Describe the social implications of business ethics facing...

Describe the social implications of business ethics facing a selected business in its different areas of activity. (P3 and M2) Social implications of business ethics The social implications often refer to those businesses that have an effect on society as a whole. They can relate to a number of areas of activity. I will now talk about the areas of activity. Areas of activity Ethics in finance In financial dealing and payments there are many kinds of unethical behaviour, however there are regulations and voluntary codes that try to make sure that ethical practises are monitored. There are many businesses these days in the financial sector, which offer loans to borrower. These loans are expensive to repay, which results in even worse†¦show more content†¦There are many examples, for instance animal testing, around the world animals are being used to help in the development of new products ranging from shampoo to new cancer drugs. There is a new British law that requires that any new drug must be tested on at least two different species of live mammal. One must be a large non- rodent. There is The Animals Act 1986 insists that no animal experiments should be conducted if there is a realistic alternative. Before some medical treatment was tested in humans, but now that has stopped and it is not being tested on animals. Animals were used to develop anaesthetics to prevent human pain and suffering during surgery. The main ethical question which is being asked, is the value of human life in relation to animals the same. There are also question about the extent to which animals suffer during these test. Ethics in sales and marketing There are various way a business can employ unethical means to try and generate sales. There are three main ways and they are: 1. Spamming: spamming refers to sending emails to thousands of users similar to a chain letter. It is possible to have some email systems which have the ability to block incoming mail from a specific address, but because these individuals regularly change their email address it is difficult to prevent some spam from reaching an email box. 2. Spoofing: When an email appears to have been originated from oneShow MoreRelatedExplain the ethical issues a business needs to consider in its operational activities689 Words   |  3 Pagesissues a business needs to consider in its operational activities. P2 Explain the implications for the business and stakeholders of a business operating ethically. P3 Describe the social implications of business ethics facing a selected business in its different areas of activity P4 Examine the ethical concerns of the communities in which a selected business operated M1 Assess how a selected business could improve the ethics of their operations M2 Assess the social implications of businessRead MoreBusiness Ethics Essay944 Words   |  4 PagesUnderstanding Business Ethics Unit 37: National Diploma Assignment brief TASK 1: Scenario: Business ethics - a study of a selected company With growing interest among consumers regarding the business ethics of the businesses brands that consumers buy, Westminster council wants to conduct an independent review of some of the organisations that sell their goods and services in the borough. You have been asked to select one of the following brands and conduct research into their business ethics. Read MoreSocial Implications Of Business Ethics1601 Words   |  7 PagesUnit 37 – Assignment 3 Social implications of business ethics Introduction In this assignment I have been asked to describe the social implications of business ethics facing a selected business in its different areas of activity. I have then been asked to assess these social implications of business ethics. The business organisation I have chosen for this assignment is ‘Boots’. Social implications (P3) Social implication is a term used to describe the actions of a business that will have an impactRead MoreMerger and Acquisition: Current Issues115629 Words   |  463 Pagesa handful of anonymous referees who assisted in the selection of articles for this book. GNG KLN xi This page intentionally left blank Notes on the Contributors The Editors Greg N. Gregoriou is Professor of Finance in the School of Business and Economics at State University of New York (Plattsburgh), USA. He obtained his joint PhD in Finance from the University of Quebec at Montreal, which pools the resources, with Montreal’s three major universities (McGill University, Concordia University