Write short notes on the following: (b) Ethical Consumerism.

CS Professional · Ethics, Governance and Sustainability · PYQS · December 2018
Write short notes on the following: (b) Ethical Consumerism.

Answer & Explanation:

'Ethical consumerism' is the purchasing of products that do not harm or exploit the workers who help in producing a product, and to minimise their impact on the environment. Supporting local industries that hire local artisans as designers, using cruelty-free cosmetics, shopping with reusable bags, drinking with a metal straw, or carrying a tumbler to reduce plastic waste – consumers now think about the ethical supply chain. Ethical consumer practices aim at the fulfilment of the objectives of socially responsible trade. Thus, in the global context ethical consumerism deals with the ethical and moral aspects of product value chain from production, i.e. sourcing of materials, down to retailing of the products. The ethical consumer ideal implies that individual consumers can have a significant role, through their daily purchasing decisions, in promoting ethical corporate practices. Ethical consumerism is the trend fast gaining popularity among new-age customers. It simply means that more and more customers are choosing to purchase goods that are ethically sourced, ethically made and ethically distributed; in short, make their purchase decisions based on perceptions created by following their product from inception, manufacturing practices, its motivations, and business model. As consumers express their desire for greener products, brands respond with the launch of more non-chemical, health-friendly and eco-friendly products. Eco friendly paints, pest control products, lighting, furniture and consumer electronics, among several other things, are the result of consumer preferences.

Topics: Ethics in Business

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