Page 95 - Bisiness Studies_Form_3

Business Studies for Secondary Schools

Just like positive norms govern families,
ethical behaviour governs businesses. Activity 5.2
Ethical behaviour builds trust, strengthens
relationships, and promotes long-term Interview at least five people in your
success for families. The same principles of community and explore their shopping
respect, fairness, honesty, and responsibility experiences. From their experiences,
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apply to business environments. focus on identifying unethical concerns
they have encountered from the business
Business ethics are moral guidelines owners and the actions they have taken.
that govern behaviours when conducting Write a report on the recommendations
business. Behaving ethically in business is to the business community based on the
doing what is morally right to protect the unethical concerns generated from the
interests of other business stakeholders, such business owners in the community.
as investors, consumers, lenders, suppliers,
government, competitors, employees, and Business norms and values
the public. Ethical behaviour in business A business owner is expected to
revolves around the trust that society demonstrate business ethics in their
places in people who are in business and existing businesses or the business they
the obligations that those business people plan to start. Business owners need to
have towards society.
understand that they are not only building

Some of the ethical behaviours include: businesses; they are also building their
(a) Ensuring fair, honest, and responsible reputations. To ensure a solid foundation
decisions that benefit employees, for success, business owner must embrace
consumers, and the environment; these affirmations.

(b) Considering health, safety, and “I will be honest in my business ideas and
environmental standards; actions. I will not deceive my customers
(c) Avoiding child labour; or my partners.” This commitment to
honesty will foster trust and reliability,
(d) Avoiding forced labour;
which are essential for long-term business
(e) Protecting workers’ rights; and growth. Equally important is fairness and
(f) Tax compliance. respect: “I will be fair to everyone I work
with. I will treat customers and employees
Generally, business ethics involve with fairness and respect.” Remember,
avoiding activities that push towards the a business built on ethical principles
generation of profit while ignoring moral not only thrives financially but also
behaviours and the interests of other contributes positively to the community
stakeholders.
and creating a legacy one can be proud of.

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