Colegio de San Juan de Letran

Intramuros, Manila
COLLEGE OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

WORKING CAPITAL MANAGEMENT

A Term Paper
Presented to
Asst. Prof. Ernesto Co

In Partial Fulfillment
of the Requirements for the Course
FINA102: Business Finance

By
Quelitano, Queen
Actech2A
For the 2nd Semester, Academic Year 2015-2016

TABLE OF CONTENT

Page
TITLE PAGE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

TABLE OF CONTENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ACKNOWLEDGEMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

DEDICATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CHAPTER I: INTRODUCTION
Background of the Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Statement of the Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Significance of the Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Scope and Limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Definition of Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER II: DISCUSSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CHAPTER III: SUMMARY, CONCLUSIONS AND RECOMMENDATIONS

Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Conclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Recommendation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

BIBLIOGRAPHY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ACKNOWLEDGEMENTS
2

The researcher wishes to convey her countless appreciation to the person who, in one
way or another, have enthusiastically and openhandedly contributed ideas and materials which
were used significantly in the preparation of this term paper.
First of all, her expression of gratitude is due to special people who had served her
inspiration through the whole period in the making of this paper. To name some are her friends
and her family for their love, support and encouragement made this paper a reality.
The researcher also wants to express her earnest gratitude to her Professor in Business
Finance, Asst. Prof. Ernesto Co for giving the challenge to conduct this paper, to Rev. Fr.
Orlando Aceron, O.P. for guiding and educating her to make correct citations and proper format
of a term paper and also to Ms. Ericka Gomez for correcting errors in this paper that helped for
the improvement of this paper.
Above all, her sincerest gratitude to the Lord, for providing her strength, patience and
determination. With Him the accomplishments of this paper is possible.

DEDICATION

The researcher dedicate this term paper to the individuals who never get tired in helping and
encouraging her to do better in all her paper works.
To her loving family and friends who never failed to give her an unwavering support and
encouragement to conclude this term paper.
To her professors who always share plenty ideas and knowledge in different aspects.
To her close friends, who had helped her for the accomplishment of this paper.
And finally, to our Almighty God who is always right by her side to give her guidance and
providence.

CHAPTER I
INTRODUCTION

Background of the Study

An organization, whether political, civic or business in nature, must be aware of its
immediate and future requirements for funds, the possible sources thereof and the benefits that
may accrue to the organization itself and to the community arising from efficient and effective
utilization of said funds.1
Working capital, being the lifeblood of an organization, needs to be efficiently and
effectively managed so that the organization may optimize its operations, maximize its growth
potential, and attain its desired financial position. 2
The concept of working capital management addresses companies managing of their
short-term capital and the goal of the management of working capital is to promote a satisfying
liquidity, profitability and shareholders value. Working capital management is the ability to
control effectively and efficiently the current assets and current liabilities in a manner that
provides the firm with maximum return on its assets and minimizes payments for its liabilities.
Working capital management plays a significant role in improved profitability of firms.
Firms can achieve optimal management of working capital by making the trade-off between
profitability and liquidity. The study finds a negative relationship between profitability and
number of days accounts receivable and cash conversion cycle, but a positive relationship
between profitability and number of days of inventory and number of days payable. Moreover,
the financial leverage, sales growth, current ratio and firm size also have significant effects on
the firms profitability. The management can also create value for their shareholders by
increasing their inventories to a reasonable level. Firms can also take long to pay their creditors
in as far as they do not strain their relationships with these creditors. Firms are capable of gaining
1 Nenita D. Mejorada, Business Finance and Philippine Business Firms, 3rd Edition (Quezon City; Katha
Publishing Co., 2006) p 3
2 Ibid., p 121
5

sustainable competitive advantage by means of effective and efficient utilization of the resources
of the organization through a careful reduction of the cash conversion cycle to its minimum. In
so doing, the profitability of the firms is expected to increase.3

Statement of the Problem

The researcher wishes to present the idea of Working Capital in the Business Firms in the
Philippines Today.
More specifically, the researcher seeks, intends and attempts to answer the following questions;
1. What are the different Concepts of Working Capital?
2. How relevant the Working Capital ?
3. How do other concerns in Morality affect the Filipinos?
This study was conducted through the utilization of reliable sources like the library and
those persons who lend the researcher references for the accomplishment of this research.

