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Morals and ethics are a part of discipline and discipline are integral for Business. Having an approach towards personal integrity and also a catcher for the sensitivity and awareness required in business (Greenwood, & Freeman, 2018).
The company in the given scenario has been dealing cotton with the local middleman for quite a while now. They have been providing them with one of the most efficient and most exceptional qualities of cotton in the market now. "Fair-trade" cotton can eventually cost them an expensive production for small business, and their company’s efficiency can rest upon risk. Though, duly noticing such unfair compensation can’t be allowed to be regulated on the basis. Unethical business is just another glance of corruption and such disruptive trades aren’t given second chances (Calabrese, Iandolo, Caputo, & Sarno, 2018). The will be having "Fair-trade" cotton from the local middleman and ensure a positive mark on the environment and economic life of small cotton grower’s (Carimentrand, & Ballet, 2018). The company will be duly taking a specific amount of finest cotton from small cotton grower’s crops annually. This would preserve their long-term relationship with the local middleman and our company’s efficiency and reputation; also it will create an opportunity for small cotton growers to receive a fair value for their crops in the market.
Virtue Ethics is immensely powerful towards decision making and so does the effectiveness of it shows. Providing the tangled situation, in business it can be highlighted on a regular dialogue, putting forward the interests of the organization but also having a people-pleaser context in favoring their interests.
Calabrese, M., Iandolo, F., Caputo, F., & Sarno, D. (2018). From mechanical to cognitive view: The changes of decision making in business environment. In Social Dynamics in a Systems Perspective (pp. 223-240). Springer, Cham.
Carimentrand, A., & Ballet, J. (2018, June). Fair trade twin towns Pondicherry and Auroville: a fresh look at activism. In FTIS 2018 Fair trade ans the SDGs: investigating the fairness of sustainable development.
Greenwood, M., & Freeman, R. E. (2018). Deepening Ethical Analysis in Business Ethics. Journal of Business Ethics, 147(1), 1-4.
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