Business Studies – Robin Naude 1
, INDEX
TABLE OF CONTENTS .......................................................................................................................................................................................2
CHAPTER 3 ......................................................................................................................................................................................................3
ETHICS AND PROFESSIONALISM .................................................................................................................................................................................... 3
3.1) Ethical and Professional Conduct ............................................................................................................................................................... 3
3.2) King Code Principle .................................................................................................................................................................................... 4
3.3) Challenges of Unethical Business Practices ................................................................................................................................................ 4
3.4) CHALLENGES OF UNPROFESSIONAL BUSINESS PRACTICES ...................................................................................................................... 5
CHAPTER 4 ......................................................................................................................................................................................................7
CREATIVE THINKING AND PROBLEM SOLVING ........................................................................................................................................................ 7
4.1) TROUBLESHOOTING ................................................................................................................................................................................. 7
4.2) TROUBLESHOOTING ................................................................................................................................................................................. 9
CHAPTER 8 .................................................................................................................................................................................................... 10
MANAGEMENT AND LEADERSHIP ........................................................................................................................................................................ 10
8.1)DIFFERENCE BETWEEN LEADERSHIP AND MANAGEMENT ........................................................................................................................ 10
8.2) APPLICATION OF LEADERSHIP STYLES ..................................................................................................................................................... 10
8.3) LEADERSHIP THEORIES ........................................................................................................................................................................... 12
CHAPTER 9 .................................................................................................................................................................................................... 13
INVESTMENTS ..................................................................................................................................................................................................... 13
9.1)FUNCTIONS OF THE JSE ........................................................................................................................................................................... 13
9.2) FACTORS TO CONSIDER AS BELIEVED ...................................................................................................................................................... 13
9.3)TYPES OF INVESTMENT OPPORTUNITIES .................................................................................................................................................. 14
9.4) INVESTMENT FORMS – IMPACT ................................................................................................................................................................ 15
CHAPTER 10 .................................................................................................................................................................................................. 19
INVESTMENT – INSURANCE ..................................................................................................................................................................................... 19
10.1)INSURANCE CONCEPTS ......................................................................................................................................................................... 19
10.2) PRINCIPLES OF INSURANCE .................................................................................................................................................................. 20
10.3) BENEFITS OF INSURANCE FOR BUSINESS .............................................................................................................................................. 21
CHAPTER 11 .................................................................................................................................................................................................. 24
TEAM PERFORMANCE ............................................................................................................................................................................................... 24
11.1) CRITERIA FOR SUCCESSFUL TEAM PERFORMANCE ............................................................................................................................... 24
11.2) STAGES OF TEAM DEVELOPMENT ........................................................................................................................................................... 25
11.3)STEPS OF CONFLICT MANAGEMENT AND SOLUTIONS ............................................................................................................................ 25
CHAPTER 12 .................................................................................................................................................................................................. 28
HUMAN RIGHTS, INCLUSIVITY AND ENVIRONMENTAL ISSUES .............................................................................................................................................. 28
12.1) HUMAN RIGHTS ..................................................................................................................................................................................... 28
12.2) DIVERSITY IN THE WORKPLACE .............................................................................................................................................................. 30
12.3) ENVIRONMENTAL ISSUES ...................................................................................................................................................................... 31
CHAPTER 13 .................................................................................................................................................................................................. 32
SOCIAL RESPONSIBILITY AND CORPORATE CITIZENSHIP .................................................................................................................................................... 32
13.1) Social Responsibility .............................................................................................................................................................................. 32
13.2) SOCIO-ECONOMIC ISSUES ................................................................................................................................................................... 33
13.3) CORPORATE SOCIAL INVESTMENT (CSO) & CORPORATE SOCIAL INVESTMENT (CSI) ............................................................................... 33
CHAPTER 14 .................................................................................................................................................................................................. 36
PRESENTATION & DATA RESPONSE .............................................................................................................................................................................. 36
14.1) FACTORS TO CONSIDER WNR PREPARATION ......................................................................................................................................... 36
14.2) AREAS FOR IMPROVEMENT FOR NEXT PRESENTATION: .......................................................................................................................... 36
CHAPTER 15 .................................................................................................................................................................................................. 39
BUSINESS FORMS .................................................................................................................................................................................................... 39
15.2) LIMITED & UNLIMITED LIABILITY ............................................................................................................................................................. 39
15.3) CRITERIA TO EVALUATE SUCCESS OR FAILURE ....................................................................................................................................... 39
15.4) ENTERPRISE FORMS & CONTRIBUTION OF CRITERIA .............................................................................................................................. 40
Business Studies – Robin Naude 2
, CHAPTER 3
ETHICS AND PROFESSIONALISM
3.1) Ethical and Professional Conduct
ETHICAL BEHAVIOUR
• To do the right thing and in the right way
• Expected behaviour in society.
Ethical behaviour Unethical behaviour
• Pay fair wages to workers. • Falsification of information on tax returns
• Fair advertising • Use false advertising – tactics to attract smallness.
