We have seen the market of fair-trade is increasing by 25% per year, and from this statistics, we have projected that the revenue of WOU in 5 years will be £164794. Through long-term strategy, we are going to suggest WOU to join Fairtrade. We need to consider the process of application, audit and evaluation via Fairtrade Labelling Organization (FLO) in order to obtain Fairtrade Certificate from the certification authority FLO-CERT. In this way, we are investing our cost to boost the revenue of WOU in a cost efficient way.
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Great, this can contribute to the sustainability of the business of WOU.
ReplyDeleteA couple of questions: Will they need to re-design their processes to adopt international standards? Or is price the main driver of the production / sale?