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Definitions
Fairtrade
A trading partnership seeking equity through dialogue, transparency, and respect.
Accountability
Being responsible for one's actions and ready to explain them if required
Fraudulent
Methods or actions intend to deceive people, often in order to gain money illegally
Sustainbility
Quality of being strong enough to continue existing or happening for a long time
Whistle blow
Someone who informs the public that the company they work for has engaged in illegal practices
Supply chain
People or organization who move products from manufacturers to the public.
Skateholders
Leaders of an organization or society who benefit from it.
Nepotism
Practice of giving jobs to members of your family when you are in a position of power
Wrong doing
Illegal or immoral behaviour
Definition of Business Ethics
Set of moral principles guiding business decisions and behavior. Focuses on balancing profit with ethical values like honesty, transparency, and social responsibility.
Ethical Issues
Common dilemmas businesses face, such as fair treatment of employees, responsible sourcing, environmental impact, and avoiding fraud or exploitation.
The Environment
Companies should operate sustainably, reduce pollution, manage waste, and lower carbon emissions. Ethical businesses aim to protect the environment and adopt green practices.
Animal Rights
Concern for humane treatment of animals in industries like food, cosmetics, and fashion. Ethical businesses move towards cruelty-free practices and alternatives to animal testing.
Workers in Developing Countries
Businesses outsourcing to developing countries should ensure fair wages, safe working conditions, and avoid exploitation or child labor.
Corruption
Corruption involves bribery, fraud, and misuse of power. Ethical companies implement anti-corruption policies and encourage transparency.
New Technologies
New technologies like AI raise ethical concerns over privacy, job displacement, and data security. Companies must protect individual rights and use technology responsibly.
Product Availability
Businesses should ensure fair access to essential products like medicine and food, avoiding price hikes or restricted access during crises.
Trading Issues
Focus on fair trade, ensuring fair pay for producers and reducing exploitation in supply chains. Ethical trading promotes transparency and equity in global commerce.