Fair Trade: An Industry Analysis and the Future of the Music Industry In UK - Coursework Example

Fair Trade: An Industry Analysis and the Future of the Music Industry In UK TABLE OF CONENTS 0 Introduction 2 2.0 Analysis of innovation 3 2.1 Choice/control 3 2.2 Convenience 4 2.3 Community 4 2.4 Compatibility 6 2.5. Completeness 7 2.6 Coolness 8 2.7. Cost 8 3.0 Environmental analysis 8 3.1.0 PESTEL 8 3.1.1 Political 8 3.1.2 Economic 9 3.1.3 Social 9 3.1.4 Technology 9 3.1.5 Environment 10 3.1.6. Legal 10 3.2.0 PORTERS Five Forces of analysis 10 3.2.1 Competitive rivalry 10 3.2.2 Power of buyers 11 3.2.3 Power of suppliers 11 3.2.4 Threat of substitutes 11 3.2.5. Threat of new entrants 11 3.2.6 Comparative industry structure analysis 11 4. Risk Analysis 12 5. Ethical issues 12 6. Main Analysis and findings 12 7. Conclusion 18 8. Recommendations 19 9. Annexes 20 9. References 23 Fair Trade: An Industry Analysis and the Future of The Music Industry In UK 1.0 Introduction Fair Trade makes a powerful case for how innovation brings forth a model that shifts innovative practices that were unthinkable before. This organization has transformed an innovative idea on how to help producers in developing countries make better trading conditions and promote sustainability. This report is based on external, industry and brand analysis of Fair Trade in the UK market. Theoretical frameworks of PESTEL and Porters analysis have been used to make an effective structure of the external and industry analysis. The study had referenced resources from academic journals and business articles as well as from organizations involved with Fairtrade such as Fairtrade Foundation and Fair Trade Resources. The Fair Trade Organization. The World Fair Trade Organization (WFTO) is a global network of over 450 organizations and individuals in 73 countries across Africa, Asia, Europe, Latin America, North America and the Pacific Rim, representing millions of artisans and farmers, most of whom are indigenous people, physically-challenged persons and women. The Fair Trade Organization advanced 10 reasons to buy fair trade products. These reasons served as their guiding rule and mission in their advocacy. See Annex 1. 2.0 Analyze the innovation. The main idea of innovation is to introduce something new, like a new idea, a method or a device. Peter Drucker’s theory of innovation states: “Innovation is the specific instrument of entrepreneurship… the act that endows resources with capacity to create wealth” (Philipp). Innovation is intended to make the product more acceptable and profitable. But before innovation is done, there are seven measures to determine the innovations’ success. These are: choice/control, convenience, community, completeness, compatibility, coolness/communication and customers ‘cost. Following these descriptions, questions to be answered with regards to the measures are categorized as to 7 Cs. (See Annex 2.) 2.1 Choice/control Customers face decisions on what to choose from the array of similar products. More often, they choose on the basis their perception and needs for their product. According to Philipps, a leading innovation expert, choice and control are keys to the success of an innovation. Choice is the powerful tool of the consumers that keeps businesses always alert and innovative in keeping track of their demands. He said today, consumers are more demanding, they will refuse to accept product that are sub-standard, low quality or highly priced. On this, it could be said that choice and control goes together because consumers expect that business will provide them with more choices and not be able to control their lives. Fair Trade provided the consumer more choices by improving the process of making a choice through recommendations. It has designed a process to discontinue the fragmentation based on demand for products and services that is tailored to specific needs. Fair Trade products are differentiated from the standard products because of its declared mission and vision that looks into the health and safety of consumers and to help raise the standard of living of is producers. Consumers will find out if product is produced by Fair Trade because of product labels that are certified by a third party. For instance, product labels include messages such as “Fair Trade Certified”, Fair for Life social & Fair Trade certified and membership in associations like FTF and WFTO. 2.2 Convenience Business marketers should put in mind the idea of convenience to customers, and it should imagine if the innovation would provide customer convenience than what it was before. Convenience is defined as “suited or favorable to one’s comfort, purpose or needs, it is easy to reach, accessible and close at hand” (Free dictionary). But convenience is put differently by marketers, as it is interpreted as convenience in packaged goods and time saving device. Fair Trade products according to Fair Trade Resources are convenient to find through on line sites and retail outlets. 