How does ethical behaviour contribute to the success of a business? (1 Viewer)

[jimmysmith560]

How do I answer this question? and where in the preliminary business studies syllabus can info be found.

This dot point can be found in the Preliminary topic Business Management as "ethical business behaviour".

Here's some information I can provide:

Businesses want to be regarded as responsible corporate citizens. Socially responsible businesses want to structure their production methods to fit in with increasingly strict environmental regulations. Such firms take their environmental responsibilities seriously in raw material usage, packaging, waste treatment and energy consumption.

Most businesses also want to engage in ethical business practices; to act honestly and morally. These businesses will honour commitments, not engage in misleading or deceptive product descriptions and will provide a safe working environment for their employees.

The fact that a business is committed to environmental responsibility as well as morally acceptable behaviour (such as accurate product descriptions and promotional strategies as well as ensuring WHS standards are consistently met) is perceived positively by the public, including consumers and this has positive effects on a business's performance.


I hope this helps

 

[queenb_3]

How do I answer this question? and where in the preliminary business studies syllabus can info be found.

You can talk about corporate social responsibility and in terms of success, you can link it to business reputation, competitive advantage, productive employees, motivated workplace etc. A very good case study you can use is Google who is well known for its CSR.

 

[jimmysmith560]

I haven't went up to this syllabus dotpoint yet but is there a way I could answer the question using info in the earlier parts of the syllabus

"ethical business behaviour" is one of the latter dot points in the Business Management topic, being preceded by a lot of other points which have little to do with ethical behaviour:




Ethical behaviour comes after all those.

 

[queenb_3]

if you talk about the environment and sustainability in this question would be considered correct?

Yes 100%, that's corporate responsibility.

 

[jimmysmith560]

Ahh okay I only went up to approaches

I believe the above information along with queenb_3's suggestions are sufficient for you to thoroughly answer that question.

 

[queenb_3]

Thank you so much!!!!!! @jimmysmith560 @queenb_3

No problem : )

 

[jimmysmith560]

Thank you so much!!!!!! @jimmysmith560 @queenb_3

All the best!

 

[queenb_3]

I thought for ethical behaviour it meant about being honest and following the regulations and rules. if I wrote that as my response would I be considered wrong

Honesty is part of ethics, yes, but rules and regulations are concerned with laws, so that's being lawful, and following all legal requirements. A business can still follow all the laws but be an unethical business and that's where CSR comes in- the additional measures a business implements that it doesn't have to do but rather still does to make it more stand out and be more successful. I hope this clears up any confusions. Feel free to clarify anything further if you still have any doubts!

 

[queenb_3]

Also, just to add on to that, ethics isn't part of laws because it's like a 'shade of grey'- it's what is considered morally right and wrong and this changes due to society and varies within organisations as well

 

[jimmysmith560]

You're in year 11 right?

 

[jimmysmith560]

yep

CSR is a year 12 concept and is included in the HSC syllabus. I don't think you should refer to it as CSR in your answer, but rather as ethical behaviour, while still including all the information that has been provided.

Just a minor detail I thought I'd mention

 

[queenb_3]

omg bless your soul I understand now. this question is like a mini extended but in the short answer section could you outline general structure to answer this question.

That's good!

So start with:
- Point: This point is like a mini thesis, and allows you to attack the question. In your point, define the concept in the question, such as what a business utilises to achieve success [in this case CSR; CSR which is ...... allows a business to be ethical which contributes to it's success].
- Next, explain with evidence. This is explaining your point, and supporting it with evidence. Your explanation should be succinct to the point, and it should answer the directive verb in the question (e.g if the question says how, then explain how ethical behaviour aids a business- business reputation, productive employees, motivated workplace etc). This step needs to be repeated as many times as required per the marks allocated for the question.
- The final step is to link. Conclude your response by using a link to tie up everything. Restate the question by answering the directive verb. (e.g, through CSR and Google, it is therefore explicit ethical behaviour aids a business in achieving business success).

Feel free to write up a response and send it to me (or post it here if you want), I can mark it for you!

 

[queenb_3]

CSR is a year 12 concept and is included in the HSC syllabus. I don't think you should refer to it as CSR in your answer, but rather as ethical behaviour, while still including all the information that has been provided.

