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

Discuss how personal ethical values, such as those held by Jane Harris, and corporate ethical values can influence business decisions at GlobalTech. Provide examples from the scenario where conflicts between personal and corporate ethics versus local business practices arise. - Provides a clear definition of personal and corporate ethical values and their relevance to business decision-making.- Discusses how Jane Harris's belief in ethical universalism influences her decision- making. Examples from the scenario are well integrated. - Explains the role of corporate ethics at GlobalTech, particularly around sustainability, fair wages, and safe working conditions. Discusses how these values shape business policies and practices. - Summarises the influence of personal and corporate values on decision-making and how ethical conflicts may affect a multinational business like GlobalTech. - The discussion is logically structured, with clear argumentation and a coherent flow of ideas.

Answer 1

Question

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.

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Discuss how personal ethical values, such as those held by Jane Harris, and corporate ethical values can influence business decisions at GlobalTech. Provide examples from the scenario where conflicts between personal and corporate ethics versus local business practices arise. - Provides a clear definition of personal and corporate ethical values and their relevance to business decision-making.- Discusses how Jane Harris's belief in ethical universalism influences her decision- making. Examples from the scenario are well integrated. - Explains the role of corporate ethics at GlobalTech, particularly around sustainability, fair wages, and safe working conditions. Discusses how these values shape business policies and practices. - Summarises the influence of personal and corporate values on decision-making and how ethical conflicts may affect a multinational business like GlobalTech. - The discussion is logically structured, with clear argumentation and a coherent flow of ideas.

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Explore strategies entrepreneurs and business leaders can use to balance ethical relativism and universal ethical principles when operating across diverse cultural landscapes, as illustrated by GlobalTech’s expansion into a developingcountry. -Provides a clear explanation of ethical relativism and universal ethical principles and why they are important in cross-cultural business operations. - Identifies and thoroughly explains at least three strategies to balance these ethical approaches. Application of examples from the scenario is key, especially in balancing cost savings with ethical standards. - Examines the challenges faced by GlobalTech and similar businesses in aligning local practices with global ethicalstandards, highlighting possible outcomes of choosing one ethical stance over another.