HC2121 Comparative Business Ethics and Social Responsibility

Issues of globalization: How fair is fashion?

The market is full of competing and similar brands and products and this is due to the emergence of globalization.

As per the investigation executed on the presented video it has been analyzed that the concept of globalization is the most contemporary and advanced term of the modern business environment. The further analysis aided me with the knowledge of the concept and also observed that computation and automation are the two integral components of this idea. The presented video is focused on the issues faced by the fashion industry due to the emergence of globalization. (Pumpkin Interactive 2011). The trading and business of garments and textiles are executed since from a long duration and there have been lots of changes in the recent two decades. And these changes are that the process of designing is carried out in some of the world's wealthiest economies and a process of manufacturing at the poorest one (Wararkar, Kothari and Wararkar, 2016). The manufacturers are utilizing the contemporary means such as computerization and internet so as to minimize the prices of the high street fashion. In the further analysis, the video comprises of an example that is the city of Dacca that is capital of Bangladesh with a population of 4 million engaged in the business of textile industry. It has been observing that the wages paid to the workforce in the textile industry in Dacca is one-fiftieth of the American or European partners and hence it is the reason that each and every clothing manufacturer are expecting to fabricate their products here.

Issues in financial accounting and frauds

For getting exemption from tax financial and accounting frauds occur and have been considered as one of my personal experience of the scenario of issues in financial accounting and frauds.

According to the analysis made by me, it has been analyzed that the business entities are facing the number of issues due to the happenings of frauds in financial and accounting sections. A depth investigation has been made by Jim O'Toole, a Senior Fellow at The Markkula Center for Applied Ethics, accompanying with David Jolley (Markkula center 2014), Managing Partner for Markets, Ernst & Young. After analyzing the further video I observed that the individuals who committed the financial frauds were not professional criminals. The research also concluded that the main reasons behind the occurrence of these frauds are pressure, an opportunity, and an intention. There are various forms of pressures that become the reason for a situation of financial and accounting fraud. The expectations for the short-term results develop the situations or happenings of frauds (Warren and Jones, 2018).

The Bribery Aisle: How Wall-Mart Used Payoffs to Bribe Its Way Through Expansion in Mexico

The demonstrated video is focused on the bribery case of Wall mart in the city of Mexico. According to my personal observation, it has been noted that the business entity adopted un-ethical means and mediums for stimulating and violating the bribery case in Mexico. The focus is given on the development of a supermarket named as Bodega Aurrera in Mexico as it is one of the controversial cases of the history (Through Expansion in Mexico 2012). As the supermarket was built in the shadow of the revealed cultural landmark that is the ancient pyramids of Teotihuacan and due to which the cultural heritage of the city will be violated and disrupted. To stop this construction the civilians protested and made hunger strikes. As observed by me the entity paid and bribed the authorities by offering an amount of $ 200,000. The business corporation also bought the zoning map and the compliant authority. For investigating the case in depth the US justice department took involvement in order to find that whether the firm has despoiled the corrupt practices act and according to the American corporations the entity will be considered as a criminal.

You Sip We Sow: Cotton on Foundation Coffee project

The presented scenario is concentrated on the statement that is “a seed of thought can be proven beneficiary and can bring the difference to the lives of the communities”. As per my personal analysis, it has been analyzed that if this seed of the idea is grown further then, it will bring positive outcomes such as cultivate happiness and advancements in the livelihood of the communities in Southern Uganda (Cotton on foundation 2013). It has been observed that the organization is working on a mission that is named as Coffee webale, in which the business the organization is trying to establish and develop a sustainable Mannya, a village in Southern Uganda. And for this, the foundation is taking initiative by planting coffee and cocoa plants and thus advancing the layering infrastructure for productive and sustainable farms (Weygandt, Kimmel and Kieso, 2015). Educational services are also provided to the villagers of Mannya so as to generate employment and income.

Cotton on Foundation Wrap-up

I have done volunteering at a sports event that was organized for a social cause and was a charity event.

As per my analysis, Cotton on a foundation is an association that is working for a social cause. The presented video is focusing on the educational services offered by the association to the backward and poor communities in the regions of Mannya in Southern Uganda. Developing 20,000 educational infrastructures by the end of 2020 is the prime objective of the foundation (Cotton on foundation 2013). On the basis of the analysis, I noted that the current number of students is 4285 and estimation of 20,000 are made for the future. For this, the foundation is making various collaborations with several other foundations involved or interested in doing a social cause. “The Global Poverty Project” and the “Global Citizen” festival in New York City are such two teams with which the association is working collaboratively for accomplishing the desired goals.

References

Cotton on foundation, 2013, Cotton on foundation wrap up, Assessed on 1^st February 2018, https://www.youtube.com/watch?v=L6KKXXuXuS8.

Cotton on foundation, 2013, You sip; we sow Cotton on foundation Coffee project, Assessed on 1^st February 2018,  https://www.youtube.com/watch?v=Bupv47wNN3A.

Markkula center, 2014, Issues in financial and accounting fraud, Assessed on 1^st February 2018, https://www.youtube.com/watch?v=YZcfq2pa5pQ&feature=youtu.be.

Pumpkin Interactive, 2011, Issues in globalization: How fair is fashion? Assessed on 1^st February 2018, https://www.youtube.com/watch?v=3YAUvDmMGMI

Through Expansion in Mexico, 2012, The Bribery Aisle: How Wal-Mart Used Payoffs to Bribe Its Way Through Expansion in Mexico, Assessed on 1^st February 2018, https://www.youtube.com/watch?v=hmr6uHjoV8o.

Wararkar, P., Kothari, M. and Wararkar, K., 2016. Performance Analysis of Supply Chain Management Technique at Textile Industry in India in Accordance with Indian Textile Market. International Journal on Textile Engineering and Processes, 2(3), pp.34-39.

Warren, C.S. and Jones, J., 2018. Corporate financial accounting. Cengage Learning

Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015. Financial & managerial accounting. John Wiley & Sons.

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