BUSINESS ETHICS

Question 1

BUSINESS ETHICS

Answer 1

RESPONSIBILITY
TRUST
MORALITY
BEHAVIOR
RELIABILITY
PRINCIPLE
CHOICE
RELATIONSHIP

Question 2

is a moral principle or set of moral values held by an individual or a group.

Answer 2

An ethic

Question 3

is behaviour which is considered to be right and moral.

Answer 3

Ethical Behavior

Question 4

are the values and principles which operate in the world of business. They form the moral framework of the organization.

Answer 4

Business ethics

Question 5

Who cares about business ethics?

Answer 5

Customers
Managers/Owners/Shareholders
Pressure Groups/Activists
Workforce
The Community Trading Partners

Question 6

Why be ethical?

Answer 6

•Create good image and good press
•To act within the law
Because the owners want to be
•It is one of their unique selling points
•To attract customers/employees/investors
•To be socially responsible

Question 7

Companies often find it difficult to please all of its stakeholders, as they have different interests.

Being ethical depends on an individual view of what is right and wrong. What might be considered good behaviour to one individual, may seem bad to another.

Ultimately companies aim to make a profit and sometimes this can conflict with acting in a responsible way.

Larger, global companies can often find it difficult to regulate their activities in other countries.

Answer 7

Two sides to every story

Question 8

The worst offenders

Answer 8

1)McDonald’s
2) Nike
3)Shell
4)Adidas
5)Barclays
6)Coca-Cola
7)BP
8)Camelot (National Lottery)
9)American Express