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Date Benefits and Drawbacks of Fair Trade

Student's Name Instructors Name Course Code Date Benefits and Drawbacks of Fair Trade Fairtrade is an initiative that primarily aims at improving the living standards of producers and farmers in underdeveloped and developing countries Its central goal is to set prices for products avail credit financing services to producers and establish a sustainable buyer seller relationship Additionally the initiative helps in community development projects offer improved social goods as well as maintain fruitful worker organizations Fair Trade functions by certification process that requires producers and suppliers stick to established objectives Primarily the chief aim of developing Fair Trade revolves around providing an alternative high end market that will benefit impoverished producers and workers Through fair trade producers make socially and environmentally responsible products Moreover producers benefit from loans extended contracts and relatively reasonable prices intended to make them more financially stable Through Fair Trade cooperatives and communities people receive premiums accordingly Notably some non Fair Trade local farmers and producers benefit from heightened buyer competition due to causal sequence The initiative provides numerous opportunities for manufacturers to maximally utilize organization resources necessitated by organization capacity building management of stakeholders relationship a useful organization of internal and external environment and satisfactory accounting practices In fact Fair Trade organization members develop resilience to external shocks and gain the confidence to deal with specific situations Ideally Fair Trade enables producers and farmers make considerable income at the lowest cost of production Also these initiatives market products to local and expansive markets that poor producers or farmers could not reach In essence they produce a small niche market for producers who enjoy more of the final retail price of their merchandise

2 pages | 553 words

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