3.4.4 Ethics

Question 1

Ethics

Answer 1

Businesses act in a morally correct way/make moral decisions

Question 2

Employees

Answer 2

Healthy + safe working environment
Fair pay (uk min wage + not exploit)
Ensure job security
Fair employment practises (equal chance of getting job)

Question 3

Legislation

Answer 3

Pay tax
Follow laws

Question 4

Environment

Answer 4

Low pollution (reduce co2 emissions)
Recycling

Question 5

Customers

Answer 5

Clear pricing
No misleading adverts
Clear description

Question 6

Corruption

Answer 6

Bribes
Not paying tax
Collusion (ramp up prices)

Question 7

Making ethical decisions

Answer 7

+ good image
+ less likely to be boycotted
+ loyal consumers
+ trade off

• reduce profit
• more expensive
• time consuming
  -hard to obtain

Question 8

CSR

Answer 8

Corporate social responsibility
Belief that BUSI should act responsibly + protect interests of all its stakeholders
Beyond following rules + regulations
Long term sustainability

Question 9

Responsibilities

Answer 9

Philanthropic
Ethical
Legal
Economic