| A | B |
|---|
| Ethics | Moral principle/values used for decision making. |
| Business Ethics | Moral principle/values used for decision making in a business context. |
| Is Business Ethics subjective (based on opinions) of objective (based on facts). Why? | Subjective - What is right or wrong? |
| How do individuals affect how ethical a business is? | Individuals have their own moral values/principles. |
| What type of corporate culture led to the collapse of Enron? | Shareholder concept |
| How can the media lead to ethical behaviour by businesses? | Fear of negative publicity. |
| What will competitors do if another business had adopted an ethical stance? | Competitors will also adopt an ethical stance. |
| Give two marketing benefits of a business adopting an ethical stance? | USP, strong brand image, increased reputation (promotion). |
| What is the major financial disadvantage of a business adopting an ethical stance? Why? | Reduced profitability - higher costs. |
| Why might productivity improve if a business adopts an ethical stance? | Attracts more highly skilled/qualified employees. |
