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Summary Business Studies:Multiple Chapters

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In-depth study notes on Creative thinking and Problem-solving, marketing, forms of ownership, general management, teamwork, and conflict management, overall organization performance, and Professionalism and ethics—all in the IEB syllabus.

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July 6, 2024
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Professionalism and ethics


he business
need to identify it core values in order to be effective These core values need

be ingrained in everyday business
practice



one businesses will see themselves an effective and successful if they are creative and innovativ

egardles of how these results where achieved

Some businesses
may emphasize on outperforming the competitors even if it may mean bending

few rules along the way


Ethical theories



rinciple based theory
a set of rules or values will determine if the action is ethical or not

But whose principles should be used

I someone only pays attention to being ethical and isn't concerned about their outcome they

ay not have a good end result



Consequence based theory
this theory say the outcome of the situation will determine whether the action is

hical or not
You can lie to SARs about income so can afford your child education but this
your you
an unethical action



tilitarian theory
also focuses on the consequences of the action but states that if the outcome benefits the

ajority of the group the actions are justifiable

in order to save 901 of the population bi will be harmed

, arrative theories

narrative theories use stories folklore organisational culture common beliefs to illustrate to people

at behaviour is acceptable or not

the author uses the content of the story to lead the audience to come to a conclusion on

ether the actions were acceptable or unacceptable




rue based theory

judge a person by their character and reputation rather than on the individual action

Someone known for being honest walk out the shop with an unpaid item the assumption will

that it was accidental therefore they won't be prosecuted



Professionalism, ethics
and responsible behaviour



Professionalism



Ethical
behaviour




thical behaviour is a of being professional
just component

thical behaviour will mean that a person will

be honest and act with integrity
act in a manner acceptable to society

do what is right rather than what is easy
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