ethical considerations Flashcards
def
moral principles of right and wrong
ethical behaviour in other countries
some countries have no laws on amount of hours a low pay so firms set up here to reduce labour costs - many people believe this is unethical as it exploits them.
businesses can write codes of conduct for factories they oversea meaning they can make sure workers are treated ethically e.g. limits of number of hours worked - they carry out checks to enforce this
firms that buy raw mats from other countries can chose fairtrade sources.
ethical behaviour in the UK as well
keep personal details private, provide a comfortable working environment
benefits and drawbacks of acting ethically
can be costly - higher labour costs
higher raw mats costs
firms can advertise their ethical products to gain customers as many people believe ethical practices is more important than price
shareholders are likely to invest in a firm that is ethical - the better staff are treated the more motivated they are
