hi-i-am-matt

[hi-i-am-matt]

A Disease We Still Can Not Get Rid Of

Photo credits to https://www.sfchronicle.com/opinion/openforum/article/The-racial-discrimination-that-existing-laws-fail-15414612.php

"Discrimination is a disease," said by Roger Staubach.

A disease can be referred to as a disorder of structure or impairs the normal function of a system and typically it manifests certain signs or symptoms. On the other hand, discrimination is an act or a practice that favors a specific group or an individual over another group or individual without any morally relevant differences. Just like disease, discrimination is a disorder of structure, particularly within the society, and it hinders a harmonious and sound relationship within members of the society. And similar to a disease, discrimination manifests symptoms of impairments of the society, such as unequal justice systems, protests and several disagreements among unhappy members of the society.

Let's take an example of a company that is hiring a driver. Management will probably choose a man with complete sight than a man who is blind upon selection since the sense of sight is very crucial in driving. In this case, the company is not discriminating blind people from people with complete sight since it can justify that in order to drive safely and avoid accidents, the driver should have a sight of the way. However, if the company choses a white-male candidate over a black-male candidate to be a driver without any reasonable justification, and assuming both are able to drive, will constitute an evident case of discrimination, specifically discrimination of race.

There has been a long record of discrimination throughout the history of mankind. One might argue that favoring men in the ascendance of being a ruler or in the selection as a head of state in most nations during the ancient times is a form of discrimination against women. This is the same case of prohibiting women before in participating in state affairs, such as voting. The caste system which involves segmentation of society in to groups and distinguish elites from middle classes and even to those members which it considers to be "untouchables" is another form of discrimination.

In spite of the improvements in our current society from the past and the intervention of governments to prevent injustices mainly brought by discrimination, we cannot deny the fact that discrimination is still existing and rampant in some organizations. The case of Betty Dukes and other women who worked in Walmart is one of the best examples of how the society, including government, failed to protect people, regardless of gender, from discrimination. Likewise, we sometimes hear news which involves people being discriminated against and bullied as being part of the LGBT community.

Discrimination is viewed to be as one of the factors of prejudice and hate crimes in the society. It encourages violence between groups - for both those who discriminate and those who are discriminated against as they feel that the society does not accept their existence. The existence of this tension hinders peace and sound relationships among people. Hence, we can say that a society tends to be less safe if it has higher incidence of discrimination.

Discrimination also affects someone's mental health in an adverse manner. Similarly, it can lead to low self-esteem and poor performance and productivity. For instance, an employee who feels discriminated against will probably not perform well in his/her tasks and always feel demotivated. It also costs society by disabling people to grow ethically and be productive to have positive contributions to the economy.

As a disease, discrimination should be treated to foster progress otherwise it will keep spreading and adversely affecting our society. A proper education by informing public on the forms of discrimination is already a big step. Moreover, it will be helpful if there would be a change in legislation, specifically imposing heavier penalties to discourage discrimination from all sectors. And lastly, an evident good governance practice within a community or organization may encourage ethical decisions among its members and might abandon discriminatory acts.

As Nelson Mandela says, "No one is born hating another person because of the color of his skin, or his background, or his religion. People must learn to hate, and if they can learn to hate, they can be taught to love, for love comes more naturally to the human heart than its opposite."

[hi-i-am-matt]

Issues on Advertising

Advertising is one way companies communicate to a wide variety of stakeholders, mainly possible customers or future partners. It is a business practice which enables companies to promote their products and services and establish corporate branding (which is typically distinct from their competitors). Nowadays, advertising is done through several mediums, such as television or radio broadcasts, internet engagements, billboards and flyers, and so on. In most cases, companies target groups rather than individuals in advertising their products.

