Summary Ethics Matric (IEB) Business Studies notes
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Course
Business Studies
Institution
12th Grade
The notes seen attached, provide an in depth summary of the Team Dynamics and conflict management section of the Business Studies syllabus required by the IEB.
These notes have been used to successfully complete the NSC final examinations, confidently and with ease.
Ethics
Basic Questions about ethics
➔ What does the law say and do we agree with it?
➔ What about choices regarding economic and social issues not covered explicitly
by legislation or where the legislation is not enforced?
Some ethical issues in the Corporate world
Conflict of interest
Is a situation in which an individual or business is involved in multiple interests and
serving one interest could involve working against the other. An example would be:
➔ A manager dating an employee who reports to them.
➔ An employee sets up a personal website on which he sells his employer's
software products.
Bribes, Corruption and inappropriate gifts
➔ When a gift is inappropriately large and is given to persuade someone to act in
one's favour.
➔ Corruption is the misuse of public power for private gain.
➔ Inappropriate gifts may be linked to sexual harassment.
Sexual harassment
Unwelcomed and uninvited sexual advances, both physical and verbal normally from an
authority figure. Examples:
➔ Emails
➔ Phone calls
➔ Invasion of privacy
Unauthorised use of funds may include, but are not limited to:
, ➔ Fraudulent invoices
➔ Forged signatures
➔ Unauthorised electronic payments
➔ Skimming accounts
Tax evasion
When a person does not disclose all income or lies about income to SARS.
Unfair Advertising
Examples include:
➔ False Labelling- Claiming that products are “MSG free” when they aren't.
➔ Hidden fees- Extra fees which are not specified in the advertised price.
➔ Misusing the word “free”- ‘Buy one, Get one free.” It's not really free.
➔ Fillers- Injecting meat with brine to make them heavier.
➔ Misleading illustrations- Showing the product in a picture being bigger than it
actually is.
➔ Bait and switch- Advertising one product and substituting a similar product at a
higher price and the original is sold out or unavailable.
Pricing of goods such as in rural tuck shops and spaza shops
The consumer protection act (CPA) makes it illegal to inflate prices in rural areas.
Insider trading
The illegal practice of buying or selling shares on the stock exchange with the advantage
of having ‘insider’ access to confidential information.
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