Business Ethics in the Footwear, Clothing, and Textile Industries Essay

Business Ethics in the Footwear, Clothing, and Textile Industries - Essay ExampleBusiness ethical motive and conduct have been a major talking point in the TCF industry, especi all(prenominal)y with regards to the fairness of its dealings, influencees, stakeholder treatment, and rival policies. The principle of fairness seeks to ensure that TCF organizations engage in fair and free ethical competition deals with all stakeholders in a way that can describe as being equitable and fair and is non-discriminatory during the process of contracting and hiring (Braithwaite & Drahos, 2010 p401). This principle has been a problematic unmatchable within the TCF industry. The workforce is 80% female on minimum wage that averages $38 every month. This industry has the lowest costs of labor globally, and the workers unions are frighten with violence in order to stay quiet on industry standard violations (Sajhau, 2013 p34). The industry needs to create a more friendly culture for workers, enfo rcing freedom of association sans victimization, pro-labor legislation, balance the gender inconsistency gap, and fire and building inspection codes. This can be achieved with the help of global retailers.Issues related to diligence and commitment is an important concern with regards to business ethics in the TCF industry. The industry would be required to act as a fiduciary for investors and the company by carrying out the organizations operations in a loyal and diligent manner expected of trustees (Braithwaite & Drahos, 2010 p402). Corporate ethics are reflective of the business philosophy, and one of its objectives is the determination of the companys fundamental purposes.