Ethics and the environment

• Ethical considerations influence business activity by having standards of behavior and 'doing the right thing', irrespective of profit
• An ethical business will act in a socially responsible way, doing what is right even if it is not required by legislation, and regardless of the impact on profits
• Treating workers ethically includes paying a fair wage, providing good working conditions, and allowing flexible working
• Treating suppliers ethically involves paying fair prices, having reasonable expectations, and paying bills on time
• Treating customers ethically means exceeding expectations, providing what customers need, and giving clear and accurate product and service information
• Businesses that behave unethically are more likely to receive bad publicity and a poor reputation, while ethical behavior can attract customers and increase sales
• Being ethical may result in higher costs for a business, as ethically sourced supplies are often more expensive, but the benefits include motivated workers, customer loyalty, and a positive reputation leading to higher profits
• Businesses are increasingly judged on the contribution they make to society, with ethical behavior and environmental responsibility being key aspects of corporate social responsibility
• A green audit is an assessment of a business' activities to measure its environmental impact, which may involve measuring its carbon footprint
• The four main environmental issues that influence business activities are climate change, pollution, sustainability, and waste reduction
• Climate change refers to long-term alterations in weather patterns, with business activities contributing to global warming through the burning of fossil fuels and deforestation
• Pollution commonly refers to the contamination of air or water with harmful chemicals, impacting health and ecosystems
• Sustainability in business means meeting current needs without depleting natural resources, often achieved through using renewable energy and recycling materials
• Waste reduction in businesses involves minimizing waste production, seeking ways to reuse waste materials, and avoiding environmentally harmful disposal methods like incineration or landfills
• Being environmentally friendly can lead to benefits such as subsidies, grants, lower costs, increased sales, but it can also entail increased initial costs, time consumption, and the risk of inaccurate environmental claims
• A pressure group is a group of people who try to influence business activity in the interests of their members and supporters
• Pressure groups, also known as interest groups, are groups of people who share a common interest and try to influence the decisions made by businesses, organisations, or governments
• Many pressure groups aim to influence businesses to behave more ethically or to act in a more environmentally friendly way
• Pressure groups can influence businesses through various methods like lobbying, organizing boycotts, and using viral marketing
• The actions of pressure groups can impact all four aspects of the marketing mix of a business: product, price, place, and promotion