Responsibility to stakeholders A2 Economics and Business Unit 3. By Mrs Hilton for revisionstation. Examiner favourite subject which comes up often!. Lesson Objectives. To be able to discuss the ethical decisions a business may have to make before trading internationally
Responsibility to stakeholdersA2 Economics and Business Unit 3
By Mrs Hilton for revisionstation
Examiner favourite subject which comes up often!
Ethical corporate objectives
Safe waste disposal
Paying fair wage rates to employees in other countries
Sourcing sustainable raw materials
Moral principals that govern how a company does business. A moral principal is one that knows right from wrong.
Bitesize ethical behaviour video 5 mins
Labour – Panorama
Ethical Trade Initiative
Knowledge 1, Application 1, Analysis 2 per stakeholder group
Knowledge: 1 mark is available for identifying a stakeholder group, e.g. employees, suppliers, competitors, pressure groups, government, shareholders, local community/environment, consumers
Application: 1 mark is available for contextual answers e.g.
project will require local workers and suppliers in Patagonia/Chile,
flooding of pristine wilderness area in Patagonia
Analysis: up to 2 marks are available for identifying and
developing the consequences e.g. suppliers gain contracts increasing turnover and profitability, long term benefits for businesses from cheaper power supplies. Environmental damage may impact on tourism to area and reduce local incomes
General – if only one stakeholder group, cap at 4 marks