T2: t5: Professionalism And Ethics Flashcards
1
Q
Meaning of ethical behaviour
A
- refers to acting in ways consistent with what society and individuals think are good values
- expected from every employee in the business
- means that highest legal and moral standards are upheld when dealing with stakeholders
2
Q
List four examples of ethical business practices
A
- using fair advertising
- treating all employees equally
- paying fair wages
- operating within the law
3
Q
List four examples of unethical business practices
A
- unfair advertising
- tax evasion
- sexual harassment
- unauthorized use of workplace funds and resources
4
Q
List and explain the principles of ethics
A
- be trustworthy: customers want to do business with organizations that they can trust
- meet obligations: honour all commitments and obligations
- community involvement: remain socially responsible in the community in which the business operates. In return, this could lead to positive publicity, loyalty and respect from the community
- accounting control: managers must gain control of record keeping, avoiding fraudulent acts and corruption
5
Q
List three theories of ethics
A
- consequential theory
- common good approach
- rights based approach
6
Q
Explain the consequential theory
A
- is linked to consequence-based theory, it focuses on the consequences of an action
- an act should be judged based on the effect it has on others
- something “useful” needs to come from an ethical action
7
Q
Explain the common good approach
A
- focuses on ensuring that business values and ethical principles are in line with the society in which the business operates
- recognizes that ethics and values vary from country to country and area to area
8
Q
Explain the rights-based approach
A
- focuses on whether the decision is right or wrong
- focuses on processes and outcomes
- works toward the outcome and process goals
- recognizes that rights can be realized with empowerment
9
Q
List four advantages of ethical business ventures
A
- build customer loyalty: strong customer base reduces marketing cost to acquire new customers
- attracts more investors, thereby increasing profitability
- creates more positive business image and attracts more customers
- retain good employees by compensating fairly for their work and dedication
10
Q
Meaning of code of ethics
A
- written set of guidelines issued by the organization to its workers and management to help them conduct actions in accordance with primary values and ethical standards
- outlines mission and values of business
- defines values by which a business will function and provides a guideline for employees when making decisions
11
Q
List four suggested responses for evaluation of the code of ethics
A
- use clear language to make code user friendly
- right people should be employed
- training should be offered to enforce ethical principles
- example of good ethical behavior is set
12
Q
Explain the different perspectives on ethics
A
- there’s no absolute right or wrong when it comes to ethics as societies decide on acceptable behaviours
- different cultures have different rules of conduct
- business is entitled to decide what kind of behaviour it demands from it’s employees
- this is where a code of ethics is useful
13
Q
Meaning of professional behaviour
A
- professionalism is the term used to describe a certain standard of behaviour, a specific level of competence and adherence to an ethical code of conduct
- behaviour is suitable for the profession done for payment
- includes showing respect for others, taking responsibility for your work and performing according to a job description, etc.
14
Q
List four examples of professional business practice
A
- good use of work time
- treating all people the same
- using polite language to colleagues
- dressing appropriately
15
Q
List four examples of unprofessional business practice
A
- abuse of work time
- giving some people special favours
- using rude and impolite language
- inappropriate dress
