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in Grade 12 by Master (866k points) | 8.5k views

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Professional, responsible, ethical and effective business practices 

  • Businesses should treat all employees equally.
  • Plan properly and put preventative measures in place.
  • Pay fair wages/salaries which is in line with the minimum requirements of the BCEA/Remunerate employees for working overtime/during public holidays.
  • Engage in environmental awareness programmes/Refrain from polluting the environment, e.g. by legally disposing of toxic waste.
  • Refrain from starting a venture using other businesses' ideas that are protected by law.
  • Business decisions and actions must be clear/transparent to all stakeholders.
  • Businesses should be accountable /responsible for their decisions and actions/ patents rights.
  • Hiring honest/trustworthy accountants/financial officers with good credentials.
  • Regular/Timeous payment of taxes.
  • Draw up a code of ethics/conduct.
  • Ongoing development and training for all employees.
  • Performance management systems/Appraisals should be in place.
  • Adequate internal controls/monitoring/evaluation.
by Master (866k points)
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