BUSINESS ETHICS - Q4 - Mod1 Responsibilities and Accountabilities of Entrepreneurs
BUSINESS ETHICS - Q4 - Mod1 Responsibilities and Accountabilities of Entrepreneurs
Quarter 4 – Module 1:
Responsibilities and
Accountabilities of
Entrepreneurs
Business Ethics and Social Responsibility – Grade 12
Alternative Delivery Mode
Quarter 4 – Module 1: Responsibilities and Accountabilities of Entrepreneurs
First Edition, 2021
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Team Leaders:
School Head : Carlito M. Pontillas
LRMDS Coordinator : Annie Rose C. Rosales
Each SLM is composed of different parts. Each part shall guide you step-by-
step as you discover and understand the lesson prepared for you.
In addition to the material in the main text, notes to the Teacher are also
provided to our facilitators and parents for strategies and reminders on how they can
best help you on your home-based learning.
Please use this module with care. Do not put unnecessary marks on any part
of this SLM. Use a separate sheet of paper in answering the exercises and tests. And
read the instructions carefully before performing each task.
If you have any questions in using this SLM or any difficulty in answering the
tasks in this module, do not hesitate to consult your teacher or facilitator.
Thank you.
What I Need to Know
This module was designed and written to give you knowledge on the
competency of responsibilities and accountabilities of entrepreneurs. When you plan
to be an entrepreneur someday, this module will give you a deep understanding on
the importance of the aforementioned subject matter, especially when you will be
exposed to the field of business.
At the end of the lesson, the learners are expected to appreciate entrepreneur’s
responsibilities to stakeholders and to demonstrate understanding on social
responsibilities of the entrepreneurs: (ABM_ESR12-IVi-1-3.1)
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What I Know
Directions: Read each statement. Choose the letter of the correct answer and write it
on a separate sheet of paper.
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10. This includes upgrading personal and professional development and enhancing
new knowledge and skills of the employees.
a. education, trainings, and seminars c. payment of wages and taxes
b. safety working condition d. management of performance
11.This responsibility explains that one must maintain loyal and must have trust
with one another.
a. responsibility to the employees c. responsibility to the government
b. responsibility to the customers d. responsibility to the suppliers
12. This responsibility explains that an entrepreneur should adhere to fair labor
laws in hiring employees.
a. responsibility to the customers c. responsibility to the stakeholders
b. responsibility to the employees d. responsibility to the creditors
13. This responsibility advises that an entrepreneur should not correct government
and join anti-social purposes.
a. responsibility to the employees c. responsibility to the stakeholders
b. responsibility to the government d. responsibility to the customers
14. This responsibility advises that an entrepreneur should pay loan and interest
religiously according to the repayment condition.
a. responsibility to the customers c. responsibility to the employees
b. responsibility to the creditors d. responsibility to the government
15. This responsibility advises that an entrepreneur should provide security of
employment.
a. responsibility to the customers c. responsibility to the creditors
b. responsibility to the employees d. responsibility to the stakeholders
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Lesson Responsibilities and
1 Accountabilities of
Entrepreneurs
Business Ethics
Responsibility
https://cdn.pixabay.com/phot
Responsibility refers to the duty or
o/2017/03/02/07/36/ethics-
2110621_1280.jpg obligation to satisfactorily perform or complete
a task that is assigned by someone or created
Accountability
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What’s In
What’s New
Directions: Read and analyze the words in column A. Choose the best
description in Column B that perfectly fits the words presented in Column A.
Write on a separate sheet of paper the letter of your choice.
Column A Column B
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8. environment h. education and training of employees
progress
What is It
Responsibility to
the employees
Responsibility to Responsibility to
the government the customers
Entrepreneur
Responsibility to Responsibility to
the suppliers the stakeholders
Responsibility to
the creditors
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source: https://www.goodreads.com/book/show/44316386-start-with-your-people
Payment Compliance of
of Taxes Government
Rules
ENTREPRENEUR
Cooperating with
Government for
Economic
Development
They must not accept antisocial activities with a political party or person
during election. The businesspeople must cooperate with the government for
economic development.
Supplier Entrepreneur
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The role of the supplier to the entrepreneur is very important for any business.
They supply raw materials, machinery, and labor. With that, they must pay fair
prices of goods and pay on time. They should inform suppliers of future development
and changes in the demand of commodities.
Bank
Credit Unions
scholarship grants to the children of the employees. They should also promote
good public relations to understand the feelings and opinions of common people.
What’s More
Directions: Read the statement carefully. Write on a separate sheet of paper the
corresponding answer provided in the Phrase Pool.
PHRASE POOL
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1. Entrepreneurs must also make employees aware of areas in their business
that have a high risk for injury and train their employees in safety procedures
to minimize the risk of injury.
2. Business operations are interrelated with a wide range of people and societies
throughout the world. They should implement and enforce a code of conduct
that fosters respect for human rights.
