Ethical Factors Flashcards
1
Q
What is the definition of ethics?
A
Concerned with the judgment on whether something is morally right or wrong
2
Q
State three examples of ethical issues
A
Child labour, zero hour contracts, redundancy and director bonuses
3
Q
How can buisnesses be more ethical?
A
“Buy on donate one” model,make clothes from sustainable sources, use local manufacturers and donate to charity
4
Q
Name 3 benefits of ethical behaviour
A
Attract new customers, attract better employees, encourages investment, creates positive publicity
5
Q
State 3 disadvantages of acting ethically
A
Higher costs, building up false expectations, less price competitive, won’t please everyone
