3.4.4 Ethics

Question 1

define ethics

Answer 1

Ethics are the moral compass and principles that guide the behaviours of a business.

Question 2

Give some examples of ethical business practices

Answer 2

• Treating workers and suppliers fairly
• honesty with customers
• ethical sourcing
• caring for local community

Question 3

What is pay and reward ?

Answer 3

A incentive business propose to employees mainly used by large corporations.
- pay doesn’t always go to who it belongs

Question 4

What are pressure groups?

Answer 4

Pressure groups are organisations which try and get a business to change behaviour or operations
- they can use negative publicity in order to hurt a business reputation.

Question 5

What is CSR?

Answer 5

Corporate social responsibility

Question 6

Define CSR?

Answer 6

• It is the belief in which a business should act responsibly and protect stakeholders
• going beyond the regulation sand do whatever they can to benefit society

Question 7

Give some examples of CSR in practise.

Answer 7

• fair prices - transparency - honesty
• good working conditions
• employment opportunities.

Question 8

Define philanthropic responsibility?

Answer 8

This is to be a good corporate citizen

Question 9

Define ethical responsibility?

Answer 9

Obligation to do what is right.

Question 10

What is legal responsibility?

Answer 10

Laws, play by the rules

Question 11

What is economic responsibility?

Answer 11

Be profitable

Question 12

What is Carroll’s CSR pyramid

Answer 12

Set of responsibility that a business should meet

The responsibility. Are hierarchical

Question 13

What are some pressures for effective CSR

Answer 13

• appropriate CSR practises can have significance on competitiveness of a business
• if not ethically orientated people may choose an ethically orientated alternative.