There are lots of benefits of advertising. One of the main reasons why companies advertise their products is to spread awareness. This is crucial whenever the company wants to introduce a new product or there are any innovations on their existing product. Through advertising, companies may be able to provide information on the product they sell and enlighten the public about its characteristics and what are the benefits of using it. Moreover, companies want to convince customers that their products are superior among other products which change their attitudes and persuade them to buy. And lastly, companies establish a perception that customers need the product and they should buy it (and even suggest buying it right away) by highlighting the benefits they can derive from buying and using it as soon as possible.

However, in the pursuit of boosting consumer demand and sales, in some cases, companies go too far in advertising.

Let's take this billboard as an example -

This billboard advertisement of Napoleon Quince drink, "Nakatikim ka na ba ng kinse años?" ("Have you ever tasted a 15-year old?") triggered women's and children's groups in the 2004 as it is perceived to have double entrende which is exploitative, not only to women, but also to children, particularly 15-year old.

Another advertisement has been criticized because of the confusion it may lead to children. It was a commercial by the LBC Express in 2009 which portrays a child participating in a spelling bee competition, and when asked what was the spelling of the word "remittance", he answered "L-B-C" referring to LBC express, which was declared as the correct answer. The company, then, pulled out its commercial as a support to the government efforts in "improving the quality of education".

In some instances, companies utilize individual desires, anxieties, low self-esteem, pride and societal norms to motivate customers to avail their products and services. They rely on these factors to market and advertise their products to the public. These factors are used by companies to manipulate customers' behavior and decision in buying their products.

Recently, a controversial advertisement (ad) from the Belo Medical Group received backlash from the public due to its negative portrayal on the challenges faced by the women during the COVID-19 pandemic. Some critics pointed out that the ad suggests how capitalists exploit insecurities and imperfections, and how society provides the standards of beauty. However, the company took down its ad and issued a public apology to soothe the public.

Advertising has the potential to drive customer acquisition and boost sales when used effectively and strategically. On the other hand, a bad advertisement will result in a disaster - creating a bad image to the public which may result in significant boycott, not only to the product being advertised, but also to all brands and products the company is selling. Companies should also take high diligence and care whenever it advertises a product as advertisement can be considered as a form of investment - it invests to establish a good image or brand to the customers. Furthermore, companies should not treat sales (or profits) and acting within the ethical norms as mutually exclusive choices. Lastly, customers which are highly satisfied with products or services (since these products or services have high quality) tend to promote them without incurring significant costs to the companies.

[hi-i-am-matt]

What We Can Learn from the Fall of One of the Biggest Business Empires

The case of Enron Corporation (or Enron) has been one of the most discussed cases in the accounting profession and even in the discussion of business management cases. The word "Enron" is typically related or makes it synonymous to the word "fraud". It is because Enron was involved in one of the largest corporate and financial frauds in the 21st century in the United States. This corporate failure brought significant debates regarding the existing accounting and regulatory practices among regulators and led to the enactment of the Sarbanes-Oxley Act of 2002 (or commonly known as SOX).

Before Enron's collapse, it dominated the market of natural-gas and energy in America. It expanded its operations overseas while it seeks new possible energy opportunities, and even in the water industry. Its overseas operations extended not only in the Americas, but also in Europe and Asia. The deregulation of natural gas in the United States and Enron's transformation allowing it to trade derivative contracts to mitigate risks of energy-price fluctuations made it possible for Enron to generate a huge amount of profits.

However, not all reported profits were true and not all aspects of the financial transactions of Enron and its affiliates were properly reported and disclosed in its financial reports. The pressure from both market and shareholders drove Enron's management to rely on complex and dubious accounting practices which allowed them to conceal unfavorable financial indicators and make favorable reports the stakeholders can rely on. Specifically, Enron tried to conceal its troubled operations in its so-called "Special Purpose Entities" (or SPEs) by writing off these assets (and liabilities) on its books and transferring them to these SPEs, including those that suffered losses. These practices created an illusion among stakeholders that Enron was still realizing huge profits and was able to sustain the majority of its operations. In effect, it maintained a robust and generally increasing stock price (which are very crucial among investors) and a positive credit rating (among creditors).

