Global Entrepreneurship | Assignment

Running head: GLOBAL ENTREPRENEURSHIP
Global Entrepreneurship
Name of the Student
Name of the University
Authors Note

1GLOBAL ENTREPRENEURSHIP
Answer-
Part- A
1) There exist a range of terms which are generally used when people talk about a company
and its obligations towards the society. These terms include corporate social
responsibility, business and human rights, responsible business conduct, and
sustainability. RBC helps the Canadian companies to run business internationally in a
social, economic and environmentally justifiable manner. The respect for human rights
are also demonstrated by RBC by using appropriate laws and global standards.
Shared value is created when a company operates its business in an environmentally,
financially, and socially accountable manner with transparency. As the advantage of
international opportunities have been taken by Canadian firms, therefore it is important to
understand RBC because it makes a good sense of business (Morali & Searcy, 2013).
2) In promoting responsible business practices, the Canadian government plays an active
role. It influences and helps various Canadian companies working worldwide by
respecting human rights and all valid laws for meeting global RBC rules and standards. It
also helps the Canadian companies to perform their functions in an environmentally,
financially, and socially accountable manner with transparency and this expectation is
applicable to all Canadian companies irrespective of its size and sector (Mahoney &
Thorne, 2005).
3) In order to prohibit corruption and bribery while business internationally, the Corruption
of Foreign Public Officials Act (CFPOA), 1999 was enacted. According to this Act,
bribing a foreign public officer while business internationally is considered to be criminal
offence and both organizations and individuals can be prosecuted under this Act for
committing such an offense inside and outside of Canada.
4) Johnson & Johnson is an example of a Canadian Company engaging in RBC in the sector
of Fast Moving Consumer goods.

2GLOBAL ENTREPRENEURSHIP
Answer-
Part- B
1) Nowadays, fast fashion is considered to be a vital contributor in the waste problem of
clothing all over the world. Many people provide their old clothes either to various
charitable institutions or drop those old dresses in a take-back container of a store.
However, the tragedy is that many of them has been sold or end up in the landfill. Some
economists of Canada are of the view that as fashion industry is loved by every
individual therefore presently it is sitting at a market value of approximately four trillion
dollars. However, behind this truth different ugly truths are hidden and it is also very
complicated to understand the fast fashion industry. Not only that, farmland,
environmental resources are misused by this industry. This industry is also responsible
for labour exploitation (Joy et al., 2012).
2) Improvement of technology has a great importance in the fashion industry. As the
technology develops day by day, therefore new designs, materials and textiles are also
innovated in this industry. These innovations are responsible for changing the behaviors
of the customers in past years. The major change of behavior is observed among the
women of Canada within the age group of 25-40. The women of this particular age group
bought a dress and wore that for two to three times because new designs and textiles
attract them to reject that dress as being updated with new fashion styles is very
important.
The major drivers responsible for changing the customer behaviors are:
 Quality- It is considered to be the main concern of the customers;
 Price- Customers are influenced by this factor easily. Fast fashion enterprises are
taking the advantage of this factor.
 Availability- Scarcity of demand is another factor which influences the
purchasing behavior of the customer.
Apart from these factors, social influence, cognition and emotion are other factors
which changes the purchasing behaviors of the customers (Brooks, 2019).
3) In the fast fashion of Canada, the following ethical issues are observed, such as:

3GLOBAL ENTREPRENEURSHIP
 Child labour: In order to maximize the production of new clothes from old ones,
many enterprises employ children from Second and Third World.
 Low wages: In order to reduce the alteration cost, numerous enterprises provide
low wages to its customers.
Apart from that unsafe working environment, misuse of natural resources are also
involved in this industry (Leslie, Brail & Hunt, 2014).
4) a) Retail Sectors are those sectors which provide goods to its consumers in a very small
amount. Wal-Mart Stores Inc. is a very famous retail sector in Canada by which the key
principles are appropriately followed. The below-mentioned three CSR principles are
followed by the Wal-Mart, such as:
 Forming financial opportunities for their workers, suppliers and individuals who
work in retail and retail supply chains beyond Wal-Mart;
 Improving the feasibility of procedures and product supply chains for publics and
the world;
 Constructing strong groups where the retailer store functions.
b) An example of a Canadian retailer that has employed the principles of CSR in their
business practice is Wal-Mart Stores Inc.

4GLOBAL ENTREPRENEURSHIP
References
Brooks, A. (2019). Clothing poverty: The hidden world of fast fashion and second-hand clothes.
Zed Books Ltd..
Joy, A., Sherry Jr, J. F., Venkatesh, A., Wang, J., & Chan, R. (2012). Fast fashion, sustainability,
and the ethical appeal of luxury brands. Fashion theory, 16(3), 273-295.
Leslie, D., Brail, S., & Hunt, M. (2014). Crafting an Antidote to Fast Fashion: The Case of T
oronto's Independent Fashion Design Sector. Growth and Change, 45(2), 222-239.
Mahoney, L. S., & Thorne, L. (2005). Corporate social responsibility and long-term
compensation: Evidence from Canada. Journal of Business Ethics, 57(3), 241-253.
Morali, O., & Searcy, C. (2013). A review of sustainable supply chain management practices in
Canada. Journal of business ethics, 117(3), 635-658.