307 - Ethical factors

Question 1

What is an ethical business

Answer 1

One that considers the needs of all stakeholders, when setting objectives and considering strategy, it considers its social responsibilities, they consider the moral rights and wrongs

Question 2

Environmental pressure groups

Answer 2

Greenpeace, Friends of the Earth, encourage businesses to consider their impact on the environment and to change their practices to become more environmentally friendly

Question 3

Animal welfare

Answer 3

WWF, PETA, want the best conditions for the animals, as well as stopping animal testing and preventing habitats from being destroyed

Question 4

Employees

Answer 4

Ensuring their working conditions are up to standard and are paying a fair wage

Question 5

Suppliers

Answer 5

Sticking to agreed contracts, fair trade

Question 6

Customers

Answer 6

Meeting regulations, value for money

Question 7

CSR Corporate Social Responsibility

Answer 7

Businesses have a responsibility that goes beyond making profits for their shareholders, they need to monitor and take responsibility for the impact they have on on both social welfare and the environment

Question 8

FOR being ethical

Answer 8

Reputation, attractive to customers who hold this highly, morally right

Question 9

AGAINST being ethical

Answer 9

Can face repercussions, costly, revenues could fall