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    Lesson1 Nature and Forms of Business Organizations

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    Marykay Bermeo
    Here are brief answers to the questions: 1. A corporation is less prone to commit unethical behavior because it is closely monitored by government agencies and has to comply with more legal requirements compared to sole proprietorships and partnerships. However, unethical behavior can still occur at any level of a business organization. 2. An example of a sole proprietor not acting morally would be if the owner was selling defective products to customers without disclosing the defects. This would be considered immoral because customers are being deceived and could potentially be harmed by using defective products. 3. Business ethics is defined at different levels - macro level refers to how business and government should ethically deliver benefits to society; corporate level is

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    Lesson1 Nature and Forms of Business Organizations

    Uploaded by

    Marykay Bermeo
    996 views15 pages
    Here are brief answers to the questions: 1. A corporation is less prone to commit unethical behavior because it is closely monitored by government agencies and has to comply with more legal requirements compared to sole proprietorships and partnerships. However, unethical behavior can still occur at any level of a business organization. 2. An example of a sole proprietor not acting morally would be if the owner was selling defective products to customers without disclosing the defects. This would be considered immoral because customers are being deceived and could potentially be harmed by using defective products. 3. Business ethics is defined at different levels - macro level refers to how business and government should ethically deliver benefits to society; corporate level is

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    Here are brief answers to the questions: 1. A corporation is less prone to commit unethical behavior because it is closely monitored by government agencies and has to comply with more legal requirements compared to sole proprietorships and partnerships. However, unethical behavior can still occur at any level of a business organization. 2. An example of a sole proprietor not acting morally would be if the owner was selling defective products to customers without disclosing the defects. This would be considered immoral because customers are being deceived and could potentially be harmed by using defective products. 3. Business ethics is defined at different levels - macro level refers to how business and government should ethically deliver benefits to society; corporate level is

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    996 views15 pages

    Lesson1 Nature and Forms of Business Organizations

    Uploaded by

    Marykay Bermeo
    Here are brief answers to the questions: 1. A corporation is less prone to commit unethical behavior because it is closely monitored by government agencies and has to comply with more legal requirements compared to sole proprietorships and partnerships. However, unethical behavior can still occur at any level of a business organization. 2. An example of a sole proprietor not acting morally would be if the owner was selling defective products to customers without disclosing the defects. This would be considered immoral because customers are being deceived and could potentially be harmed by using defective products. 3. Business ethics is defined at different levels - macro level refers to how business and government should ethically deliver benefits to society; corporate level is

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 15

    Nature and Forms of

    Business Organizations
     Is defined as the practice of what is morally and
    ethically right in the conduct of business in the
    workplace. It is essentially doing what is right in
    any business transaction. All members of the
    organization, from top management down the
    Business line, should practice ethical standards that will
    morally uphold the organization and sustain its
    Ethics credibility and integrity at all times.
    • Macro. It clearly defines the crucial role of business
    and reinforces the role of the government in the
    delivery of benefits to its people in a morally upright
    and ethical manner. Each society has code of
    conduct which specifies how a business activity is
    Levels of carried out, guided by national and international
    Business ethical standards.
    Ethics • Corporate. The corporate level in ethics represents
    how each company interprets the rules and
    standards of the industry.
    • Individual. The individual level in ethics is the
    employee’s own moral principles which guide his/her
    life.
    Sole Proprietorship
     Managed by just one person who handles all
    the activities on a day-to-day basis.
     Own all the assets including the profits of the
    company.
    Forms of  Sole Proprietors are also morally responsible
    Business for the conduct of all business activities .
    Organization
     Sole Proprietorship (Advantages)
     Easy to organize and inexpensive to put up.
    Forms of  Freedom to make their own decisions and
    Business have complete control of the business.
    Organization  No one can prevent the proprietors if they
    want to close the business.
     Sole Proprietorship (Disadvantages)
     The liabilities of a small business like sole
    proprietorship can affect the credit
    Forms of standing of the sole proprietors, resulting in
    Business difficulties in obtaining additional capital.
    Organization  Small business may mean small profit.
     Employees with excellent qualifications are
    not attracted to small firms and they
    usually apply in big companies.
    Partnership
     Is a form of business
    organization where two or
    members share in the business.
    Forms of  Partners mutually agree on how
    Business profits will be shared and how
    Organization business will be conducted.
     Partners also agree on how
    disputes will be resolved legally
    and how additional partners will
    be admitted.
    Partnership (Advantages)
    Easy to put up and raise funds.
    Forms of
    It is also attractive to potential
    Business partners because of the profits
    Organization shared and the incentive of
    becoming a partner.
     Partnership (Disadvantages)
    Forms of  Partners are jointly liable for all the debts
    Business and obligations of the partners.
    Organization  Have a limited life.
    Corporation
     Has a distinct personality separate from its owners.
     It enjoys certain rights and privileges just like an
    ordinary individual.
    Forms of  It can enter into contracts, loan and borrow money,
    Business sue and be sued, hire employees, and pay taxes.
    Organization  It has a life of its own and does not dissolve upon
    the death or withdrawal of a shareholder.
     Corporation (Advantages)
     Shareholders have limited liability.

     Corporation (Disadvantages)
    Forms of  Closely monitored by the government and
    Business other agencies like the Securities and Exchange
    Organization Commission and therefore requires more
    paperwork to comply with permits and other
    legal requirements.
     Corporations are subject to tax.
    The Role of
    Business in
    Society To create wealth.
    To meet the needs of the
    people.
    Thank you for
    listening! 
    Identify the following terms.
    1.A form of business organization intended for small businesses
    and is usually managed by one person, the owner.
    2.This level is characterized by the employee’s own moral
    principles that guide his/her life.

    QUIZ 3.Form of business organization which has a distinct personality


    separate from its owners.
    4.A form of business organization which has two or more
    members share in the business.
    5.This level in ethics represents how each company interprets the
    rules and standards of the industry where it operates.
    Answer the questions briefly.
    1.Which form of business organization is less prone to
    commit unethical behaviour? Why or why not?
    2.Cite an instance when a sole proprietor is not acting
    morally. Why do you think were his/her actions
    immoral?
    3.How is business ethics defined based on its different
    levels.

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