BUS 201 Lecture Notes - Lecture 3: Price Gouging, Insider Trading, Board Of Directors

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Christian Venhuizen

Document Summary

Fairtrade labeling organizations international (flo) sponsors fair trade programs. They esta(cid:271)lish sta(cid:374)dards for the produ(cid:272)ers" produ(cid:272)ts (cid:894)(cid:272)o(cid:373)(cid:373)odities(cid:895) a(cid:374)d push for so(cid:272)ial relevant policies such as enforcing child labour laws and providing education and health care services. If market price falls below (cid:862)fair trade (cid:373)i(cid:374)i(cid:373)u(cid:373) pri(cid:272)e(cid:863) flo covers the difference, if market exceeds flo pays producers a premium. Fair trade movement began because of poor working conditions of cocoa pickers on the ivory coast (producers over 40% of worlds cocoa) Ivory coast had many boys aged 12-16 working in cocoa farms who worked 12hrs a day 7 days a week and were beaten to maintain productivity quotas. 1/3 of countries economy relies on cocoa exports. Ethics- beliefs about what is right and wrong or good and bad. Business ethics- a term often used to refer to ethical or unethical behaviours by a manager or employee of a business.