Ethical considerations + Environmental influences

Question 1

What are ethics?

Answer 1

• ethics are the moral principles of what’s right and wrong
• It’s important stakeholders feel businesses are doing what’s being fair and honest

Question 2

Disadvantages of being ethical for a busineess

Answer 2

• Can be costly for a firm-higher labour costs, higher price for ethically sourced raw materials.
• Can be less profit due to increased costs meaning a business may have to increase prices which may lead to lower sales
• can take time to find and revise ethical products

Question 3

Advantages of being ethical on a business

Answer 3

• Good publicity
• motivated workers
• customers may share same views as you and dont mind paying more
• shareholders might be more likely to invest

Question 4

Examples of treating workers ethically

Answer 4

• paying a fair wage
• providing good working conditions
• allowing flexible working

Question 5

Examples of treating supplier ethically

Answer 5

• paying fair prices - eg. Fair trade
• having reasonable expectations
• paying bills on time

Question 6

What can happen if a business is not ethical

Answer 6

• Bad publicity
• Boycotted
• less sales

Question 7

What are some things businesses do that are not ethical

Answer 7

• Set up factories in countrys where workers work long hours
• pay workers less money to reduce labour costs
• paying unfair prices for raw materials
• child labour/sweat shops
• bad working conditions

Question 8

List negative environmental impacts businesses have on the environment

Answer 8

• Lots of waste that end up in landfills
• traffic congestion form customers, staff and delivery lorries CO² global warming
• factories, lorries and cars can produce air noise and water pollution

Question 9

List ways businesses can be more environmentally friendly

Answer 9

• Reduce the amount of packaging used
• Recycle delivery boxes/unwanted goods
• dispose toxic waste carefully so to not producer land or water
• car share/ cycle to work schemes - less air pol
• buy quieter machinery /sound barriers / insulation

Question 10

Define sustainability

Answer 10

• Sustainability is working in a way that doesn’t damage the earth for future generations
  *

Question 11

How a global businesses actively damaging th earth at the moment

Answer 11

• Resource depletion-many resources are finite like coal and oil and are non- renewable
• Global warming- businesses release carbon dioxide and other greenhouse gasses form factories and power stations . This contributes to global warming

Question 12

pros of bring environmentally friendly

Answer 12

• Competitive advantage
• Subsidies and grants
• Lower costs
• Increased sales

Question 13

Cons of being environmentally friendly

Answer 13

• Increased costs
• can be time consuming
• In accurate claims

Question 14

how can being environmentally friendly increase costs?

Answer 14

• require research
• investment in new production methods.
• suppliers

Question 15

How can being environmentally friendly be time consuming

Answer 15

• Finding suppliers
• finding packaging