These practices, which then suddenly led to fraudulent financial reporting to deceive stakeholders, were mainly initiated, and motivated by its top executives. Its Chief Executive Officer, Jeffrey Skilling, and Chief Financial Officer, Andrew Fastow, took the opportunity to override loopholes in the legal aspects within the energy market (which is a deregulated industry) and in the existing accounting practices to prepare misleading financial reports. Effectively, some of their subordinates were pressured to do the same which made them motivated to be part of these aggressive practices within Enron's organization.

Aside from the defective control environment within Enron's organization, it is believed that the involvement of its external auditor and consultant, Arthur Anderson (one of the biggest public accounting firms globally), took part to defraud Enron's stakeholders. They allowed the aggressiveness of the complex and dubious accounting practices of Enron. As Enron's consultant and external auditor, it appears that Arthur Andersen's independence was evidently impaired. Therefore, Arthur Andersen was unable to provide added credibility and assurance that the financial reports prepared by Enron were fairly reasonable.

Enron plunged into free fall as details of the accounting frauds emerged. From a very high stock price of $90 per share in the Q3 2000, it plummeted to $20 in October 2001, and to a shocking price of less than a dollar within December 2001. Aside from the investors, Enron's employees incurred very high significant losses as their pension funds were heavily reliant on the company's stocks, which made them realize almost nothing on their pensions. Some partners of Enron also backed out on their deals. Similarly, majority of the clients of Arthur Andersen disengaged with the firm in order to save their reputations since reputations of both entities (Enron and Arthur Andersen) were rapidly deteriorating as result of several lawsuits. It adversely affects Arthur Andersen's operations as it significantly loses a huge part of its market share in the public practice. In addition to its clients, many of its employees abandoned the firm.

The majority of investors were unable to recoup their funds, and employees received only a small portion of their pensions, despite the fact that numerous lawsuits filed against Arthur Andersen and Enron were successful. This scandal resulted in the creation of stricter regulations and legislations that cover not only those entities in the energy industry, but all entities across all industries, and even include regulation of the public accounting firms rendering audit services, namely SOX. It also caused several updates in the financial reporting standards on a global scale in order to prevent the recurrence of the financial reporting fraud that happened in Enron.

[hi-i-am-matt]

The "Gatekeepers"

I acknowledge that all people, as being part of a society, hold an important role; some of these roles are very specialized in nature which requires some high level of knowledge and expertise in a particular field. For example, I would be needing a doctor if I am sick. Likewise, I need to see a lawyer if I need legal advice or if I am involved in a court or legal proceeding. In this case, the specialized roles of the doctors and lawyers are associated with what we call as professions.

We distinguish professions with the other jobs as professions require specialized knowledge or expertise in a certain field. In the given example above, a doctor has high expertise in the field of medicine and health, a lawyer has a high expertise in the field of law. Other examples are engineers, accountants, valuation experts, and so on and so forth. In my case, I am part of the accounting profession (since I am a CPA). As being part of the profession, we enjoy some certain legal and social privileges (for e.g., as an accountant, I can prepare and certify financial statements of a company; another would be a doctor who can only write prescriptions of drugs/medicines). In return, we use our expertise, and these granted privileges to serve for the public good. It is indeed that every right or privilege implies a duty or responsibility.

As a professional we are considered to be as "gatekeepers" as we perform our duties according to certain rules, regulations or conditions to ensure that we positively contribute to the society based on the functions we ought to be. It is very important that we uphold our integrity to earn public trust, thus, we refrain from any acts that constitute fraud and deception. I remember being part of an audit team, as an auditor, we verify whether the prepared financial statements by the companies are free from material fraud and errors before reporting them to various stakeholders. Such functions protect the interests of various parties as we enhance the credibility of such reports made by the management for them to have sound and proper decision making.

Although we perform our duties for the public good, conflict of interest may arise. Since we are engaged and paid by the companies to do certain tasks, we have financial interests towards them. In this sense, it creates a conflict between our professional duties and our professional's self-interest.