Significance and Importance of the Study

This term paper will be useful for other individual or students who are taking a course in
FINA102: Business Finance as their reference. The term paper can be a source of further study
regarding related topics in the Working Capital.
Moreover, this term paper will show the importance of Working Capital in the business
firms.

3 Working Capital Management and Firm Profitability: Empirical Evidence from Manufacturing and
Construction Firms
(http://ku.ac.ke/schools/business/images/stories/research/working_capital_management.pdf)
6

Scope and Limitations

This study focuses on the role of working capital in the business firms and it also focuses
on how different management of working capital affects the disposition of the firms. The paper
will not go beyond the mentioned topics and covered only by the books that were used.

Definition of Terms

CHAPTER II
DISCUSSION
Nature of Morality
Physical Good and Evil- The concept of morality revolves around the problem of good
and evil. A thing is called good when it is perfect, that is, when it is according to the perfection
of its nature or essence or when it functions according to the purpose for which it was made,
whenever a thing lacks this perfection, the thing is called bad. In this sense, we talk about good
or bad horse, or car, or harvest etc. All things are goof in come respect. As St. Thomas Aquinas
puts it: No being is said to be evil, considered as being, but only in so far as it lacks being.
Therefore, a thing is called bad insofar as it lacks the perfection due to its nature. A blind horse
is a bad because it is the privation of health. War is bad because it is privation of peace and
love among men.
Moral Good and Evil- Human actions which result from the practice of medicine, art,
agriculture, business, and so forth, are called good or right when they are perfect according to
their object, that is, when they are in conformity with certain standards or techniques established
7

by that art or science. They are bad or wrong when they lack the perfection or fullness required
by their object, that is, when they do not agree with their standards or techniques. Thus, we
distinguish a good surgical operation from a bad operation, a good speech from a bad one, a good
examination from a bad examination.
In the moral order, human actions are good when they have the moral perfection and
fullness required by the object of the actions, i.e., when they agree with the standards or norms of
morality, which are conscience and moral law. Consequently, good actions in an ethical sense are
perfect and morally good actions. Immoral or evil actions lack perfection; they disagree with the
norms of morality and deviate man from his final end.
Moral evil is an actual possibility and reality, consequence of the original sin committed
by our first parents. Evil is committed by thought, by actions, band by speech. Evil is always
________________________
7

Panizo, Alfredo.,Ethics of Moral Philosophy. (Manila: Novel Publishing Co., Inc. 1964) pp. 48-52.

immoral and because it is immoral, it is forbidden. Ethics is the normative science which teaches
man how to distinguish good from evil and how to overcome evil and practice good. As Socrates
advised the Greek people of his time: Let each one of us seek and follow one thing only-to learn
and discern between good and evil.
Different Aspects of Morality- In a popular sense, morality means a way of thinking and
acting in conformity with virtue and goodness, justice, propriety, fairness, prudence and other
standards of behavior generally accepted as befitting the individual in society. In this sense we
say: good morals or bad morals. In a strict morality is defined as the quality of human acts
by which we call them right or wrong, good or evil. Subjective and objective morality.
Subjective morality consists in a relation of the human act to the conscience, freedom and
knowledge of the moral agent. Objective morality considers the act itself performed by a moral
agent with regard to the object, end, and circumstances. Example: A blasphemy is in itself an
immoral act (objective morality). But it may happen that the person using the blasphemous
expression is not aware of what he is saying or he may be compelled to do so (subjective
morality). In order to have a complete moral judgment over human actions, one must consider
these two aspects: the subjective state of the agent and the object of the human action.
8

