Environmental and ethical issues
10 flashcards to master Environmental and ethical issues
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Define 'sustainability' in the context of business.
Sustainability refers to meeting the needs of the present without compromising the ability of future generations to meet their own needs.
Explain the term 'carbon footprint'.
A carbon footprint is the total amount of greenhouse gases generated by our actions. Businesses can reduce their footprint by using renewable energy sources or implementing energy-efficient practices.
What are two benefits of recycling to a business?
Recycling can reduce waste disposal costs and improve a business's public image.
Describe one method of effective waste management.
Effective waste management includes reducing waste at the source through efficient production processes, reusing materials where possible, and implementing robust recycling programs. This minimizes landfill waste and resource consumption.
Define 'ethics' in business.
Ethics in business involves adhering to moral principles and values in business decisions and actions. An example of ethical behavior is paying fair wages to employees, even if not legally required.
What is 'Corporate Social Responsibility' (CSR)?
CSR is a business's commitment to operating in an ethical and sustainable manner, considering its impact on society and the environment. It often includes activities like charitable donations and community involvement.
Explain one advantage of a business acting ethically.
Acting ethically can improve a business's reputation and brand image, leading to increased customer loyalty and sales.
What is 'Fair Trade'?
Fair trade is a trading partnership that promotes equity in international trade. It ensures that producers in developing countries receive fair prices for their goods, helping them to improve their living standards and invest in their communities.
Explain how pressure groups can impact a business.
Pressure groups can influence a business by lobbying for changes in business practices, organizing boycotts, and raising public awareness of ethical or environmental issues. This can impact sales and brand reputation.
Define the term 'sustainable development'.
Sustainable development aims to meet current human needs without compromising the ability of future generations to meet their own needs. It focuses on environmental protection, social equity, and economic growth.
Key Questions: Environmental and ethical issues
Define 'sustainability' in the context of business.
Sustainability refers to meeting the needs of the present without compromising the ability of future generations to meet their own needs.
Explain the term 'carbon footprint'.
A carbon footprint is the total amount of greenhouse gases generated by our actions. Businesses can reduce their footprint by using renewable energy sources or implementing energy-efficient practices.
Define 'ethics' in business.
Ethics in business involves adhering to moral principles and values in business decisions and actions. An example of ethical behavior is paying fair wages to employees, even if not legally required.
What is 'Corporate Social Responsibility' (CSR)?
CSR is a business's commitment to operating in an ethical and sustainable manner, considering its impact on society and the environment. It often includes activities like charitable donations and community involvement.
What is 'Fair Trade'?
Fair trade is a trading partnership that promotes equity in international trade. It ensures that producers in developing countries receive fair prices for their goods, helping them to improve their living standards and invest in their communities.
About Environmental and ethical issues (6.2)
These 10 flashcards cover everything you need to know about Environmental and ethical issues for your Cambridge IGCSE Business Studies (0450) exam. Each card is designed based on the official syllabus requirements.
What You'll Learn
- 6 Definitions - Key terms and their precise meanings that examiners expect
- 4 Key Concepts - Core ideas and principles from the 0450 syllabus
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After mastering Environmental and ethical issues, explore these related topics:
- 6.1 Government economic objectives and policies - 10 flashcards
- 6.3 Business and the international economy - 10 flashcards
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