In your own words, explain the purpose, principles and implications that the code of conduct and ethics have on an organisation. With reference to your answer in question 1. Explain the relationship between the code of conduct and successful business operations. 3. What is Fraud? explain using examples. Name 3 possible indicators of fraud, then explain how one could identify these in the workplace. 5. What laws governing fraud applies to your business sector? (If you are unemployed and not sure provide the laws that you assume will be applicable to any corporate business). How does delegation assist in using time and human resources correctly and how could it be detrimental to time if used or done incorrectly? 7. What is the principle of balance between one's life and all that needs to be done? 3. What are planning aids? Explain using examples. 9. What does it mean for team working, relationships and conflict management and communication in relation to the organisation and culture? Explain using practical examples of the type of styles that could or would be used.
1. The code of conduct and ethics in an organization serves as a set of guidelines and principles that outline the expected behavior and values of employees within the organization. It helps in promoting a positive work environment, maintaining trust with stakeholders, and ensuring compliance with laws and regulations. The implications of the code of conduct include improved reputation, higher employee morale, and reduced legal risks for the organization.
2. The relationship between the code of conduct and successful business operations is that a strong ethical code can lead to better decision-making, increased employee retention, and enhanced customer trust. When employees adhere to the code of conduct, it can create a positive work culture that ultimately impacts the organization's success.
3. Fraud is an illegal act characterized by deception, dishonesty, or misrepresentation that is done with the intention of gaining something of value, usually money. For example, embezzlement, forgery, and bribery are all examples of fraud. Three possible indicators of fraud include sudden changes in behavior or lifestyle, inconsistencies in financial records, and reluctance to provide necessary information or documentation.
4. In the workplace, one could identify indicators of fraud by conducting regular audits and reviews of financial documents, maintaining open communication channels with employees, and implementing proper controls and procedures to prevent fraudulent activities.
5. The laws governing fraud that apply to the business sector may include the Fraud Act 2006, the Financial Services and Markets Act 2000, and the Companies Act 2006. These laws aim to prosecute individuals involved in fraudulent activities and protect the interests of stakeholders.
6. Delegation assists in using time and human resources correctly by allowing tasks to be distributed among team members based on their skills and capabilities. However, if delegation is done incorrectly, it can lead to inefficiency, lack of accountability, and confusion among team members, ultimately resulting in a waste of time and resources.
7. The principle of balance between one's life and all that needs to be done is about prioritizing tasks and activities to ensure that personal wellbeing is not compromised in pursuit of professional goals. This involves setting boundaries, managing time effectively, and delegating tasks when necessary.
8. Planning aids are tools or techniques used to help individuals or organizations in the process of planning. Examples include Gantt charts, SWOT analysis, and project management software. These aids help in organizing tasks, setting goals, and tracking progress to achieve desired outcomes.
9. Team working, relationships, conflict management, and communication in relation to the organization's culture are crucial for creating a harmonious and productive work environment. Different leadership styles, such as democratic, autocratic, or transformational, can be used depending on the situation and organizational culture. Effective communication, conflict resolution strategies, and team-building activities are key to promoting collaboration and cooperation within the team.