6.1 Ethical and environmental considerations

• Ethics refers to the moral principles that guide a business's behavior and decision-making
• Match the ethical practice with its unethical counterpart:

  Honesty and transparency in dealings ↔️ Deception and misleading advertising

  Fair treatment of employees ↔️ Exploitation of workers

  Environmental sustainability ↔️ Disregard for environmental impact

  Contribution to the local community ↔️ Prioritizing profits over social responsibility
• Deception and misleading advertising are ethical business practices.

  False
• Match the environmental consideration with its importance:

  Resource Consumption ↔️ Reduces environmental impact and costs

  Waste Management ↔️ Minimizes pollution and environmental damage

  Carbon Emissions ↔️ Combats climate change and meets regulatory requirements

  Sustainability ↔️ Ensures long-term viability and minimizes ecological footprint
• Addressing environmental considerations helps businesses comply with regulations and avoid legal penalties
• Environmental sustainability is an ethical practice that contrasts with disregard for environmental impact
• Ethical behavior builds trust with stakeholders.


  True
• Fair treatment of suppliers is an example of ethical practice.


  True
• Proper disposal and recycling of waste is part of effective waste management
• Steps in the ethical decision-making process:

  1️⃣ Identify the ethical issue

  2️⃣ Gather relevant information

  3️⃣ Consider multiple perspectives

  4️⃣ Apply ethical frameworks

  5️⃣ Consult ethical codes of conduct

  6️⃣ Evaluate the options

  7️⃣ Make the decision
• Recycling and reusing materials are examples of circular economy practices
• Ethics refers to the moral principles that guide a business's behavior and decision-making
• Ethical businesses are more likely to be sustainable in the long run.


  True
• Proper disposal and recycling of waste minimizes pollution and environmental damage
• The final decision should align with the business's ethical principles and values.


  True
• Environmental sustainability initiatives aim to reduce a business's environmental impact
• Ethical businesses are more likely to be sustainable in the long run
• Ethical practices create a positive work environment and help attract and retain talented employees
• Waste Management involves the proper disposal and recycling of waste to minimize pollution and environmental damage
• Why is reducing carbon emissions important for businesses?

  Combats climate change
• What is one benefit of ethical employee treatment for a business?

  Increases morale and retention
• Ethics refers to the moral principles that guide a business's behavior and decision-making.moral
• Ethical businesses are more likely to be sustainable in the long run
• Match the environmental consideration with its importance:

  Resource Consumption ↔️ Reduces environmental impact and costs

  Waste Management ↔️ Minimizes pollution and environmental damage

  Carbon Emissions ↔️ Combats climate change and meets regulations

  Sustainability ↔️ Ensures long-term viability and ecological balance
• What is the first step in the ethical decision-making process?

  Identify the ethical issue
• What are two examples of ethical initiatives in business?

  Stakeholder engagement, fair treatment
• Why is long-term sustainability a key benefit of ethical business practices?

  Builds strong stakeholder relationships
• Ethical practices create a positive work environment and help retain talented employees
• What are the key environmental considerations for businesses?

  Resource consumption ||| Waste management ||| Carbon emissions ||| Sustainability
• Consulting ethical codes of conduct is a key step in the ethical decision-making process
• Match the ethical initiative with its description:

  Stakeholder engagement ↔️ Involving employees and customers in decision-making

  Fair employee treatment ↔️ Providing safe working conditions

  Transparent communication ↔️ Honest and open dialogue with stakeholders

  Charitable donations ↔️ Investing in community projects
• What are ethical initiatives in business defined as?

  Ethical behavior and social responsibility
• What is the primary goal of environmental sustainability initiatives?

  Reduce environmental impact
• Implementing ethical and environmental sustainability initiatives can improve a business's reputation.


  True
• Higher initial investments are a negative impact of ethical and environmental considerations.


  True
• What can result from failure to comply with laws related to ethical practices and environmental protection?

  Legal penalties and fines
• Building trust and a positive reputation is an impact of ethical considerations
• Prioritizing ethical and environmental considerations can enhance long-term sustainability.


  True
• Ethical behavior builds a positive reputation and fosters trust with stakeholders.

  True
• What is one reason why ethical behavior is important for a business?

  Builds reputation and trust