Reaction in the business code of Ethics of PLDT

Navales, Reihnier J.Dela Rea, Kimmi

School of Electrical, Electronics, and Computer EngineeringMapúa Institute of Technology

Muralla St., Intramuros, Manila Philippinesreihnier_21@yahoo.com

Abstract- This paper tackles and encompasses our personal analysis and reaction based on the business code of ethics of the PLDT.

I. Summary.

Philippine Long Distance Telephone Company also known as PLDT has a good and organized business code of Ethics. The code is presented initially with its foundation or as they say it the spirit of the code. All the codes that are stated revolve into four principles and value namely; accountability, integrity, fairness and transparency. In the code proper it is divided into seven parts which consist of items that are related to the area of concerns. First division tackles the compliance, this only shows how the people affected with the code should comply and should not be in any term be involved in corruption. Second is the completion and fair dealing, it is all about how to deal with everyone in business. Third part is all about the confidentiality of information and how the property of the company be given with importance. Professionalism is the concern of the next two parts of the code, from here it says that all activities of the employee should not be hindered their performance towards the company. Loyalty and confidentiality

should be observed. The part sixth tackles the Risk management. The last part concerns the relationship of the company towards the shareholders and investors; from this the company shows how they give importance to the rights of the investors wherein they conduct strategies that may reflect to the financial statement of the company.

II. 5 Items we like most.

1. Avoid taking unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any unfair dealing practice.

2. Deal fairly with the Company’s customers, service providers, suppliers, competitors and employees.

3. Avoid any actual or apparent conflicts of interest between your private interest, including the private interest of a member of your family, and the interests of the Company, unless you have obtained prior approval by the appropriate approving authorities as designated in applicable

policies of the Company. Any actual or apparent conflict of interest, and any material transaction or relationship that could reasonably be expected to give rise to a conflict of interest, should be disclosed to the Corporate Governance Office.

4. Properly review and critically analyze proposed disclosure for accuracy and completeness (or, where appropriate, delegate this task to others).

5. Follow Company policy and applicable laws regarding business records retention. Ensure that records are not altered, concealed, destroyed or falsified to impede, obstruct or influence any investigation by, or proceeding before any official Company committee or body, governmental, regulatory or judicial body having jurisdiction.

This is the five items we like most. We chose this item because it shows the professionalism of the company without violating the rights of the people involved, specially the consumers and the employee.

III. 5 Items we least like.

1. Protect the assets of the Company from loss, damage, misuse or theft.

- Every company has its assets. We cannot avoid loss or damages of the assets of company. Instead of using the word protect, it may use the word prevent.

2. Advance the Company’s legitimate interests when the opportunity arises.

Avoid competing with the Company on a business opportunity or acquiring an interest adverse to that of the Company’s. Refrain from taking advantage of Company property, information or position, or opportunities arising from these, for personal gain, to compete with the Company, or act against the best interest of the Company. Directors, officers and employees who intend to make use of Company property or services in a manner not solely for the benefit of the Company should obtain prior approval from appropriate approving authorities as designated in applicable policies of the Company.

- stated above it shows a greedy attitude on the side of the company. It conveys that every employee’s move should benefit the company.

3. Be familiar with the disclosure requirements applicable to the Company as well as the business and financial operations of the Company

- Not every employee can familiarize the requirements for disclosure. The disclosure should be specific to be understood easily.

4. Assess the effectiveness of the disclosure controls and procedures and internal controls and take corrective actions with regard to any identified weaknesses or deficiencies.

- The principle did not specify who will take corrective actions if ever deficiencies occur within the company caused by an employee.

5. Fully assess and manage risks involved in undertaking strategies,

acquisitions, activities, products, services and other business endeavors of the Company

Taking risk is one of the important things in a company. In managing risks, the employees who took the risk should take full responsibility. The responsibility should be between directors and shareholders.

IV. Items to be deleted.

Protect the assets of the Company from loss, damage, misuse or theft. From the code this item is the one that we think should be deleted because as stated earlier in our list of least like items it shows that we cannot avoid loss or damages of the assets of company. Instead of using the word protect, it may use the word prevent.

V. Items to be added.

The company should add items regarding to how they will respond to the concern of their customers. And how they should prioritize the satisfaction of their customers with regards to the services they are offering.

In our opinion we find the codes lacking with items that may secure the satisfaction of the consumers, it doesn’t include how the employee should treat the consumers if problem exist