Professionalism And Ethics/teamwork Flashcards
Director resigns from position in company because of insider trading is displaying…
Accountability
What is the STAGE that the team assigns unrelated members where they achieve common aim?
Forming
What factors influence whether team achieves synergy?
Beliefs, diversity, prejudice.
What characteristic of a customer would you consider in a professional employee?
Respectful and knowledgeable about the business they work in.
A BOXER EMPLOYEE provides confidential information/trade secrets is practicing:
Insider trading
When an employee reveals information within a private/public organization that’s deemed illegal or immoral is…
Whistle blowing
The increase in price of collection of goods and services over a period is..
Price inflation
An illegal activity where an employee deliberately avoided paying tax is…
Tax evasion
THREE factors that successful teams have in common?
- They have synergy
- Good communication within team to achieve common goal
- CHALLANGE their ideas, brainstorm potential ideas where they share ideas to overcome the problems to work together to ACHIEVE GOAL.
What is the forming stage of a team development?
Management identifies individuals to form a team that shares common goal.
THREE pitfalls of teamwork:
- Commitment vs avoidance = WASTE OF OPERATIONAL TIME
- Challanger vs challenging = MEMBERS COULD LEAVE
- UNETHICAL BEHAVIOR = BECOME TO FIMILIAR WITH EACHOTHER (eg: insider trading, inappropriate gifts)
How does PREJEDUCE, CULTURAL DIVERSITY, and VALUES positively contribute to performance of the team?
- PREJEDUCE= people from different backgrounds that experience PREJEDUCE create a spark for change in a team and bring people closer (SYNERGY)
- CULTURAL DIVERSITY= through different beliefs, it can create awareness and spark communication that leads to RESPECT.
- VALUES= the CODE OF CONDUCT shows how everyone must have shared values. Creates a safe, hardworking space with boundaries, where it creates a closer team that respects eachother and their shared values.
Legally binding document:
Protected by law
What fee does a franchise have to pay every month ?
A ROYALTY FEE = a MONTHLY REOCCURING FEE that the **franchisee pays pays to the franchiser after buying the franchise. **
What are the factors that make the CONTRACT between you and franchise a LEGALLY BINDING DOCUMENT?
- Both parties must have equally decided on the terms and conditions of the contract, and what is the consequence when the contract is breached.
- (Sound mind, possible, reputation, contractual capacity= 18 yrs or older, legal) = both parties must be reasonable and agree to the contracts content.
What is a “national franchise opportunity” and what goes into the franchise agreement?
National franchise opportunity = taking on management of an EXISTING company branch in South Africa (nation)
A franchise agreement should include clauses pertaining to LOCATION, DURATION, OPERATION, FEES, AND USE OF INTELLECTUAL PROPERTY. professional legal advice is necessary as this is long and important contract.
What SIX elements are in the contract of employment that is between the franchisers and their employees?
- Name and address of both parties
- Job title and responsibilities
- Leave details
- Remuneration/salary fee
- Consequence when breach of contract
- Code of Conduct
What is a contract and what are the 2 parties doing?
It’s a written document or verbal agreement that’s LEGALLY BINDING between 2 or more parties.
1 person is making an offer, the 2nd is accepting the CONTRACT
What are the 5 contractual obligations and give a definition:
- CONTRACTUAL CAPACITY: (legally allowed to enter contract =18 or older)
- SOUND MIND: (don’t suffer from any mental illnesses)
- REASONABLE: (conditions of contract is reasonable)
- POSSIBLE: (activities in contract must be physically possible to achieve
- LEGAL: (duties carried out from contract must be legal and ethical)
A breach in the contact occurs when:
- If (Reasonable, contractual capacity, legal, sound mind, possible) NOT MET
- If Parties fail to fulfill requirements in contract
- If False/misleading info in contract
- If Requirements unclear to one of the parties
BCEA:
Basic Conditions of Employment Act (prohibits employment of anyone under age of 15= requires employer to verify age of domestic worker with a copy of birth certificate)
Organizational culture:
Common perception of business regarding what’s right vs wrong and acceptable vs unnacceptable behavior
Insurer vs insured:
INSURER: Carries risk and protects insured against possibility of loss
INSURED: protects assets against loss. Pays monthly payments to insurer to transfer the risk
(Eg: car insurance)
Lessor vs lessee:
LESSOR: owner of goods
LESSEE: Uses goods agreed on, but GOODS DONT BECOME PROPERTY OF LESSEE!!
