External Factors – outside of the control of the business AS90844 Demonstrate understanding of how a large business responds to external factors External Factors – outside of the control of the business

Ethical Influences on Business All: Understand what is meant by business ethics Most: Explain the pressures that businesses face to behave ethically Some: Analyse how business actions may be viewed as ethical or unethical

Ethics The way of doing things correctly – showing morally correct & appropriate business practices in the minds of its stakeholders Do the right thing Difficult – subjective Ethical codes come from underlying opinions and principles of society

Ethics and CSR Ethics is the external pressure on business CSR is a response by businesses to act ‘ethically’

Examples of Ethical / Unethical Practices A NZ business does business with suppliers that knowingly use child labour A pharmaceutical company prices a cure for a tropical disease in a poor country at a level unobtainable for the local population. A tobacco company chooses not to advertise at sporting events where young people will be present