Buisnes Ethics

Question 1

Corporate social responsibility

Answer 1

A sense that buisnesses have a wider responsibility than to simply shareholders

Question 2

Whistleblowing

Answer 2

Employee disclosing wrongdoings of s company to the public

Question 3

Globalisation

Answer 3

Integration of Econ and interlinking of trade

Question 4

Consumerism

Answer 4

The beleif that acquiring lots of material goods is important

Question 5

Milton Friedman buisness ethics

Answer 5

Buisnesses only objectives is to increase profits

Question 6

Reagan and thatcher

Answer 6

Trickle down economics by allowing buisness to flourish all will benefit

Question 7

Why may being ethical be beneficial to companies

Answer 7

Increase brand image and increased employee benefits increases incentive to work hard

Question 8

Costco good ethics = good buisness

Answer 8

Pay double national average salary and close for holidays yet have one of the worlds highest profit margins

Question 9

Why is good ethics bad for buisnesses

Answer 9

Faiulure to push costs down so no profit Max
Competition = Hugh costs = less competitive
Ethical practises are costly

Question 10

Utilitarianism on buisness

Answer 10

Ethical decisions are based on the consequences of their actions that result in the greatest good = ethical
Application = stakeholders > shareholders as utilitarianism wants companies to benefit majority

Question 11

Kantian ethics

Answer 11

Focus on duty and adherence to moral principles
Buisnesses should act in a way that treats people well and respects rights snd dignity as is good will

Question 12

Rana plaza

Answer 12

Crush of massive production factory due to poor conditions

Question 13

Sports washing

Answer 13

Using sports to clean the reputation of a doggy country or brand

Question 14

Globalisation pros

Answer 14

Consumers have more choice and pay less

Question 15

Globalisation cons

Answer 15

Foreign workers may be exploited