Background Information Rapid changes in media, transport and communications technology have made the world economy more...
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Background Information Rapid changes in media, transport and communications technology have made the world economy more interconnected now than in any previous period of history. Many of the products Canadian companies use or sell Canada are produced in various countries around the world. Businesses source from countries like India, China, Bangladesh and Turkey because of lower material and labor costs in these countries. In order to meet consumer demand, your company sources products from suppliers around the world. You were told by a close friend that two of your key suppliers are mentioned in the media for the wrong reasons. One of them is a local Canadian supplier was accused by the local media that they employee illegal immigrants and hence involved in illegal activities. The other supplier is an oversees supplier who has been charged for operating a sweatshop or slave labor in parts of Asia. You talked with your manufacturing and marketing teams and they told you that if the company stop dealing with these two suppliers it will take 6 months to find, test and approve new suppliers. Since the company has a stock of 3 months only, that means that the company's stock will be out for 3 months and the company won't be able to supply customer orders. So far no one including the media noticed that these two suppliers work with your company. Your Group's Activity Your business group will brainstorm how the company will deal with this situation. As a group, decide what decision the company will take regarding dealing with these two suppliers. Your Group Report Write a brief report summarizing your group's conclusions and decisions. Consider the following points: • Identify the key stakeholders who are impacted by this situation. • What would be the communication plan for each stakeholder? • How you'll implement the decision you have taken. Background Information Rapid changes in media, transport and communications technology have made the world economy more interconnected now than in any previous period of history. Many of the products Canadian companies use or sell Canada are produced in various countries around the world. Businesses source from countries like India, China, Bangladesh and Turkey because of lower material and labor costs in these countries. In order to meet consumer demand, your company sources products from suppliers around the world. You were told by a close friend that two of your key suppliers are mentioned in the media for the wrong reasons. One of them is a local Canadian supplier was accused by the local media that they employee illegal immigrants and hence involved in illegal activities. The other supplier is an oversees supplier who has been charged for operating a sweatshop or slave labor in parts of Asia. You talked with your manufacturing and marketing teams and they told you that if the company stop dealing with these two suppliers it will take 6 months to find, test and approve new suppliers. Since the company has a stock of 3 months only, that means that the company's stock will be out for 3 months and the company won't be able to supply customer orders. So far no one including the media noticed that these two suppliers work with your company. Your Group's Activity Your business group will brainstorm how the company will deal with this situation. As a group, decide what decision the company will take regarding dealing with these two suppliers. Your Group Report Write a brief report summarizing your group's conclusions and decisions. Consider the following points: • Identify the key stakeholders who are impacted by this situation. • What would be the communication plan for each stakeholder? • How you'll implement the decision you have taken.
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Stepbystep explanation Stakeholders are the suppliers suppliers source suppliers the buyer the compa... View the full answer
Related Book For
Business Law and the Legal Environment
ISBN: 978-1285860381
7th edition
Authors: Susan S. Samuelson, Jeffrey F. Beatty
Posted Date:
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