Ethical, Social and Enviromental Responsibilties in Business (LC 2026) (Leaving Cert Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Polluter pays principle
Polluter pays principle
More waste produced = higher disposal costs
Effect of environmental costs on profits
Effect of environmental costs on profits
Increased costs lower profits
Risk from damaging the environment
Risk from damaging the environment
Severe damage to business reputation
Consumer reaction to environmental damage
Consumer reaction to environmental damage
Boycotts and loss of customer trust
Volkswagen emissions scandal impact
Volkswagen emissions scandal impact
Reputational damage, distrust, loss of sales
Result of increased environmental regulation
Result of increased environmental regulation
Increased operational costs and potential fines
Impact of fair wages on socially responsible firms
Impact of fair wages on socially responsible firms
Increases overall wage bill
Cost of recyclable & non-polluting materials
Cost of recyclable & non-polluting materials
Increases manufacturing costs
Body Shop example of ethical sourcing
Body Shop example of ethical sourcing
Pays fair prices for ingredients, supports suppliers
Benefit of ethical practices on legal fees
Benefit of ethical practices on legal fees
Reduces risk of costly lawsuits