Professionalism and Ethics

Mindmap - Click button to download

Actual Text

• Professionalism and Ethics
  • Ethical Theories
    • Principle Based Theory
      • This person values their principles over everything
    • Consequence-based theory
      • If the consequences are good, then the action is good
    • Utilitarian based theory
      • If the outcome favours the majority of the group, the action is favourable
    • Narrative theories 
      • Based on stories
        • Such as Robin Hood
    • Virtue based theories
      • If the person is good and they are caught doing a bad thing, it is by accident
      • If the person has a bad reputation and is caught doing a bad thing, it is seen as a purposeful action
    • Deontology
      • The person upholds their obligations to society
  • Professional Behaviour
    • A professional person is always ethical
    • An ethical person is not always professional
    • Some professional behavioural characteristics
      • Punctuality
      • Appropriate language
      • The adequate skills for the job
      • The willingness to pass on knowledge
      • No gossip
      • Accountability 
      • Good judgement
  • Difference between a code of conduct and a code of ethics
    • Code of Conduct
      • The way in which employees of a business should ACT
    • Code of Ethics
      • The way in which employees of a business should make their DECISIONS
  • Examples of unethical behaviour
    • Bribery
    • Corruption
    • Fraud
    • Confidentiality of businesses property
    • Whistle-blowing
    • How to deal with conflicts of interest
    • Insider trading
    • Respect for IP
    • Use of company resources and the issue of privacy
  • How to ensure staff adhere to the code of ethics/conduct
    • Staff involvement
    • Consequences
    • Document is proofread
    • The document is written in an easy to understand language
    • Managers need to lead by example
    • Conduct regular training sessions
  • Implications of unethical business practice
    • Creates a bad atmosphere in the business
      • If a person is seen doing unethical things, others might be tempted to do the same
    • Can lead to severe ____ for the business
      • Fines
      • Law-suits
      • Loss in the strength of brand image
      • Loss in the strength of their listing on the JSE
    • Embarrassment for the person and the business
    • More red tape
  • The Importance of Corporate Governance
    • A good image for the business
    • Improved stakeholder relations
      • A healthier workforce with easier hiring because people want to work at an ethical business
      • Investor confidence which makes it easier to raise capital
      • An increased market share because customers want to buy from ethically sound businesses
    • Refers to the mechanisms, processes and relations that influence how corporations are controlled and directed