Sometimes, in this connection, the terms material and formal are used respectively for objective
and subjective.
Intrinsic and extrinsic morality- When a human act is good or bad by reason o its very
nature, it is said to have an intrinsic or natural morality. Extrinsic or conventional morality is the
term used to express the morality of an act which is good or bad not by reason of its very nature,
but because it is commanded or forbidden by human customs or laws.
An act is moral when it is conformity with the norms of morality which are human reason
or conscience (proximate) and natural law (ultimate). An act is non-moral or amoral when it has
no relation to morality, as walking or whistling. The term amoral is frequently applied to
persons who lack the moral sense of responsibility, as infants and insane people.
Morality and Moral Order- By showing the rightness or wrongness of human acts,
morality points to man the road to happiness or to the last end. Morality is described as the
agreement or disagreement of human act with the norms that regulate human conduct in relation
to mans ultimate end. Morality is, therefore, a kind of test or standard by which our acts are
measured as in conformity or disconformity with our last objective in life. Human actions are
good and moral when they lead man to his last end. Otherwise human actions are imperfect and
bad.
But if human actions should be ordered to one another and to the last end, then morality
becomes synonymous with the order of reason which is actualized through the right decision of
the free will.
The world of physical realities appears so well-ordered and perfectly designed those
Greek philosophers called it Cosmos which means beautiful. All creatures contribute to the
splendor of this natural order by following the natural laws implemented in them by the Author
of nature. By following the laws of his reason and the dictates of his conscience man creates a
superior and more beautiful order, the moral order. Human reason, however, is not the author of
the laws and principles of morality. Like the physical laws, the moral laws also come from God.
But human reason is able to discover these principles and, by applying them to the different
situations in life, produces the right conduct and the positive laws. Obedience to the moral and
civil laws brings about the social order.
9

Man Alone is Capable of Morality- Things and animals are neither moral norimmoral
because they completely lack the essential subjective elements of morality which are rational
knowledge and free will. Man alone is a moral being because he alone is a rational and
responsible being. Man is not totally responsible for his failing health or for his poverty; neither
is he responsible for his artistic talents, physical appearance, nationality, etc. These things are
given to man without his consent or against his will. But man is always held responsible for his
moral conduct.
Importance of Morality- Morality is necessary not only to preserve our individual
human dignity but also to preserve our social life. Moral problems arise in all spheres of human
endeavors and professions: in business, education, medicine, art, war, family, government and
etc. In fact, morality is the foundation of society and the whole happiness of man and even his
sanity depends on his moral condition. And since society does not exist all by itself in a void, but
is made up of the individuals who compose it, the problems of society cannot ultimately be
solved except in the moral life of individuals. If the citizens are wild animals, the city would be a
jungle.
Indeed, all human actions, even those actions which ordinarily are considered without
moral significance, have a real moral value. Let us take eating, for example, which is, in itself, a
mere bodily and indifferent action. The action of eating may have many moral implications. A
man may eat because it is good and necessary for the preservation of life; he may also eat in
obedience to a superior or doctor; he may eat when he should fast; he may eat too much or too
little against the order of reason; or he may eat to his satiety when somebody else starving.7

Principles of Christian Morality

Man is made to attain happiness through the pursuit of the moral good or the practice of
virtue. Etymologically virtue means manliness, i.e. strength, courage. In general, virtue is a
kind of disposition, ability, or habit inclining man to think and to act correctly, to follow what is
right and to avoid what is evil.

10

Virtues are not passing feelings or emotions. They are not single acts generosity or piety
or resignation, for such acts may be performed even by sinners. Virtue involves a habit, a
constant effort to do things well in spite of obstacles and difficulties. St. Augustines classical
definition of virtue is as follows: Virtue is a good quality of the mind by which one lives rightly,
which no one uses bodly and which God works in us but without us. The last past of this
definition refers to the supernatural virtues which are infused by God.
The Thomisitic doctrine of virtue can be summarized in three propositions:
a. Virtue is a good habit disposing potency or the power in which it resides to elicit a good
act.
b. Virtue directs and completely fulfills the capacities of spiritual powers of man.
c. Virtue is not only a good habit in itself but also a productive habit of good actions. By
________________________
8

Ibid.,pp. 96-106.

virtue, a person easily, readily, and without hesitation performs a good act. Therefore a
Thomistic definition of virtue would be: Human virtue is a good habit perfecting man in
any of his rational potencies and inclining him to thhe right and perfect use of his
potencies.
The system of virtues as developed by St. Thomas Aquinas is indeed permeated with the idea
of order. Potency and act are related to the final completion of the human act. But virtue orders
potency and act to the final perfection, the highest achievement of the human nature. It is through
virtue that the whole being of man, his mind and his will, his intentions and desires and external
acts are directed to good and happiness.

FOUR CARDINAL VIRTUES

1. Prudence- Prudence is the first and most important to all virtues, for mans good actions
are ultimately derived from the rectitude of his mind. St. Thomas defines prudence as
wisdom about human affairs; in particular, about the most important thing in life which is
the acquisition of the last end.

