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Summary Ethics, Professionalism and CSR Business Studies Grade 12 IEB Full Notes
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Notes and Summary on Ethics, Professionalism and Corporate Social Responsibility (CSR) for Business Studies IEB Grade 12
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ETHICS, PROFESSIONALISM AND SOCIALRESPONSIBILITY
1. The relevance of Professional Codes
Professional codes help regulate the behaviour if people in certain jobs.
2. Good Business Practice
This refers to the standards of professionalism, accountability, ethics, and effective business practice that
should be conducted.
Ethical Theories
Principle-based theory: A person’s principles and the set of rules they define as right and wrong determines
whether an action is ethical.
Consequence-based theory: The outcome of the action will determine if it is ethical.
Utilitarian theory: If the outcome benefits the majority, then it is deemed ethical.
3. Ethical Behaviour in Practice
3.1 Conflict of interest
This is when someone has the opportunity to make a decision that will benefit them rather than the business.
3.2 Bribes and corruption
Bribe - When someone is offered a reward to give a third party an unfair advantage to which they are not
entitled to.
Corruption – When someone with power abuses this power for personal gain.
3.3 Unauthorised use of funds
Use of business funds that are not authorised is the same as theft. For example, a manager taking out his wife
for lunch and claiming it as a business expense.
3.4 Inappropriate gifts
Most businesses expect employees to declare all gifts they have received. They may also stipulate that no
employee may receive a gift greater than a certain value.
3.5 Sexual harassment
Sexual harassment includes:
• Unwelcome physical contact.
• Verbal conduct such as sexual advances, sex-related jokes, etc.
• Non-verbal conduct such as sexual gestures, indecent exposure or display of sexually explicit images.
• When a senior employee promises a reward for sexual favours.
Employees can’t engage in these activities with any involved in the business such as customers, suppliers, etc.
Every business should have a clearly defined sexual harassment policy and also the procedure to follow if an
employee feels like a victim of sexual harassment and penalties of being guilty of this offence.
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