Please enable JavaScript.

Coggle requires JavaScript to display documents.

business ethics - Coggle Diagram

- - - - capitalism has had a negative impact on the environment. it reduces the way we think about he planet as humans became more concerned with a collection of natural resources to be maximised and acquired
      - capitalism encourages individuals (and businesses) to pursue wealth and become greedy. they may act irresponsibly with regards to the environment ior ethics in the pursuit of gain
    - - consumerism encourages a wasteful approach to the products we make. many products become dispose and peo[e do not keep products I the long term as there are so many technological advances
    - - capitalism allows people to choose what to consume and this choice leads to more competition & better products and services
      - consumerism give individuals the power to make choices between a range of brands and acquire a wider ranges of products - ones that help them live a lifestyle that as only possible for the very wealthy decades ago. this is in turn, drives the economy - this drive has been behind many technological developments
- - - - tax avoidance within a business
      - environmental issues that the company wishes to hide
      - cheating on tests or exams
      - discrimination or bias in recruitment or promotion procedures
    - - in most cases in the UK, whistle-blowers are protected by the law: The Public Interest Disclosure Act (1998)
  - - - eg investing in staff wellbeingactivities such as yoga, sponsoring a youth football team, donating prizes for a charity draw, aiming to recycle more of the water
      - eg: UK during COVID-19
        
        when the pandemic took hold in the UK in 2020, many businesses had to furlough their employees; the government offered to pay 80% of the costs of furloughing
        
        some business if they could afford to, went further and topped up their employees' salaries up to the full 100% to aid them
        
        although other businesses could not afford to top up their employees salaries and not require taxpayers' money for the furloughing, still claimed and did not top up their employees' salaries
    - - is anyone with an interest in the organisation
      - businesses take on social responsibilities because they think these will improve their image with customers or with a certain type of employee
    - - there are many thousands of investors who only want too put their money into 'ethical' businesses
        
        eg the UN has set up voluntary principles for ethically-responsible investment. as of 2014 investors had put more than $34 trillion into funds committed to these principles
  - - - was an American economist whose idea of monetarism with its decrease government rules and regulations for