Unit 37 P2
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 practices.
Customers: Although Primark produces in Bangladesh and India, their main customer base is in Europe. Customers point of view is to buy products that are cheap and of good quality. Without the customers, Primark as a company would not survive because in all situations, customers are the main priority and their needs have to come first. Customers are vital stakeholders because they can instantly choose to spend their money on another company that could turn out to be a competitor for example, Primark former customers could start shopping at New Look. As a result of Primark’s unethical behaviour, customers will benefit in a positive way. The reason why customers will benefit from Primark’s unethical behaviour is because products will be cheaper for them to purchase instead of going to other clothing stores like River Island. This is also a benefit to customers because most of Primark’s stores are based and operate in Ireland, U.K and even Europe so customers will find it as a cheaper alternative not knowing that Primark’s workers earn low payment.
Communities: The community is an important stakeholder for Primark because they welcome the company to their area and responsible for publicizing within the area. Primark has trust on their community as they are an essential part of the company. The community also helps Primark with advertising has they give a word of mouth about their business and without the community, Primark has no trust. As a result of
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 practices.
Customers: Although Primark produces in Bangladesh and India, their main customer base is in Europe. Customers point of view is to buy products that are cheap and of good quality. Without the customers, Primark as a company would not survive because in all situations, customers are the main priority and their needs have to come first. Customers are vital stakeholders because they can instantly choose to spend their money on another company that could turn out to be a competitor for example, Primark former customers could start shopping at New Look. As a result of Primark’s unethical behaviour, customers will benefit in a positive way. The reason why customers will benefit from Primark’s unethical behaviour is because products will be cheaper for them to purchase instead of going to other clothing stores like River Island. This is also a benefit to customers because most of Primark’s stores are based and operate in Ireland, U.K and even Europe so customers will find it as a cheaper alternative not knowing that Primark’s workers earn low payment.
Communities: The community is an important stakeholder for Primark because they welcome the company to their area and responsible for publicizing within the area. Primark has trust on their community as they are an essential part of the company. The community also helps Primark with advertising has they give a word of mouth about their business and without the community, Primark has no trust. As a result of