2.3 Community Fair Trade took advantage of the community to design a new approach of marketing. As developed by Philips, the idea of communities becomes a significant motivation for innovation. He recognized that it is difficult to change behaviors and encourage people to switch products and services and that it requires a length of time for people to learn of new products and services unless the product offered is something of better significance and alternative to existing ones. Given this, the use of community as a change agent for innovation can reduce switching barriers for new products and services in two factors: A community demonstrates that other people have made the change successfully A community become an advocate for the innovation. In this sense, it has been argued that for an innovation to be successful, a community must form around the need or the solution. Fair Trade used the community approach as a market strategy to reach the producers and the target market. This approach makes the community as partner in the marketing endeavor. Gary Harnel, a business strategy expert, in his, The Future of Management, said, “in a community, one becomes a partner for the cause, and dedication and commitment is based on the one’s affiliation with the group and goals” (Philip). On this, loyalty and commitment is differentiated because loyalty is driven by economic dependency while commitment is determined by the norms, values and “gentle prodding of peers. Fair Trade is not for agriculture and trade alone because as early as 2010, it has embraced innovations for the music industry. For example, an innovative approach in the music industry has been inspired by the Fair Trade concept, and has worked conveniently for the Off the Charts and Reshape-Music. As a community, the organization works together to get fairer deals for bands and acts around London. The organization gives the band an opportunity to be exposed to industry professionals in top London venues while receiving a fair pay. As a community based organization, Reshape-music, launched in October 2010, also gathers artists and music lovers toying on the concept of fair-trade. Its main purpose is to reshape the rules by launching new artists that are considered marginalized by the music industry. 2.4 Compatibility  Customers trust that manufacturers produce quality standard products and any innovation must subscribe the standard set by regulations. Innovations require challenging the standards set and face tremendous risk in terms of adaptability and acceptance, but would be financially rewarding when it becomes successful. Compatibility, as defined, is the ability of two or more systems or their systems to work together without user intervention or modification (New Business Dictionary). The term compatible is often times thought of as a technical domain, such compatibility of the hardware or software to the internet connection; but it differs significantly when the term is used in business. In business, the term relates to benefits and costs of change. In this context, compatibility is thought of as the willingness of the customers to change if the benefits of new innovations outweigh the benefits of the former products. Compatibility has been designed differently in Reshape-music Fair Trade. It showed a complete innovative approach such that users are encouraged to subscribe in advance to the albums of the artists they like. In exchange of their subscription and the amount they give to support the artist, they have the chance to receive a limited edition of the albums especially made for the community, in the format they want, or other advantages like having their names in the special thanks section of the album or access to back stage during performances. To show compatibility in the community approach, users are often consulted to provide advice when production of the CD or album starts. Community is directly involved as partners as they directly contribute to the artists’ album. According to Caly (2010), €25,000 has been collected through subscriptions. These funds are used for CDs and vinyl’s printing, promotions and publication cost. When the album is launched, artists keep 100% of production rights. McCartney (2011) showed another example of innovation in the music industry using model of compatibility and Fair Trade when he cited that Indie bands thrive with Fair Trade Music Sharing. The proposal of sharing as noted is to give the music for free, but there is a ride in the proposition. In exchange of the free download, user must tell 5 friends about his work. The idea is that music is often discovered through word of mouth and recommendation of a friend or trusted resource. The result of this strategy is spike of sales and concert attendance of Derek Webb, the artist who started the concept. 2.5 Completeness When a product is introduced in the market, It should come out as a whole product and makers should not assume that consumers are ready for the innovation. To Philip, innovation is a complete product offering, whether it is a product or service offering, manufacturer must consider all the aspects that a customer expects. For example, when it is a product, a manual, warranty or support activity may be included, and for service, 24 hour service, language supports are among those expected by a customer. 2.6 Coolness. People become attracted to the product because it is trendy, and it provides a new experience of meeting people in the performing arts in live theaters. 2.7 Cost. The cost of the product is two-pronged. Manufacturers view it on the point of profitability, the cost and benefit of its production, while consumers view it as cost of purchase and the benefits it gives to them. The underlying question here is what the manufacturer can do to make it easier for customers acquire their services or product at cost advantageous to customers. In terms of costs, study shows that fairly traded crafts do not cost more than other traded goods because the percentage of middlemen are eliminated. Cost remains the same as traditionally traded goods, but here, more of the sale price goes to producers. In some cases, too, according to Fair Trade, quality is higher because of their focus on the environmental cost of production. For example, Fair Trade traded coffee is often organic and shade grown; that result to a higher quality coffee. 