Understanding Management (MindTap Course List)
Understanding Management (MindTap Course List)
10th Edition
ISBN: 9781305502215
Author: Richard L. Daft, Dorothy Marcic
Publisher: Cengage Learning
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Chapter 4, 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.

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