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.

Question

Accounting 15

Answer 1

Question

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.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

Accounting 15

Give five areas of publicly available information that help to establish the health and public image of a company. Propose a web-based information system that will interface with this information display current details on these areas to an executive; include in discription how each item is relevant to the health of the business. Business abbreviations such as stocks are perfectly acceptable as raw data. Ideally, these categories would all be visible on a single monitor screen without scrolling. Suggest two ways this system might be useful.

Kim and Park (2011) argue that corporate social responsibility (CSR) activities not only have value for benefitting social causes but can also be regarded as recruiting tools for attracting potential employees who perceive the organization and its CSR activities as an ethical fit. The foundation of this argument comes from an organizational perspective that views employees as important assets for a corporation. Coming from this perspective would mean that corporations would be cognizant about the imperative to have an active CSR program that matches corporate values, missions, and cultures. identify the top ten companies to work for last year. Choose one of these companies and further research its CSR activities. What is the company that is chosen? What are the company's CSR activities? What do these activities communicate about the company? Assess whether these activities are cause beneficial or cause exploitative? Would you consider working for this company?