11

Prudence is a habit of the practical reason which enables us to judge promptly on particular
cases or contingent actions what is to be done or omitted. It results from the quick application of
the universal principles of moral conduct as contained in human reason to particular conclusions
in human matters. This quality is acquired by memory and by experience.
A prudent man has distinct knowledge of the facts if life, of their causes and effects; he
remembers the past, is aware of the present, can foresee the future. A scientist or historian or
novelist may know many facts about life and men, past, and present, and yet, may lack the
fundamental rectitude or discretion of the mind in matters concerning human life. Prudence is
vision of the truth of life, Plato said. And St. Augustine: Prudence is the knowledge of what is
to be sought and avoided.
In his long treatise in prudence, St. Thomas emphasized the high position of this virtue with
respect to others. Before we act rightly, we must think rightly. It is through prudence that our
conscience informs us of what is morally wrong or right. Prudence discovers, judge, and applies
knowledge to human action. Prudence is like the inner form of all virtues and it has a middle
place between the intellectual and moral virtues.
2. Fortitude or Courage- Man should confront lifes troubles with courage and resist the
temptation to surrender or to despair. Courage follows the middle course between
foolhardiness and cowardice; it curbs fear and moderates daring. For these two passions
like other passions, if not controlled by reason,, will degenerate into vices.
St. Thomas describes fortitude as strength of the soul which in certain great dangers,
especially the danger of death, binds the will firmly to the moral good. Fortitude is a special
habit of the soul which enables one to endure pain, dangers, and death with calmness of reason.
In the words of Chesteron, courage is almost a contradiction in terms. It means a strong desire
to live, taking the form of readiness to die.
Fortitude is a virtue only when pursuing the moral good, be it the common good or the
private good, either with regard to the danger of death or in connection with other difficulties of
life. Examples of brave and virtuous people are the soldier who defies death defending his
country; the martyr who chooses to die rather than to deny his faith; the virgin who prefers death
to loss of her chastity; the public servant who is ready to fight graft and corruption in spite of
12

threats to his life; the student who prepares his lessons everyday in his spite of many difficulties;
the businessman who is honest in his dealings. The boldness of a thief is not a virtue; neither is to
rush into peril out of stupidity is a sign of fortitude.
The importance of courage is easy to realize, considering that all other virtues, intellectual as
well as moral, require for their practice a certain degree of strength and firmness in order to
persevere in the good attention in spite of dangers and difficulties. Thus, a man who is inclined to
sobriety or one who has made a resolution to abstain from intoxicating drinks will accomplish
nothing unless he is ready to resists temptation firmly and to face privation.
3. Temperance- temperance or moderation is a moral virtue regulating the desire for
sensible pleasures within the limits of right reason and approved modes of social
behavior. Sensual delights affect the whole nature of man. The pleasure derived from
eating and drinking, smelling and touching and the pleasures remotely or proximately
connected with the sexual powers are not morally evil in themselves but natural
tendencies given by God to preserve life and to bring about the continuation of the human
species. But if these pleasures are not ordered and controlled by reason, they easily put
man on the same footing with irrational animals. Reason,, and not instinct, should be
mans guide when making use of these pleasures.
Self-indulgence, intemperance and sensuality may deprive men of higher goods and joys
such as those derived from the intellectual, artistic, and moral activity. They can also ruin the
health of persons and the happiness of homes.
Temperance contains the subordinate virtues of abstinence and sobriety, and chastity.
Chastity or purity is a moral virtue ordering under reason the thoughts, desires, words and
actions connected with sexual pleasures. To be pure does not mean to be insensible to the urge of
the sex instinct but to limit its use according to the demands of reason and the divine law; for
sexual pleasures, although morally lawful in the conjugal state, are forbidden outside marriage.
Sexual energies can be transformed into other higher activities of the human spirit. But sex,
released from the restraints and limits of reason, brings about individual prevision and family
destruction; it is the cause of many social crimes and the root of jealousy, hate, greed, juvenile
delinquency, poverty, and other evils.
13

