Child Labor

ESSAY!

Assessm ent question Using three principles of the Global Business Standards Codex, evaluate the use of child labour in a global economy.

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Child labour is an issue that is acknowledged world wide. It is the exploitation of young children within the global economy. The use of child labour within the global economy breaches the principles within the global business standard codex (GBS Codex). The global business standard codex (GBS Codex) outlines various principles that relate to the fair and honest dealings of businesses with other parties such as suppliers and customers. The three key principles that are in breach are the transparency principle, the dignity principle and the fairness principle. !

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The transparency principle explores the businesses conduct in a truthful and open manner, whilst refraining from deceptive practices, ensuring to keep accurate records whilst providing timely disclosures of material information and respecting confidentiality and privacy as stated by Paine et al. (2005). The core terms of the transparency principle are honesty and respect. Within the global economy, the use of child labour is higher within third world countries for products such as clothing and shoes. kolk and Van Tulder (2002) outline 55 international business and stakeholder codes that provide an insight into how child labour issues are addressed within formal documents which are aimed at regulating corporate conduct. Within the codes issued for businesses and stakeholders the key focus is on the minimum age for employment, applicability as to weather the age limit is universal or country accepted exceptions, organisations targeted etc. The key issue to the increasing rate of child labour is the increase in poverty, within Pakistan it was estimated that there will be 10 to 20 million children workers by 2010 to 2011 however, recent research has showed that this estimation has almost doubled to 21 million children...