Primark 's Mission Statement : An Unethical Or Ethical Business Practices

1682 Words Nov 12th, 2014 7 Pages
Primark notes
Definition of business ethics-Ethics are moral principles that guide the way a business behaves.Acting in an ethical way means that companies distinguish between “right” and “wrong” and then making the “right” choice in relation to moral choices. Companies can easily highlight whether a decision is an unethical or ethical business practices. For example, companies should not use child labour.

Primark’s mission statement, corporate aims and objectives
Primark’s mission statement is “To provide quality clothing at prices perceived to offer real value.” (Source- slideshare.net)Primark however as a low cost store must find ways in which to offer value and great quality products ethically or they could receive bad publicity in the media which could lead to a decrease in sales and customers who choose to shop at Primark stores.
Aims and objectives of Primark as a business include:
• To provide good quality products
• To sell goods at reasonable prices
• To be friendly and helpful towards customers and staff
• To treat everybody the same
(Source: http://www.globalmarket.com/)

Fairtrade and sustainability issues
Definition of fair-trade –This is where a business pays a fair and decent price to suppliers such as farmers for their goods and do not offer low prices just to make profits
Definition of Sustainability-Is the continued development of a business without depletion of natural resources and environment.
Being sustainable over the long-term is a good business…

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