Ethical Business Trading
- Submitted by: Fraser
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- Date Submitted: 02/19/2015 10:37 AM
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Explain how far one business operates or trades in an ethical manner
Morrisons
Ethics; “Ethics, sometimes known as moral philosophy, is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct.” This is the description of ethics from Wikipedia.
In a business ethics is very important because it can effect the customers, employees, suppliers and most important the communities in which they operate in. If a company does something that is ethically wrong it will have a very bad impact on things such as sales, profit and production. Their share prices could also fall reducing their publicity. But if they are ethical it can attract extra customers and in turn more profit.
One of the activities of Morrisons that is ethical is sourcing for products responsibly. For example they have 100% British beef, lamb, pork and chicken. By sourcing meats from Britain they are keeping money in the country and are contributing to the economy. But by sourcing from the UK the price of the high quality meat will be more expensive than imported meat from a foreign country. This could drive customers away because of the price but could also bring them in because of the quality. As well as this all they also provide 100% UK wild caught seafood. To get to this point they have invested £2 million through a farm research programme. We know it is good because by the end of 2014 Morrisons have aimed to register all their suppliers on Sedex showing they are ethical and responsible.
Another aim of Morrisons that is ethical is trying to engage with communities more. They have done this by setting up programmes such as “Lets Grow” which now has 24,000 schools registered. By showing an interest in schools and children they are grabbing the attention of the parents. This could encourage them to shop and purchase products at Morrisons. They also raise money for “save the children” at the moment they have raised £7.1 million. The money...
Morrisons
Ethics; “Ethics, sometimes known as moral philosophy, is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct.” This is the description of ethics from Wikipedia.
In a business ethics is very important because it can effect the customers, employees, suppliers and most important the communities in which they operate in. If a company does something that is ethically wrong it will have a very bad impact on things such as sales, profit and production. Their share prices could also fall reducing their publicity. But if they are ethical it can attract extra customers and in turn more profit.
One of the activities of Morrisons that is ethical is sourcing for products responsibly. For example they have 100% British beef, lamb, pork and chicken. By sourcing meats from Britain they are keeping money in the country and are contributing to the economy. But by sourcing from the UK the price of the high quality meat will be more expensive than imported meat from a foreign country. This could drive customers away because of the price but could also bring them in because of the quality. As well as this all they also provide 100% UK wild caught seafood. To get to this point they have invested £2 million through a farm research programme. We know it is good because by the end of 2014 Morrisons have aimed to register all their suppliers on Sedex showing they are ethical and responsible.
Another aim of Morrisons that is ethical is trying to engage with communities more. They have done this by setting up programmes such as “Lets Grow” which now has 24,000 schools registered. By showing an interest in schools and children they are grabbing the attention of the parents. This could encourage them to shop and purchase products at Morrisons. They also raise money for “save the children” at the moment they have raised £7.1 million. The money...