Note that your final mark will not be saved in the system.
Stakeholders GapFill
You must fill all the gaps before clicking ‘Check Answers!’
Business ethics at level is the understanding that some decisions may have principles behind them; for example, the decision of some tobacco companies to supply cigarettes to children in countries where there are no smoking laws to prevent it. The company understands right and wrong and makes a poor decision based on profits. Young people make excellent cigarette customers as they can become addicted at an early age and will be customers for life.
There is a between ethics and profits. On one hand shareholders demand high and high share prices, but this will mean that unethical decisions may be taken. For example in Indonesia Nike does not pay its workers a living wage and in other developing nations Nike has a poor record of working .
At a strategic level a business can take ethics into its heart and develop a corporate social (CSR) policy. This outlines how the business intends to trade in terms of , pay, resources and contribution to its local community, etc.
Another ethical dilemma occurs in large corporations which pay top executives overinflated . This includes the banking industry, which has been accused of creating huge income in the UK.