TERM 1 Topic 1.3 - Ethics & Professionalism Flashcards
What are the 7 CHARACTERS of good corporate governance called
AND
Name them
The King Code
F - Fairness
I - Independence
R - Responsibility
S - Social responsibility
T - Transparency
A - Accountability
D - Discipline
Study tip: FIRSTAD
A waiter was rude to a patron who insisted on getting coffee for free with his meal.
Is this scenario UNETHICAL or UNPROFESSIONAL?
Unprofessional
An accounts clerk gave a list of all her business customers’ names and telephone numbers to a friend who is trying to build her financial consulting business.
Is this scenario UNETHICAL or UNPROFESSIONAL?
Unethical
Read scenario on PAGE 22 (Question 2)
Explain which KING CODE PRINCIPLE is being breached, why this practice is unethical and how the business can rectify this
TRANSPARENCY principle is breached
Read on PAGE 152 (NO 2)
Discuss any SIX ways that an organization can behave in an ethical way
- follow a code of ethics & code of conduct
- pay all taxes and on time
- make all information available to
shareholders - act strongly against sexual harassment
- create a safe working environment
- offer fair prices in all areas
- pay fair wages to staff
- don’t take someone else’s idea and make
it your own - advertising and marketing should be fair
and clear
Provide a term for the following ethical challenge:
Not declaring all the income to avoid paying higher taxes, or paying an employee in cash and not declaring it
Taxation
Provide a term for the following ethical challenge:
Making suggestive remarks to a good looking employee and making them feel uncomfortable
Sexual harassment
Provide a term for the following ethical challenge:
Charging more for the same goods in rural areas
Pricing of goods in rural areas
Provide a term for the following ethical challenge:
Placing misleading photos of an item for sale and then not having that item available in store
Unfair advertising
Provide a term for the following ethical challenge:
Putting a family weekend’s expenses through the books of the business a sa business expense
Unauthorized use of funds
Provide a term for the following ethical challenge:
Organizing your mother’s birthday during office hours, using the office computer and printer for the party invoices, the phone to make all the bookings and posting the invites through the business postal service
Abusing work time
Provide a term for the following ethical challenge:
Employing labourers ‘off the street’ without a contract and paying them less than the minimum wage to save costs on a project
Paying fair wages
