CHAPTER 4 Flashcards
Is a branch of philosophy that prescribes and guides acceptable human conduct. Is the study of morality(examines what is morally right or wrong). _____ is what guides us to tell the truth, keep our promises, or help someone in need.
Ethics
Rules and principles, and standards of deciding what is morally right or wrong when working. It refers to the implementation of appropriate business practices and policies in the workplace it is the study of ethics with a particular focus on business.
Business Ethics
Importance of Business Ethics
• Avoid legal and regulatory problem
• Attracts and retains a strong customer base
• Maintains a talented workforce
• Payoff in steady or increased revenues
• Increase trust in products and services
• Brand recognition and growth
is simply a situation, a problem, or even an opportunity that requires thought, discussion, or investigation to make a decision.
Ethical Issue
Is a repeated, unwanted behavior of a sexual nature perpetrated upon inn individual by another.
Sexual Harassment
Three Types of Sexual Harassment
Physical
Vernal
Non Verbal
Types of Wages
• Just Wage
• Family Wage
• Living Wages
• Minimum Wage
• Real Wages
• Nominal Wages
is defined as the remuneration which is enough to support the wage-earner in reasonable and frugal comfort.
“a ______ is the legitimate fruit of labor”. _______ as an amount needed to support a thrifty and upright worker plus his family, and prescribed that it must be sufficient enough to allow the worker to save and acquire property of his own.( Pope Leo XIII)
Just Wage
The amount of money that the worker needs to provide for the needs of the family.
Family Wage
Minimum hourly wage necessary for a person to achieve some specific standard of living.
The goal of a _____ is too allow employees to earn enough income for a satisfactory standard of living and to prevent them from failing into poverty.
Living Wages
Minimum rate of a worker can legally be paid as set by the statute or government.
Minimum Wage
Measured in terms of actual purchasing power (Inflation).
______ show the value of wages adjusted for inflation
Real Wages
Measured in terms of money paid, not purchasing power.
A _________ is the rate of the employees are compensated.
Nominal Wage
Workers are entitled to the living wages
REPUBLIC ACT 6727 WAGE RATIONALIZATION ACT OF 1989
Factors to Consider in the formulation of fair wage
- External Market Factors
- Laws and Regulations
- Cost of Living
- Prevailing Industry Rate
- Organizational Factors
- Job Factors
- Individual Performances