ethical issues Flashcards
what does it mean if a business is ethical
They show moral consideration for others when making decisions
adv of being ethical
-Awards can be granted for being ethical, which can be used for promotional purposes
-Business with an ethical reputation can attract customers and quality staff who agree with their purposes
disadv of being ethical
-Audits are needed to ensure standards are met and maintained, which may be time consuming
-Decision-making could be more complex and time consuming as many possible solutions may not be appropriate because they are not ethical
what does philanthropy mean
means having a ‘love for humanity’. In other words, giving
to those in need.
This could be through charitable donations, giving away goods or setting up a charitable trust as part of the organisation.
what does animal welfare mean
The moral considerations of the treatment and wellbeing of animals
This might include the conditions that animals are kept in, the way they are handled, animal testing and the use of animal-derived ingredients.
examples of how a business can improve their commitment to animal welfare
-The ‘leaping bunny’ symbol awarded to products that are entirely cruelty free.
-The free range classification of eggs and egg-derived products
-The use of synthetic materials rather than leather, fur or wool.
Describe what is meant by ‘Fairtrade’
When suppliers of raw materials receive a guaranteed and fair price for their goods.
Fair trade also ensures that employees in the supply chain are fairly treated
adv of Fairtrade
-businesses are awarded the Fairtrade mark on their products, which can appeal to customers
-stocking fair trade goods demonstrates the retailer’s ethical commitment to its customers
-businesses that are fair trade have a positive impact on the producers of the raw materials with which they work and have a better relationship with the supply chain
disadv of Fairtrade
-losing a fairtrade mark after gaining one will result in bad publicity
-Fair trade products are often more expensive
-the business has a more limited choice of suppliers
