3.2.2

Question 1

what is ethics?

Answer 1

it refers to whether a business decision is thought to be morally right or wrong, an ethical consideration is made on the basis of what is judged to be morally right

Question 2

what are the key ethical issues for a business?

Answer 2

-treating workers fairly
-reducing the impact on the environment
-not targeting children with advertising
-not setting prices that are too high
-ensuring that suppliers are not using unethical practices

Question 3

advantages of ethics

Answer 3

-new sources of finance
-higher revenues
-better employee motivation and recruitment

Question 4

disadvantages of ethics

Answer 4

-higher costs
-building up false expectations
-high overheads e.g. training

Question 5

sustainability

Answer 5

methods of production which can be continued in the long term without damaging the environment

Question 6

how can businesses be environmentally responsible?

Answer 6

-source from sustainable sources
-use green energy
-recycle
-reduce waste from production

Question 7

how can customers be environmentally responsible?

Answer 7

-not buy things they won’t use
-recycle
-use ethical brands