Preparation task. Pre-listening

Put the words and phrases that you would expect hear in a lecture about Business Ethics in the “Yes” column. Put the other words and phrases into the “No” column.

Responsibility, sweat shops, fair price, bonuses, maximise consumption, equal opportunities, inclusive, corporate greed, lower turnover, economic crisis

Yes
No

Listen to the audio.

(If you need help, you can read the transcript at any time).

Transcript

Today I’m going to talk about business and ethics. First I’ll look at what is meant by business ethics. Then I’ll examine the kind of ethical considerations companies need to address, how they can go about doing business in a more ethical way, and look at some examples of ethical business practices.

So what are business ethics and why are they seen as important in today’s business climate? Business ethics relate to how a company conducts its business in order to make a profit. Although the primary goal of the company may be to make money, it also recognises that it has a responsibility towards the society in which it operates. The term ‘corporate social responsibility’ is often used, and nowadays many companies have strong corporate social responsibility programmes designed to help create a prosperous, inclusive society.

Now I’ll look at some basic ethical considerations that a company needs to address. The first area is how the company treats its employees. All employees should be treated fairly and with respect. A company that cares for its workers’ welfare will tend to have a happier workforce and a lower turnover of staff. It is also important that workers are recruited on a basis of equal opportunity.

The second area is how a company conducts its day-to-day business. In a manufacturing business, this includes how suppliers of raw materials are chosen and treated. A good example of this is the Fair Trade movement. This initiative ensures that small-scale farmers are paid directly and at a fair price for their crops. A company should also look at its policy on paying suppliers, and ensure that payments are made on time.

Another ethical consideration is the impact the business has on the environment. Manufacturing companies should strive to ensure that production is clean and careful, and look for ways to minimise energy consumption and waste products.

Finally, a company can also decide to give something back to the community it operates in. This can be in the form of ‘corporate giving’ programmes, where donations are given to community projects, or by initiating schemes to improve the local community and encouraging employees to work on these schemes.

Task 1.General understanding.

Write down the order in which the topics below are first mentioned.

Topics	Order
a. How a manufacturing business chooses suppliers
b. How business cares for the environment
c. How a company can help the local community
d. The responsibility a company has towards society
e. How a company treats its employees

Task 2. Detailed understanding.

Listen to the lecture again and complete the student's notes. Type one word in each gap.

1. Business and ethics relate to how company conducts its business to make a ________.

2. Corporate social _________ programmes help create prosperous inclusive _________.

3. Employees should be treated _______ and with respect.

4. Recruitment on basis of ___________ opportunity.

5. ___________ businesses should choose suppliers carefully.

6. Companies should pay suppliers on _________.

7. Companies should minimise _________ consumption and waste products

8. Can give_________ to community projects.

 

Task 3.Vocabulary.

Match the words and expressions from the text with the definitions below.

1. equal opportunities

2. welfare

3. ethics

4. corporate giving

5. Fair Trade

6. corporate social responsibility

 

Definitions

a. recognising duties and obligations towards society

b. principles or rules of conduct accepted by society

c. physical and mental health and happiness

d. helping small –scale producers by paying a fair price for commodities

e. treating people equally regardless of gender, age, marital status, sexual orientation, disability, race or religion

f. donations from companies to local communities

 

Началоформы

Конецформы

https://learnenglish.britishcouncil.org/sites/podcasts/files/LearnEnglish-ProfessionalsPodcasts-BusinessAndEthics.pdf

Text

Business ethics are moral principles that guide the way a business behaves. The same principles thatdetermine an individual’s actions also apply to business.Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right”choice. It is relatively easy to identify unethical business practices. For example, companies should not usechild labour. They should not unlawfully use copyrighted materials and processes. They should not engagein bribery.

However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. Acompany must make a competitive return for its shareholders and treat its employees fairly. A companyalso has wider responsibilities. It should minimise any harm to the environment and work in ways that donot damage the communities in which it operates. This is known as corporate social responsibility.

Businesses have great potential to transform people's lives and to alleviate poverty through generatingeconomic growth. They produce goods and services that customers want and they create jobs. Throughpaying taxes, they contribute to government revenue that can finance schools, hospitals and other publicservices.

However, a business must keep in tune with the wishes of the societies it serves or it runs the risk ofalienating its shareholders, stakeholders and customers.

Question: Why should a business act ethically?