Just a minor detail I thought I'd mention

Agreed, it's not mentioned as much in the prelim syllabus but it's still within it and you can get used to business terminology for practice

 

[queenb_3]

This is a really rough draft
In incorporating CSR, businesses are able to operate ethically and contribute to economic development while improving the quality of life of the workforce and the community as a whole which contributes to its success. As a socially responsible business, the business would want to adjust to the increasingly strict environmental regulations. Increasingly, society has established a greater concern for the environment. As a result, one has to be aware of the community needs, opinions and attitudes to provide a good reputation. For example, a business can incorporate ecologically sustainable practices such as recycling and alternative energies such as solar energy to demonstrate its ethical behaviour. Consequently, it reveals the business takes into consideration of values and beliefs of the community. Making the business have a competitive advantage over its competitors. Starbucks a barista business is known to implement corporate social responsible initiatives. In 1998, Starbucks was struggling financially resulting in the closure of multiple stores. In addressing this Starbucks launched a series of initiatives centred around people, the environment and the community. A notable initiative was the guarantee of the ethical production and purchasing of coffee tea and cocoa. By investing in its people and community Starbuck was able to exceed its prior revenue in 2013 and establish a positive image of the company. Through CSR, it is clear that ethical behaviour contrubutes to the success of a business.

How many marks is it out of?

 

[jimmysmith560]

I am not sure but my teacher said it will be in the exam as a "long" short answer

That would be around 5-6 marks then.

 

[queenb_3]

This is a really rough draft
In incorporating CSR, businesses are able to operate ethically and contribute to economic development while improving the quality of life of the workforce and the community as a whole which contributes to its success. As a socially responsible business, the business would want to adjust to the increasingly strict environmental regulations. Increasingly, society has established a greater concern for the environment. As a result, one has to be aware of the community needs, opinions and attitudes to provide a good reputation. For example, a business can incorporate ecologically sustainable practices such as recycling and alternative energies such as solar energy to demonstrate its ethical behaviour. Consequently, it reveals the business takes into consideration of values and beliefs of the community. Making the business have a competitive advantage over its competitors. Starbucks a barista business is known to implement corporate social responsible initiatives. In 1998, Starbucks was struggling financially resulting in the closure of multiple stores. In addressing this Starbucks launched a series of initiatives centred around people, the environment and the community. A notable initiative was the guarantee of the ethical production and purchasing of coffee tea and cocoa. By investing in its people and community Starbuck was able to exceed its prior revenue in 2013 and establish a positive image of the company. Through CSR, it is clear that ethical behaviour contrubutes to the success of a business.

Let's say it's worth 5 marks as @jimmysmith560 suggested.

[As a socially responsible business, the business would want to adjust to the increasingly strict environmental regulations. Increasingly, society has established a greater concern for the environment. As a result, one has to be aware of the community needs, opinions and attitudes to provide a good reputation]

[For example, a business can incorporate ecologically sustainable practices such as recycling and alternative energies such as solar energy to demonstrate its ethical behaviour. Consequently, it reveals the business takes into consideration of values and beliefs of the community, making the business have a competitive advantage over its competitors].

[Starbucks a barista business is known to implement corporate social responsible initiatives. In 1998, Starbucks was struggling financially resulting in the closure of multiple stores. In addressing this Starbucks launched a series of initiatives centred around people, the environment and the community.]

[A notable initiative was the guarantee of the ethical production and purchasing of coffee tea and cocoa. By investing in its people and community Starbuck was able to exceed its prior revenue in 2013 and establish a positive image of the company.]

Great thesis and link!

It's a good response overall, especially considering it's a rough draft, but I'd just advise you to refer to parts of the question specifically, such as 'ethical' and 'success'!

 

[queenb_3]

How could I specifically refer to the question I feel like I haven’t really answered the question to achieve full marks.

I would suggest more emphasis on the success of a business - so for example, implement it in like a 2 in 1; talk about how ethics gives a business success so like it allows for motivated employees which will in turn result in higher productivity and therefore an increase in profits. Also, you can talk about what makes a business ethical, and this can be the triple bottom line: so not focusing on profits as much increases the businesses value in the eyes of consumers e.g Aldi's reusable plastic bags

 

[jimmysmith560]

I feel like I want to add a topic sentence so it sounds like I’m answering the question but I’m not sure if it’s right to do so. I was thinking of defining ethical behaviour

You could go for it, although I don't feel it's necessary since the beginning of your answer gets straight to the point and the fact that your answer is around 300 words which when written is nearly a page long.