• Business does not use child labour. • Pollution instead of using environmentally
• Business ensures environment is not harmed friendly solutions.
during production process.
• Business complies with laws and stays within
restrictions
PROFESSIONAL CONDUCT
• Includes issues such as appearance, communication, responsibility, knowledge and skills.
• Expected behaviour in the business.
Professional conduct Unprofessional behaviour
• Respect yourself and others. • Using rude language with colleagues and clients
• To use polite language with colleagues and clients • Misuse of working time – such as being late
• Treat all colleagues and customers the same. • To do special Favors for certain people
• Take responsibility for your actions/mistakes. • Being unprepared for tasks/assignments
• Keep minor details confidential • Unauthorized use of business resources
ETHICAL VS. PROFESSIONAL BEHAVIOUR
Ethical behaviour Professional
• Refers to principle of right and wrong in society. • Refers to principle of right and wrong in
• Adhere to a set of values that are morally business.
acceptable. • Set standards of expected behaviour.
• Form part of a code of conduct. • Application of code of conduct in business
• Focus on developing a moral compass • Focus on the business's reputation
Business Studies – Robin Naude 3
, 3.2) KING CODE PRINCIPLE
TRANSPARENCY
• Actions must be clear to shareholders.
• Personnel and other processes must be open and transparent.
• Employee must be aware of employment policy of business.
LIABILITY/RESPONSIBILITY
• Business must be responsible for their actions.
• Regular communication between management and shareholders
• Appoint internal and external auditors to audit financial statements.
RESPONSIBILITY
• Develop and implement programs that protect the environment.
WAYS TO CARRY OUT PROFESSIONAL, RESPONSIBLE, ETHICAL AND EFFECTIVE BUSINESS PRACTICES
• Pay taxes on time.
• Train worker
• Pay fair salaries and wages.
• Treat all workers equally, regardless of race or gender.
• Business must protect the environment by, for example, recycling paper.
3.3) CHALLENGES OF UNETHICAL BUSINESS
PRACTICES
1) UNFAIR/DISHONEST ADVERTISING
• False statements in advertisements, which can negatively affect consumers.
• Price is misrepresented - e.g. on sales.
CHALLENGES
• Can negatively impact consumers.
• Can lose consumer trust and destroy business relationships.
• Advertisements can be discriminatory because they target a certain population.
HANDLING
• Report unfair advertising from competitors.
• Don't leave out any information in advertisements.
• Advertisements must be non-discriminatory and not encourage unsafe acts.
Business Studies – Robin Naude 4
, INDEX
TABLE OF CONTENTS .......................................................................................................................................................................................2
CHAPTER 3 ......................................................................................................................................................................................................3
ETHICS AND PROFESSIONALISM .................................................................................................................................................................................... 3
3.1) Ethical and Professional Conduct ............................................................................................................................................................... 3
3.2) King Code Principle .................................................................................................................................................................................... 4
3.3) Challenges of Unethical Business Practices ................................................................................................................................................ 4
3.4) CHALLENGES OF UNPROFESSIONAL BUSINESS PRACTICES ...................................................................................................................... 5
CHAPTER 4 ......................................................................................................................................................................................................7
CREATIVE THINKING AND PROBLEM SOLVING ........................................................................................................................................................ 7
4.1) TROUBLESHOOTING ................................................................................................................................................................................. 7
4.2) TROUBLESHOOTING ................................................................................................................................................................................. 9
CHAPTER 8 .................................................................................................................................................................................................... 10
MANAGEMENT AND LEADERSHIP ........................................................................................................................................................................ 10
8.1)DIFFERENCE BETWEEN LEADERSHIP AND MANAGEMENT ........................................................................................................................ 10
8.2) APPLICATION OF LEADERSHIP STYLES ..................................................................................................................................................... 10
8.3) LEADERSHIP THEORIES ........................................................................................................................................................................... 12
CHAPTER 9 .................................................................................................................................................................................................... 13
INVESTMENTS ..................................................................................................................................................................................................... 13
9.1)FUNCTIONS OF THE JSE ........................................................................................................................................................................... 13
9.2) FACTORS TO CONSIDER AS BELIEVED ...................................................................................................................................................... 13
9.3)TYPES OF INVESTMENT OPPORTUNITIES .................................................................................................................................................. 14
9.4) INVESTMENT FORMS – IMPACT ................................................................................................................................................................ 15
CHAPTER 10 .................................................................................................................................................................................................. 19
INVESTMENT – INSURANCE ..................................................................................................................................................................................... 19
10.1)INSURANCE CONCEPTS ......................................................................................................................................................................... 19
10.2) PRINCIPLES OF INSURANCE .................................................................................................................................................................. 20