3.0 Environmental analysis 3.1.0 The PESTEL model of analysis is based on the following factors: political, economic, social, technological, environment and legal. PESTEL is a framework of reference that allows the organization to review factors from each group and assess how they impact business whether it is in a negative or in a positive way. Using these descriptions, the factors are defined as: 3.1.1 Political - Political factors that affect business are the government policies concerning environment regulations and protection, taxation, international trade regulation, consumer protection, government organization/attitude and employment law. 3.1.2. Economic - the economic environment is typically linked with macroeconomic variables such as economic growth rate, interest rate, inflation rate, employment rates and exchange rates. These variables which might be general in scope give a reflection of the external environment influencing business. 3.1.3 Social. Generally, social factors that influence the external environment of business are demographics, class structure, education, culture spirit, entrepreneurial spirit, and attitudes. Some examples are discrimination, population and culture. Overall productivity of a country will suffer if certain groups of people are discriminated upon. In the music industry in UK, the marginalized sector in the industry is the new and up-coming artists, bands and cultural diversity who do not have the capability to reach professional level, not because of lack of talents but because they are not rightfully exposed. 3.1.4 Technological refers to technological developments and its impact to the product offerings. If a company fails to keep up with technological innovations, soon enough it will be left behind by competitors. 3.1.5 Environmental – Environmental factors refers to the perceptions of change in the ecosystem and is linked with social and economic variables. This will not be used in the analysis of the music industry. 3.1.6 Legal – Legislation for the economic sphere comes in the form of regulation for markets, industries and national economies. More recently, The Digital Economy Bill that has long been awaited by the music industry and hopes to “reduce illegal downloading has been passed. 3. 2.0 Porters five forces Porter’s Five Forces framework is a practical approach to analyzing the forces in the external environment and then relating this to the structure of an industry. This model allows the firm to understand the industry context in which it operates whereby strategy can be formulated. The diagram above illustrates how external factors can affect the industry. Descriptions of barriers are defined below. 3.2.1 Competitive rivalry. The rivalry among companies is considered high when there are many equally or small sized companies in the industry, and it is said to be low when there is a leader in the industry. Other factors that act as barriers to competitions are the high industry costs; degree of differentiation, switching costs is high, when competitors are pursuing aggressive strategies and when the cost of leaving the industry is high. 3.2.2 Power of suppliers. The power of suppliers is said to be high when the cost of items bought from them have significant impact on the industry. It is said to be high when there are many buyers and very few suppliers, there are undifferentiated high valued products, and suppliers do not consider the industry very important. 3.2.3 Power of buyers – High. A buyer here means the people who create demand for the industry. The power of buyers is high when there are few dominant buyers and many sellers, products are standardized, the industry is not a key supplying group for buyers, and buyers threaten to integrate backward in the industry. 3.2.4 Threats of substitutes – The presence of substitute products lessen the attractiveness of the industry and the threat depends on the willingness of the buyer to substitute, the comparative price and the performance of the substitute, and the costs to switching to substitutes. 3.2.5 Threat of new entrants. Companies may find the industry less attractive if there are too many players, or the industry is already crowded. Their entrance is barred by the capital requirements, switching cost of buyers, economies of scale, there is difficulty of access to distribution channels, and there is a likely retaliation from the existing 3.2.6 Comparative industry structure analysis. Ratio analysis is a tool that could be used to compare the performance of the company to the industry average. Ratio analysis gives one an idea of how the company performs when compared with competitors and in the industry within the company operates. Comparison through ratio analysis presents the strengths and weaknesses of the company and becomes a benchmark for decision. Most common ratios are return-on-equity, debt-to-equity ratio, profit margin, price-to-earnings, and earnings per share (Barker, 23 Aug., 2010) 4.0 Risk analysis. For purposes of this study, risk analysis will be defined in terms of business. Risks business analysis involves identifying the critical business functions within the organization determining the impact of the business function is not performed in accordance to the acceptable outage. According to Wold and Shiver, the types of criteria that can be used to evaluate the impact include: customer service, internal operations, legal/statutory and financial. For instance, a disruption of the automated system in a business could cause severe losses for the company. A lot of things depend on the preparedness of the management to respond to potential disasters and its ability to develop a plan to minimize disruptions of critical functions of the company and its capability to recover operations expediently and successfully. 