External unit (Business Ethics) Flashcards
What are business ethics?
Business ethics are a set of values and principles that influence how organisations behave.
What does behaving ethically involve?
Behaving ethically involves undertaking morally right, sustainable actions that are not primarily for profit maximisation.
What is B-Corp status?
B-Corp status is a certification awarded to businesses that meet high standards of social and environmental performance, transparency, and accountability.
What is required for a company to achieve B-Corp certification?
Companies must achieve a score of at least 80 on B Lab’s Impact Assessment and pass its risk review.
Can you name an example of a B-Corp certified organisation?
Examples include Patagonia and Ben & Jerry’s.
What is green-washing?
Green-washing is when organisations give a false impression about how environmentally friendly their products are.
What is rainbow-washing?
Rainbow-washing refers to superficial support for the LGBTQ+ community without substantial actions to assist them.
What are some benefits of ethical business practices for consumers?
Ethically minded consumers feel good about their purchases when they know an organisation operates ethically.
How do ethical practices benefit employees?
Employees are more likely to be committed and motivated, leading to higher job satisfaction.
What are the costs of ethical practices for consumers?
Consumers may face higher prices for ethically sourced products.
What impact can unethical business practices have on employee morale?
Employees may lose respect for their bosses, leading to low morale.
What environmental challenges do organisations face?
Organisations face challenges such as climate change, environmental pollution, and the need for sustainability.
What is the impact of using green energy in production?
Using green energy reduces pollution and reliance on fossil fuels.
What is the effect of using recycled paper?
Using recycled paper reduces the need to cut down trees and decreases landfill waste.
What is the significance of ESG criteria?
ESG criteria evaluate a company’s performance beyond financial figures, considering environmental and social impacts.
What is corporate citizenship?
Corporate citizenship emphasizes a company’s role as a responsible member of society beyond just business operations.
What is sustainability in business?
Sustainability involves meeting present needs without compromising the ability of future generations to meet their own needs.
What is the role of charities in ethical business practices?
Charities may benefit from corporate giving, allowing them to help more people and raise awareness about important causes.
What is the impact of unethical practices on an organisation’s credibility?
Unethical practices can lead to a loss of credibility, resulting in customer boycotts and reduced sales.
What is the relationship between ethical practices and employee turnover?
Unethical practices may lead to increased employee turnover, raising recruitment and selection costs.
What is the significance of the Surfers Against Sewage audit?
The audit identifies companies responsible for significant pollution, urging them to take responsibility for their products’ life cycles.
How can using local suppliers benefit the environment?
Using local suppliers reduces pollution from transportation and supports local economies.
What is Sky Academy?
Sky Academy offers scholarships for further education and paid graduate programmes to work at Sky. It includes a team of over 90 world-class athlete mentors and saw 105,000 young people participate in 2014.
What percentage of subtitling and audio description has Sky achieved?
Sky has achieved 82% subtitling and 22% audio description across 24 Sky channels.
What is the purpose of Sky Rainforest Rescue?
Sky Rainforest Rescue helps to protect one billion trees in the Amazon rainforest and raised over £4 million in 2014, matched by Sky for a total of £8 million.
What initiatives has Sky taken to promote greener travel?
Sky has increased the use of video-conferencing suites and promotes a cycle to work scheme to minimize transport emissions.
What percentage of Sky staff donated to charity in 2014?
On average, 5% of staff agreed to give donations directly from their salary to charity.
How has Sky reduced its emissions since 2008?
Since 2008, Sky has reduced its emissions by 40% and featured in the Carbon Performance Leadership Index.
What improvements did Sky make to its Scotland offices in 2014?
Sky added 2 biomass boilers, leading to a reduction in electricity usage by almost a third and a 70% decrease in gas usage.
What rewards does Sky offer customers for returning devices?
Sky offers customers rewards, such as vouchers redeemable in over 130 UK high street stores, for returning Sky devices that are no longer in use.
What is the definition of ethics/CSR?
Ethics/CSR refers to the principles and standards that guide behavior in the world of business.
