This document contains summaries made from " Consumo Business studies textbook" which summarizes ethical theories; professionalism; the aims of the Batho Pele Framework; code of conduct; code of ethics and the importance of corporate governance.
Chapter 7
Professionalism & ethics:
Effective business practice >
- It is necessary to identify the core values that are important to the business and ensure those values are
ingrained in everyday business practice.
Ethical theories >
1. Principle – based theory:
• A principle-based theory of ethics = a set of values or rules will determine if an action is ethical or
not.
• Focuses on the importance of general principles such as respect for autonomy, justice etc.
2. Consequence – based theory >
- Judges whether something is right by what its consequences are.
- E.G., If telling a lie would help save a person’s life, consequentialism say it’s the right thing to
do.
3. The utilitarian theory >
➢ Focuses on the outcome/consequence of the action but, states that if the outcome benefits the
majority of the group, the actions are justifiable.
4. Narrative theories >
• Use stories/folklore/organizational culture to illustrate to people what is acceptable behaviour or
not.
• This allows the listener to come to a conclusion about whether the actions are acceptable or not.
5. Virtue – based theory >
- Judges’ person based on their character and reputation.
6. Deontology >
➢ states that if the person upholds his/her obligation towards another person or society, the action
will be ethical.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kayleevandyk. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.47. You're not tied to anything after your purchase.
