BU 3.4.4 Business Ethics

Question 1

define Business Ethics

Answer 1

Moral principles guide the way a business behaves. Businesses must consider the impact they have on all stakeholders.

Question 2

what are the four different ethical decisions

Answer 2

Environment,workers, coruption and technology

Question 3

what are pressure groups

Answer 3

-Organisations that try to make business change their behaviour or operations
-A pressure group can cause negative publicity for a business that acts unethically which could damage reputation

Question 4

Profits and Ethics

Answer 4

-As with the shareholders vs stakeholders conflict
-Acting ethically can be expensive and is not the fastest way to make a profit

Question 5

CSR definiton

Answer 5

Corporate social responsibility is the belief that a business should act responsibility and protect the interest or its shstakholders

Question 6

Advantages of CSR

Answer 6

-good publicity
-attract ethically orientated customers
-attract motivated employees