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  • 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

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