Ethical Factors - Corporate Social Responsibility

Question 1

what are ethics

Answer 1

concerned with the judgements about whats right and wrong in a particular sisutation

theres no legal requirements for a buisness or its employees to operate ethically (NOT A LEGAL OBLIGATION)

Question 2

benefit of acting ethically

Answer 2

• can attract new customers
• encourage investment
• create positive publicity
• increased sales and profits
• attract better and new employees
• encourage employees to stay with the business

Question 3

examples of ethical buisness

Answer 3

• paying living wage
• treating workers well
• not harming the environment
• sponsership work with community or charity work
• not discriminating at all
• behaving responsibly towards all employees by being aware of business affects on others i.e. local community

Question 4

not behaving ethically

Answer 4

• harm a business’ reputation
• keading to failure or a drop in profits
• public acting out

Question 5

CSR

Answer 5

the wider responsibility of the buisness to other stakeholders and society

now typical of many UK businesses now

a recognition that the business is no longer judged solely on its ability to deliver the good/service - delivery manner more important

CARE MORE THAN JUST ABOUT PROFITS
good returns in profit for a small monetary investment

Question 6

concerned with:

Answer 6

• environment and ethical issues
  (responding to demands of society and government to play their part in these areas of global warming, pollution etc. + 5p bags in shops, recyable packaging)
• charity and fundraising
  (to raise their business profile)
• diversity
  (their operations should better represent and include a more respresentation of our diverse UK population)
• financial responsibility
  (the financial sector has had to become more aware of the need to control access to credit cards + loans especially to those more financial vulnerable)