Ethics Flashcards
1
Q
What are ethics?
A
Having moral principles that govern how a company does business
2
Q
What are some ethical corporate objectives?
A
-low emission
-safe waste disposal
-paying fair wages
-sustainable materials
3
Q
What is inwards direct investment ?
A
A foreign business investing in the local economy
4
Q
What is outward direct investment?
A
When a domestic business expands its operations into another country
5
Q
Pros and cons of being ethical:
A
Pros:
- good reputation
- customers willing to pay increase prices
- reach new ethical consumers, so increase sales
Cons:
- lower profits
- may have to increase prices
