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Business Chapter 28: Environmental and Ethical Issues - Coggle Diagram
Business Chapter 28: Environmental and Ethical Issues
how business activity can impact environment
aircraft jet engine emissions damages atmosphere
pollution from factory chimneys reduces air quality
waste disposal can pollute rivers and seas
transport of goods burns fossil fuels, creating carbon emissions (global warming and climate change)
sustainable development
use renewable energy
recycle wastes
use fewer resources
develop new environmentally friendly products and production methods
how and why business might respond to environmental pressures and opportunities
consumers
consumers can stop buying products
pressure groups
can take effective actions against businesses that are not socially responsible
government, through legal controls
can make business activities illegal
locating in environmentally sensitive areas
dumping waste products into rivers or seas
making products that cannot easily be recycled
can impose financial penalties on businesses, pollution permits
ethical issues business might face
should businesses ever:
take or offer bribes from people to gain information
employ child workers
buy supplies that have led to damage to environment
agree to fix high prices with competitiors
pay large bonuses to directors and large profit
payouts to owners while reducing workforce
possible reactions and responds
benefits
good publicity
increase sales to our business
long-term profits
easier to recruit best workers and raise capital from investors
less risk of legal action taken
limitations
higher costs
might have to be set higher prices
sales could fall if customers are only interested in low prices
short-term profits might fall
incomes could fall