Trade and labour standards Dissertation Example | Topics and Well Written Essays - 15000 words

Trade and labour standards - Dissertation Example As such, in June 1998, the ILO Declaration on Fundamental Principles and Rights at Work was adopted. This development served to force the member states of the ILO. Another important outcome was that it was emphatically prohibited to employ labour standards for protectionist trade purposes. These principles and rights are first, freedom of association and actual recognition of a right to collective bargaining. Second, proscription of any form of compulsory or forced labour. Third, elimination of child labour. Fourth, prohibition of any form of discrimination, with respect to occupation and employment (Policy Brief. International Trade and Core Labour Standards, 2000). The ILO’s follow – up mechanism, in this context, is a significant development in its ability to address the difficulties arising from economic liberalisation at the international level. This system makes it possible to review the relevant progress made by the member states that have not ratified the core l abour standards conventions. A major supporter of this mechanism is the US which has made significant monetary contribution. The US has proposed a system that would assess the influence of international labour standards on international trade and the aims of the GATT (Grace, 2005). This US stance has resulted in the adoption of the basic labour standards of the ILO as the fundamental norms for worker rights. During the 1996, ministerial conference at Singapore, the US called upon the ILO – WTO cooperation to make themselves reciprocally supportive. In addition, it was also stated that there was an urgent need to promote a trading system that was non – discriminatory and transparent. Thereafter, at the 1999 Seattle ministerial meeting of the WTO, the US recommended certain explicit issues for consideration. Some of these were the relationship between social protection, core labour standards and trade; forced labour and trade; positive trade incentives; and derogation on account of trade from national labour standards (Grace, 2005). The extant standards relating to labour are not under the control of the rules and disciplines of the World Trade Organization (WTO). However, some member states of the European Union (EU) and a few nations of North America have expressed the opinion that the WTO should address this issue. It is the firm belief of these countries that such a course of action is indispensable for strengthening public confidence in the international trading system and the WTO (Trade and Labour Standards, 2011). It is the firm conviction of these nations that the WTO should pursue the denial of rights, such as the freedom to engage in collective bargaining, freedom of association, eradication of discrimination in the workplace and workplace abuse. It has been suggested by these countries that these issues can be brought into the WTO, by the strategy of constituting a working group to analyse the norms related to trade and labour (Trade and Labour Standards, 2011). This initiative is believed to better the conditions of all the workers of the world. Views relating to international labour standards admit of considerable divergence. Social and labour activists are seized with the inexorable increase of imports from countries that have scant

Diversification Strategies Research Paper Example | Topics and Well Written Essays - 1000 words

Diversification Strategies - Research Paper Example The company is among the foremost producers in majority of the markets where it operates in. The products manufactured by 3M are delivered through several distribution channels including wholesalers, distributors, retailers and dealers among others. As of 2010, 3M had 80,057 employees, out of which 32,955 were engaged in the business operations located in the United States and the rest globally. For the year ending 2010, 3M generated net sales equivalent to $ 26.7 billion which was a 15.3% increment from the year 2009. The operating income of the company also increased by 22.9% in the year 2010 as compared to that of 2009 (3M, 2010). Sears, Roebuck & Co. is amongst the principal retailers in the United States, functioning in all the fifty states of US in addition to Puerto Rico. The company has very limited global presence and operates internationally only in Canada. The company merged with Kmart to form Sears Holding Corporation in 2004. The total revenue of the company in 2010 was $43,326 million while that in the year 2009 was $44,043 million. The revenue value of the company in 2008 was $46,440 and had been decreasing over the years. As of January, 2011, the company had 280,000 employees in the US and around 32,000 in Canada (Sears Holdings Corporation, 2010). Although Sears, Roebuck & Co was always primarily in retail business, in the early 1980s the company had diversified into real estate as well as brokerage services through its subsidiary Allstate. However, post the diversification though the performance of the finance segment of the company was reasonable, the retail group of the company suffered as it failed to respond to altering times (Monks & Minow, 2008). Diversification Outcomes of the Two Corporations and Reasons for the Different Outcomes The diversification of 3M into its six different segments had produced positive outcomes for the company. 3M is recognized for its aptitude to produce new products and generate new businesses. It can be subst antiated from the fact that 30 percent of its revenue comes from products developed during the preceding five years. The company had time and again extended its existing technological proficiency to generate a comparable yet innovative product. 3M’s success can be attributed to variety of factors, such as a corporate culture that promotes risk taking, a focus on resolving client problems, the utilization of extended and long-term goals, and independence of the employees to follow their own ideas. Furthermore, 3M consistently follows the system of sharing technologies and expertise amongst the different business segments. It also pursues a reward structure that recognizes innovators in the organization. Thus, 3M had succeeded in diversifying its business by leveraging its technological competence (3M, 2011). The Sears, Roebuck & Co had been struggling since the past couple of decades, trying first one approach and then another, looking for sustainable growth and momentum and a n improved image. As discussed earlier, Sears had diversified into financial services and specialty retailing during the 1980’s. However, after its diversification into real estate and other financial services, Sears could not maintain its performance in