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Summary IEB business studies book summarised into 37 pages $9.30   Add to cart

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Summary IEB business studies book summarised into 37 pages

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I have taken a book of 230 pages and summarised it into 37 pages long. It was also written according to the 2020,2021 and 2022 SAGS document. No extra info all relevant

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  • November 4, 2021
  • 36
  • 2021/2022
  • Summary
  • 200

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Business
Chapter 1: Conflict Management

Teamwork and Conflict Management

● Good team dynamics = good communication, less misunderstandings therefore less
conflict

Conflict often occurs due to allocation of workload. It is inevitable

Problems that occur:
1. Role overload = one member of team takes on more than they can cope with
2. Role conflict = more than one member wants to be a certain role
3. Role ambiguity = lack of clarity between roles

Conflict Management:
Types:
1. Functional: non-aggressive, stimulates creativity allowing ideas to flow
(brainstorming). Work together to find a solution. Outcome = positive, higher
productivity.
2. Dysfunctional: aggressive, refuse to work towards solution, task compromised,
reduced productivity, waste of valuable human capital resources.
Advantages and Disadvantages:
Advantages:
1. Aid in creating awareness of a problem, that can benefit the business
2. Stimulate creative thinking
3. Help people understand a problem better, learn from each other
4. Lead to collaboration, focus shifts to work together by encouraging ownership +
commitment
5. Motivate to give input, get involved, participate in a situation where felt apathetic
Disadvantages:
1. Hamper productivity, lower morale
2. Can lead to inappropriate behaviour
3. Distract from critical issues and lead to poor quality of decision making
Reasons:
1. Change
2. Inclusivity and cultural diversity
3. Poor communication
4. Resource allocation
5. Personalities and emotions
6. Values and Ethics
7. Inner conflict
1.1 Change: Resistance to change create conflict, poor change management
( give examples when explaining)
1.2 Inclusivity and cultural diversity: Ubuntu vs western culture, ignorance, SA
= multi cultural environments,, stereotyping, different backgrounds and
cultures.

, 1.3 Poor communication: employees not informed about decisions=
uncertainty. Uncertainty w/ expectations from poor defined job descriptions.
Poor listening skills, communication barriers from organisational structure to
hierarchical = ambiguity, role overload as they don’t understand the actual
job.
1.4 Resource allocation: insufficient resources, unequal distribution of
resources = stress on employees. Interdependence in org link to resource
allocation (departments waiting for eachother). Employee not having right
skills or abilities that is expected of them
1.5 Personalities and Emotions: different personality types lead to conflict.
Type A = workaholic, high expectations, impatient.
Type B = easy-going, no urgency.
1.6 Values and ethics: personal set of beliefs that guide actions. Differ in
people, links to culture and religion.
1.7 Inner conflict: Bring past experiences.. Perception differs. Jealousy,
feeling inferior, want constant approval, need to control, personal morals and
beliefs, oversensitivity, low self-esteem
Resolve inner conflict:
1. Identify inner conflict
2. Refer person to correct department
3. The extent of the issue and effect.
Skills a manager needs

1. Ability to deal with change- understand people (anxiety)
2. Tolerance regarding inclusivity and cultural diversity ( No stereotyping) -educated
3. Communication skills- regular meetings
4. Ability to think and act strategically- develop shared vision
5. Emotional intelligence to deal with different people- person's ability to manage
relationships, asking why and how
6. Values and ethics- training and open communication
Recommendations for conflict management
1. Stimulate functional conflict: programmed conflict= criticises proposed plans to get
analytical thinking. Stimulate debate and different opinions
2. Negotiation, if fails conciliation or arbitration.
3. Smoothing, temporary method, differences ignored focus on commons. Conflict can
rise again
4. Forcing, person of authority forces their solution. autocratic
5. Avoidance
6. Compromise, democratic, can worsen conflict over time. One compromise more than
the other

Conflict management- Third party intervention

Step 1: Negotiation, two parties
Step 2: Conciliation, three parties, facilitate discussion
Step 3: Mediation, give advice
Step 4: Arbitration, third person makes judgement call

,Con-arb process: One step process of conciliation and arbitration for unfair labour practices
affecting individuals. Continuous action in one day, saves time + costs. Compulsory in
matters with probation.

CCMA:
● Commission for Conciliation, Mediation and Arbitration
● Independant org
● A dispute resolution body that promotes cooperation between employers and
employees
● Prevents labour unrests, promotes productivity in economy
● Settles labour-related disputes
● Through conciliation, medication and arbitration
● Can be involved for workplace restructuring, provide training and advice
Workplace Forums:
● WPF
● Trade union apply 2 CCMA for WPF be est.
● Enables workers at all levels to participate in consensus decision making w/ senior
management
● Increase efficiency in workplace
● Certain issues where management consults with WPF
○ Criteria for merit increases
○ Restructuring of workplace
○ Retrenchments
○ Training issues
● Management + WPF make joint decisions : Disciplinary procedures and affirmative
action
● No consensus decision achieves go to CCMA
Employers organisations:
● Give members with a Labour +/or Industrial Relations expert when required on a
contractual basis of one or two days per week.
● Bus outsource this element of HR
● They stay up to date with amendments in labour legislation, NAPE, COFESA and
NEASA
● Small businesses can't afford such, hence why this was created.
● Help on issues:
○ Employment contracts
○ Disciplinary and grievance procedures
○ Dispute resolution
○ Employment equity plans
○ Representation at the ccma
○ T.U negotiations
● Some work with specific industries
Trade Unions:
● Organisation formed to protect the rights and interests of the members it represents
in particular industry or trade

, Chapter 2: Professionalism and Ethics

Questions to think about as a manager w/ decision making
1. What is the law and do I agree with it
2. What about choices regarding economic and social issues not covered by law
3. Issue of self interest vs. interest of the business
Ethical issues in corporate
1. Conflict of interest:
a. Person involved in multiple situations that work against each other
b. Manager dating employee, employee personally sells company goods,
employee work part-time for competition, nepotism.
2. Bribes, Corruption and Inappropriate gifts:
a. Gift to persuade to act in their favour = bribe
b. Corruption = misuse of public power for private gain
c. Inappropriate gifts = sexual harassment
3. Sexual harassment:
a. unwelcome/uninvited sexual advances, physical + verbal
4. Unauthorised use of funds:
a. Fraudulent invoices
b. Forged signatures
c. Unauthorised electronic payments
d. Skimming accounts
5. Tax Evasion
a. A person does not disclose all income and lies to SARS
6. Unfair advertising:
a. False labelling
b. Hidden fees
c. Misusing the word “free”
d. Fillers
e. Misleading illustrations
f. Bait and switch
7. Employment/labour issues:
a. Internet, email and phone issues (porn, forwarding silly things, spreading
false info, confidential info)
b. Stealing from company
8. Pricing of goods in spaza shops (CPA makes it illegal to inflate prices in rural areas) (
Competition Board protects consumers against price fixing by large suppliers)
9. Insider Trading:
a. Illegal buying and selling shares on stock exchange with advantage of having
insider access to confidential info
10. Piracy:
a. Unauthorised and illegal duplication of products protected by copyright
11. Counterfeit/Bootlegging
a. Counterfeit: copying a product and saying it is original
b. Bootlegging: illegal distribution of product (alcohol)
12. Firing employee for whistle-blowing
13. Sharing confidential info or trade secrets
14. Terminating employment without proper procedure

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