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Social Implications of business ethics

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Keren Morley

on 6 November 2012

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Transcript of Social Implications of business ethics

Social Implications of Business Ethics Executive Pay Ethics in Finance Bribery Social implications refer to those actions of business that have an efect on society as a whole. Consider these ethical issues and describe how they affect society as a whole. Relate to specific business examples The average debt of the typical family is so high that about a quarter of families cannot afford to repay. Businesses in the financial secptr that offer loans which are expensive to repay are increasingly subject to scrutiny.

Inaccurate financial advice (PPI) has led to Financial advice Services being increasingly reglated. the use of finacial muscle to gain unfair advantage over others. Bribery is a form of corruption.

e.g. Attempting to gain planning permission by giving money to a planning official or councillor A key problem is excessive pay for top executives. This will also include perks and pensions Areas of Activity Insider Trading Insider trading refers to the illegal use of priviledged information in dealing on a stock exchange. e.g. when a company take over bid is imminent, shares are bought rapidly and then sold for a big profit Lobbying Lobbying politicians can be a source of corruption. To Lobby means to approach an MP or minister with requests for actions or information. The intention is to persuade politicians to adopt a couse or issue in order to benefit it. The affect of Social implicaitons
Activity http://www.bbc.co.uk/go/em/fr/-/news/business-12682395 >
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