Ethics Flashcards
What are ethics ?
A businesses decision on what is morally right or wrong.
Ways business can be ethical.
Are suppliers paid on time.
Are employees treated fairly.
Are consumers aware of materials are used.
Is advertising truthful and fair.
How does being ethical impact profit?
Environmentally products - More costly
Employees need high quality training - Could leave after training
Offer low priced offers to people such as OAPs
Acting in socially responsible ways
What is fair trade ?
Fair prices are paid to produces in poorer countries.
What is social responsibility ?
An approach to managing businesses in which the interests of all groups in society are taken into account when making decisions.
Different types of air pollution.
Natural
Agricultural
Industrial
Transport
