Topic Three, Part 6 - Ethical Factors Flashcards
1
Q
What are examples of a businesses ethical factors?
A
- Paying more than the minimum legal requirements
- showing consideration for the local community
- considering environmental impact
- adopting anti-discriminatory employment policies
- engaging in the work of charity
2
Q
What are the costs of ethical factors?
A
- Increasing pay will increase production costs
3
Q
What are the benefits of ethical factors?
A
- increased sales
- attracting and retaining employees
- encourage investment
4
Q
What are Corporate Social Responsibility’s (CSR)
A
Businesses recognise that they have responsibilities other than to their shareholders.