3. Provide a human resources development system like the ones that supports
the careers of employees, a self-development support program, and transfer
opportunities for willing employees.
4. Acquisition of new knowledge and skills through the professional and personal
development of employees is a prerequisite and a guarantee of business
success.
5. "What gets measured gets done" is an expression you will often hear when
talking about performance management and the simple meaning behind this
statement is the key to our philosophy of rewarding and managing
performance.
6. Reward employees fairly and attractively, in line with the prevailing conditions
on the local market. Gather data from the labor market on a regular basis.
Ensuring that reward structures remain competitive.
8. When injuries occur though not the fault of their employees, it's their
responsibility to file a claim with their workers' compensation insurance
provider. Businesses must treat their injured employee with respect and file
the claim without attempting to cause a delay in processing or attempt to deter
the worker from filing a claim at all.
9. They are very important in every business. They supply raw materials,
machinery, labor and other materials.
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What I Have Learned
What I Can Do
Let us check on how you will apply the lesson! Compose your own essay
containing at least 2-3 paragraphs. Write your answer in one whole sheet of paper.
You will be graded based on the given rubric.
Write the essay nicely and it has appropriate content related to the
5
topic
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4 Correct and appropriate but lack of neatness
2 Incomplete work
Assessment
Direction: Read each statement carefully. Choose the letter of the correct answer.
Write your answer on a separate sheet of paper.
1. The following defines entrepreneurship, except __________.
a. buying an existing, successful business
b. working part-time
c. having an idea and taking risks to start a new business
d. giving wages to its employees
2. ______________is a good reason why not everyone wants to be an entrepreneur.
a. Economic development
b. Increase in capital
c. Improves community
d. Lack of experience and expertise
3. The following are social responsibility and accountability towards the local
community or public, except _______________.
a. saving the environment
b. establishing public utilities
c. providing employment
d. regulating sanitary ordinance
4. The following are social responsibility and accountability towards government,
except _______________.
a. payment of taxes
b. compliance of rules and laws
c. seeking political patronage
d. cooperating for economic development
5. The following are social responsibility and accountability towards employees,
except _______________.
a. holding benefit grants
b. securing employment
c. providing convenient workplace
d. assignment of right job
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6. An entrepreneur does the following, except ____________.
a. manages a business for someone else
b. owns controlling interest in the stock of a major corporation
c. manages a business that operates in more than one country
d. accepts the risk of starting and running a business
7. The primary focus in managing a business should likely be ___________.
a. human relations and accounting
b. financing and planning
c. marketing and public relations
d. charity and community service
8. A well-defined service conditions that will inspire the employees to higher
quality work are the following, except ___________.
a. promotion
b. appointments
c. contractualization
d. adopting wage incentive scheme
9. The following are social responsibility and accountability towards creditors,
except _______________.
a. obtain loans on reasonable conditions
b. follow mortgage rules
c. follow business ethics
d. past due loan payments
10. The following are social responsibility and accountability towards customers,
except _______________.
a. providing commodities and services
b. determining of fair price
c. rendering goods and economic services
d. hoarding of products
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Additional Activities
Directions: Give ten (10) responsibilities that you will apply if you are an
entrepreneur. Write your answer on a separate sheet of paper.
1. ______________________________________
2. ______________________________________
3. ______________________________________
4. ______________________________________
5. ______________________________________
6. ______________________________________
7. ______________________________________
8. ______________________________________
9. ______________________________________
10._________________________________________
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Assessment What I Have
B Learned? What’s New
D
D Responsibility
C Responsibility B
A Accountabilit C
A y G
D Accountabilit I
C y A
D Accountabilit J
D y D
Responsibility E
Responsibility H
Accountabilit F
y
Responsibility
Responsibility
What In What I Know What’s More
TRUE A Create,
TRUE B Maintain a safe
workplace
TRUE C
Respect
FALSE A Human Rights
TRUE A Support Career
TRUE A Development
TRUE B Train and
FALSE C Educate
FALSE D Employees
TRUE A Manage
D Performance
B Give Rewards
and Benefits
B
Pay Wages and
B Taxes
B Facilitate
Worker’s’
Compensation
Supplier
Customer
Answer Key
References
https://www.googlesir.com/social-responsibility-of-entrepreneurs-towards-society-
local-community/
https://www.googlesir.com/social-responsibility-of-entrepreneurs-towards-
customers/
https://www.googlesir.com/social-responsibility-of-entrepreneurs-towards-
employees/
https://www.googlesir.com/responsibility-of-entrepreneur-towards-suppliers-
creditors-and-depositor/
https://www.googlesir.com/social-responsibility-of-entrepreneurs-towards-
government-institutions/
https://www.investopedia.com/terms/b/business-ethics.asp
https://www.investopedia.com/terms/e/entrepreneur
https://simplicable.com/new/accountability
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