Ethical and Environmental Considerations

• What are increasingly important in today's business environment?

  Ethical behaviour and environmental sustainability
• Why do stakeholders expect businesses to operate responsibly?

  To ensure social responsibility and sustainability
• How can ethical practices benefit a company?

  They can improve reputation and attract customers
• What challenges do businesses face when balancing ethics with profitability?

  They may struggle with higher costs and trade-offs
• What are the key components of ethical business behaviour?

  • Fair treatment of employees, customers, suppliers
  • Honest advertising
  • Social responsibility initiatives
• How does ethical behaviour enhance a company's reputation?

  It builds trust and loyalty among stakeholders
• What impact does fair treatment of employees have?

  It improves morale, motivation, and productivity
• What can ethical practices lead to in terms of customer behavior?

  Increased customer loyalty
• How does ethical compliance affect legal risks?

  It reduces the risk of legal issues and fines
• What are some challenges of maintaining ethical behaviour in business?

  Higher costs and complex supply chains
• What is a potential drawback of ethical practices?

  Higher production costs
• What trade-offs might businesses face with ethical standards?

  They may sacrifice short-term profits
• What environmental issues must businesses address?

  Pollution, recycling, sustainability, carbon footprint
• What are some environmental responsibilities of businesses?

  Reducing impact, setting sustainability goals, legal compliance
• How can businesses improve their public image through environmental responsibility?

  By supporting environmentally conscious practices
• What can cost savings from environmental responsibility lead to?

  Lower operational costs
• What challenges do businesses face regarding environmental responsibility?

  High initial costs and changing regulations
• What trade-offs might businesses encounter between ethics and profit?

  Higher wages vs. short-term profitability
• How can businesses gain competitive advantages through ethical practices?

  By building brand loyalty and resilience
• What are the benefits and challenges of ethical and environmental considerations in business?

  Benefits:

  • Enhanced reputation and brand loyalty
  • Improved employee morale
  • Cost savings through efficiency
  • Compliance reduces legal risks

  
  

  Challenges:

  • Increased production costs
  • Potential short-term profit trade-offs
  • Complex implementation in global supply chains
  • Adapting to evolving regulations
• What is the conclusion regarding ethical and environmental considerations in business?

  They are critical for modern business strategy
• What is the importance of balancing ethical and environmental priorities?

  Essential for sustainable growth in a conscious market