Summary Ethics and Professionalism Notes IEB/DBE Business Studies
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Course
Business Studies
Institution
12
Book
Cambridge IGCSE and O Level Business Studies 5th edition
This set of notes cover the IEB/DBE topic of Ethics and Professionalism. They include pictures and are in-depth notes. These will be a sufficient source to study this section and prepare for your final Business Studies Exam.
Note: These notes are recommended for IEB students - as some information...
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Ethics and
Professionalism
IEB Business Studies
Nicola Waite Nikkiwaite2@gmail.com
, Nicola Waite Business Studies May 2021
Ethics and Professionalism
What is ethics?
Ethics is the study of how personal values and principals are
applied.
What is professionalism?
Professionalism is how you walk, talk, act and conduct yourself
in your work life, with commitment and enthusiasm.
What is Good Business Practice?
Good business practice refers to professionalism, accountability
and ethics of a business.
Professionals are guided by codes with predetermined consequences
Unethical actions aren’t always illegal but illegal actions are always unethical.
Ethical theories
• Consequence based – consequence of the action
determines whether it is right or wrong
• Principal based – one’s values will determine what is
right or wrong. Strong moral and personal boundaries.
• Narrative based – different stories are used to lead to an
understanding of what is right and wrong.
• Utilitarian based – what is right for the greatest number
of people (e.g BBBEE)
Why are professional codes necessary?
• They regulate behaviour
• Professionals are often registered with a professional body, where you must abide by
the organisations professional code
• If professionals break the code, they will be fired or disbarred.
Ethical issues in the corporate world
1. Employee conflict of interest
2. Corruption/money laundering
3. Sexual harassment
4. Inappropriate gifts
5. Unauthorised payments
6. Reverse discrimination
7. Wasting company time and resources
8. Stealing from company
9. Firing an employee for whistleblowing
10. Divulging confidential information
11. Terminating employment without proper procedures
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