Environmental Concerns And Ethical Issues As Both Opportunities And Constraints For Businesses:
Overview
Every factory and shop affects the world around it, sometimes by polluting a river, sometimes by creating jobs that lift a community. Customers, governments and pressure groups increasingly judge businesses not just on price but on how they treat the planet and behave ethically.
This lesson explains how business activity affects the environment, the idea of externalities and sustainability, and the ethical issues firms face. By the end you will see how environmental and ethical concerns are both constraints on, and opportunities for, a business.
Objectives
- How business activity can impact on the environment, e.g. global warming
- The concept of externalities: possible external costs and external benefits of business decisions
- Sustainable development; how business activity can contribute to this
- How and why business might respond to environmental pressures and opportunities, e.g. pressure groups
- The role of legal controls over business activity affecting the environment, e.g. pollution controls
- Ethical issues a business might face: conflicts between profits and ethics
- How business might react and respond to ethical issues, e.g. child labour, paying fair prices to suppliers
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Mind map
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Lesson Note
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Lesson Evaluation
Congratulations on completing the lesson on Environmental Concerns And Ethical Issues As Both Opportunities And Constraints For Businesses:. 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.
- An external cost is a cost: A. paid only by the business B. borne by society, such as pollution C. of buying materials D. of paying wages Answer: B
- Sustainable development means meeting today's needs: A. by using all resources now B. without harming future generations' ability to meet theirs C. by ignoring the environment D. only for shareholders Answer: B
- A pressure group is an organisation that: A. sells products B. campaigns on an issue such as pollution C. pays taxes D. lends money Answer: B
- New jobs created for a local community are an example of an: A. external cost B. external benefit C. internal loss D. illegal act Answer: B
- Acting ethically by paying suppliers fair prices may: A. always lower a firm's reputation B. raise costs but build trust and reputation C. break the law D. have no effect on customers Answer: B
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