Assignment Question: Stakeholder Theory and Business Ethics Framework Background: Stakeholder theory posits that organizations should consider the interests of all stakeholders—groups or individuals that can affect or are affected by an organization's objectives—when making decisions. Business ethics, on the other hand, revolves around moral principles and values that guide behavior in the world of business. Together, the stakeholder theory and business ethics provide a robust framework for organizations to make ethical decisions that account for a wide range of interests. Objective: Your task is to critically analyze a real-world business scenario using both the stakeholder theory and a business ethics framework. Business Scenario : In early 2022, Shein, the fast-fashioned company, was facing allegations and criticism regarding labor practices in their supply chain. According to what had been reported, shein has been accused of poor labor practices, including the allegation of child labor and forced labor. Shein's spokesperson asserted a commitment to human rights, adherence to local laws, and a strict code of conduct aligned with the International Labour Organization's conventions, with zero tolerance for forced labor. “As a global company, Shein takes visibility across our entire supply chain seriously. We are committed to respecting human rights and adhering to local laws and regulations in each market we operate in,” a Shein spokesperson told CNBC. “Our suppliers must adhere to a strict code of conduct that is aligned to the International Labour Organization’s core conventions. We have zero tolerance for forced labor.” - Shein's spokesperson. However, a journalist's interview with a Shein warehouse worker revealed claims of long hours without breaks, contradicting Shein's assurances. “I have no time to sit and take a rest. I feel exhausted at the end of the day.”- Shein warehouse worker While Shein asserts the presence of a stringent code of conduct prohibiting child labor and guaranteeing fair working conditions, there have been occurrences where their suppliers were discovered to be breaching these established standards. It is imperative for Shein to implement more rigorous measures to enforce their code of conduct and guarantee the absence of unethical practices in their supply chain. QUESTIONS: 1. Stakeholder Theory Analysis: How did the company prioritize or neglect the interests of its stakeholders? Did the company's actions align with the core principles of stakeholder theory?
Assignment Question: Stakeholder Theory and
Background:
Stakeholder theory posits that organizations should consider the interests of all stakeholders—groups or individuals that can affect or are affected by an organization's objectives—when making decisions. Business ethics, on the other hand, revolves around moral principles and values that guide behavior in the world of business. Together, the stakeholder theory and business ethics provide a robust framework for organizations to make ethical decisions that account for a wide range of interests.
Objective:
Your task is to critically analyze a real-world business scenario using both the stakeholder theory and a business ethics framework.
Business Scenario :
In early 2022, Shein, the fast-fashioned company, was facing allegations and criticism regarding labor practices in their supply chain. According to what had been reported, shein has been accused of poor labor practices, including the allegation of child labor and forced labor. Shein's spokesperson asserted a commitment to human rights, adherence to local laws, and a strict code of conduct aligned with the International Labour Organization's conventions, with zero tolerance for forced labor.
“As a global company, Shein takes visibility across our entire supply chain seriously. We are committed to respecting human rights and adhering to local laws and regulations in each market we operate in,” a Shein spokesperson told CNBC.
“Our suppliers must adhere to a strict code of conduct that is aligned to the International Labour Organization’s core conventions. We have zero tolerance for forced labor.” - Shein's spokesperson.
However, a journalist's interview with a Shein warehouse worker revealed claims of long hours without breaks, contradicting Shein's assurances.
“I have no time to sit and take a rest. I feel exhausted at the end of the day.”- Shein warehouse worker
While Shein asserts the presence of a stringent code of conduct prohibiting child labor and guaranteeing fair working conditions, there have been occurrences where their suppliers were discovered to be breaching these established standards. It is imperative for Shein to implement more rigorous measures to enforce their code of conduct and guarantee the absence of unethical practices in their supply chain.
QUESTIONS:
1. Stakeholder Theory Analysis: How did the company prioritize or neglect the interests of its stakeholders? Did the company's actions align with the core principles of stakeholder theory?
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