Professionalism And Ethics [6] *G10

Question 1

Organisational culture explained

Answer 1

Common perception among employees regarding values and behaviour

Question 2

How is ethical behaviour established in a business (3)

Answer 2

-recruitment of ethical people
-management should lead by example
-constantly reminding employees of desired behaviour

Question 3

Unethical behaviour regarding marketing
(5)

Answer 3

-materialism - false needs created
-deceptive names
-competitive advantage (illegal)
-unacceptable language/discrimination
-decieving consumer

Question 4

Contact definition

Answer 4

A written document or a verbal agreement that’s legally binding between 2+ parties

Question 5

Legally binding definition

Answer 5

Court forces parties involved to honour contract

Question 6

Elements that make a contract legally binding (5)

Answer 6

-contractual capacity
-sound mind
-reasonable
-legal
-possible

Question 7

Explain contractual capacity

Answer 7

Person legally allowed to enter contract
18+

Question 8

Explain sound mind

Answer 8

Person doesn’t suffer from any mental illness

Question 9

Explain reasonable

Answer 9

Conditions must be reasonable

Question 10

Explain legal

Answer 10

Duties carried out are legal
No unlawful activities

Question 11

Explain possible

Answer 11

Activities must be physically possible to achieve

Question 12

A breach in a contract occurs when
(5)

Answer 12

-any requirements compromised
-party failing to fulfill requirements
-false or misleading information
-forced to/tricked to sign a contract
-requirements unclear

Question 13

Name the types of contracts
(6)

Answer 13

-employment
-insurance
-lease agreement
-instalement sale contract
-rental agreement
-franchise agreement

Question 14

Explain employment contract

Answer 14

An agreement between employer and employee where
-employee performs duties to meet deadlines
-employer remunerated employee for work

Question 15

What’s some employment contract information
(5/9)

Answer 15

-name and address of both parties
-job title
-job description and responsibilities
-remuneration structure
-leave details
-notice period
-code of conduct

Question 16

What’s an insurance contract

Answer 16

-insurer (company) carries the risk and protects insured against possibility of loss
-insured protects their assets against potential loss
Montly payment

Question 17

What’s a lease agreement

Answer 17

lessee uses goods for an agreed monthly fee but goods NEVER BECOME PROPERTY OF LESSEE

Question 18

Explain instalment/hire purchase agreement

Answer 18

Buyer:
-pays deposit
-immediately takes possession of goods
-pay off goods in monthly installments
-ownership only transferred after last installment is settled

Question 19

What’s the NCA

Answer 19

National Credit Act helps protect the rights of both parties to enter an installment sale contract

Question 20

What’s a rental agreement

Answer 20

When a tenant rents property from a landlord
-tenant pays monthly amount
-rented property never becomes property of the tenant

Question 21

What’s the RHA

Answer 21

The Rental Housing Act looks after the rights of both parties involved in a rental agreement

Question 22

What’s a franchising contract

Answer 22

-When franchisor provides training and allows franchisee to use business concept
-Franchisee promises to pay a sum for the use of the business concept

Question 23

Self knowledge definition

Answer 23

Knowing oneself and understanding what drives personal motivation

Question 24

Self confidence definition

Answer 24

The level of trust one places in one’s ability in one’s ability to perform a particular task

Question 25

Adaptability definition

Answer 25

A person being flexible around different situations and tasks
Adaptable = more likely to accept change