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Unit 37 Understanding Business Ethics P2
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P2 explain the implications for the business and stakeholders of a business operating ethically
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UNIT 37:UNDERSTANDING
BUSINESS ETHICS
, P2: explain the implications for
the business and stakeholders o
a business operating ethically
,INTRODUCTION
This assignment focuses on stakeholders and
how the different stakeholders within Body Shop
can be treated ethically by the organizations.
,Who are Stakeholders?
• These are people who have an interest in the company or organization’s aff
• Thereare many different types of stakeholders that can be found in differe
organizations. These include:
1. Customers
2. Suppliers
3. Financiers
4. Employees/Managers
5. Government
6. Pressure Groups
7. Local Community
8. Owners/Shareholders
,Shareholders
• Every business with in the UK has shares and these shares can be own
any individual or institution.
• Theseshares are like investments for pension funds or mortgage
endowments.
• If
the business is performing well, then the value of these shares will a
well and show that by increasing.
Body Shop can treat shareholders ethically by:
1. Ensuring that all shareholders are treated equally
despite if one organization/individual has more power than
the others.
2. Ensure that everyone is heard when decisions are being
made by the organization.
, Employees
• These are individuals who provide services for an
organization in the form of labour.
• They help in the daily running's of the business by
performing various tasks and responsibilities that help the
business to grow.
Body Shop can treat their employees ethically by:
1. Ensuring that all employees are paid equally (despite age or gender).
2. Ensuring that employees have working conditions that are comfortable, saf
and secure.
3. Ensuring that employees are not overworked. However, if they do work
overtime, receive an appropriate extra pay.
4. Ensure that all employees have a contract that suits them and their
everyday life.
5. Giving employees benefits and incentives to keep them motivated.
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