This document discusses key concepts in business ethics and management. It defines the business environment as all external forces and institutions that influence how businesses operate and grow. It also lists factors reshaping management, including organizational structure, vision and mission statements, organizational culture, and functions of a business. Additionally, it outlines different types of values that are important in business, such as strategic values around objectives, work values regarding priorities, and ethical values concerning acceptable behavior.

1. Dickson Mdhlalose

2.  Define key concepts and distinctions of ethics and the law.

3. This chapter focus on the key concepts and distinctions that one needs to be
familiar with. Such core concepts and distinctions provide the vocabulary for
engaging in a meaningful discussion in any specialized field of study.

5. The term business environment means
“the aggregate of all the forces, factors and
institutions which are external to and
beyond the control of an individual
business enterprise but which exercise a
significant influence on the functioning
and growth of individual enterprises.”

6. Describe the factors that are reshaping and redefining
management today.

9.  Organizational structure
 Vision, Mission and Objectives Statements
 Value System
 Organizational Culture
 Functions of a Business
 Management Tasks
 Plans and Policies
 Corporate Image
 Board of Directors
 Stake Holders

13.  Strategic Values: shared conviction of the
organization about its desired objectives.
 Work values: the priorities that organizational
members should adhere to in their jobs.
 Ethical values: what is considered acceptable or
desirable behaviour, above and beyond compliance with
laws and regulations.

14. THANK YOU