STEEPLE - Political, Social and Ethical Flashcards
1
Q
Why is Privatization a Political Issue?
A
- Because privatisation is the process of turning a Public Sector business into a private one (Public sector businesses are owned by government)
2
Q
What is Demographics?
A
A statistical view of a population, generally including age, gender, income and so on…
3
Q
Identify 2 recent demographic changes in the UK.
A
- UK population has increased by 7.8 million
- Greater migration into the UK
4
Q
Other social changes that businesses should be aware of.
A
- Changes in the Labour Market
- Changes in competition
5
Q
Ethics Definition?
A
set of moral rules that govern how businesses operate, how business decisions are made and how people are treated.
6
Q
3 examples of unethical business behaviour.
A
- Toyota ignored employee and consumer safety regulations in order to save money (2010)
- Halliburton - traded with countries that trades were prohibited by the US government
- Apple - used child labour and poor working conditions
7
Q
Advantages of Ethical Business behaviour.
A
- Builds customer loyalty (if customers feel like they have been over charged they will not return)
- Enhances a Companies Reputation - (create a positive image for the brand and may get more customer through word of mouth referrals
8
Q
What does GDP stand for?
A
- Gross Domestic Product
9
Q
Two ways that the government could benefit from economic growth.
A
- Economic Growth brings higher tax revenue for the government
- Government spends less money on unemployment benefits.