5. Ethical issues. Ethical issues arise from the self-interest of producers and consumers that result to undesirable outcome. There are many ethical issues of an industry, but the study is concerned only with those ethical issues in the operations of the business. For instance, there are ethical issues that cover treatment of customers, discrimination in employment, the loyalty of the company to its employees in times of economic stress, working conditions of workers, bribes to secure contracts, child labor and business practices of supply firms. 6. Main analysis and findings Our Product is the music industry. Decline on retail value of recorded music fell by 6% in 2007 while revenue on live performances grew by 13% on the same period. Innovation success as measured by the C factors showed factors that could be used as benchmark for improvement Product Type Choice/ Control Convenience Community Compatible Coolness Completeness Record music Physical Offered More choices and control Can be bought at any convenience store Enthusiasm decline No innovation Wear-off, file sharing lessens attractiveness Requires less work in downloading, ready to play Live performance Service Limited to what is available Effort is needed to watch shows. Few places to watch Enthusiastic community; Created a Marketing outlet /sponsor Created a new standard of performance Attracted viewers because it is live People are drawn to completeness of presentation These factors can work alone and can also work in harmony with the rest of the C factors. In politics, governments do not have unilateral trade policy but considers blending trade policies in various ways such as adhering to Free Trade Agreements. Fair Trade follows regulations of existing organization that seeks consumer protection and fair treatment of workers. Fair Trade advocates on the wages and conditions of labor in developing markets as differentiated from Free Trade that emphasizes reduction of barriers between countries (Gilkin, 2011) UK has existing bilateral agreements with foreign governments such that international trade regulations are always observed. Economically, UK had not been spared of threat of economic recession because in 2009, it had a deep retraction that ended its 16 year macroeconomic growth. However, in 2011, the GDP of UK had expended by 0.50 percent. From 1955 until 2010, UK had an average quarterly growth of 0.59 percent. UK has remained to be among the world’s most developed economy. (Trading Economics, 2010) In the music industry, economist admits that the music industry in UK is getting bigger and not smaller. Page, W. (2009) observed that while retail product sales have declined, the other part of the industry has grown more than the decline in retail sales. His analysis showed that attendance in live shows has increased more, and on that basis, consumers have spent more for the music industry. Aside from that, a new and profitable side of the music industry has opened up and provided a lucrative means of making money, i.e. sponsorship, licensing, advertisements, etc. The status of the music industry in UK as of 2008 is shown in Fig. 2. Taken from the research of Page, highlight of the UK music industry showed the following growth: The UK Music Industry was worth £3.6bn ($5.9bn USD) in 2008, up 4.7% on 2007.  Combined business to consumer revenues (live industry and recorded music retail) grew 3%, making up 75% of total industry value; More complex business to business revenues (from collective and direct licensing, advertising, sponsorship) grew by 10%, reaching £925 million and contributing 25% of total industry value; This report highlights the importance of diversification, or finding new places and new ways to generate revenues. By understanding the ecosystem, it enables more cooperation to grow the market going forward. Going to social factors, UK corporations have shown concerns in social corporate responsibility as latest benchmark index ratings showed an average rating of 67.82 percent which falls in the third quintile. UK corporations that participated in the survey were grouped into quintiles, the first quintile companies got score of over 82 percent, the fifth quintile companies all scored 52 percent, and the rest somewhere fell in the middle. According to Baue (2003), who quoted the Chairman of the Business in the Community, Mr. David Varney, "The companies that do corporate responsibility and do it well . . . perform better economically, have a better sense of innovation, and theyre more in touch with the communities in which they live," said Mr. Varney. In the music industry, social factors found to be affecting the music industry is discrimination that sets new artists and bands marginalized relative to professional performers. In technology, some of the technical problems facing the music industry in UK are the digital technology, labels, on line platforms, internet revenue models as well as social media, digital marketing and brands. Music organizations have organized themselves to find solutions to the industry problems. As to environment, a lot of attention is given on sustainability development of the environment such as the commitment of the European Commission to support Fair Trade pronounced during the 5th Brussels Development Briefing on April 16, 