Business Ethics Flashcards
Business ethics
The morals and principles that underpin a businesses behaviour
Ethics
About what is right and wrong
Law
About what is lawful and unlawful
Corporate social responsibility
A business initiatives regarding the community and environment and willingness to take responsibility for the effects the companies actions have on the environment and social issues
Factors influencing what extent to which a business is ethical
Type of business, where business operates, financial position, stance of leader, local community
A moral
Seeks to win at all costs, anything unethical is acceptable
Legalistic
Will obey the law but nothing more than that
Responsive
Accepts that being ethical can pay off
Ethical
Ethical practices are at the centre of the business
Pressure groups
Cause conflicts within a community by voicing opinions that a business finds difficult to ignore
Ethical trading policy
Is a code of practice for a business that they can choose whether to publish or not
