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Changing Business Practices + Ethics and Sustainability 10 Mark Question

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Introduction

Transfer-Encoding: chunked ´╗┐Ethics and Sustainability 10 Mark Question Primark makes and sells low priced clothing and accessories. They must be seen to operate in an ethical way. This means treating stakeholders holders in a fair and honest way and complying to all relevant legislation. Consumers want to buy from companies who operate in an ethical way. They will not want to buy products that have been made using child labour. Primark must ensure that the workers in it?s factories in developing countries are paid a fair wage, not be forced to work overtime and are old enough to be at work. They must also ensure that the factories are safe and do not endanger the health of employees If Primark are found to be operating unethically then their reputation will fall which will stop existing customers from buying form them and discourage new customers. ...read more.

Middle

Primark will need to invest in training and systems to ensure they are working in an ethical manner. They will also need to communicate the good work they are doing to customers. This will cost Primark time and money but will ensure that consumers are satisfied that they are buying from a responsible retailer and that they are protected from negative publicity Changing Business Practices 10 Mark Question Britain is facing an ageing population. Apple will need to change their business practices to respond to this or it may result in negative consequences for the business. Apple can change their business practices in a number of ways to respond to an ageing population. One thing that they could do is adapt their products to be more suited for the older generation. ...read more.

Conclusion

This will result in a loss of potential customers for Apple which will lead to a loss in potential profit. It might also make the competitor stronger which will make it harder for Apple to compete. Another negative consequence to Apple of not making changes to its business practices is that they might make their existing customers unhappy. This is because many of these existing customers might be part of the ageing population and would feel under- valued by Apple if their needs were not being met. These customers might stop buying Apple products resulting in a loss of profit. Apple need to be aware of changes to the environment like an ageing population and be ready to change their business practices to respond. If they do not then it could mean a loss of customers and therefore profit plus it could allow competitors to become more powerful. ...read more.

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