2008. The EC said that it will not regulate Fair Trade as “it is not beneficial or appropriate, but can support the provision of information on these schemes both for consumers and producers as a way to improve the marketing function. Industry analysis. This section utilizes the model of Porters competitive analysis to analyze the strength and weaknesses of Fairtrade organizations. It is assumed that the target market of the study are the music consumers who patronize record labels, live bands, concerts, advertisers and sponsors of fair-trade music. Threat of new entrants. Fairtrade brand is strongly differentiated from products that do not fall under its category. It is different because its strategy of business is derived from its mission that principles of accountability, transparency, cooperation and respect for human labor are integrated into production, trade and consumption activities. Fairtrade has a strong control over its distribution channels as it has to be certified by Fairtrade organizations where they belong. Music selling by means of Fairtrade does not benefit from economies of scale as these are small-scale musicians who belong to the marginalized artists and performers of the sector. Investors find this market unattractive because of decline of record sales due to numerous problems of the industry. Threats of substitutes – Pursuant to the Fair Trade practices, there are very few substitutes for Fair Trade certifications, and lesser indications of willingness of buyer to substitute. Substitute products of record labels could come from piracy, downloads and file sharing that is common in records, but there is no foreseen substitute in live performances and other areas of income that indicates growth in the music industry. Bargaining power of buyers – There is no threat from the bargaining power of buyers as buyers purchase ticket for shows and music records only in small quantities. This suggests that the budget of consumers for music and entertainment is only a small portion of their disposable income and therefore has a low bargaining power. Bargaining power of suppliers. The power of suppliers is low and not significant as Fair Trade policy assures artists receive a fair pay for working with professionals. The organization works together to get fairer deals for bands and acts around theaters in London. The switching cost for suppliers is high because they could not get a fairer deal from other organizations and they could lose their benefits from being a member of the Fairtrade organization. As it is, the artists and bands do not have the capability to retail their talent and is therefore forced to use the retailing arm of the Fairtrade organization for music. Threat from rivalry. The rivalry here are those coming from different organizations portraying the mission of Fairtrade brands. As an example are the organizations set to promote artists’ welfare in UK like the Off-the-Charts and Re-Shape Music in London. There are not too many of these organizations so it could be concluded that threat of rivalry is low. The music industry in UK has forged partnerships with music industry associations to foster music business innovation. For instance, Scotland in partnership with the Scottish Music Industry Association (SMIA), Inner Ear and Radio Magnetic Present: Music Business Innovation joined the industry convention in Glasgow to explore the digital future of the music industry. Risk analysis. Political stability of a country is always the first concern of investors as well as the population. In 2011, Economic Intelligence Report assessed the stability of UK with a rating of B grade and score of 24 where E is the most risky and 100 is most risky. This assessment suggests that UK has a relatively low risk index taking into consideration of the global economic crisis. This risk index is perceived as having a stable political environment for the Fair Trade Products. UK is a member of different international organizations; as such free trade agreements are established between the countries that support fair trade policies. Ethical issues. Ethical issues covered in the analysis are discrimination of marginalized artists, working conditions and pay. Ethos of Fair Trade is to allow producers to get fair price for their product to improve living their living standards and provide more opportunities. In Britain, report of Mowani (2011), said that people puts ethics before cash. Report said that there is 40% increase in turnover of fair-trade goods making Britain the world’s largest consumer of ethical good’s range. Sale of fair-trade goods in 2010 went pasts the £1bn barrier. This increase of patronage of fair-trade dispels the notion in UK “that economic pressures would not let consumers put their money in their mouth in relation to buying fair-trade goods”. Added to this, is the reported increase of revenues in the music industry as earlier discussed. 