|




 



Y 

Y Y
   

 


 




|

Any individual or organisation that is affected by activities of a
business

Y Y
  


Y 

 

|




 
|hareholders of the company
Other owners ± e.g. sole trader / partners in a partnership
Management and employees (who may also be shareholders)
Customers and |uppliers
Banks and other organisations lending company money
Government (particularly Inland Revenue)
Trade Unions
Pressure Groups

Y Y
  


Y 

 
 


|





|

|hareholders
Ô Hold shares in company ± i.e. they own part of it
Ô Investors in the company
Ô |hare in the profits and losses of the company
Ô Control the decisions of the company
|takeholders
Ô Have an ³interest´ in the activities of a business
Ô Do not own or control a business

Y Y
  


Y 

  
 
    
A business is expected to achieve its objectives, usually to
make a decent profit for the owners/shareholders
In doing so, it may need to overlook the wishes of others.
For example, it could lie about the benefits of its products in
order to get more revenue. It could skip important safety
checks to save costs. What should the business do?
Increasingly, business are being encouraged to act ³ethically´
The word µethics¶ means standards of right and wrong
behaviour
Business ethics can be defined as the principles and
standards that determine acceptable conduct in business

Y Y
  


Y 

 |

 !  "
Increasingly, businesses are encouraged to think about their
responsibilities
What is social responsibility?
|ocial responsibility is a concept
It is about ensuring that businesses are actively concerned
with the welfare of society at large, e.g. looking after«
Ô Duties and obligations of a business to other stakeholders
Ô E.g. customers, employees, shareholders, local community

Y Y
  


Y 

  
 




 


"
#!
Reduce pollution by using non-fossil fuels
Disposal of waste safely and in an environmentally friendly
manner
|ponsoring local charity events
Trading fairly with developing countries

Y Y
  


Y