2.1.4 Ethics The Environment and Business Flashcards
Write a Definition of Ethics?
Ethics is Where Business Make Decisions on What is Morally right and Morally Wrong.
Name 6 Ways That a Business can Behave Ethically and explain each one?
- 1) Treating Worker Fairly - Fair Pay and Treating them Fairly.
- 2) Treating Suppliers Fairly - Paying a Fair Price.
- 3) Ethical sourcing of Materials - not testing on animals and no Child Labour.
- 4) Carrying for the community - supporting local causes.
- 5) Treating Consumers Fairly - Charging Fair Prices
- 6) Meeting Government Requirements - paying all require taxes.
Give a Benefit of a Business Behaving Ethically (3 Marker)?
One benefit of a Business of Being Ethical is that a Business will gain higher revenues (P) This is because customers are increasing marketing Purchases based on ethics (S) This Means for the Business the actual selling price charged being less important for decision-making (S)
Give a Benefit of a Business Behaving Ethically (3 Marker)?
One advantage is that it will be easier for the business to attract and recruit Staff (P) This is because of the improved brand/business awareness and recognition (S) This leads to reducing further costs of recruitment and selection (S)
Give a Drawback of a Business Behaving Ethically ( 3 Marker)?
One drawback of Behaving Ethically is Higher Costs (P) This is Because business may decide to source from Fairtrade suppliers rather than from suppliers offering The Lowest Prices (S) This Leads to the business having to increase their process to cover the higher costs if They Wish to keep the Same Profit Margins (S)
What Can Ethical Business Make More Of?
An Ethical Business Can Make More Sales.
What Types of Business Have Environmental Policies?
Most Large and Many Small Businesses now Have Environmental policies.
Which Areas Does Environmental Policies Cover?
It Covers Energy Use,Waste Disposal and Different types of Pollution.
Give a Benefit Of Having an Environmental Policy ( 3 Marker)?
Having environmental policies provides good publicity for a Business (P) This is Because they Are Meeting The Requirements of Environment Laws (S) This Leads to a good reputation amongst its Customers (S) Therefore customers may be Willing to Pay Higher Prices Which Leads to Higher Revenue (S)
Give a Drawback Of Having an Environmental Policy ( 3 Marker)?
Environmental Policies Increase The Costs for a Business (P) This Is Because the Business Has to Pay more for Waste Disposal and to Meet the Requirements of Anti-Pollution Laws (S) As a Result they may have to sacrifice profit levels if they are unable to increase their prices due to Heavy competition (S)
Who Will environmental policies affect?
They Will Affect the Business Directly but they will also impact customers/consumers.
What Will Happen to Prices of environmental policies?
- These May Rise as Increased Business Costs are Passed onto the Customer.
What Will Happen to The Availability of Scarce Resources?
- Recycling Will Mean Scarce Resources Last Longer and Goods may be Available and Cheaper in the long run.
What Will Happen to The Quality Of Life if These Environmental Policies are Kept In Place?
- Reduced Pollution and Waste Will Improve living Conditions.
What Could Happen To Taxes if Environmental Policies are Kept In Place?
- If Pollution is Reduced the Government Can Spend Less on This Area which may Result in a reduction in Taxation.
Write a Definition of Sustainability?
- Sustainability is The idea that Goods and Services Should Be Made Using Resources that can Be Replaced.
How Do Humans Become Sustainable?
- We Must Replace or Renew The Resources That We Use Or Over Time They Will Run Out
Name The 4 Steps of a Business Being Sustainable for Production?
- 1) Sustainable Products Are Environmental Friendly.
- 2) More Expensive to Produce.
- 3) Business Costs Are Higher.
- 4) Profit Levels are Lower.
Name The 4 Steps of a Business Being Sustainable for Consumers?
- 1) Sustainable Products Are Environmental Friendly.
- 2) Good Brand Image.
- 3) Can Charge a Higher Price.
- 4) Can Earn More Revenue.
What Will Happen to Industries If Global Warming Rises?
- Industries Such as Agriculture are Directly Affected by Changes in Temperature and Droughts.
- Other Industries are All also affected for Example Insurance Costs Can Increase.
Name 2 Solutions To Stop Global Warming?
- 1) Using Renewable Resources.
- 2) reducing energy consumptions.
Write a Dentition of a Pressure Group?
- A Pressure group is an Organisation That Try to Influence Public Policy for a Specific Cause.
What is the Purpose of a Pressure group and Give a Example of a Pressure Group?
- The purpose of a Pressure Group is to influence the marketing mix.
- For Example: GreenPeace is a Pressure group that Protects The Natural World.
How do Pressure Group Influences price?
- Changing Pricing Strategies
- For Example: to Make ethical products a Realistic choice for Consumers.
How do Pressure Group Influences product and Give a Example?
- Change the Product.
- For Example: using rubber from ethical suppliers to protect the amazon rainforest.
How do Pressure Group Influences Promotion and Give a Example
- Change the way a product is advertised.
- For Example: promoting - environmentally friendly products.
How do Pressure Group Influences Place and Give a Example?
- Change Distribution Methods.
- For Example: Using Deliver Vehicles Pollute Less.
