The Royal Mint: Ethics and Supply Chain Management Analytical Essay by scribbler

The Royal Mint: Ethics and Supply Chain Management
A critical examination of the ethics of the U.K. Royal Mint's supply chain management strategy.
# 152613 | 1,415 words | 5 sources | APA | 2013 | US
Published on Apr 01, 2013 in Business (Management) , Ethics (General)


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Description:

This paper explores the gross labor and environmental misconduct of the Royal Mint, the United Kingdom's issuer of coin currency, with respect to its copper and nickel mining operations in developing countries as Chile and Madagascar. The paper examines its supply chain practices and describes its exploitation of labor and resource that is causing unsustainable environmental and humanitarian collateral damage. The paper highlights the need for the Royal Mint to seriously reconsider its current and longstanding supply chain strategy and consider using alternate materials which do not levy so high a cost on environments and peoples.

Outline:
Royal Mint: Company Overview
Great Britain's Copper Import from Chile and Madagascar: The Supply Chain
Press Coverage and Ethical Issues: Labor in the Developing Sphere

From the Paper:

"The Royal Mint is the United Kingdom's issuer of coin currency and has been in operation in its current form since 1975. (Wagon, 1) Commissioned as a government trading agency by Queen Elizabeth in 1968, its roots actually extend as far back as the 13th century. (Biesheuvel & Larkin, 1) Today, the mint is one of the foremost purveyors of collectible coins and the national currencies for myriad governments. Therefore, Royal Mint has an important and determinant role in monetary affairs both in Great Britain and throughout the world. Indeed, where the Royal Mint functions as an economic entity, it has come to occupy a rather significant place in the policy schemes of the executive branch of British government. Accordingly, Wagon (2010) provides that the "UK Royal Mint produces coins that are used for daily transaction, exchange, and trading activities. It also plays an important role in generating profits for the British government. UK Royal Mint is a great promoter of the industrial economics by carrying out its roles of a manufacturer, employer, and exporter. Due to its very effective strategy, the UK Royal Mint has established very important position in the different mint bodies all around the world." (p. 1)"

Sample of Sources Used:

  • Biesheuvel, T. & Larkin, N. (2010). U.K. Royal Mint First-Quarter Gold Output Slips 50%. Bloomberg Businessweek.
  • Guardian Environment Network (GEN). (2009). Royal Mint Linked to Rainforest Destruction. The Ecologist.
  • McDougall, D. (2009). Britain's Dirty Money: How the Loose Change in Our Pockets is Costing the Earth. Daily Mail.
  • Royal Mint (RM). (2005). Royal Mint Annual Report 2004-2005. The Accounts of the Royal Mint Trading Fund
  • Wagon, J. (2010). The Various Roles and Responsibilities of UK Royal Mint. Article Directory Online.

Cite this Analytical Essay:

APA Format

The Royal Mint: Ethics and Supply Chain Management (2013, April 01) Retrieved August 13, 2022, from https://www.academon.com/analytical-essay/the-royal-mint-ethics-and-supply-chain-management-152613/

MLA Format

"The Royal Mint: Ethics and Supply Chain Management" 01 April 2013. Web. 13 August. 2022. <https://www.academon.com/analytical-essay/the-royal-mint-ethics-and-supply-chain-management-152613/>

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