According to a recent report from research and reviews company Software Advice, most consumers would be willing to pay 27 percent more for a $100 product if ethical labor and materials were used in its production. For reasons like these, Heather Grossmuller sees the value in maintaining an ethical supply chain.
To define what being ethical means, she says such supply chains seek “strong adherence to strict labor standards, fair pay for the production of goods, observance of business’ effect on local and global economies, and the need for corporate citizenship and social responsibility.” There are four benefits to operating in this way. Firstly, it establishes a common vision and goal. Second, it encourages leadership, because efforts made at the top to be ethical will trickle down. Third, infrastructure will streamline as ethical practices are implemented. And lastly, legal compliance can be optimally attained.
You can read about these ideas in further depth at the full article: http://www.strategicsourceror.com/2014/10/the-unrevealed-benefits-of-ethical.html