Business Ethics Is Not An Oxymoron by Dexter Calma
Ateneo Graduate School of Business
Business, in a very simplified definition, describes an exchange of something for another. In this context, it can be implied that there is a fiduciary understanding that the parties involved receive goods or services that are of equal value according to the appraisal system that they have agreed upon, whether it is based on units of measurement, or just mere goodwill. Thus, ethical standards that are applied in business should be in correspondence to expected moral behaviors of society, a basic equation of interdependence.
The understanding of this basic equation has been very evident to a vast majority of well known business people, among which
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There was no proper segregation of duties, thus, risk was too high. This team is involved in reconciliations of custody books with the figures posted in the accounting books. Whenever there are discrepancies, there was no other team to look on it and account for it properly, making the same team that saw the variance responsible for booking it. There were high volumes of work done by the team that was supposedly done by three different teams. In this situation, team members were forced to skip meals and breaks so that they would not incur too much overtime because everyone wants to go home and rest as early as possible. Each of them had minimum overtimes of three hours a day. Their work was really toxic, and it was ongoing for a long time, with the management demanding more from them. The issue was well known within the organization. Management wanted the team to be more efficient and enforced tight policies with employee scorecards so that the employees would be forced to reduce their overtime hours, because the management saw that it was costing them a lot. Because of this, the team members forced themselves more just to have good employee scorecards, hoping that things will be better eventually. But it was not happening to them. As it went on that was, health issues came with the operations. At one time, one of them had to take a month-long leave because she was scheduled for a medical operation due to