Chapter 5, Problem 3OTJVC

Summary Introduction

To determine:

What fair trade mean to the leaders at Theo and what would happen if fair trade goals conflict with a company's primary responsibility to be profitable.

Concept Introduction:

There are ten principles that World fair Trade Organization (WFTO) prescribes which must be followed by the world trade organizations in their day-to-day tasks and activities and are monitored well to ensure that they are being followed up by all of their employees.

These ten principles of fair trade include:

• Creating Opportunities for Economically Disadvantaged Producers.
• Fair Trading Practices.
• Transparency and Accountability.
• Fair Payment.
• Follow Non Discrimination, Gender Equity and Women's Economic Empowerment, and Freedom of Association practices.
• Ensuring no Forced Labour and Child Labour.
• Developing skills and capabilities.
• Ensuring Good Working Conditions.
• Impact on the Environment.
• Promoting Fair Trade.