STEEPLE ethical factors

Question 1

What are examples of ethical issues?

Answer 1

Child labour
Zero hour contracts
Animal testing

Question 2

What are some reasons for behaving ethically?

Answer 2

Creating a niche market so can charge higher prices

Question 3

What are reasons to behave unethically?

Answer 3

Maximise profits so larger dividends for shareholders

Lower costs so more people can afford and aid survival to create jobs

Question 4

What are ways of improving ethical profile?

Answer 4

Training people
Providing access to programmes like anti bullying and education
Parter with local manufacturers when donating
Donate % of slaves to charity/ good cause
More sustainable materials + production

Question 5

What are the advantages of ethical behaviour?

Answer 5

Attract new customers to the business
Encourage employees to stay with a business
Encourage investment
Create positive publicity

Question 6

What are the disadvantages of behaving ethically?

Answer 6

Increased costs
Danger of building up expectations
Less competitive on price
Could lead to less output (limit on hours worked)

Question 7

Why are some businesses affected more by ethics than others?

Answer 7

Larger business = more well known so more attention from media and customers
Business involved in outsourcing to countries with different laws more likely to be affected
Lower price points - seek to lower the price of production