Professionalism and Ethics

Organisational culture

common perception amongst employees of a business regarding what is right vs wrong and acceptable vs unacceptable behaviour

Ethics are…

the moral principles and practices that guide a business's decisions and actions

Unethical business practices:

• Exploiting workers

• Misleading customers

• Environmental Harm

What makes contract legally binding ?

• Contractual capacity - person is legally allowed to enter into contract (i.e in South Africa person has to be 18)

• Sound Mind - person entering into contact does not suffer from any mental illnesses

• Reasonable - conditions of contact have to be reasonable

• Legal - duties carried out as part of the contract must be legal

• Possible - activities that form part of the contract must be physically possible to achieve

Types of Contacts:

1. Employment contracts: an agreement between employer and employee

2. Insurance contracts: between two parties namely the insurer and the insured

3. Lease Agreements: between a lesser (owner of goods) and lessee

4. Instalment sale contracts: exist when seller allows buyer to:

   • Pay deposit and immediately take possession of goods

   • Pay code off in monthly instalments

   • ownership transfer to buyer when last instalment is settled

5. Rental agreements: between landlord and tenant where tenant rents property from landlord

6. Franchise agreements: between franchiser (owner of business concept) and franchisee (person who pays to use business concept to generate income)

Self-Management…

includes personal development, time management, stress management, and effective communication