Roles [ethics and professionalism]

Question 1

Ethical behaviour

Answer 1

• includes the acceptable/ moral principles of right and wrong
• it determines human behaviour
• good ethics make businesses more competitive
• unethical behaviour can lead to legal action and may damage the name of the business

Question 2

Moral values

Answer 2

• equality
• honesty
• truth
• integrity
• co-operarion
• self regulatory
• responsibolity
• fairness

Question 3

Professional behaviour

Answer 3

• exactly what professional behaviour entails will depend on the specific work context
• there are many professional boards that dictate specific behaviours for people working with in particular professions

Question 4

Principles of professionalism

Answer 4

• respect yourself and the dignity and rights of others
• respect the image of the business
• act with integrity/honesty/reliability
• be committed to quality
• share your knowledge and experience

Question 5

code of conduct

Answer 5

• is a set of guidelines on how employees should behave in the workplace

Question 6

code of ethics

Answer 6

is a set of guidelines that outlines the businesses and stakeholders commitment to ethical and professional behaviour and guide the morals and ethical practices of the business and its employees

Question 7

stakeholders

Answer 7

are those who have an interest in the business and are affected by it, such as the business’s owners or shareholders, mangers and other employees, suppliers, ciliates or customers, intermediaries and members of the community

Question 8

King Code Principles

Answer 8

1. Disciple: it is responsibility of leaders to act in a correct way and to execute their duties in the correct way
2. Transparency : conduct businesses activities in an open manner without hidden motives or withholding information
3. independence : ability not to be influenced and to act in an honest manner
4. accountability : recognise and accept responsibility for your actions, duties and decisions
5. responsibility: accountable for your decisions and actions
6. fairness : all actions and decisions must be impartial and free from preferences, dishonesty and bias
7. social responsibility: take cognisance of the needs of the community

Question 9

King code

Answer 9

is a set of guidelines for good businesses practise laid out by the three King Reports on Corporate Governance

Question 10

Reasons for implementation of King Code

Answer 10

• the Code represents a framework within which corporate risk can be addressed
• the Code gives a complete description of how to deal with corporate issues
• to prevent the occurrence of corruption and unethical business practices

Question 11

Addressing ethical and professional issues

Answer 11

• establish a corporate value system
• create code of conduct, drawing established principles of ethical and professional conduct for employees
• create a code of ethics that outlines how the business and stakeholders should do business and make decisions in the ethical and professional manner
• familiarise employees with the code of conduct and the code of ethics