10.3) BENEFITS OF INSURANCE FOR BUSINESS .............................................................................................................................................. 21
CHAPTER 11 .................................................................................................................................................................................................. 24
TEAM PERFORMANCE ............................................................................................................................................................................................... 24
11.1) CRITERIA FOR SUCCESSFUL TEAM PERFORMANCE ............................................................................................................................... 24
11.2) STAGES OF TEAM DEVELOPMENT ........................................................................................................................................................... 25
11.3)STEPS OF CONFLICT MANAGEMENT AND SOLUTIONS ............................................................................................................................ 25
CHAPTER 12 .................................................................................................................................................................................................. 28
HUMAN RIGHTS, INCLUSIVITY AND ENVIRONMENTAL ISSUES .............................................................................................................................................. 28
12.1) HUMAN RIGHTS ..................................................................................................................................................................................... 28
12.2) DIVERSITY IN THE WORKPLACE .............................................................................................................................................................. 30
12.3) ENVIRONMENTAL ISSUES ...................................................................................................................................................................... 31
CHAPTER 13 .................................................................................................................................................................................................. 32
SOCIAL RESPONSIBILITY AND CORPORATE CITIZENSHIP .................................................................................................................................................... 32
13.1) Social Responsibility .............................................................................................................................................................................. 32
13.2) SOCIO-ECONOMIC ISSUES ................................................................................................................................................................... 33
13.3) CORPORATE SOCIAL INVESTMENT (CSO) & CORPORATE SOCIAL INVESTMENT (CSI) ............................................................................... 33
CHAPTER 14 .................................................................................................................................................................................................. 36
PRESENTATION & DATA RESPONSE .............................................................................................................................................................................. 36
14.1) FACTORS TO CONSIDER WNR PREPARATION ......................................................................................................................................... 36
14.2) AREAS FOR IMPROVEMENT FOR NEXT PRESENTATION: .......................................................................................................................... 36
CHAPTER 15 .................................................................................................................................................................................................. 39
BUSINESS FORMS .................................................................................................................................................................................................... 39
15.2) LIMITED & UNLIMITED LIABILITY ............................................................................................................................................................. 39
15.3) CRITERIA TO EVALUATE SUCCESS OR FAILURE ....................................................................................................................................... 39
15.4) ENTERPRISE FORMS & CONTRIBUTION OF CRITERIA .............................................................................................................................. 40
Business Studies – Robin Naude 2
, CHAPTER 3
ETHICS AND PROFESSIONALISM
3.1) Ethical and Professional Conduct
ETHICAL BEHAVIOUR
• To do the right thing and in the right way
• Expected behaviour in society.
Ethical behaviour Unethical behaviour
• Pay fair wages to workers. • Falsification of information on tax returns
• Fair advertising • Use false advertising – tactics to attract smallness.
• Business does not use child labour. • Pollution instead of using environmentally
• Business ensures environment is not harmed friendly solutions.
during production process.
• Business complies with laws and stays within
restrictions
PROFESSIONAL CONDUCT
• Includes issues such as appearance, communication, responsibility, knowledge and skills.
• Expected behaviour in the business.
Professional conduct Unprofessional behaviour
• Respect yourself and others. • Using rude language with colleagues and clients
• To use polite language with colleagues and clients • Misuse of working time – such as being late
• Treat all colleagues and customers the same. • To do special Favors for certain people
• Take responsibility for your actions/mistakes. • Being unprepared for tasks/assignments
• Keep minor details confidential • Unauthorized use of business resources
ETHICAL VS. PROFESSIONAL BEHAVIOUR
Ethical behaviour Professional
• Refers to principle of right and wrong in society. • Refers to principle of right and wrong in
• Adhere to a set of values that are morally business.
acceptable. • Set standards of expected behaviour.
• Form part of a code of conduct. • Application of code of conduct in business
• Focus on developing a moral compass • Focus on the business's reputation
Business Studies – Robin Naude 3
, 3.2) KING CODE PRINCIPLE
TRANSPARENCY
• Actions must be clear to shareholders.
• Personnel and other processes must be open and transparent.
• Employee must be aware of employment policy of business.
LIABILITY/RESPONSIBILITY
• Business must be responsible for their actions.
• Regular communication between management and shareholders
• Appoint internal and external auditors to audit financial statements.
RESPONSIBILITY
• Develop and implement programs that protect the environment.
WAYS TO CARRY OUT PROFESSIONAL, RESPONSIBLE, ETHICAL AND EFFECTIVE BUSINESS PRACTICES
• Pay taxes on time.
• Train worker
• Pay fair salaries and wages.
• Treat all workers equally, regardless of race or gender.
• Business must protect the environment by, for example, recycling paper.
3.3) CHALLENGES OF UNETHICAL BUSINESS
PRACTICES
1) UNFAIR/DISHONEST ADVERTISING
• False statements in advertisements, which can negatively affect consumers.
• Price is misrepresented - e.g. on sales.
CHALLENGES
• Can negatively impact consumers.
• Can lose consumer trust and destroy business relationships.
• Advertisements can be discriminatory because they target a certain population.
HANDLING
• Report unfair advertising from competitors.
• Don't leave out any information in advertisements.
• Advertisements must be non-discriminatory and not encourage unsafe acts.
Business Studies – Robin Naude 4