7. Conclusion Analysis showed innovation assessment factors that should be addressed by fair-trade for sustainability. In the innovation success, record music is more convenient to buy and there are more choices. However, the product did not offer innovation such that it is overtaken by developments elsewhere. Live shows took advantage of the sales decline of records and proved to be innovative in terms of approach. Live shows revenue has increased, but the long-term sustainability of this approach is doubted. PESTEL analysis showed stability in the political system; economic system shows growth, and businesses show social corporate concerns. Technology is forward looking for development through cooperative efforts, while environment concerns are addressed through support of the government. Problems that remain to be unresolved are piracy in the music industry and technological development that will need cooperative effort and study of Fairtrade organization and its affiliate members. Risk analysis show UK is a low risk country, stable politically and economically. Corporate social responsibilities are defined by businesses when it comes to ethical conduct, while performance in fair-trade are governed by the international trade regulations rules of its federation. Industry analysis shows strength and weaknesses. Using Porters framework model of analysis, the five factors used showed low barriers on all aspect. The threat to new entrants is low, threat of substitutes is low, bargaining power of buyers of suppliers and buyers are low and threat to rivalry; all low indications. In summing up, fair-trade organizations have succeeded in imposing innovative marketing practices that put importance to producers. In the music industry, fair-trade music innovations bailed out the ailing industry and have put back the music into charts again. Politics and economy have been supportive in the short run initiatives; future developments has yet to be designed as ultimately, the choice of consumers which is limited, will be followed. Recommendations Analysis showed that Fair-trade live performances enjoy high level of revenue as compared with record labels. Fair-trade should approach this with caution and should study positioning as there are limitations of choices, compatibility, and convenience. Recommendation of the report is to address these limitations to inject more enthusiasm from among the customers. From report of growth of revenues in live performances through fair-trade practices, it could be discerned that people respond to CSR consciousness and marketing innovations. Analysis also showed consumers respond to small purchases provided by music fair trade. The recommendation here is that Fair-trade music should commit to continuing their music product as fair-priced, well-paying to suppliers and emphasizing value through continued technological development to cut piracy problems. Annex 1. 10 Reasons to buy Fair Trade 1. Fair Trade means fair pay and working conditions for vulnerable farmers and producers. By choosing Fair Trade, consumers support safe and healthy working conditions for farmers and artisans and create just economic opportunities for marginalized producers 2. Fair Trade encourages sustainability By using eco-friendly farming practices or raw materials found in nature or recycled, Fair Trade supports sustainable practices that minimize our environmental footprints. 3. Fair Trade protects children Local managers uphold children’s rights to security, education and play. Business respect and support local laws and social norms, and disclose the involvement of children in production. 4. Fair Trade empowers marginalized workers. Farmers and artisans gain access to low-cost, advanced capital, as well as opportunities for building their technical and business skills. 5.Fair Trade is safe Fair Trade actively promotes integrated farm management systems that improve soil fertility and preserve valuable eco-systems and limit the use of harmful agrochemicals that present dangers to farmers’ health. That means food that’s safer you and the farmers who grow it. 6. Fair Trade supports communities By working through cooperative structures, Fair Trade artisans and small farmers who are able to invest Fair Trade earnings in their communities, improving housing, healthcare and schools. 7. Fair Trade is trade farmers and artisans can count Fair Trade is committed to strengthening direct, long-term partnerships between buyers and producers, These partnerships provide an avenue for buyers to purchase quality products from people they trust and offer a sustainable and reliable way for farmers, artisan and their families to improve their livelihood. 8. Fair Trade connects you with other cultures. Fair Trade products are unique to the places they come from and the people who make them. Farmers and artisans are involved in the entire process, and Fair Trade products reflect the people and cultures they come from. 9. Fair Trade means sustainable local economies. Fair Trade gives farmers and artisans control of their own future. They can build their own business, rather than work for a middleman, and the profits stay in the communities and go back into their business. 10.Fair Trade means what you buy matters By choosing Fair Trade Products, you are not only accessing high quality products, you are making a difference in the lives of the people who grow and craft the products. Annex 2. 7Cs framework for innovation success References Baue, William. 13 March 2003. New UK Index Rates Corporate Responsibility Performance. Viewed 27 April 2011 http://www.socialfunds.com/news/article.cgi?sfArticleId=1062 Cally, Jeff. 2010 Re-shape music, when Fair Trade meets music Viewed 27 April 2011 Economic Intelligence Unit. 07 Feb. 2011. UK risk. Political stability risk. Risk Briefing. http://www.eiu.com/index.asp?layout=RKArticleVW3&article_id=987792083&page_title=Article&rf=0 Exile Management. Off the Charts – Fair Trade Music in London. Viewed 27 April 2011 http://www.facebook.com/pages/Off-the-Charts-Fair-Trade-Music-in-London/311456342584?v=info Fair Trade Resource Network. Basics of Fair Trade. Viewed 27 April 2011 http://www.fairtraderesource.org/ Free Dictionary. Convenient definition. http://www.thefreedictionary.com/convenient Gilkin, Jason. Free Trade vs. Fair Trade. Chron. