Introduction to Risk Management.
Risk Management has numerous definitions usually based on the context in which it is being discussed among these are: “Risk management is formal process that enables the identification, assessment, planning and management of risk.” (Merna and Al Thani 2010) COSO ERM defines enterprise risk management as a process designed to identify potential events that may … Continue reading Introduction to Risk Management
Warren Buffet's Wisdom on Hiring, integrity.
"Somebody once said that in looking for people to hire, you look for three qualities: Integrity, Intelligence and Energy. And if they don't have the first, the other two will kill you". (Omaha World Herald, 1 February 1994) "I want employees to ask themselves whether they are willing to have any contemplated act appear on … Continue reading Warren Buffet’s Wisdom on Hiring, integrity
Ethics, through beliefs and values form the building blocks of organisational behaviour. Values and beliefs are part of the cognitive sub-structure of an organisational culture. Values are intimately connected with moral and ethical codes, and determine what people think ‘ought’ to be done. For example, individuals and organisations that value honesty, integrity and openness consider … Continue reading THE BUSINESS VALUE SET – RIGHTS AND DUTIES
ETHICAL CRITERIA: ‘NO DIFFERENCE THEORY’ The law is the most important source for ensuring that consumers receive a fair deal from retailers and manufacturers. The various health and safety laws have ensured substantial improvements in working conditions for employees. Contract law entails that employers no longer have complete freedom to make contracts or in many … Continue reading AN ANALYSIS OF ETHICAL CRITERIA IN BUSINESS DECISION MAKING
PHILOSOPHICAL SCHOOLS WHICH PROVIDE A BASIS FOR BUSINESS ETHICS.
SUBJECTIVISIM – IT IS UPTO THE INDIVIDUAL The ethical theory that moral judgements are “up to the individual” was based on the concept of self-realisation expounded by among others F.H Bradley (1846 -1924), who claimed that there is a ideal self to which each individual strives to achieve. It is also supported by the existentialist … Continue reading PHILOSOPHICAL SCHOOLS WHICH PROVIDE A BASIS FOR BUSINESS ETHICS