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Ethics > Ethics Ch7 > Flashcards

Ethics Ch7 Flashcards

1
Q

Sustainable development

A

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs

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2
Q

Brundtland report

A

Report entitled ‘our common future’ issued by the commission of the United Nations which is aimed to pursue a common goal to support sustainability world wide

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3
Q

Triple bottom line

A

Three components of sustainable development, economic growth, environmental protection, social equality

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4
Q

CSR corporate social responsibility

A

Objectives an policies adopted by an organisation to support sustainability and sustainable development

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5
Q

Public interest

A

The welfare of the general public in which the whole of the society has a stake

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6
Q

Reputational risk

A

A risk of loss resulting from damage to an organisations reputation which could be a result of a poor attitude to sustainable development

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7
Q

Three objectives of sustainable development

A

Economic growth
Environmental protection
Social equality

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8
Q

What is sustainablility

A

The ability to last

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9
Q

Green policies protect ….

A

The environment, save energy and ultimately benefit society

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10
Q

Sustainability involves which issues

A

Economic and social issues

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11
Q

In 1983 the UN United Nations set up the world commission on environment and development (WCED) chaired by who?

A former ……….. prime minister

A

Gro Harlem Brundtland, a former Norwegian prime minister

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12
Q

Profit at all costs

A

Businesses world wide has be able to operate without restrictions their only goal being to generate profit. Increased environmental damage

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13
Q

In 1987 the Brundtland commission as WCED became known, published its what?

A

Report ‘our common future’ the report defined sustainability as..

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14
Q

Report ‘our common future’ the report defined sustainability as..

A

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs

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15
Q

Economic growth relates to…

A

Individual country’s: the growth in the economy of a country should lead to an overall increase in the wealth of that country which benefits its population

Individual organisations: profit generated by organisations will increase the wealth of the owners and employees

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16
Q

Individual country’s:

A

the growth in the economy of a country should lead to an overall increase in the wealth of that country which benefits its population

17
Q

Individual organisations:

A

profit generated by organisations will increase the wealth of the owners and employees

18
Q

Sustainability relies of three factors. Not just the generation of profit.

A

Cheep labour, poor working conditions, use of hydrocarbons effects ozone layer

19
Q

Examples of environmentally friendly policies

A

Supermarkets reward customers for reusing plastic bags, reducing the plastic bags in landfill

Recycling paper metal and certain plastics and dusting recycled office supplies

Promoting car sharing, cycle to work incentives and use the low emmison company vehicles that reduce the carbon footprint of a business.

Only trade with suppliers that have certified green poclicies eg company’s that make toliot paper replace the trees

Encouraging staff to reduce energy usage by turning off lights only filing and boiling kettle with required amount of water.

20
Q

Following green policies also benefit the company eg saving money on energy bills, spend less on expensive resources

A

.

21
Q

Social equality and sustainability

A

Focuses on the wellbeing of people. Extends beyond ensuring employees are happy and well treated in a workplace.

Organisation should consider the social equality of the local community and society as a whole.

22
Q

International news reports regularly highlight extreme poverty and poor living

A

.

23
Q

Some examples of how organisations can promote social responsibility locally and world wide

A

Making charitable donations which help support the socially unprivileged

Only reading with overseas suppliers that can provide evidence of reasonable pay and decent working conditions

Supporting local initiatives to get out of work people back into work

Sponsoring local sports events that give something g back to the local community

24
Q

Corporate social responsibility reports

A

CSR reports. These reports detail how the organisation takes responsibility for supporting sustainable development through policies and procedures. It also identifies to what extent it has achieved its CSR objectives

25
Q

Is there a legal require ment to produce a CSR REPORT

A

No although public and investors are keen to see their attitudes towards sustainability

Enhance reputation

26
Q

CSR initiative

A

Reduce CO2 emissions

Trade with organisations with proven good track record of decent working conditions

Support charitable events (match amounts of fundraising that staff members have raised)

Making regular donations

Setting recycling targets

Promote car sharing

Cycle to work

Use Local suppliers where possible

27
Q

CRS reports should strike a right balance of positive and negative info.

Positive- goals it’s reached

Negative- failed or partially failed goals

A

Too much positive = perceived as over playing their green credentials

28
Q

Public interest duty must consider economic , social and environmental. In order to support sustainability and sustainable development including

A

Ensuring long term responsible management of resources used. By their organisation

Contribute to the running of their organisation in a sustainable manner.

Assessing and minimising. The risks to the organisation and to society as a whole

29
Q

Accountants should promote sustainability

A

.

30
Q

Promoting sustainable practices. For Products and services

A

Eg Ensuring that the products and services supplied by the organisations are produced from sustainability resourced materials and the suppliers staff have fair pay and decent working conditions

31
Q

Promoting sustainable practices. Customers

A

Eg businesses should supply to their customers in a sustainable manner through efficient delivery,

32
Q

Promoting sustainable practices. The employees

A

Encouraging staff to take appropriate qualifications an provide with decent working conditions

33
Q

Promoting sustainable practices. Workplace

A

Implement green policies relating to recycling and conservation of energy, monitoring participation of staff in the schemes .

34
Q

Promoting sustainable practices. The supply chain

A

Encouraging their organisation or client to source supplies from suppliers with an ethical approach to sustainability

35
Q

Promoting sustainable practices. Business functions and processes

A

Accountants should constantly review the way a business operates to ensure that it continues to be operating in a responsible way and that it encourages sustainability and sustainable development

36
Q

Sustainability and sustainable development

A

.

37
Q

Professional accountants have responsibility to uphold sustainability in the work place

A

.

Ethics (12 decks)

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