Ethical And Environmental Considerations
Overview
A buyer for a clothing chain is offered the same shirt by two factories. One quotes 4.10 and can prove that its workers are paid the legal wage in a building that has been inspected. The other quotes 2.80 and will not say where the work is done. Nothing in the buyer's job description tells her which to choose, and both answers are defensible right up until something goes wrong.
That is the shape of every question in this topic. In this lesson you will learn what ethical behaviour means in business and what it costs, why environmental responsibility is now expected rather than optional, and what sustainability actually requires. Above all you will learn to handle the trade-off: the specification uses that word twice, once for ethics against profit and once for sustainability against profit, and the extended questions on these papers are built on it. The best answers here are not the ones that say a business should always do the right thing. They are the ones that show what the right thing costs and who pays.
Objectives
- Ethical considerations.
- Environmental considerations:
- impact on traffic congestion
- recycling
- disposing of waste
- noise and air pollution.
- Sustainability:
- global warming
- using scarce resources.
Mind map
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Lesson Note
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Lesson Evaluation
Congratulations on completing the lesson on Ethical And Environmental Considerations. Now that youve explored the key concepts and ideas, its time to put your knowledge to the test. This section offers a variety of practice questions designed to reinforce your understanding and help you gauge your grasp of the material.
You will encounter a mix of question types, including multiple-choice questions, short answer questions, and essay questions. Each question is thoughtfully crafted to assess different aspects of your knowledge and critical thinking skills.
Use this evaluation section as an opportunity to reinforce your understanding of the topic and to identify any areas where you may need additional study. Don't be discouraged by any challenges you encounter; instead, view them as opportunities for growth and improvement.
- Which one of the following best describes ethical behaviour by a business? A. Acting in ways stakeholders consider fair and honest B. Doing whatever produces the largest profit C. Following every law of the country it operates in D. Giving all of its profit to charity Answer: A
- Which one of the following is an environmental concern named in the specification? A. Interest rates B. Noise and air pollution C. Staff turnover D. The exchange rate Answer: B
- Which one of the following is most likely to be a drawback to a business of behaving ethically? A. Customers become more loyal B. It is easier to recruit staff C. Its costs rise, so it may have to charge more than competitors D. Its reputation improves Answer: C
- Which one of the following best describes sustainability? A. Giving a share of profits to environmental charities B. Making the largest possible profit each year C. Obeying all environmental laws D. Operating in a way that could continue indefinitely without using resources faster than they are replaced Answer: D
- A factory reduces the packaging it uses by a third. Which one of the following is the most likely effect on the business? A. Its material costs fall as well as its waste B. Its fixed costs rise sharply C. Its products become unsafe to transport D. It must stop selling in some markets Answer: A
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