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Is Ethical Soucing Souce of Competitive Advantage - Literature review Example

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This essay stresses that ethical sourcing is a term that is created and defined by an individual organizations principles and practices. It’s a perfect blend of sustainability, values imbibed in a business practice and  social responsibility which is built into an organizations supply chain process…
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Is Ethical Soucing Souce of Competitive Advantage
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"Is Ethical Soucing Souce of Competitive Advantage"

Download file to see previous pages This discussion declares that evironmental friendliness and its protection are also considered an essential element of ethical sourcing of goods and services.  Ethical sourcing is all about making right decisions at right time. Infact, it is regarded as an integral part of Corporate Social Responsibility in the modern business regime.This paper discusses that after analyzing the various aspects of implementing ethical sourcing in various organization such as Starbucks, Nike etc the common benefits that one can attain from adopting the means of ethical manufacturing sourcing generally relate to a wider market audience and conformance with pre-defined ethical standards and principles that facilitate an organization to create brand image and adhere to the corporate social responsibility. Risk management is better managed through ethical sourcing right at the source or the grass root level that creates a sense of responsibility among the suppliers in terms of organizational commitment towards ethical challenges and future goals. Ethical sourcing saves an organization from the anguish of its customers and negative image that it can create in future, for instance Nike hires child to saw the football, because they simply have no consideration for social ethics but only profit. Such kind of an attitude certainly has a negative impact on the customers. Adopting ethical norms and protocols can save the organization of such embarrassment....
acilitator in reducing exorbitant costs by adopting supply chain sources that focus on developing supplier relationship management and attain benefits of compliance management. Moreover organizations are self motivated to monitor their actions and carry on regular self assessment. Ethical sourcing is an effective medium to reward positive and constructive suppler behavior that consistently drives for growing business and at the same time a means to penalize negative and unpleasant conduct as well. Disadvantages of Ethical Sourcing Ethical sourcing however is a hindrance that suppliers face in their normal course of business for instance organizations hold varied perception issues that suppliers hold in terms of the tools and equipments that might need for ethical sourcing, thus they prefer to avoid it. Organizations find it expensive to adopt ethical supply chain and distribution networks thus generally face lack of coalition among business and individual objectives (Wrobleski & Oza 2011) Many authors have given varied viewpoint regarding ethical sourcing. For instance Cathy Mejia said that it is highly important for an organization to adopt ethical sourcing as it helps in communicating the strong ethical values an organization upholds for its stakeholders. Economists like Davies and Crane, 2003, Wadha (2009), have also commented on the significance of Ethical sourcing saying that fair trade policies of an organization can actually help to shape up the organization structure to achieve long term goals and positive company image. For instance in a research done by Gennarwilson (2009), it was found that child slavery exists in cocoa industry where children are made to work for long hours and parents avoid sending them for education. Almost 90 million bunnies, 27 million ...Download file to see next pagesRead More
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