Ethics

Question 1

What is ethics?

Answer 1

Refers to whether a business decision is thought to be morally right or wrong

Question 2

What is social responsibility?

Answer 2

An approach to managing a business in which the interests of all groups in society are considered when making decisions

Question 3

What are ethical objectives?

Answer 3

Targets set by a business to help ensure that its objectives are morally correct

Question 4

Examples of ethical business behavior:

Answer 4

Treating employees ethically, treating consumers ethically, treating suppliers ethically, treating local and wider community fairly.

Question 5

What are zero hour contracts

Answer 5

Contracts which do not guarantee employees any working hours each week

Question 6

What is fair trade?

Answer 6

Fair trade products are those for which customers pay higher prices and offer better trading terms to improve the standard of living in poorer countries where the products are produced

Question 7

How can a business be more sustainable?

Answer 7

Using renewable resources
Using non-polluting sources of energy
Avoiding the use of chemicals or other items that harm the environment during production
Reducing the effects of waste disposal.

Question 8

How business activity can harm the environment:

Answer 8

Traffic congestion, polluting land, sea and air, noise pollution, contribute to global warming, using scarce resources