Question

Explain why working and labor conditions are an ethical issue that is currently influencing the international community and what stakeholders are being influenced by this issue and how.

Answer 1

For any business, the workforce is a valuable asset, and a sound worker-management relationship is a key ingredient to the long-term sustainability of the enterprise. Failure to establish and foster a sound worker-management relationship can undermine worker commitment and retention, result in labor strikes, and can jeopardize a client’s/ investee’s operations. Conversely, through a constructive worker-management relationship, and by treating the workers fairly and providing them with safe and healthy working conditions, clients/ investees may create tangible benefits, such as enhancement of the efficiency and productivity of their operations. So to ensure a quality product, it is very much important to ensure a quality working conditions for labor to work in, so that they may feel like working more productively and so that is why working and labor conditions are influencing the international community.

Stakeholders:

Whosoever getting engage with a poor quality output, if the labors are not getting quality working conditions, will be effected by this, like:

• Investors: Any change in the quality of the output, may will lead to change in profits, thus, will effect them
• Government: Change in the profit can affect the change in tax liabilities
• Customers: Change in quality of o/p
• Owners: Any change in the quality of the output, may will lead to change in profits, thus will affect them.
• Financiers: Any change in the quality of the output, may will lead to change in profits, thus will affect them.
• Managers:  Any change in the quality of the output, may will lead to change in profits, thus will affect them.