business studies

Practical examples of ethical business practices

Using fair advertising

Paying fair wages

Unethical business practices

Unfair advertising

Taxation/tax evasion

Professional business practices

Good use of work time

Treating all people the same

Unprofessional business practices

Abuse of work time

Using rude impolite Language

Ethical vs professional behavior

Ethical

Conforms to a set of values that are morally confirmed

Forms part of a code of conduct to guide employees to act ethically

Professionally

Set of standards of expected behavior

Applying a code of conduct of a profession or business

Application of king code principles (transparency)

Decisions must be clear to all shareholders

Staffing and other processes should be open and transparent

Application of king code principles(accountability)

Regular communication between management ans stakeholders

Business should be responsible for their decisions

Application of king code principles(responsibility)

Develop programs aimed at protecting the community

Develop radial programs to protect the environment

Ways business practices should be conducted?

Mission Statement should include values of equality/respect

Treat workers with respect/dignity by recognizing work done well

Treat workers with equality

Treat workers with equality

Poses challenges to businesses (unfair advertising)

Could be harmful to consumers

Business can make unwise advertising choices

Strategies dealing with unfair ads

Consumers must report unfair ads

Business should be encouraged to be fair and in line with the constitution

Ways to deal with pricing in rural areas

Work together with suppliers to share delivery costs

Charge fair market related prices

Ways to deal with tax evasion

VAT charged only on VAT able items

Correct tax returns to SARS

Affections of sexual harassment

The affected party may avoid work

Businesses can lose female employees

Dealing with sexual harassment?

Educate employees on sexual harassment

Formulate a policy regarding sexual harassment

Consequences of unauthorized workplace funds

Discourages investors as fraud and corruption

Experience substantial loss

Ways to deal with unauthorized work place funds

Conduct regular audits

Educate employees about the impact of fraud

Challenges posed by abuse of work time

Losing customers and not meeting deadlines

Wasting costs the business

Dealing with abuse of work time?

Speak directly to employees who abuse worktime

Monitor employees to ensure business tasks are completed on time

Decision making vs problem solving

D

Often done by one person

Alternatives are considered before deciding on the best one

PS

Solved by a group

Alternative solutions are generated

Problem solving techniques and applications?

Identify the problem

#Identify the exact problem

Define the problem

#Define the possible causes

Identify alternative solutions

#Identify all different solutions

Evaluate possible solutions

#Ads and disadvantages of each

Choose the best

#Identify which solutions will be used

Develop an action plan

#establish an action plan

Implement action plan

Application of Delphi technique

Invite panel of experts

Don’t have to be in one place

Summarize responses