professionalism and ethics

Question 1

what are the 5 ethical theories

Answer 1

1. consequence based theory
2. principle based theory
3. narrative based theory
4. utilitarian theory
5. virtue based theory

Question 2

what is the consequence based theory

Answer 2

consequence of an action determines whether the action is right or wrong

Question 3

what is the principle based theory

Answer 3

one’s principles or values will determine whether the action is right or wrong

Question 4

what is the narrative based theory

Answer 4

different narrative/ stories used to lead to an understanding of the difference between right and wrong

Question 5

what is the virtue based theory

Answer 5

character of a person is judged rather than their actions

Question 6

what are business ethics

Answer 6

study of how personal values and principles are applied in a business situation

Question 7

what are questions a manager should consider when making s business decisions

Answer 7

what does the law say and do we agree with this law

self interest vs interest of the business

Question 8

what is neptism

Answer 8

favour family, relatives, people you know over and above people for employment, contracts tenders etc

Question 9

what are ethical issues

Answer 9

• conflict of interest
• innapopriate gifts
• sexual harassment
• unauthorised payments
• past moral justices
• internet, email and cellphone issues
• stealing from the company
• firing an employee for whistle blowing
• insider trading
• piracy
• counterfeiting and bootlegging
• unrealistic pricing
• tax evasion
• unethical advertising

Question 10

why does a business need ethics

Answer 10

1 regulate impact of actions on society
2 requirements of stakeholders
3 avoid bad publicity or situations that will disadvantage the business
4 religion might provide an incentive for a business to act in an ethical manner
5 businesses need to be able to act responsibly without law ( in context of deregulation)
6 contribution to creation of good society
7 global set of moral values shared by all businesses

Question 11

what are the two spheres of society and how does this affect ethics

Answer 11

private sector- financial and accounting ethics, accounts need to be audited , no price fixing

public sector- anti corruption

Question 12

what does the code of conduct for members of parliament include

Answer 12

guidance for all public servant when they experience a conflict of interest or any other ethical dilemma when making decisions

must disclose conflict of interests

Question 13

what are the 5 levels of business ethics

Answer 13

1. individual level
2. organisational level
3. professional level
4. societal level
5. international level

Question 14

what is unethical on an individual level

Answer 14

cheat on expense account, call in sick when you arent actually sick, accept a bribe, plagiarism

Question 15

what is unethical on an organisational level

Answer 15

ask employee to perform illegal or unethical act for profit

asking people to overlook wrongdoings in interest of business image

Question 16

what is unethical on professional level

Answer 16

when a professional does something that will benefit him not his client

Question 17

what is unethical on a societal level

Answer 17

go between payments

trading on religious holiday

Question 18

what is unethical on an international level

Answer 18

companies involved in countries that violate human rights

economic sanctions on certain countries may lead to difference of opinions of ethics

Question 19

what is a code of ethics

Answer 19

should explain the values, ethics and beliefs on which the profession or organisation has based its policies, lays down standards of acceptable behaviour

Question 20

what is a professional code

Answer 20

gives customer sense of protection and confidence

Question 21

what is the difference between a code of ethics and a code of conduct

Answer 21

code of ethics is an umbrella concept about morals, principles and values

code of conduct regulates behaviour