Business Ethics and Social Responsibility

Learning Module 05: Importance of Establishing and Sustaining Business Enterprises

Let’s Recall

Read each statement below and evaluate whether it is true or false. Write your FIRST NAME if
the statement is TRUE and LAST NAME if the statement is FALSE.

HANNA 1. Financial Freedom is having residual income to cover your living expenses.
HANNA 2. Sustainability is increasingly important in the business world.

DUSARAN 3. Establishing business does not create jobs.

HANNA 4. Having debt-free can achieve financial freedom.
DUSARAN 5. Social enterprise helps disadvantaged population to human development and
economic prosperity.

Let’s Apply

Choose the best answer for each of the following questions. Write your answer in a separate
sheet of paper.

1. B
2. D
3. C
4. B
5. B

Let’s Analyze

Based on the ways to help us in achieving financial freedom discussed, analyze the below
statements and Indicate what ways are applied. (10 points).

1. Set Life Goals

2. Get a Financial Advisor
3. Live Below Your Means
4. Create Automatic Savings
5. Pay Off Credit Cards in Full
6. Make a Budget
7. Watch Your Credit
8. Negotiate
9. Proper Maintenance
10. Start Investing Now

This study source was downloaded by 100000835361628 from CourseHero.com on 05-23-2022 02:40:30 GMT -05:00

https://www.coursehero.com/file/111830602/Business-Ethics-Module-5-Q2docx/
 Let’s Try

Case Study

Gawad Kalinga (GK) Enchanted Farm

The GK Enchanted Farm is Gawad Kalinga’s platform to raise social entrepreneurs, help
local farmers, and create wealth in the countryside. As we learned that the road out of
poverty is a continuing journey and therefore, providing homes is merely the beginning, we
also realized that our country is abundant with resources (land included) that we can harness
for every Filipino to continuously lead a life with dignity.

What Filipino entrepreneurs need today, especially young and rising ones, is an environment
that will help bring their ideas to life and challenge them to aspire for the greatest social
impact. This means keeping connected to community and gaining access to good mentoring,
value-added networking, and basic facilities and resources. As a Village University,
classrooms are connected to communities, making it an ideal site for any university student.
Here, students will be exposed to how to start social enterprises and communities.

Currently the following social enterprises can be found on the GK Enchanted Farm:

a. First Harvest (Peanut Spread)

b. Golden Ducks (Golden Eggs/Duck Burger)
c. Gourmet Keso (Cheese/Gatas)
d. Herb Planting
e. Kara and Beaus (Ice Cream)
f. Mushroom Magic
g. Plush and Play (Stuff Toys)
h. Theo and Philo Artisan Chocolate

Guide Questions:

a. Do you think the GK social enterprises above are sustainable? Why or why not?
With the achievement of GK social enterprises, I can say that these are all
successful. GK Enchanted Farm is known not only in the Philippines but also abroad.
Aside from the 8 social enterprises listed in the book, GK has a total of 17 social
enterprises that focuses on the concept of environment and farming. GK Enchanted Farm

This study source was downloaded by 100000835361628 from CourseHero.com on 05-23-2022 02:40:30 GMT -05:00

https://www.coursehero.com/file/111830602/Business-Ethics-Module-5-Q2docx/
 has a tour for their guests and from the activities they offer up to the food that they serve,
it is all from the fruit of labor of the farmers and the volunteers.
b. Do you think that GK social enterprises help in poverty alleviation or reduction?
Yes, GK social enterprises help in poverty alleviation because they are supporting
poor families and they are building houses from them through the GK Enchanted Farm.
They also give job to the farmers so they can earn something. GK social enterprises also
help the poor people by providing quality and affordable products that are mostly organic
and natural that comes from the environment. They are also providing jobs and education
for the poor family. By educating the youth about building social enterprises they are also
helping them to grow and be successful someday
c. Does it create financial freedom to its employees? Why or why not?
Yes it does create financial freedom to its employees because they are able to
work and have money to sustain their daily lives without using credit since they have
their regular salary and benefits.
d. Why is establishing a business can help the community? Can it create jobs?
Establishing business can indeed help the community. Businesses increase the
level of taxation for a local community and ensure the money remains in that society. In
addition to that it also decreases the poverty levels as more people move to become
entrepreneurs as others also get employed.
e. Why is it important for businesses to think beyond profit?
Because profit is too temporary to guide a business by. If a business' main purpose
is to make a profit, this will both lead to a lack of strategic direction and reduced staff
motivation.
f. How about in your local community, does the local community benefit from the
business enterprises? In what way? Do these businesses create jobs to your
neighbors?
Yes, even we have a global pandemic I can still notice that many still establish
new businesses. These businesses established here in my community gave opportunities
for people to have jobs and regular income.

This study source was downloaded by 100000835361628 from CourseHero.com on 05-23-2022 02:40:30 GMT -05:00

https://www.coursehero.com/file/111830602/Business-Ethics-Module-5-Q2docx/
Powered by TCPDF (www.tcpdf.org)