Ethics and Professionalism
What is an example of ethical behaviour
Businesses do not make use of child labour
Define Creative Thinking in ur own words
Creative thinking means the ability to generate new ideas and to think outside the box.
What is Management and Leadership
Management means managing in a process where you use your authority.
Leadership means leading by motivating employees.
List one function of the JSE
. Acts as a link between the investors and the public companies.
What does insurance mean in your own words
Insurance is a contract between you (or a business) and an insurance company to help protect you and your loved ones from financial loss due to an unexpected event, like an accident, illness, natural disaster, or other unexpected circumstances.
Differences between ethical and Professional behaviour
Ethical behaviour means the principles of right and wrong in society
Professional behaviour means what is right/wrong in the business
Name three steps of problem solving
1. Identify the problem
2. Define the problem
3. Develop an action plan
4. Choose the best solutions
What is the term use to describe the state of being strikingly different from one another?
Contrast
What are the factors that should be considered when making an investment decision.
hint: name the factors.
ROI - Return on Investment
Risks
Investment period
Taxation
etc
List one different between Over and Under INSURANCE?
Over-Insurance means the insured insures assets for more than the market value.
Under-Insurance means the insured insures assets for less than the market value.
What are the three Application of the King Code Principles and say something about them
Transparency- The actions must be clear to all stakeholders.
Accountability- Businesses should be responsible for all decisions.
Responsibility- The businesses should be responsible for everything in the business
What are the four-problem solving techniques in alphabetical order.
Brainstorming
Delphi
Force-Field analysis
Nominal Group
List all the Leadership style
Democratic,Autocratic,Laissez-faire,Charismatic and Transactional Leadership
Ayanda invested R5000 at Gold Bank in a fixed deposit at 20% simple interest pa for 5 years. After five years, Ayanda earns a return on investment of R3000.
Is this statement correct.
Yes, it is correct, because 20% of R5000 after 5 years is R3000.
Name two examples of Insurance and Assurance
Insurance- Theft and Fire
Assurance- Life Insurance and Endowment policy
Ways of how to deal with unethical business practices maximum 2.
. For unfair advertising- make sure not to omit key information from advertisement.
. Taxation- All products should be correctly recorded
Two ways that businesses can stimulate environment that promotes creative thinking in the workplace.
. Develop all staff members to develop or generate new ideas.
. Make sure the workplace feels free from distractions like high noise level.
One impact of the Democratic and Charismatic Leaderships (negatives only)
Democratic - Feedback provided by employees may not be accurate.
Charismatic - Employees rely on the leader to improve their motivation levels.
What is the term used to describe the end of an investment.
Termination
What are examples of Short term and Long term insurances.
Short term insurance- Property Insurance and Fire
Long term insurance- Funeral Insurance and Health Insurance.
What are the three unprofessional practices that you were taught.
. Sexual Harassments.
. Use of Workplace funds and resources.
. Abuse of worktime
What happens in the NOMINAL GROUP TECHNIQUE?
. Define problems
. Silently brainstorm
. Present ideas
. Vote for solutions
List the three Leadership Theories and explain them
1. Situational - Leaders are required to manage the employees using the different conditions and characters. 2. Transformational- Leaders lead by example and workers respond by following outputs.
3. Leaders and Followers - Followers take responsibility for goals and targets not reached.
What can u say about inflation rate, list two things .
1. it refers to the general increase of goods and services over time.
2. The higher the inflation rate, the lower the purchasing power of money.
Name the five UIF Benefits that you have learnt in this topic.
1. Unemployment benefits
2. Disability benefits
3. Maternity benefits
4. Adoption benefits
5. Dependant benefits