BS3- External Influences- STEEPLE (ethical) Flashcards
What is ethics
what is morally good and bad and morally right and wrong
Three examples of unethical behaviour
Under paying workers
Abusive behaviour
Violating company policy
How may acting ethically help a business to attract shareholder investment
It will make the investors look good as it shows they care about ethical behaviour
Two advantages to a business of them acting ethically
Will attract new customers to the business
Encourage employees to stay in the business
Two disadvantages of unethical behaviour
Less brand association will be wanted
Customers may go else where
One conflict between a business acting ethically and maximising profits
One conflict is that they may have to use a more expensive supplier that acts and sources more ethically as this will reflect better on the business but will cost more
One conflict between a business behaving ethically and growing a business
It can slow down the growth of a business due to more consideration and time needing to be spend when making decisions
One way in which a business could manage the conflict between behaving ethically and growing the business
They can find a mix in between, for example finding company’s that are cheaper because they don’t act ethical but they aren’t unethical, they are somewhere in the middle
Two reasons that some business are affected by ethical issues more that others
Customers sometimes have no other options due to it being a small market
Some products are priced so low that customers will turn a blind eye to it.
A business is identified by the media as a business who 100% of its employees are on a 0 hour contract. Recommend two ways that the business could improve its ethical profile.
It could offer a lot more contracts out for full or part time work as this would provide job security
They could also talk about why some of there employees are on a 0 hour and how it can benefit them
A uk business is identified in the media as outsourcing to factories in developing countries with poor health and safety practices. Recommend two ways that the business could improve its ethical profile
They could move there factory’s to uk factory so they have to comply to local legislation
They could improve the health and safety abroad and report back on it
