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Why good environmental practices and ethical standards in decision making may be to the advantage of a business?
Wiki User
∙ 10y ago
Businesses with good environmental practices and ethical standards in decision making can have a real marketing and promotonal advantage. Consumers are becoming more aware of environmental issues and growing numbers of them ( customer ) will support businesses that adopt green policies. The success of the Body Shop worldwide has been built on producing products that do not harm animals in testing or the wider environment through production methods. Thus its success was due to its environmental practices. Companies that damage the environment such as through oil-tunker spills can lead to a boycott of their goods.
Businesses with low pollution production avoid very bad publicity and heavy fines.
Businesses with good environmental practices and ethical standards, attract potential customers, thus boosting sales and profits. With ethical standards they ( businesses ) make their employees want to stay reducing labour turnover as well as attacting high skilled workers, therefore increasing productivity. Attracts investors and keep the company's share price high, protecting business from takeover.
Unethical behaviour or lack of environmental practices, may damage a business's reputation and make it less appealing to stakeholders. Profits can fall as a result.
Wiki User
∙ 10y ago
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Why are good environmental practices good for business?
Good environmental practices are good for business because they give a feeling of community to both the business and its customers. These practices also support a healthy planet.
What is environmental trends?
Environmental Trends in Business. Companies around the world are realizing that not only are sustainable business practices popular.
What is the difference between standards and framework?
standards are the best practices and framework are the good practices : Good practices are normally practice that have significant control that will comply business need and normally hard to change. Best Practices are set of instructions that are need to be follow to comply any standard like ISO or other.
Write 5 paragraphs explaining how global economics business practices and media bias can affect the spending habit and budgeting practices of an individual?
Global economics, business practices, and media bias can affect the spending habit and budgeting practices of an individual because they are external environmental factors that affect spending habits.
On what issues may business become involved to protect and improve the welfare of society?
urban affairs, consumer affairs, environmental affairs, and employment practices
Ethical issues in international business?
Most Common Ethical Issues in international business includes:Employment practices , Human rights practices , Environmental regulations , Corruption and also Moral obligation of multinational firms
What are Environmental factors that affect a business?
how environmental factors affect in business
Why are business objectives important?
Business objectives is very important to a business because the business needs to create financial, operational, social and environmental goals to acheive. By setting objectives you know where the busines is heading and how its going to have a competitve advantage in the mass market.
Is it socially responsible for organizaions to join associations to influence the government?
Organizational practices may strongly influence the ethical standards of employees. Some organizations openly permit unethical business practices as long as they are in the firm's best interests.
What are some of the ways unethical business practices can affect a business?
Unethical business practices can cause a business to lose the respect of other business wanting to do business with said company.
Business education and training must promote environmental awareness do you asree or disagree?
Yes, business education must relate practices to real life experiences. This will help students retain information better and prepare them for their careers.
How does ozone effect business practices?
Ozone does affect business practices. As ozone is depleting, the business of CFC's is going down.
