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Critically evaluate the Ethical Practices USed in Recent Business

Critically evaluate the Ethical Practices USed in Recent Business

Grade:

2 Answers

Rahul Kumar
131 Points
9 years ago

The advantages of ethical behaviour include:

  • Higher revenues – demand from positive consumer support
  • Improved brand and business awareness and recognition
  • Better employee motivation and recruitment
  • New sources of finance – e.g. from ethical investors

The disadvantages claimed for ethical business include:

  • Higher costs – e.g. sourcing from Fairtrade suppliers rather than lowest price
  • Higher overheads – e.g. training & communication of ethical policy
  • A danger of building up false expectations
paramesh vm
18 Points
9 years ago

ethical practises used in recent business?

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