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Sustainable Management Futures Assignment

   

Added on  2021-05-31

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Running head: SUSTAINABLE MANAGEMENT FUTURES ASSIGNMENTSustainable Management Futures AssignmentName of StudentName of UniversityAuthor Note
Sustainable Management Futures Assignment_1

1SUSTAINABLE MANAGEMENT FUTURES ASSIGNMENTTable of ContentsIntroduction................................................................................................................................2Theoretical/Conceptual approaches...........................................................................................3UtilitarianismEthical Approach.............................................................................................3Virtue Theory.........................................................................................................................4Analysis......................................................................................................................................4Discussion and Conclusion........................................................................................................8Reference..................................................................................................................................12
Sustainable Management Futures Assignment_2

2SUSTAINABLE MANAGEMENT FUTURES ASSIGNMENTIntroductionThe retailers engaged in fashion and clothing industry have some ethical responsibilities forensuring the fact that they provide the employees as well as stakeholders of the companieswith certain benefits. The retailers are required to comply with the ethical standards forensuring the welfare of employees as well as their families. Ethics is the branch of philosophythat objectifies the moral values of individuals. It helps in assessing or analyzing whether theindividuals’ actions are morally and ethically right or wrong. Taking the case of retail sectorinto consideration, it can be said that the fashion and clothing industry holds significant rolein the overall economy of the world (Goworek and McGoldrick 2015). It is important for the fashion and clothing industry to comply with the ethicalstandards in order to have significant impact on their stakeholders. The purpose of this reportis to evaluate the business ethics of the fashion and retail industry by utilizing two contrastingconceptual or theoretical approaches. It is however, important to identify how the ethicalstandards of the retail industry have currently impacted the workers, working in the factories.Not only the workers, but also the parties those are engaged in the overall services ofproduction and final consumptions get highly impacted by the industry. The report will discuss the ethical standards of the fashion and retail industry as theretailers have ethical responsibilities towards its workers. The focus is on GAP Inc, a clothingstore headquartered in America. It is seen that the retailers often indulge into some unethicalpractices for acquiring or generating higher profitability. In this entire process, they startmisleading their target consumers by charging higher prices and conceal the truth regardingproduct quality, from them. It is immensely important for them to stop such ill-practices andcharge fair prices from the target consumers. Retailers need to formulate certain strategies or
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3SUSTAINABLE MANAGEMENT FUTURES ASSIGNMENTpolicies in order to ensure fair selection, training and recruitment of the employees (Lueg,Pedersen and Clemmensen 2015).Theoretical/Conceptual approachesUtilitarianismEthical ApproachUtilitarianismEthical Approach states that the best action always maximizes theutility. According to Valentinov (2017), in utilitarianismtheory, the best action is alwaysassociated with the wellbeing of the people. Moreover, the best action definitely maximizesthe pleasure and minimizes the pain level of the people. Hence, this theory can be effectivelyapplied in justifying the ethical perspectives of Gap clothing retail. This theory will analyzewhether the business actions of Gap is ultimately maximizing the pleasure of the stakeholdersor not. On the other hand, Stankiewicz and Łychmus (2016) opined that being the version ofconsequentialism, utilitarianism approach measures the standard of an action based on onlythe rightness and wrongness of the action. Hence, this theory is relevant to assess standard thechild labor business policy of Gap. While applying the theory on Gap’s business process, itcan be seen that the organization is abusing the children of India unethically by hiring the aslabor. Moreover, such action is actually reducing the well-being of children in India. Hence,as per Utilitarianismapproach Gap is facing high level of ethical issues through maximizingpain for the children.One of the major limitations of Utilitarianismethical approach is that it is extremelydifficult to predict the certainty of a consequence in future. Hence, this approach cannot beapplied on assessing the actions, whose consequences are not known beforehand. On theother hand, Utilitarianismethical approach does not depict enough support for the rights ofindividuals (Valentinov 2017). Moreover, the proponents of ethical rights are quite unclear inthis ethical approach.
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