So how do we still uphold our duty to serve the public good?

We are guided by the Code of Professional Ethics that sets out our principles in order to maintain public trust and confidence which embodies our integrity, objectivity and concern for the public interest. We acknowledge the importance that we should perform our public duties within the ethical and moral norms of the society, otherwise, no one will put confidence in every work we do (which will make our profession meaningless and useless). However, society also plays an important role in maintaining the profession as "gatekeepers". In this regard, society makes changes at a social level, for e.g., instead of the executive management, businesses' Board of Directors should hire auditors to review management reports, such as financial statements, or the government creates a legislation that prohibits auditors to perform non-audit services to their audit clients (best example is the Sarbanes-Oxley Act of 2002 in the U.S.).

As Sidney Poitier says - "So I had to be careful. I recognized the responsibility that, whether I liked it or not, I had to accept whatever the obligation was. That was to behave in a manner, to carry myself in such a professional way, as if there ever is a reflection, it's a positive one."

Photo reference: https://webstockreview.net/explore/professional-clipart-different-profession/

[hi-i-am-matt]

KPI - Track to Progress

It has been a tiring day!

Aside from Facebook, Instagram and Twitter, it has now become a habit for me to browse my LinkedIn feeds and read some inspiring or motivational posts from my LinkedIn connections or to those pages I follow. As we all know, LinkedIn is like the "formal-professional-version-of-Facebook" but with added highlights on the career opportunities from multitude of people and firms. So, upon browsing, a certain post caught my attention. It states there that KPI is not just "Key Performance Indicators", rather it means "Keep People Interested", "Keep People Involved", and "Keep People Inspired"!

Photo credits to https://blog.vantagecircle.com/teamwork-and-team-building/

It is not new to us that people are an important element of any type of organization. Just like you, and I, as people, being part of the "workforce" of an organization, we constitute a team and work together to advance and achieve a common goal. And this common goal pertains to the right organizational objectives - ultimately, fulfill the needs of our stakeholders! Therefore, companies establish ways for them to track and measure these goals; and these are what are known as "Key Performance Indicators" or "KPIs".

A good and sound execution of KPI will undoubtedly lead to success. But let's get real, not all businesses with established KPIs always succeed. According to Forbes, there is often a big difference between what the company thinks or says it wants to be and what it actually wants to be. As a result, employees tend to get lost with their own KPIs. Moreover, the stated objectives with regards to work structures frequently diverge from the actual situation. For instance, companies generally claim that their work structure aids employees to unleash their (full) potential, however, the existence of rampant politics and bureaucracy among departments, hinders their growth and motivation in work.

KPIs, in the worst case scenario, are being devised to micromanage people. Likewise, it becomes an instrument that pressures employees to meet certain targets solely to maximize earnings (even though these targets tend to be unreasonable in some cases). These inappropriate usages of this tool create burdens to employees and cause inefficiencies within the processes. End result - people become demotivated to work or find better opportunities outside the firm.

Well, I still agree that KPI are still useful, but just what I have read (and experienced - since I am already assuming a supervisory role in my current work in which I manage a small group of people), the concept of KPI should be expanded to create and/or promote a healthy culture among employees within the organization. So going back, an established "set of indicators" should keep people interested. Although there are some works that are very challenging or boring, enabling them to be more creative and proper mentoring will keep their interests. Moreover, keeping them involved within some aspects (not all since it will be impractical) of the process results in better communication and understanding between managers and employees. It also creates a sense of commitment to some employees when they are considered to be part of the decision-making process. And lastly, keeping them inspired so that they could bring brilliant ideas and be outstanding.

It might seem very simple as we speak it in theory, but to motivate a person and build a healthy culture is a very long and challenging process. But if managers will not act properly to address issues that make their employees quit due to nonperformance and not meeting those KPIs, then, it is sure that no company will succeed with this type of set-up. Likewise, generally, no stakeholder will put his or her interest in an enterprise that does not value its own people.

