Business Ethics (Edexcel A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Business ethics examines
Business ethics examines
Moral rights/wrongs of strategic decisions
Code of conduct purpose
Code of conduct purpose
Sets expected standards for ethical decision-making
Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR)
Responsibilities to all stakeholders, not just shareholders
Explicit ethical objectives
Explicit ethical objectives
Formally stated & publicly communicated ethical goals
Implicit ethical objectives
Implicit ethical objectives
Unwritten ethical rules forming part of corporate culture
CSR audits nature
CSR audits nature
Voluntary with no universal standards
Remuneration definition
Remuneration definition
Reward from work, provided as pay, wages or salary
National Minimum Wage purpose
National Minimum Wage purpose
Legal requirement to protect low-paid workers
Living Wage vs National Minimum Wage (2015)
Living Wage vs National Minimum Wage (2015)
£7.85 vs £6.70 per hour for adults
Trade-off definition
Trade-off definition
Selecting one choice results in losing another option