Ethical Business Practices and Consequences

The video discusses business ethics, emphasizing the importance of going beyond legal requirements to act morally. It covers ethical treatment of employees, suppliers, and tax practices, highlighting examples like Google and Lush. The video also explores the debate on whether ethics come at the expense of profits, suggesting that ethical practices can enhance brand image and customer loyalty.

What is the primary focus of business ethics?

• Maximizing profits

• Following legal requirements

• Doing what is morally right

• Expanding market share

How can a business treat its employees ethically?

• By reducing their working hours

• By paying them the minimum wage

• By providing a safe workplace and fair wages

• By offering unpaid internships

Which company is known for its excellent employee benefits?

• Microsoft

• Apple

• Google

• Amazon

What does the fair-trade logo on a product indicate?

• The product is of high quality

• The product is made locally

• The grower was paid fairly

• The product is organic

Which company has an ethical buying policy that includes no child labor and no animal testing?

• Coca-Cola

• Nike

• Lush

• Unilever

Why is paying fair taxes considered an ethical business practice?

• It increases profits

• It avoids negative press coverage

• It reduces operational costs

• It is legally required

What was the consequence for Starbucks when they paid 0 corporation tax in the UK in 2011?

• Increased sales

• Public boycott

• Government subsidy

• New store openings

What is a common argument against ethical business practices?

• They are unnecessary

• They are unpopular

• They reduce profits

• They are illegal

How can ethical credentials benefit a business financially?

• By reducing employee wages

• By allowing premium pricing

• By cutting supplier costs

• By avoiding taxes

Why is it financially costly for businesses to act unethically in today's climate?

• Due to increased operational costs

• Due to exposure in the press and social media

• Due to higher taxes

• Due to reduced market competition