[hi-i-am-matt]

Greatest Good For The Greatest Number

Photo credits to https://www.britannica.com/explore/savingearth/population

Imagine a scenario - a man named Jim is on an expedition and caught in between the group of indigenous people and group of soldiers. The whole group of indigenous people is about to be executed, however, the leader of the group of soldiers gives Jim, as guest of their land, the privilege to shoot one of the indigenous people. If Jim decides to shoot one, he will save the other 19. However, if Jim refuses to shoot one, a man named Pedro will kill all the 20. In this scenario, what should Jim do?

Some might argue Jim should shoot one in order to save the other 19. Others might answer, he should not shoot anyone as he should not let the blood of indigenous people on his hands and try to rectify the situation - then, Pedro will shoot all the 20. Moreover, it is not Jim's fault that the leader of the group of soldiers is evil.

This thought experiment was introduced by Bernard Williams, an English moral philosopher, who ought to critique utilitarianism.

Wait! Before we go back to the scenario and provide a best possible course of action, we must understand first what utilitarianism is.

Utilitarianism is a moral theory that focuses on the results or consequences to foster overall happiness and opposes actions that cause unhappiness, while treating the intentions as irrelevant. In this light, it is deemed that good consequences equal good actions. It regards pleasure or happiness is the only thing that has intrinsic value, and everyone's happiness counts equally (as utilitarians argue, anyone's interest count but not more than anyone else's). Although it might seem controversial, utilitarian's approach to assess moral quality of an action is based on the whether it produces the maximum benefits for the greatest number of people. Although, some agree that the moral nature of an action depends on the motives and intentions behind it.

Let's try another scenario!

Photo credits to https://source.wustl.edu/2018/04/six-tips-how-to-be-more-fair-and-ethical/

Imagine there's a man that steals (a thief!) money and properties from those who are rich and redistributes his stealing to those who are in need, especially the poor and who are sick (a similar case of Robinhood). An "act" utilitarian will accept this act as it provides more benefit (happiness from the poor and sick) than pain (the rich who lost properties because of the thief). Put simply, the "act" utilitarianism choose the action that produce the greatest good for the greatest number.

On the other hand, "rule" utilitarians will argue that stealing is against the rules which might adversely affect peace and order in the long-run even though the thief redistributes his stealing to those who are in need of help. Under the "rule" utilitarianism, a decision maker is refrained to do acts that might maximize the utility on the short run, but instead choose acts that will maximize the utility on the long run and majority of the time. This, however, makes sense in promoting public good and order, and good governance.

Applying them in the business context, businesses might use theories of utilitarianism to increase more profits, which may lead them to use all means they could think of, even if it constitutes immoral or unethical acts. For example, they might manufacture and sell substandard or unsafe products in order to increase and maximize profits. In contrast, businesses might use utilitarianism by selling quality and safe products which promotes goodwill and increase intrinsic value upon meeting (or even exceeding) customers' expectations. Moreover, businesses may apply utilitarianism in promoting wellbeing among employees to promote productivity and efficiency by either providing employee incentives or increasing salary or wage rates.

So, let's go back to the initial scenario, whether you are an "act" or a "rule" utilitarian, you will probably find it acceptable for Jim to shoot one indigenous person as it will save the other 19, and provided, that all of these indigenous people are dead if Jim will not shoot one. Although it is painful for the one to be shot and for Jim, but for utilitarians, pain and pain, and anyone's pain is not lesser or more than the pain of others, likewise, Jim shall make decisions from the position of a benevolent, disinterested person. However, this is not the end! If Jim shoots one indigenous person, then it might adversely Jim's conscience for the rest of his life. Similarly, if Jim chose not to shoot one, he will be indirectly responsible for killing all the 20 due to his negative responsibility.

The concept of utilitarianism might be relatively simple yet its application in real life for some scenarios might be a great challenge!

