Business Ethics project Assignment
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Added on 2021-02-20
Business Ethics project Assignment
Added on 2021-02-20
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BUSINESS ETHICSPROJECT
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11 . Examine the key challenges related to corporate responsibility and sustainability ..............12 . Analyse and explain what you consider to be ' best practise' within clothing sector, makereferences to ethical and moral issues.........................................................................................43 . Recommendations for clothing sector....................................................................................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONBusiness ethics is the study of practices and policies of business related to those subjectswhich can create controversy. These study consider subjects like insider trading, corporategovernance, discrimination, bribery, fiduciary responsibility and corporate social responsibility(CSR). The business ethics are guided by the laws, but business ethics also helps the company togain the attention of the public and get their approval. Government and Organisation have guideall the industries to follow the guidelines which are provide to them regarding business ethics tosuccessfully practice their business activities. Clothing industry is among those sector whichpollute the earth most. The clothing and fashion industries were well known for not followingbusiness ethics and for exploitation of employees. The company from these industries are oftenin controversies like Human right violations, forced and trafficked labours skilled labourexploitation, sustainability and many more. These report will discuss about the key challengesrelated to corporate responsibility and sustainability as well as the report will also highlight aboutbest practise within clothing and fashion sector with references to ethical and moral issues of theenvironment. Lastly this file will highlight the recommendations about the policies and practicesthat clothing and fashion industries should adopt.MAIN BODY1 . Examine the key challenges related to corporate responsibility and sustainability Corporate social responsibility helps the companies to create a positive impact on thesociety, these increases the goodwill of the company. CSR consider of social and ethical impacts,sustainability, how the companies are generating revenue, core business activities and theirimpacts. The business of Europe are more focused on practising their business activities underSocially responsible way, practice is more sustainable because it reduces the waste material andpollution, it helps to improve the society. CSR is basically what business return back to society.The benefits of Corporate social Responsibility (CSR) are Satisfied Employees : The employees of the company feel proud to work in company which iscontributing towards the society as well as towards the environment. This will help the companyto decrease the employee turnover ratio as well as the company can easily attract more potentialcandidates for job(Devireddy, Mekala and Veeredhi, 2016).1
Satisfied Customers : If the company is holding strong record of corporate social responsibilityit is sure that that the company will attract more customer and will able to earn the loyalty of thecustomer for a long time.Cost reduction : CSR programs helps the companies to decrease the cost of the product becauseit helps to increasing the retention rate of the company as well as helps in more efficient hiring,the CSR having programs like energy saving programs, waste management and many more.Corporate social programs helps the company to reduce investment from traditional advertisingmethods The challenges faced by clothing industry are Human Rights :The Clothing industry is famous to violated the human rights of the employees. Humanright of the employee in related to the social, economical and environmental aspects of corporateactivities. For example the right to non-discrimination are in the social aspects of human rights.The company need to pay fair wages to the workers of company under labour right and cleandrinking water, clean wash roams are all under environment aspect of human right. Manycompany had violated(Kolk, 2016). Marks and Spencer was fined by the UK government forviolation of Human right. The company was not paying fair wages to their labours the companywas also finned for not violent the health and safety act. The company was fined 1 millionpounds for violating the health and safety act.Social Contribution :The clothing industry contribution to the society to increase their goodwill of thecompany, the companies mostly donate those cloths which are returned by the customers or thecloths which are not purchased by anyone for a long time, the companies also donates the clothswhich are having some design related defects. Marks and Spencer donate the the return cloths aswell as the cloths which have some defect in them to the handicap and disable people as well asto homeless people. The GAP company has burned their dead stock and revived a lot of heatfrom the people. The company had receive many hate mails on social media for burning thecloths instead of donating them to those who need them but can't afford it(Yoo and et.al., 2018). Forced and Trafficked labours :The labour problem in the clothing industry is grown beyond of overwork,underpayment, inappropriate working environment, The 50% of trafficked victims are sold and2
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