business ethics

• What is business ethics primarily concerned with?

  Doing morally the right thing
• Which departments should be considered when thinking about business ethics?

  Marketing, operations, HR, finance
• How can operations be unethical in business?

  By exploiting producers in developing countries
• What is a consequence of exploiting producers?

  Reducing their living standards
• What is an unethical practice in HR?

  Using zero-hour contracts for employees
• How can finance be unethical in business?

  By using tax havens to avoid taxes
• What is the heart of the debate in business ethics?

  The trade-off between ethics and profits
• Why might being ethical lead to lower profits?

  Increased costs or lower revenues
• How can ethical marketing affect profits?

  It may lead to lower sales from children
• What happens to profits if operations become ethical?

  Costs will increase, leading to lower profits
• What is the impact of ethical HR practices on costs?

  Higher wage bills will increase costs
• What is the financial consequence of not using tax havens?

  Paying more taxes increases costs
• What might a company do to counteract lower profits from being ethical?

  Increase prices to gain extra revenue
• How does increasing prices affect demand?

  It likely leads to lower demand
• What are the potential problems of being ethical in business?

  • Lower profits due to increased costs
  • Possible need to raise prices
  • Reduced demand from higher prices
• What are the benefits of adopting ethical practices in marketing?

  • Attracts customers who value ethics
  • Can lead to increased sales and revenue
  • Enhances brand reputation and loyalty
• What are the advantages of ethical finance for companies?

  • Attracts ethical investors
  • Access to loans for expansion
  • Potential for long-term profits
• How can ethical HR practices improve employee performance?

  • Increases motivation and job satisfaction
  • Leads to higher productivity
  • Can reduce average costs and increase profits
• What is the main focus of the debate in business ethics?

  Ethics versus profits