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Influences on Business - Coggle Diagram
Influences on Business
Ethical Considerations
Treatment of workers
Fair salary/ pay
Don't employ child labour
Don't overwork / too long hours
Safe working conditions
Don't discriminate
Treatment of suppliers
Avoid late payments
Pay fair prices
Treatment of customers and marketing decisions
Don't false advertise
price of product reflects quality
Avoid selling unsafe products or services
Sourcing of materials
Avoid buying from businesses that employ child labour
Avoid buying from unsustainable suppliers
Ethical businesses
Advantages
Workers who are treated right are more motivated
Worker retention increased
Reputation increases increasing sales
Investment may be higher - some investors only want to invest in ethical businesses
Disadvantages