• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

I have chosen Marks & Spencers for this part, to analyse the consequences for different stakeholders of Marks and Spencers to see if they conduct the company in an ethical or unethical manner.

Extracts from this document...

Introduction

D1 Consequences for different stakeholders that conduct businesses in ethical and unethical manner I have chosen Marks & Spencer's for this part, to analyse the consequences for different stakeholders of Marks and Spencer's to see if they conduct the company in an ethical or unethical manner. Marks & Spencer's believes that the company's responsibility is not an additional burden or a distraction from serving the customers; it is essential for sustaining themselves as a responsible company. However, according to two independent rankings of top companies in 2004 was named Marks & Spencer's as one of the worst offenders on social and environmental issues and heavily criticized its Corporate Social Responsibility (CSR) report for being incomplete and poorly verified. Social audit- this is a process that enables an organisation to assess and demonstrate its social, economic and environmental benefits and limitations. It is the way of measuring the extent to which an organisation lives up to the shared values and objectives it has committed itself to. Social auditing provides an assessment of the impact of an organisation's non-financial objectives through systematically and regularly monitoring its performance and the views of its stakeholders. Ethical impacts- advantage and disadvantages for treating stakeholder in an ethical manner: * The main advantage would be that the company will be able to maintain its high ethical standards and because they are practicing activities in an ethical manner right will help you to stick to being ethical no matter what. ...read more.

Middle

In its report are cite 30 ways in which supermarkets exploited their power over suppliers. These included 'requests' for 'over riders' and retrospective discounts, requests for promotion expenses, making changes to contractual arrangements without sufficient notice, late payment of invoices and unreasonably transferring risks from the supermarket to the supplier. Employees-working in M&S stores can be low-pay option too, and conditions are often demanding and physically challenging. M&S is even trailing a scheme to stop workers sick pay on the first three days taken off, as is stands, statutory sick pay only kicks in after the first three days when the company can claim about 80% back from the government In order for M&S to give consumers what they want or is perceived to want, is what M&S will provide and this strategy has been key to its business success since customer needs are in reality, merely comes to an end. After the customers it's the shareholder's needs that must ultimately take priority. M&S and many other supermarkets are committed to conducting business in an ethical and socially responsible manner. This relates to all aspects of business, treating employees, customers, suppliers and most importantly shareholders in a fair and honest manner and ensuring that there are constant and open channels of communication. I personally believe that businesses should aim to treat their stakeholders equally just giving that bit of importance to their shareholders and making sure they get their dividends on time as this will ...read more.

Conclusion

The groups demonstrated that they was an increasing concern amongst Japanese consumers and that falling prices and growing stockpiles of whales meat indicated a significant decrease in domestic demand for the products. The groups pressed M&S to consider this wealth of evidence and end selling whale meat. EIA and green peace met with M&S representatives on two occasions and told M&S the UK's leading retailer to immediately withdraw all whale meat products that were being sold in at least 45 of their supermarket stores in the Tokyo area. More than 20,000 small whales, dolphins and porpoises are also killed in Japans coastal waters. A significant percentage of the cetacean (large sea animals) products on sale in Japan have been shown to be highly polluted, posing a potential health threat to consumers. These groups made statements such as 'contaminated whale products being sold', 'threats on human health' and for reasons alone M&S should stop endorsing such products. Marks & Spencer's took its decision to stop selling whale products shortly after their second meeting, and indicated that it had immediately stopped purchasing whale meat. According to M&S they took the decision "due to lack of customer demand". However in theory, they stopped selling because of high pressure from theses groups who successfully influenced a change in their behaviour, I personally believe that M&S was afraid of losing its population in the market and getting a bad reputation, which clearly tells us that how these stakeholders can have a huge impact in the way you conduct your business. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Structures, Objectives & External Influences essays

  1. McDonalds ethical issues

    The sort of diseases that are now responsible for nearly three-quarters of premature deaths in the western world. McDonald's promote its food as nutritious while in fact it is classified as junk food. It is claimed by anti-McDonald websites that McDonald's food also contains many chemical additives, some of which may cause ill-health and hyperactivity in children.

  2. For my portfolio, I was asked to do an assignment on two businesses. I ...

    Retail, distribution, hotels and catering services. It includes business like retail sales and wholesalers such as Sainsbury, Asda, Safeway, Mcdonalds, K FC, Argos, Corner Shop, and Microsoft. In this sector it includes business like hotel, restaurant, bars and canteens. c) Are those sectors growing or decline in United Kingdom?

  1. Explain the ethical issues H & M needs to consider in its operational ...

    But H&M bear the great responsibility of engaging in every possible way and promoting higher wages in production countries such as Bangladesh. Also H&M aim to contribute towards positive long term development and higher wages for factory workers. While H&M rejecting their suppliers could be seen as a quick fix

  2. I will be discussing the political, social, and legal factors that impact on the ...

    Cit/.y of London Academy Islington: The Two political factors for the City of London academy Islington is Political stability and infrastructure. Political stability can affect the school because political stability means the government having power.

  1. Investigating Business. Tesco PLC. I will be describing the aims and objectives of ...

    The two techniques of advertising are Above-The-Line promotion and Below-The-Line promotion. Above-the-line promotion is direct advertising through media such as TV, Internet, Newspapers, Billboards, magazines and radio. Below-the-line promotion is all other forms of promotion it includes promotion methods which are more personal & traditional.

  2. D2: Analyse the importance of legislative and regulatory controls on food retailers

    For food retailers slips and trips remain the single most common cause of major injury in the retail sector. Food retailers need to have warning signs if there is any wet floors, this helps their customers identify the hazard and not to hurt themselves.

  1. Discuss the impact of stakeholders onTesco PLC and Process Instruments (UK) Ltd.

    It is important that Tesco understand their importance and keep them happy so the employees can work to the best of their abilities serving the customers and without having as many employees as they do, Tesco would not be a multinational corporation as it is now.

  2. How Marks and Spencers applies business ethics.

    Switching oil based plastics to bio plastics encouraging small suppliers, including farmers, to build renewable energy generation. In order to lower the energy that they use Most recently charged customers to use their plastic bags in a hope to cut plastic waste so that they can reach targets, which is

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work