Business ethics

Business ethics- moral rules that guide business decisions, helps decide when a decision is right or wrong, profitable or not.

Examples:fair wages, fair price, good quality products and reducing pollution

SHEIN is an unethical company.

Reasons: low wages, huge amounts of clothing produced that ends up in landfills

The body shop is a ethical company

Reasons: against animal testing, community fair trade, recycling plastic

When buying a product from a company you should ask yourself these 3 questions:

1. Is it legal

2. Is it fair

3. Will I feel proud using this item

Ben and jerrys- circular economy

• minimise waste •reuse natural resources

IMPORTANCE OF ETHICS + SUSTAINABILITY

1. Improves reputation-Positive perception and brand loyalty.

2. Attracts investors-Sustainable companies attract more investors.

3. Legal-Sustainable company’s will not break any laws so they won’t be fined (vw scandal)