ethics

Question 1

what does a business use to ensure they are more ethical?

Answer 1

corporate social responsibility

Question 2

define ethics

Answer 2

define a businesses conduct in dealings and underpin decisions that are made
- right/wrong

Question 3

pay and working conditions

Answer 3

• Pay based on costs of living (living wage) – ethically sound
• Pay based on skills – ethically sound
• BUT a wide pay gap between management and workers?

Question 4

waste disposal

Answer 4

• i.e. from by-products, chemicals, excess plastic
• Can be toxic/harmful to humans, wildlife
• Getting rid of this correctly/legally/safely is expensive so lowers profit
• Temptation is to dispose of it in an unethical manner (cheaper)

Question 5

what are the 2 sides of stakeholder conflict?

Answer 5

• Centres around profit
• Limit wages, little effort on conditions/respect for laws, paying less to suppliers, tax avoidance = greater profit
  BUT
• Impact on those stakeholders is overly negative (can become unethical)
• Consumers are starting to demand higher standards
• Pressure groups are highlighting key issues

Question 6

examples of ethical considerations

Answer 6

1. supply chain considerations = labour exploitation, child labour
2. environmental = waste disposal, emissions
3. stakeholder = manages v owners, management v workers
4. marketing = misleading product labelling, innappropriate promotional activities