1. Ethical trade is the aspect of engaging in business in a way that impacts the lives of all the stakeholders positively. The stakeholders count from the producers, the workers as well; as the consumers. It is all about doing the right thing all through the supply chain. It mainly touches on the welfare of the workers, ensuring that they are treated with utmost dignity and paid fairly for their work.
2. Many of the customers are concerned about how the workers are treated. Many feel that the workers need to be treated fairly and compensated well for what they do. In the video, many customers feel that they are concerned about the way in which the products are made as well as the environment around the production. In this regard, they are concerned about the welfare of the employees behind the products they buy.
3. The statement that good labor practices result in higher quality and productivity is supported in various ways. Mainly, the statement is supported by the argument that treating the employees well increases their motivation and liking on their respective jobs. Thus, the employees tend to give their best hence increasing the productivity and the quality level.
4. I strongly agree with the thought that strong ethical trade policy attracts good staff and retains their morale. In this case, a strong ethical policy means that the organization maintains a good relationship with the current workers. For instance, it organizes the time to time training sessions. This creates a positive image to the public, thus attracting good staff as well. Also, a strong policy increases the morale of the workers due to the increased level of motivation.
5. My purchases are impacted by the way companies treat their customers. This is because the treatment of the workers is felt with the quality of their products. Therefore, I prefer purchasing from companies treating their employees well so as to get the best quality from them.