Summary Colorful and Thorough Business Notes Chapter 1-11
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Course
Business Studies
Institution
12
My document has been in work since grade 11 and the first covid wave, since then I have written 3 sets of exams and studied from these notes and were therefore regularly updated and recent. The notes have flow charts, pictures and Diagrams for visual learners and plenty of notes for other types of ...
Business notes Chapter 1
● Types of teams
● Informal
● Formal
● Team Roles
- The Aim
- The size of the team
- Expected life span of the team
- Strengths and weakness of each member
- Available resources
- Accountability
Team Process
, ● Forming
● Storming ( thinking )
● Norming ( Starts to gel )( Jobs are allocated)
● Performing
● Adjourning ( When task is completed or can’t be done ( Breaking up of team) )
Problems may arise from
Lack of communication
Lack of strong leadership
Personality differences
Not having the correct skills or resources
No goals
Bad role allocation
Lack of commitment
Synergy is important so teams can be effective and efficient ( Optimal Cooperation )
Chapter 2
Professionalism and Ethics
● Code of Ethics ( Morals and principles and values of the company)
● Code of Conduct (Specific behaviour required in the business)
● Image - Well groomed, neat dress code,
● Communication - What is appropriate and what’s not, Use names and turn phones off
in meetings. General etiquette
● Actions - Professional manner, conduction, behavior, your actions are associated with
the business image.
● Working Environment - Professionalism, Neat and tidy
● Respect - Rainbow Nation it is important to respect others, Culture, beliefs, and gender
Ethics
● What is correct and seen as right in the public's eye
● Moral Absolution There is only one ethical solution
● Consequence based theories - States whether the action is right or wrong
● According to principle based theories - Predetermined rules
● Narrative based theories
, ● Utilitarianism - whatever is done should be done for the greatest good
Ethical Theories
● Consequence based theory
● Principle Based Theory
● Virtue based
● Narrative Based
● Utilitarian
Ethical Issues in the Corporate World
● Moral Conflict
● Conflict of Interest
● Inappropriate gifts
● Sexual Harassment
● Unauthorised use of gifs
● Internet and cell phone issues
● Stealing from the company
● Piracy
● Counterfeiting
● Bootlegging
● Unrealistic Pricing
● Unethical Advertising
● Tax Evasion
Why Business Ethics are needed.
● This gives the business more reason to help employees achieve a balanced life
● Businesses are more likely to act ethically by looking after the well being of their
employees
● By serving stakeholders the business benefits too
, ● By introducing an ethics programme it creates a professional image around the business
● By introducing ethics a company is likely to be exposed to globalisation and crossing of
national boundaries
● Public Sector of Ethics
- Focuses on the interest of society
● Private Sector
- Focuses on Business Ethics
● Levels
- Individual Level
- Calling in sick when you’re not actually
- Organisational Level
- Cheating on an expense account
- Professional Level
- Lays the ground of behaviour
Code Of Ethics
- This defines morals, principles and values that the organisation follows
Code Of Conduct
- This is more specific because it defines the expected behaviour of the employees
Chapter 3
CSR and Corporate Governance
● Stakeholders - Someone who is affected in anyway from the actions of your business,
community, schools, competitors
Reasons for CSR
- Society is encountering more social - economic problems
- Government is less likely to enforce CSR through legislation
- Promotes image and good will
- Creates jobs and improves the living standards of the local community
- Other economic benefits
- Employment equity
- BBBEE ( Broad Based Black Employment Equity)
- Past Inequalities in SA ( Apartheid)
- Dualistic Economy
- Years of Struggle against Apartheid
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