companies are directed and controlled‚ which involves a set of relationship between a company’s management‚ its board‚ its shareholders and other stakeholders‚ and the objectives for which the corporation is governed. There are mainly three important theories included in corporate governance‚ which are agency theory‚ transaction cost theory and stakeholder theory‚ each theory views corporate governance from different perspectives. These three theories play significant roles in understanding the corporate
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P2-Explain the implications for the business and stakeholders of a business operating ethically. In this P2 task‚ I will be explaining the implications that Primark’s unethical practice has on itself and on its individual stakeholders. I will start of by introducing Primark’s 7 main stakeholders are and I will also explain how each of these stakeholders is affective by Primark unethical activities. I will now discuss how these stakeholders are affected positively or negatively by Primark’s unethical
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assess and put my views across towards how Primark could improve its operations ethically. • The manufactures poor working conditions in the factors in Bangladesh where the cloths are made. • Child labour • Low wages for the workers I feel that after careful consideration it is important that the ethical issues for Primark that are listed above are addressed from a different angle to see if there are changes that can be made to improve Primark ethically. Poor working conditions
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which will be Primark and one business not for profit which will be the NHS. In this newspaper article I will describe the type of business‚ purpose and ownership of two contrasting businesses. Finally I will describe the different stakeholders who influence the purpose of the two contrasting businesses. P1 : The first Primark store was opened by Arthur Ryan in Dublin in 1969 under the name Penneys. Primark is an Irish clothing retailer who today operates in over 270 stores. Primark operates in nine
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Understanding business ethics Definition: Primark CSR policy employees have equal opportunities based on merit: suppliers are treated fairly local communities are respected and supported by Primark the company takes its environmental responsibilities seriously CSR - CSR is a process with the aim to embrace responsibility for the company’s actions and encourage a positive impact through its activities on the environment‚ consumers‚ employees‚ communities‚ stakeholders. Wikipedia Corporate governance
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of needs and wants of many interest groups. It is no longer for society to accept a company conduct only economic activities‚ fulfill it self-interest of profit and bush off the consequence of social well-being and relationship with stakeholder. The term of “Stakeholder” not only consist of anyone is interest in the outcome of company but also outside the company‚ including supplier and consumer (Verkerk 2001). However‚ relationships of supplier and consumer are often been neglected in corporate identity
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consumers‚ employees‚ stakeholders and communities. I will be discussing and implying sources and concept to my chosen company Primark and discuss where they failed to add CSR to their company. A good use of CSR in a company can be the fulfilment of social or environmental goals‚ as opposed to a business that tries to achieve its financial goals while minimizing any negative impact on society or the environment. These businesses are called Social Enterprises. Primark is a multinational‚ high
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one of the following brands and conduct research into their business ethics. 1. Using Primark as a case study‚ visit their website/conduct research into their activities to help with the tasks below. Task 1: PRIMARK – GROUP PRESENTATION • Explain the ethical issues Primark needs to consider in its operational activities (P1) • Explain the implications for both the business and stakeholders of the business operating ethically. (P2) • Assess how the business could improve the
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Abstract Anglo-American and Primark are among the world’s leading companies. In this paper‚ I will analyze their application of ethics and then utilize “A Model of Business Ethics” to help describe the two companies ethical practices. The paper will provide a discussion of the costs and benefits of an organization as well as define ethical business. Introduction Anglo-American and Primark are two multinational organizations with different Code of Conduct ethics. However‚ the rapid economic
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Table of Contents A Critical Analysis into the Sustainability and Ethical Marketing Approach for Primark Introduction This paper will be looking to critically analyse an organisation and their approach to sustainability and ethical marketing. Sustainability is a significant conceptual tool used for assessing not only the economic aspects but also the social development it involves the business activity more generally. (Rosell and Moisander
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