Influences On Businesses

Question 1

Ethical considerations in businesses

Answer 1

-treatment of workers
-sourcing of materials
-treatment of suppliers
-treatment of customers and marketing decisions

Question 2

Advantages and disadvantages of behaving ethically

Answer 2

A- sales may be higher because reputation for being ethical will lead to trust from customers
D- costs may be higher as fair wages

Question 3

Environmental considerations you need to learn

Answer 3

Sustainability, waste disposal, pollution, climate change

Question 4

Advantages and disadvantages of being environmentally friendly

Answer 4

A- sales may be higher because customers prefer to buy from a business that cares about the environment
D- costs may be higher if materials produced are more expensive

Question 5

What is globalisation

Answer 5

Process by which business activity around the world has become increasingly interconnected

Question 6

How businesses are interconnected (globalisation)

Answer 6

Global production, global buying and selling, global movement of capital, global movement of people

Question 7

Advantages and disadvantages of locating abroad

Answer 7

A- lower production costs because labour, land, technology is cheaper in some countries
D- sales may be lost if customers don’t like buying good made abroad