Ethical And Social Treasions Of Business Practices In The Fashion Industry

The author Robert Solomon argues that ethics has to an integral part with regard to business management. He does not believe that business management must include unethical or illegal methods to be able to succeed. Solomon preaches that business management is not as simple as obtaining revenue. “Businesses need to abide by fair policies and their owners have to be ethical in dealing with their customers” (Shaw p. 37). The author acknowledges that while illegal practices in business management could bring positive results at first, eventually the business is bound to fail. This is why Solomon recommended eight important policies that can help businesses in integrating ethics into their operations.

The Cheesecake Factory has been one of the more successful chain restaurants in recent years because they have provided great food and outstanding customer service in a fun atmosphere. The cheesecake factory employs a high standard of general conduct and moral aptitude. As a chief executive officer in today’s society, it is my responsibility to ensure The Cheesecake Factory abides by the laws and ethical duties that are mandated by today’s society. There is a copious amount of benefits to being a chief executive officer, however there is an equal amount of risk as chief executive officers are held liable for almost any action or infraction that their company has induced.

As many things in life, ethics has evolved through the history of our society. As anyone who has ever has read the news can attest, there are certain behaviors and tradition typical in societies around the world that may seem unethical and, sometimes, inhuman when seen through our ethical point of view. However, we often forget that many of those behaviors and tradition were, not only accepted, but expected in our society at one time. As our society changes over time, our moral code and compass shifts changing our outlook and tolerance for certain behaviors. And, as in other aspects of our society, the way we conduct business is no different.

This assignment is going to mainly discuss the existing of sweatshops and the related ethical issues about it. Ethical theory will be applied in the study about the topic and personal reflection is also going to displayed in the assignment. An understanding of it may be not interesting but can be helpful to do research or run firms or organizations related in the future.

This paper will obtain information about a researched issue that deals with business ethics. The paper will include a summary of the Article and issue. This paper will also touch on the following topics, what seems to be the basis of the issue, what ethical change, deficiency, or conflict brought it about, and how did the organizational leadership come into play. The paper will conclude by proposing a plan for revising the ethical standards and

A great example of a ethical decision Macy’s has made is initiating The Company’s Compliance and Ethics program to promote ethical conduct and guarantee compliance with Company policies and applicable laws. To ensure the company is making moral decisions, The Company’s Compliance and Ethics program consists of “(i) the Compliance and Ethics Executive Committee, whose members are the Company’s Chief Legal Officer, Controller, VP of Internal Audit and Chief Compliance and Ethics Executive, and (ii) the Office of Compliance and Ethics, which is managed by the Chief Compliance and Ethics Executive who reports to the Chief Legal Officer. Macy’s strives to have a core value of their business, which is“Integrity Always”. According to Macy’s online

Every year in the United States there are many business’s that shut down due to unethical practice. There are many people who run a small business or even a multimillion business that don’t know exactly what ethics are. Ethics are rules which I will go into detail later. There are many reasons why we should follow those rules, how it effects the reputation of the company, what are the outcomes of ethical actions, and what are the outcomes of unethical actions.

In the UK, H&M’s, the other major fast fashion major brand, average selling price of women’s clothes are £10.69, whereas at Primark, the average selling price was £3.87. Further, in terms of the annual average sales of clothes per square meter, H&M sells £3,400 per square metre, while Primark sells £5,300. These clearly point to a more optimised strategy (The Economist 2015).

Mark Anner, Associate Professor of Labor and Employment Relations at the Pennsylvania State University, has written perhaps the most persuasive piece of literature on the reasons for the lack of progress in workers’ rights for employees of independent contractors hired in the process of an American corporation outsourcing to another nation. Before the Rana Plaza Factory Fire in 2012 and currently still, most of the CSR models focused on voluntary codes of conduct which allowed corporations to adopt for publicity purposes, yet not fulfill the responsibilities of those agreements, without facing any consequences. These programs of CSR are extremely unsuccessful, as most factories and independent contractors cut corners to pass inspections

Conducting ethical business in the United States can be seen as clear cut to us. Although we are a diverse nation, as U.S. citizens, most gain experience in the professional environment where ethics is explained thoroughly enough that one is able to determine what is ethical and what is unethical. When it comes to ethics in the international arena, Thomas Donaldson explained how that structure almost does not exist since ethical culture, practices and the social norm is different in each country. In the article, Donaldson debunked previous theories like cultural relativism and ethical imperialism while coming up with a guideline that can help companies proceed in understanding cultural difference while still being ethical. (Donaldson, 1996, pp. 48-52) As I read through the article, it made me remember past events that had cultural dilemma while helping me find new ways to help my ethical decision making skills.

International business ethics challenges the corporate world to deal with questions of what to do in situations where ethical standards come into conflict as a result of the different cultural practices in the nation. Since, there is this dilemma that has progressively troubled the large multinational corporations, international business ethics has arisen to help address these adhesive subject matters. There are several international business ethics discussions on the question of how to act in the home country as opposed to the host country is at the central point of most international corporations. The argument in question is how companies should practice their business according

The topic of this paper is business ethics within Gap Inc., a multinational retail – clothing company. The foundation of its corporate ethical approach is summarized in the Code of Conduct . This paper outlines the ethical problems Gap Inc. faced in the last years and more important, the solutions they found in order to remain a successful company. It shows how large companies deal with common issues like child labour and sweatshops.

Discussion on ethics in business is necessary because business can become unethical, and there are plenty of evidences as in today on unethical corporate practices. Even Adam Smith opined that ‘People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices’[1]. Firms and corporations operate in the social and natural environment. By virtue of existing in the social and natural environment, business is duty bound to be accountable to the

Ethics describes combination of values that guide the behavior and conduct of persons or entities. It facilitates them to distinguish between wrong and right, good and bad, what can be or should be done and what cannot and should not be done. Business contracts are lawfully binding. However, they are effectual with a robust ethical framework where parties observe and satisfy their contractual responsibilities. An efficient operative economy is enabled by competing for, acquiring and completing contracts ethically. In the case of engaging in unethical conduct a company may lose contracts, particularly government contracts, and waste resources in litigation while looking for damages. This article describes the strategy notion and different methodologies to the tactical use of social responsibility and ethics for the business environment and also impact to the employee

I believe that the focus should be on ethics when it comes to outsourcing, it is important for companies to be able to make a profit, though this profit should never come at the loss of jobs at home, these jobs provide stability for families and this stability is the backbone of future generations. Without building a strong infrastructure for future workers we are only weakening our industries and our country.