GCSE BUSINESS EDEXCEL-Ethics and Environment

studied byStudied by 0 people
0.0(0)
Get a hint
Hint

what does ethics mean?

1 / 22

23 Terms

1

what does ethics mean?

moral principles that govern business behaviour

New cards
2

what is ethical business behaviour?

operating to meet the wider needs of their stakeholders

New cards
3

how could a business become more ethical?

pay higher working wages, reduce packaging, reduce pollution

New cards
4

what are the advantages of a business trading ethically?

increased sales, more motivated staff, competitive advantage

New cards
5

what are the disadvantages of a business trading ethically?

moving production into countries where child labour is normal is expensive, business can’t maximise profits for the shareholders

New cards
6

what is a trade off?

a compromise between one thing and another

New cards
7

what does environmental mean?

relating to the natural world and the impact of human activity on its condition

New cards
8

what does sustainable mean?

being able to be maintained at a certain rate or level

New cards
9

what is a renewable resource?

water, wind, wood

New cards
10

what is a non-renewable resource?

gas, oil, coal (fossil fuels)

New cards
11

how can a business be sustainable?

use renewable sources of energy, producing goods without chemicals

New cards
12

why is smaller packaging better for the environment?

you can fit more products in transportation-this helps stop traffic congestion

New cards
13

what does recycling mean?

the process of converting waste into reusable material or new products

New cards
14

how can a business be more environmentally friendly?

recycle ink cartridges, using solar energy, online marketing, recycling old batteries, using facetime, cycling to work, using email

New cards
15

how can a business be more sustainable?

limiting damage to the environment, using renewable materials, producing goods without chemicals

New cards
16

what impact does the air pollution law (a business neds to have a permit if they are going to pollute the air, risk of a £20,000 fine and prison sentence if not) have on a business?

the overall costs will get higher

New cards
17

what are the advantages of a business trading with the environment in mind?

can use their ‘green’ credentials to market their products, invest in greener energy

New cards
18

what are the disadvantages of a business trading with the environment in mind?

greener products are more expensive to manufacture, solar panels are a big investment which pushes up costs for the business

New cards
19

how will environmental and sustainable changes impact the reputation of the business?

giving the business a bigger competitive advantage, gaining more popularity due to being ethical

New cards
20

what is a pressure group?

organisations who try to influence what consumers think about the business and its environment (Greenpeace)

New cards
21

what actions can pressure groups do to influence businesses?

writing letters to mps, writing letters to the press, running campaigns

New cards
22

how can a pressure group influence the marketing mix?

boycott specific products, damage a brand with bad publicity, more research and development costs

New cards
23

how can a pressure group impact a business?

pressure groups starts a campaign against a business, consumers have new information about the product so now don’t trust the brand, revenues fall, sales fall, profits fall, business changes the way it trades (to be more ethical)

New cards

Explore top notes

note Note
studied byStudied by 13 people
... ago
5.0(1)
note Note
studied byStudied by 4 people
... ago
5.0(1)
note Note
studied byStudied by 4 people
... ago
5.0(1)
note Note
studied byStudied by 47 people
... ago
5.0(1)
note Note
studied byStudied by 56 people
... ago
5.0(3)
note Note
studied byStudied by 29 people
... ago
5.0(3)
note Note
studied byStudied by 6 people
... ago
5.0(1)
note Note
studied byStudied by 181 people
... ago
5.0(3)

Explore top flashcards

flashcards Flashcard (46)
studied byStudied by 4 people
... ago
5.0(1)
flashcards Flashcard (28)
studied byStudied by 16 people
... ago
5.0(1)
flashcards Flashcard (30)
studied byStudied by 19 people
... ago
5.0(2)
flashcards Flashcard (28)
studied byStudied by 5 people
... ago
5.0(1)
flashcards Flashcard (55)
studied byStudied by 3 people
... ago
5.0(1)
flashcards Flashcard (55)
studied byStudied by 12 people
... ago
5.0(1)
flashcards Flashcard (33)
studied byStudied by 65 people
... ago
5.0(1)
flashcards Flashcard (96)
studied byStudied by 6 people
... ago
5.0(1)
robot