Business Roles: Professionalism and ethics

Ethical Behaviour

Set of values that are morally acceptable when conducting business.
Set of standards of expected behaviour between the employers, employees and business partners.
Business practices that are acceptable to the group/community.
Inherently forms part of the employees' code of conduct.
Developing a moral compass to use in decision making.
Seeks to avoid harm while promoting benefit to others.

Professional Behaviour

Professional behaviour is a certain standard of behaviour/specific level of competence that adheres to an ethical code of conduct.
It is a behaviour suitable for a job/profession done for payment.
It includes showing respect for others/take responsibility for your work/performing according to a job description etc.

King code principles

Transparency
Accountability
Responsibility

Transparency

•Regular audits should be done to determine the effectiveness of the business.
•Auditing and other reports must be accurate/available to shareholders/employees.
•Business deals should be conducted openly so that there is no sign of dishonesty/corruption.
•Staffing and other processes should be open and transparent.
•Employees/Shareholders/Directors should be aware of the employment policies of the business.

Accountability

•Company should appoint internal and external auditors to audit financial statements.
•Businesses should present accurate annual reports to shareholders at the Annual General Meeting (AGM).
•There must be regular communication between management and the stakeholders like shareholders.
•The board should ensure that the company's ethics are effectively implemented.
•Businesses should be accountable/ responsible for their decisions/actions.
•Top management should ensure that other levels of management are clear about their roles and responsibilities to improve accountability.

Responsibility

•The business/ board should develop and implement programmes that should be aimed at protecting the communities in which they operate.
•The business/ board should develop remedial programmes to protect the environment for example, reduce air and water pollution.

Ways in which professional, responsible, ethical and effective business practice should be conducted

•Refrain from starting a venture using other businesses' ideas that are protected by law
•Mission statement should include values of equality/respect.
•Treat all their employees equally, regardless of their race/colour/age/gender/disability etc.
•Employers should respond swiftly and fairly to reported incidents of discrimination in the workplace.
•Plan properly and put preventative measures in place.
•Orders / Tasks should be given respectfully and allow the recipient/employee to have a say in the manner in which the task should be performed.
•Treat workers with respect / dignity by recognising work well done.
•All workers should have access to equal resources.
•Pay fair wages/salaries which is in line with the minimum requirements of the BCEA/Remunerate employees for working overtime.
•Ensure that employees work in a work environment that is conducive to safety/ Fairness/free from embarrassment.
•Engage in environmental awareness programmes/Refrain from polluting the environment, e.g. by legally disposing of toxic waste. •Training/Information/Business policies should include issues such as diversity/ discrimination/harassment.

Unethical business practices challenges

Unfair/dishonest advertising
Prices of goods in rural areas
Tax evasion

Unprofessional business practices

Sexual harassment
Unauthorized use of workplace funds and resources
Abuse of working hours