Ethical Issues: Summary Of The Case: Mr. Price
SUMMARY OF THE TOPIC
Mr Price is a company that, in general, is seen to operate in a very ethical manner. Ethics however is not just about how the company itself operates but includes the ethical practices of all of its business partners, such as suppliers. If Mr Price did business with a company that uses unethical business practices it would be viewed in a negative light. Doing business in an ethical way is important to the sustainability of the company. This is because operating in an unethical manner would affect the image and perceptions of the company and ultimately negatively affect its sales. Customers, in general, would not want to purchase from a company that supports or engages in unethical business practices.
Operating in an ethical …show more content…
Mr Price’s stakeholders would include its staff, shareholders, clients and its suppliers. The range of stakeholders is quite wide and monitoring ethical business practices among them may be a challenge. In addition, there is also a wide range of factors affecting ethical trading. This range of ethical factors that need to be identified and monitored include the …show more content…
The most serious incident was when they used a supplier in Myanmar where a military government was in place with a poor human rights record. Mr Price, however, reacted quickly to stop all manufacturing in that country even though the manufacturer may have met all conditions set by Mr Price.
What is clear is that consumers want to know if the companies from which Mr Price purchases act in an ethical way. Most of the criticism towards Mr Price was perceptions of the company possibly engaging in unethical business practice but none were supported by hard facts (except for the Myanmar example).
From my view and the review of articles I would say that Mr Price acts in an ethical manner. It has also gone through the effort of ensuring it has a supplier code of conduct to ensure ethical behaviour goes beyond just their own business practices.
Mr Price is a successful company partly because it engages in ethical behaviour and a high level of corporate social responsibility. This ensures that it attracts customers, employees and investors to the
Mr Price is a company that, in general, is seen to operate in a very ethical manner. Ethics however is not just about how the company itself operates but includes the ethical practices of all of its business partners, such as suppliers. If Mr Price did business with a company that uses unethical business practices it would be viewed in a negative light. Doing business in an ethical way is important to the sustainability of the company. This is because operating in an unethical manner would affect the image and perceptions of the company and ultimately negatively affect its sales. Customers, in general, would not want to purchase from a company that supports or engages in unethical business practices.
Operating in an ethical …show more content…
Mr Price’s stakeholders would include its staff, shareholders, clients and its suppliers. The range of stakeholders is quite wide and monitoring ethical business practices among them may be a challenge. In addition, there is also a wide range of factors affecting ethical trading. This range of ethical factors that need to be identified and monitored include the …show more content…
The most serious incident was when they used a supplier in Myanmar where a military government was in place with a poor human rights record. Mr Price, however, reacted quickly to stop all manufacturing in that country even though the manufacturer may have met all conditions set by Mr Price.
What is clear is that consumers want to know if the companies from which Mr Price purchases act in an ethical way. Most of the criticism towards Mr Price was perceptions of the company possibly engaging in unethical business practice but none were supported by hard facts (except for the Myanmar example).
From my view and the review of articles I would say that Mr Price acts in an ethical manner. It has also gone through the effort of ensuring it has a supplier code of conduct to ensure ethical behaviour goes beyond just their own business practices.
Mr Price is a successful company partly because it engages in ethical behaviour and a high level of corporate social responsibility. This ensures that it attracts customers, employees and investors to the