follows:
a. Balance Sheet – Statement of Financial Position
b. Income Statement – Statement of comprehensive
income, statement of revenue & expense, P&L or
profit & loss report.
c. Statement of changes in equity – equity statement
or statement of retained earnings.
A. PURPOSE OF FINANCIAL STATEMENT BY
BUSINESS ENTITY.
-is to provide information about the financial position,
performance and changes in financial position of an
enterprise that is useful to a wide range of user in making
economic decisions.
Users of the Financial Statements:
1. Owner and Managers
2. Employees
3. Prospective investors
4. Financial Institutions
B. AUDIT AND LEGAL IMPLICATIONS
C. STANDARDS AND REGULATIONS
D. INCLUSION IN ANNUAL REPORTS
H. DOCUMENTATIONS
Documentations refers to the processes and items which
serve as evidence for the validity or truth of a certain
claim or statement.
Areas in which documentation is necessary.
1. Registration to Securities and Exchange Commissions.
2. Records of number of stocks and its value.
3. Records of Assets, Liabilities and other similar
information under Balance Sheet.
4. Financial Statement to provide investors information
about the company’s financial heath.
K. WHY CODE OF ETHICS IMPORTANT
A code of ethics is a guide of principles designed to
help professionals conduct business honestly and
with integrity.

A code of conduct is a set of organizational rules or

standards that describe a business' values, beliefs,
and ethical standards to which the business and its
employees must adhere.
L. SAMPLE CODE ETHICS
„ Our Code of Business Ethics builds on our core values by providing
greater detail about expected behaviors and drives our culture of
compliance, ethical conduct and accountability.
„ It starts with a simple proposition—we always act with integrity and
we always act in compliance with the law. Besides being the right
thing to do and protecting Accenture, acting with integrity and in
compliance with laws improves our performance and reflects on
our character as a business—to our clients, our business partners
and the public at large— and enables us to attract and retain top
talent.
„ That’s the Accenture Way.
ACCENTURE CORE VALUES
„ Our 6 enduring core values—Client Value Creation, One Global Network, Respect for the
Individual, Best People, Integrity and Stewardship—shape the culture and define the
character of Accenture. They serve as a foundation in how we act and make decisions.
„ • Client Value Creation - Enabling clients to become high-performance businesses and
creating long-term relationships by being responsive and relevant and by consistently
delivering value.
„ • One Global Network - Leveraging the power of global insight, relationships, collaboration
and learning to deliver exceptional service to clients wherever they do business.
„ • Respect for the Individual - Valuing diversity and unique contributions, fostering a trusting,
open and inclusive environment and treating each person in a manner that reflects
Accenture’s values.
„ • Best People - Attracting, developing and retaining the best talent for our business,
challenging our people, demonstrating a “can-do” attitude and fostering a collaborative
and mutually supportive environment.
„ • Integrity - Being ethically unyielding and honest and inspiring trust by saying what we
mean, matching our behaviors to our words and taking responsibility for our actions.
„ • Stewardship - Fulfilling our obligation of building a better, stronger and more durable
company for future generations, protecting the Accenture brand, meeting our
commitments to stakeholders, acting with an owner mentality, developing our people and
helping improve communities and the global environment.