Lesson 1, Topic 1
In Progress

2.2. Personal values are identified for modifying an ethical framework for a new venture.

ryanrori January 7, 2021

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Each individual has a core of underlying values that contribute to our system of beliefs, ideas and/or opinions. Integrity in the application of a “value” ensures its continuity and this continuity separates a value from beliefs, opinion and ideas. In this context a value (e.g. Truth or Equality or Greed) is the core from which we operate or react from. Societies have values that are shared among many of the participants in that culture.

These beliefs can be grouped into four categories:

  • Ethics (good, bad, moral, immoral, amoral, right, wrong, permissible, impermissible)
  • Aesthetics (beautiful, ugly, unbalanced, pleasing)
  • Doctrine (political, ideological, religious or social beliefs and values)
  • Inborn

Here are examples of values:

Acceptance              accountability         adventure                appreciation  

Balance                   Caring                     chastity                   compassion

confidence               cooperation           Courage                  courtesy

creativity                 curiosity                  dependability           Determination

effort                     endurance               enthusiasm              equality

Fairness                  fantasy                   fidelity                    focus

Foresight                 Friendship               generosity               gentleness

giving                     helping                   Honesty                  hope

humour                   imagination             innocence                Integrity

justice                    kindness                 learning                   love

Loyalty                   magnanimity            mercy                     moderation

Modesty                 Nurturing                 obedience               optimism

patience                  peace                     Perfection                perseverance

potential                 purpose                  respect                   Responsibility

restraint                  self-awareness         self-discipline           self-reliance

Self-esteem             self-respect             sensitivity                sharing         


An ethical framework and codes of ethics and conduct are drawn up for the new venture. 

A code of ethics should include the following:

  • Fundamental honesty and adherence to the law.
  • Product safety and quality.
  • Health and safety in the workplace.
  • Employment practices.
  • Selling and marketing practices.
  • Security and privacy.
  • Political activities.
  • Financial reporting.
  • Supplier relationships
  • Protecting the environment.

“Tax officials’ numbers may be up

CLIVE SAWYER, Political Correspondent

Several tax officials are being prosecuted for fraud and corruption, says Minister of Finance.

He was replying to allegations by Doug Gibson about corruption in the Inland Revenue Department.

Speaking in a parliamentary extended public committee debate yesterday on the Income Tax Bill, Mr Gibson said the Johannesburg Receiver of Revenue’s office was getting a reputation for being “bribable”.

“It costs R5O 000 for an official to lose a tax file. For a payment of R5 000 or RIO 000, other favours are possible.”

Revenue officials were underpaid and subject to enormous temptation every day.”They can do favours and exercise discretions which have enormous implications for business and private people.”

Mr Gibson called for urgent investigation of the matter and said prompt action should be taken. Failure to do so would undermine the tax system, he said