[hi-i-am-matt]

The [Story and] Plan of My Life

In my experiences of exploring opportunities in the corporate world, recruiters often ask me this question - "What are your (long-) term plans?" I remember one instance in which I answered (non-verbatim), "I am planning to build my own business because I do not foresee myself to be an employee of someone's business forever." By the way, I wasn't considered for that post (I guess due to other factors, such as my qualifications and experience for the post or I just didn't do well during the interview). Well, that's my plan until now - at first, I would like to put up my own firm to utilize my profession and credentials (as a Certified Public Accountant and as a Tax Technician) and then invest additional capital in the business of leasing properties.

What motivates me towards such plans, or should I say dreams?

I came up from a lower middle-income family and witnessed how not all hardships pay off well. There are instances I heard my parents have discussions about finances and how could they possible send us (I and my brother) to school. Although they worked together to provide the needs of our family, it is inevitable that we experienced hard times. Having these experiences while growing up, I promised to myself to have a career that will help me provide my parents with the best life they can experience as they grow old and help me provide for myself and for my future family.

The combination of my dedication and my parents' hard work were able to have their fruits. It is still unimaginable that despite limited resources I have way back in college, I was able to graduate in my bachelor's degree, finance the review school I attended (for the upcoming board exam), and ultimately passed the CPA licensure examination on my first take!

So, where am I now in making those plans and dreams come true?

I am currently working as a Senior Analyst in one of the largest property management firms in the Philippines. It has been my interest since then to be part of the real estate industry and my current involvement in the industry help me gain more knowledge about how this type of business works. It is my dream to have an investment portfolio of various real estate properties which will enable me to earn potentially high passive income.

As a I want to put up a business or tax consultancy firm and work as a freelance professional accountant, I sometimes find opportunities in which I can earn other relevant certifications (like those internationally recognized certifications relevant in my profession, such as CISA and CFE) and engage in various trainings. I am currently enrolled in a business graduate school to gain relevant knowledge and experiences so I can be competent in my professional field.

With the current salary and I am earning and the savings I have, not only helped me finance some of my family's needs, but also my graduate studies which I am currently taking. So far, I make investments not only for my personal finance but also for the finance of my future family, although I still have no plans to build my family in the near future - I believe, it is best if I can start as early as now when I am still young and single. And besides, I am still investing in my education to have a stronger career outlook so I can be a good provider for my future family!

Well, in my current state, I think I am steps closer towards my dream and everything I undertake is still within the plan, although, I admit it is still a long journey ahead and expect there are still uncertainties as I move forward. Wish me luck, then!

[hi-i-am-matt]

The Trinity of Work, Job and Career

Whenever I think of work, I think of my tasks I normally do as a Senior Analyst, which is my current job. So basically, I interchange the words "work" and "job". But it has come to my knowledge (credits to my professor for a very insightful discussion) that "work" and "job" are different. When we say "work" it is something that we do, physically or mentally, something that we desire or to accomplish certain goals. On the other hand, when we say "job", it refers to something that we do but with the expectation that we will receive something for consideration, i.e., salary or wage. So, the way I understand it, a job is a work that is paid, and not all works are paid, as they are not jobs - job is a part of the work spectrum.

I admit that in my current perspective I view my work as a job. Why? It's very simple - what motivates me to work is that I am looking forward for a compensation. I see how my work (through my job) provides the funds I need to support myself and my family. But it has also come to my knowledge, when you work and you considering such work as part of a progress, development or an advancement of the path you want to take in life - then, that is considered to be a "career"!

So, I ask myself: when can I consider my job as a career? Likewise, how can I make the things I am working right now be a career? But, most importantly - is this the path which I am currently taking is the real path for me going to success? Well honestly, those are the things I am still finding out. The same way, what actions can I take now for me advance to the path I want to take in life. If I am to assess what I am currently doing in my job - I see relevance on the things I do. I also appreciate how my experiences help me grow, not only professionally but also personally. Although not all experiences are good, these experiences help me understand that challenges are inevitable components of learning. So can I say I am something heading towards the path of considering what I am doing as a career? I guess, it is a YES!

