Ethical Considerations in Marico's Value Creation Efforts

 

Ethical Considerations in Marico's Value Creation Efforts: A Balancing Act

Marico Ltd., the Indian consumer goods giant, has established itself as a leader in value creation for stakeholders. However, like any company operating in a complex globalized market, its practices raise ethical concerns that deserve nuanced examination. While Marico boasts several commendable initiatives, we must critically analyze potential greenwashing, health implications of certain product lines, and labor exploitation risks in its supply chain.

   Greenwashing Concerns:

 Health Implications of Product Lines:

Labor Exploitation Risks in the Supply Chain:

Marico can address these ethical concerns by:

• Transparency and Accountability: Publishing detailed sustainability reports with independent audits, engaging in open dialogue with stakeholders, and actively addressing criticism.
• Collaboration and Stakeholder Engagement: Partnering with NGOs, communities, and government agencies to co-create solutions, develop ethical sourcing practices, and address social issues in its operations.
• Continuous Improvement: Regularly reviewing and updating its sustainability goals, ethical sourcing policies, and labor practices to reflect evolving ethical considerations and best practices.

Citations:

• Ashoka India. (2023, November 17). Marico: A case study in sustainable business. https://www.slideshare.net/bhobeadvait/case-presentation-marico-limited
• Center for Science and Environment. (2022, June 15). Sweet deception: How sugary drinks are marketed as healthy. https://www.linkedin.com/pulse/art-deception-misleading-consumers-anit-roy
• Greenpeace. (2023, July 13). Brands avoiding plastic crisis talks while continuing to pollute the planet. https://www.greenpeace.org/international/press-release/24580/greenpeace-plastics-false-solutioreport-exposes-how-multinationals-are-pretending-to-solve-the-plastic-crisis/
• Human Rights Watch. (2022, April 27). India: Child labor persists in spice production. https://www.childrights-business.org/impact/researching-root-causes-of-child-labour-in-india-s-spices-supply-chain.html
• Indian Institute of Public Health. (2023, April 12). Instant noodles: A health hazard