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Business Studies Steve Emma Rudd BMA




Business Studies ­ External Influence Ethics and Social Responsibility
Notes

Ethics may be defined as a code of behaviour, which is considered morally correct. A
business's social responsibilities are the duties it has to employees, customers,
society and the environment, as well as to…

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Business Studies Steve Emma Rudd BMA




Advantages: Advantages:
If successful, the business may It avoids conflicting objectives ­
enjoy higher longterm profits. managers simply take decisions in
It is likely to improve a business's the interests of the shareholders.
public image as it receives This approach may improve short
favourable…

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Business Studies Steve Emma Rudd BMA




Working for the Community
Firms can gain considerable benefits from behaving responsibly with regard to the
wider community.

Voluntary Work
Meeting their responsibilities to employees can be costly but also has the potential
to offer considerable benefits to businesses. Firms can fulfil these responsibilities…

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Business Studies Steve Emma Rudd BMA





Ethical behaviour requires businesses to operate within certain moral guidelines and
to do the `right thing' when taking decisions. An ethical decision would take into
account the moral dimension, but not everyone would agree on what is ethical. Some
may argue that it is…

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Business Studies Steve Emma Rudd BMA




Unethical actions by businesses are likely to be covered in the media and to influence
the public's view of the business. Such stories are increasingly newsworthy at a time
when consumer's expectations of business behaviour are increasing. This is placing
great pressure on businesses…

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