Aside from my full-time job I have as a Senior Analyst in a private real estate firm, I do part-time hustles. On weekends, I am a teacher. Being a teacher, I am able to interact with may people (which are mostly my students) and share my knowledge in the subject matters of my expertise. It is not only that my students are learning - I am also learning. These learnings are mainly character developments I understand as I interact with my students. For example, before I am a short-tempered person, but my students help me realize and keep me reminded that even though our subject is hard, they are passionate and eager to achieve their dreams, not only for them and also for their families, which makes me show more compassion, not only to them, but to other people I encounter.

The career I am looking forward for myself is something that can not only provide me earnings but also something that I can be considered as a contributor of anything - let's say, someone that provides mentoring or being an helping others achieve their goals in life and even become better persons, which is something similar with my part-time job. However, I am still trying to figure out and see a career path outside teaching. I admit it is a long road to reach that phase but what is something that I can't achieve if I am already taking steps to reach that, right?

[hi-i-am-matt]

A Perspective Beyond Numbers

Since I was a kid, I have always been interested and fascinated whenever I see numbers, equations and computations. I can consider mathematics as one of my motivations in my studies - likewise any subjects that involve computations, such as physics, chemistry, and social sciences, especially economics. My love and passion for mathematics helped me finish the accountancy program and, then, pursue a career as a Certified Public Accountant - it is like a "dream come true" for me. Numbers and computations will never perish on all the analyses I make which range from budgets to financial reports to assessments and other deliverables I make which are crucial for management decision-making. And currently, my attachment and adoration with it provides me fuel to pursue higher studies in the field of accountancy in my dream school!

In the middle of my journey for higher level of study in the field of accountancy, it is something of a strange decision that I took an elective subject that does not rely or at least involve numbers and computations, i.e., Ethics and Corporate Social Responsibility, over Risk Management, and Controllership subjects. Although subjects like Ethics are not new to me since I already took 'non-computational' subjects, such as Management and Governance subjects in my undergraduate program and even in my current program. So what made me decide to choose this as an elective subject over the two other aforementioned subjects? Well, it is quite of a simple reason - it is my present interest to understand and take a deeper appreciation of how ethics helps businesses (or even me as a professional or being part of an organization) achieve their goals while making them economically, socially and environmentally responsible.

Nowadays, corporate social responsibility (CSR) is becoming a popular trend among businesses. It has become part of the integrated reporting of entities and which stakeholders also consider aside from the financial and other regulatory disclosures made by these entities. It is often associated that through CSR initiatives, businesses strive their efforts to have positive environmental, social and economic impact. It also suggests how their ethical practices achieve their goals, making their business sustainable in the long-run.

Although it may sound promising, establishing or maintaining an ethical appearance, policies and practices is a challenge in all types of organization. It constitutes proper direction and guidance from the top management level to the low management level. Moreover, implementing CSR initiatives will probably have their costs. Likewise, some initiatives may not provide outright and evident benefits to the business to maximize wealth, or no financial benefit that could add to the operation profit, but more of helping people to provide their basic needs, especially those which are financially challenged or those who are victims of natural calamities. Although, it helps the businesses to establish better branding and stronger image as they are involved in these philanthropic activities.

Business ethics and CSR is never a new perspective to me, however, throughout my involvement in the management reporting group helps me understand and have better appreciation how disclosures, whether financial or nonfinancial, help stakeholders make meaningful decisions. Furthermore, how transparency and accountability enables a sound relationship between the management and the stakeholders.

I hope this new step of mine beyond numbers and computations I used to love will open new perspectives about crucial aspects of the business and even in life. With a bit feeling of excitement, this is something I look forward to. Perhaps this step of mine will help me create an interest in other non-numerical subjects of life. May God guide and help me on this exploration.