4. Justice- Justice implies equality, for as water seeks its own level, so justice demands
equality in our relations and dealings with others. Mans dealings with himself are
sufficiently rectified by other moral virtues, i.e., by prudence, fortitude and temperance.
But justice regulates human relations and defines human rights and duties. It is properly a
social virtue concerning our dealings with other persons. Only metaphorically do we talk
justice to ourselves.
Right is the proper object of the virtue of justice and right means to do to others what is just,
to give what is due to them, as the payment of wages due to service rendered. Justice, therefore,
is defined as the habit or readiness which inclines man to give others what is due to them.
There are five different kinds of justice corresponding to five different relations of man in
society; namely, legal, distributive, commutative, social, and international justice.
Legal Justice: In the mind of St. Thomas Aquinas, common leagal justice is the general
justice binding all men to do what is for the common good accord with the law. Modern authors
restrict the meaning to the making of, and obedience to, just laws. Since it belongs to the law to
direct the acts of all the citizens to the common good of society, it follows that legal justice is
found primarily in the lawmakers of the nation and secondarily in the citizens. Legal justice
binds the legislators of the country to enact just laws.
Distributive Justice: This kind of justice is also concerned with persons in the government.
It directs state authorities in the fair distributions or allotment of the rewards, honors, and
burdens among the members of the community, according to a proportional equality. It is an
obligation of justice on the part of the leaders to give official positions to deserving persons on
the basis of their intellectual skill and moral integrity. One a person is admitted to the
government service, he is entitled to receive a compensation corresponding to his rank, dignity,
or responsibility. It is obvious, for instance, that the honor and compensation due to an
ambassador should be much higher than the honor and salary given to a government clerk.
Distributive justice is of utmost importance to insure the proper function of government and to
avoid the evils of nepotism, favoritism, influence peddling and etc.
Commutative Justice: This justice concerns the relations between private individuals. It
implies the duty of one individual to give another what is his due. To commute means to
14

exchange one thing for another as in the bartering system, or exchange material goods for money
as in our present economic system, or manual work for a just wage, etc. Strict equality must
prevail in all these exchanges and transactions. The president should pay for the pair of shoes he
orders. A soldier even at wartime should pay or the food he gets from civilians. Prices should be
just, i.e., equal to the value of the thing bought, according to common estimates and prevailing
economic conditions.
Social Justice: This kind of justice deals with the social aspect of poverty. The
mechanization of industries and trades in our days, the enormous increase of population and the
centralization of millions of human beings in large cities make it very difficult to distribute
material goods equally among the members of the community. And yet, justice should be done so
that all citizens should be given an opportunity for their physical, mental, and moral
development. There is no reason why large portions of society live in poverty while a minority
enjoys luxury. Today, most men depend upon one another for their daily subsistence and
economic welfare. If all members of the community-professionals and workers, employers and
employees- pool their energies in a common effort to survive, all of them should be entitled to a
proportional share in the fruits of their work.
Duties commanded by social justice: (1) Social justice is a virtue disposing workers and
management towards the establishment of good relations in order to avoid frictions and strikes.
(2) It directs employers in the allotment of just salaries, bonuses, dividends, compensation and
etc., to the employees. (30 It inspires legislators to enact laws protecting the welfare and security
of the working class. (4) It guides employers and employees in the process of negotiating
collective labor agreements. (5) It demands the participation of workers in the management and
profits of the company.
International Justice: International justice is concerned with the common welfare of all
nations. The main duties of international justice are the preservation of the world peace and the
promotion of economic progress, friendly relations, understanding and brotherhood among
nations. International justice is the principal objective of the United Nations.8

Values as a Basis for Morality

15

One of the sources of authentic, mature morality are ones values, those things in our
experience which are important and motivating, things like justice, loyalty and bravery. Values
are very basic in the life of any mature person and yet at the same time are quite mysterious. It is
easy to confuse them with other elements of human experience.
Human consciousness is a field of conflicting forces. Our human awareness does not reveal
static world of objects that stand at rest before us but rather a complex field of stresses where we
are pulled in opposite directions. We are drawn both inward toward ourselves, toward needs and
desires that call for satisfaction and at the same time outward beyond ourselves towards values.,
________________________
9

Moga, Michael D.,op.cit.,pp. 66-68.

