A well written, detailed assignment which meets the criteria for P1 - Unit 37 Understanding Business Ethics. BTEC Level 3 Extended Diploma in Business .P1 - Explain the ethical issues a business needs to consider in its operational activities
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Unit 37 - Understanding Business Ethics
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Business Ethics;Tesco
Conor Cunningham P1
You need to prepare a presentation slides with speaker notes which:
i) Defines what is meant by each of the following:- definitions of business ethics, ethical activities, values of businesses, profe ssional e
individual ethical behaviour
ii) Identifies and explains the ethical issues relevant to the company including all of the following (if applicable):- corporate governance
corporate social responsibility, environment, sustainability, human rights, corruption, trading fairly, legal and regulatory compliance,
business practices, working conditions, individual ethical responsibilities.
iii) Explains what the business is doing to show its stakeholders that it is aware of the ethical issues that apply. (You must i nclude im
of actual evidence)
(You must investigate the business mission statement, its corporate aims and objectives and values etc and describe how the busin
attempting to show that it is aware of the ethical concerns that apply)
This provides evidence for P1
,Operational activities; Definition of business ethics
Business Ethics means a business following and keeping up with
standards and laws so that no person, society or environment
suffers.
Business ethics ensure that a certain level of trust exists between
the business and its consumers, as well as all other stakeholders.
Tesco would need to ensure they adhere to standards and laws
so that they are applying ethical values to their business
behavior, which is how they carry out their daily operations in
order to achieve their aims and objectives. For example, to have
the highest customer satisfaction levels within the retail industry.
, Ethical Activities
Ethical activities are actions or activities that are considered morally good or morally correct. Th
are things that do nothing to harm others. Working ethically means acting in ways that are both
and honest.
A big business such as Tesco has a lot of power within its industry, which it can either use
responsibly or selfishly. Many firms operate to meet the needs of owners. Ethical firms, which T
is considered as, also carefully consider the implications of what they are doing and the effect i
might have on the community and the environment as well as its customers. It will have ethical
activities in place such as;
• Recycling waste
• Selling fair-trade products
• Paying above minimum wage to employees
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