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Philosophy came from two Greek words “philos” – love and “sophia” – wisdom = “love of wisdom”
- It is a science that seeks to explain the ultimate cause of everything by the use of human reason alone.
2 Types of Philosophy
Theoretical or Speculative Philosophy – studies the truth to be known.
o Cosmology
o Ontology
o Metaphysics
o Psychology
o Theodicy
o Epistemology
Practical Philosophy – studies truths to be acted upon.
o Semantics
o Axiology
o Aesthetics
o Logic
o Ethics – is a science that studies the morality of human acts with reference to right and wrong.
2 Ethical Systems
Atheistic Ethics – assumes that only matter exists and man is responsible only to himself since there is no God who creates
and rules the universe.
Theistic Ethics – assumes that God is the Supreme Law giver. Man is accountable for his actions and deserves either a
reward or punishment in this life or the next.
Traditional Ethics – believes that man has a natural insight to morality, a gift of the Creator who gave man a “moral sense”. Man,
therefore, is a moral being. The basic knowledge of right and wrong is what differentiates man from animals.
3 theories that attempt to explain the fundamental question of how people develop their concept of morality.
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ETHICAL ISSUES AND PROBLEMS IN BUSINESS AND THE CORPORATE WORLD
1. Sexual Harassment – this occurs due to the power struggle between men and women as a response to a real or imagined
loss of power.
Anti-sexual Act of 1995 or RA 7877 – declared sexual harassment unlawful in the employment, education or
training environment, and other purposes.
2 types of Harassment:
Quid Pro Quo Harassment
Harassment that creates a hostile environment
2. Just Wage
Work is said to be the purpose of obtaining economic gain for the laborer. Being compensated for a work
done or services rendered is part of the essence of ‘work’.
“That the workers are entitled to a living wage.” – 1987 Philippine Constitution rights of workers letter Article XIII, Sec. 3, letter “g”
Factors to consider in Formulation of Fair Wages: external market factors, laws and regulation, cost of living, prevailing industry
rate, organizational factors, job factors, and individual performance.
RA 7394, Article 108 declares that “The State shall protect the consumer from misleading advertisements and
fraudulent sales promotion practices.”
5. Workplace Romance
It is defined as a romantic relationship between two people who are employed by the same organization.
Disadvantages: damaged professional reputations, disturbed co-workers, changes in productivity, dating the boss,
extramarital affairs.
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Workers go on strike for different reasons: for higher compensation, to improve the workplace, for shorter working
days, to stop their wages from going down, for more benefits, & because they think their company has been unfair.
10. Whistleblowing
It is the disclosure by an employee of confidential information which relate to some danger , fraud, or other illegal
or unethical conduct connected with the workplace, be it the employer or of his fellow employee.
Fair competition is doing business under ethical rules of conduct, behavior and judgment, attaining success in
business through the merits of its products and services.
Unfair competition consists of:
Deceptive trade practices
Business interference to competitors
Anti-competitive market practices
Defamation of a competitor
Caveat emptor
Violation of intellectual property right
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