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- Employees at H&M around the world are considered primary steakholders
- Shareholders such as The Stefan Persson family and related companies, who have over 670,000,000 number of shares, are also considered primary steakholders
- H&M's biggest
competitors are
among some of fastest
growning companys
right now such as; Zara, Top Shop/Top Man, and Forever 21.
- H&M only has 2 suppliers in USA, hundreds of others are placed around the world with most residing in underdeveloped countries.
Who?: H&M (Hennes & Mauritz) Retail Company
What?: Sweatshops and mistreating factory workers
Where?: Undeveloped countries, but focused on Cambodia
When?: Brought to light in 2016 but goes back to around 2010
Why?: Cheaper for them and they make more $$
Cambodia:
- As Cambodia is a hierarchical culture the business world follows suit in terms of protocol and behaviours.
- Respect and deference must always be shown to the most senior person.
- Cambodians address people with the honorific title "Lok" for a man and "Lok Srey" for a woman with the first name alone or both the first and surname.
- Provides jobs to many
- Cheaper for the company
- Allows companies to mass produce/distrubute
- Better economy
- Lower unemployment rate
- Bad/unsafe working conditions
- Barely get paid --> way below minimum wage
- Mass amounts of people fainting/passing out per year (4000+)
- Workers are forced into contracts
- Workers can't take time off --> overtime
H&M’s clothing is made primarily in Bangladesh, a country with a dark history when it comes to labor practices of its factory workers. The brand’s suppliers have consistently skimped on safety regulations for their employees, which has led to the deaths of hundreds of factory workers in the past few years alone.
- It is easy to emphasize individual responsibility for decisions, but these decisions do not exist in a vacuum.
- Decision making will be influenced, even determined, by the corporate culture of the firm.
- This chapter surveys some of the major issues around the development and management of a corporate culture, and the role of business leaders in creating and maintaining ethical cultures.