3.4 Flashcards
1
Q
what is ethics
A
moral guidelines which govern acceptable behaviour
2
Q
benefits of behaving ethically
A
- higher revenues - demand from +ve consumer support
- improved brand and recognition
- better employee motivation and recruitment
- new sources of finance - e.g ethical investor
3
Q
disadvantages of behaving ethically
A
- higher costs
- higher overheads- training ethically
- can build up false expectations
4
Q
Amoral business
A
- seeks to win at all costs
- anything is acceptable
5
Q
Legalistic business
A
obey the law
6
Q
responsive business
A
accepts being ethical pays off
7
Q
what is a stakeholder
A
any individual or organisation who has a vested intel in the activities and decision making of a business