realities of importance that demand our attention and response. There is tension and confusion in
human life as these two forces pulls us in opposite directions.
First of all, we are drawn toward ourselves. We have need and desire that call out for
satisfaction. It seems that there is a great emptiness within us that needs to be filled up. We desire
pleasure, food and love and these desires occupy our attention, leading us to seek objects which
might satisfy these desires. We have a need for security and we seek money and possessions in
the hope of filling that need. We need recognition from others and we seek popularity and fame
to satisfy that need. We need a sense of self-worth and we work to achieve status and power as a
means of filling that need. The demands from within us are strong and constantly pull us inward.
Values are a second force in human existence, pulling us in the opposite directions. These
realities of importance are experience to be coming from outside and drawing our attention and
response to something beyond ourselves. One person may sense the value of education and is
guided to spend years in the pursuit of learning. Other persons are so impressed by the
preciousness of human life that they dedicate themselves to the task of eliminating disease and
prolonging life. Family life is so important to some that they sacrifice personal satisfaction in
order to build a family as mothers and fathers. In many ways values appear in human life, calling
upon us to respond to something beyond ourselves.
Values come in many different forms. There are values of existence, social values, practical
values, esthetic values as well as moral values. The most basic are those which are inseparably
16

connected with human existence itself. We sense, for instance, that human life is precious and
deserves special respect and care. The health of ones mind and body appears to us important.
Connected with this value of life are the basic potentialities of life such as freedom and the
capacity to think and to love. These too are experienced as values. Social values are recognized
in the various forms of human society, in the importance of family, friendship and community.
Practical values are exemplified in the wide range of human skills. It is valuable to be able to
sing well or to cook well or to drive well. Beauty in all of its forms brings aesthetic values into
human life.
Moral values constitute a significant class of values. These are values which impose a moral
obligation on us. When we experience them we feel that we should or should not act in a certain
way. Loyalty, for instance, may be a value in our lives and because of that value we feel that we
should help our friends when they need it and we should not gossip against them when they are
present. The value of bravery may have been instilled in us when were young and so we feel that
we should face the pains of life fearlessly and should not run away.
Moral values seem to be based on more fundamental values. The moral value of respect for
others is present in our lives because human life itself is precious. The moral value here is based
on a value of existence. Similarly the moral value of honesty seems to be based on the social
value of a fully developed human society. Since it is very important to have a society where the
people trust one another and work together in that spirit of trust it follows that it is important for
individuals to be guided by honesty. The moral value of honesty thus arises out of the value of
society.9

17

CHAPTER III
SUMMARY, CONCLUSION AND RECOMMENDATION
Summary
The researcher wished to present the idea of Moral Principles in the Lives of the Filipino Today.
More specifically, the researcher sought, intended and attempted to answer the following
questions;
1. What is Morality?
2. What are some principles of Christian Morality?
3. How do other concerns in Morality affect the Filipinos?
Conclusion
After the researcher made the study in Moral Principles in the Lives of Filipinos Today following
conclusions are formed:
1. Morality is essential to Filipinos in nature because it is the conduct of what is good and
evil and for them (Filipinos) morality is very important.
2. Principles of Christian Moralityare said to be constant efforts to do things despite of
obstacles. For Filipinos virtues are very important like courage, honesty and etc. despite
of many reasons not to believe or live with these virtues, Filipinos continue to put them in
their lives. Example is in Philippines there are some cases that faith in humanity was
restored despite of life challenges.
3. Filipinos are known for their morals and for many being immoral is something that is
not accepted in culture. Morality really affects Filipinos in one way or another.
18

Recommendations:
1. The next generation of Filipinos must be taught to live and abide by these moral
principles or have morals.
2. Filipinos must continue to live with the virtues by deed or word and never falter with
challenges that will come their way by strengthening their faith. They must not lose their
morality.
3. Filipinos must continue to teach the young ones and themselves the value of morality so
when time comes morality will be an important matter to them and will live with.

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BIBLIOGRAPHY
1. Bilbao, Purita P. (2006). The Teaching Profession. Manila: Lorimar Publishing Inc.
2. Moga, Michael D. (1993). Toward Authentic Morality: An Ethics Textbook for the
Philippines. Quezon City: National Book Store, Inc.
3. Panizo, Alfredo. (1964). Ethics of Moral Philosophy. (Manila: Novel Publishing Co., Inc.
4. The New International Websters Comprehensive Dictionary of the English Language:
Encyclopedic Edition. (2003). Columbia: Typhoon International Corp.
5. Thiroux, Jacques P. (1990). Ethics: Theory and Practice.

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