Ethics and Social responsibilities

Question 1

names the four ethical and responsibilities

Answer 1

Fairness/honesty
respect for the people
conflict of interest
financial management

Question 2

Explain Fairness/Honesty

Answer 2

Managers must obey all laws and regulations. As well, society expects managers to tell the truth and avoid using misleading or deceptive information

Question 3

Explain Respect for people

Answer 3

If managers treat their staff with respect, then you would also expect employees to act ethically.

Question 4

explain conflict of interest

Answer 4

occurs when a person takes advantage of a situation or piece of information for his or her own gain rather than for the employee’s interest

Question 5

Explain financial management

Answer 5

organisations have ethical and legal responsibilities in relation to financial management.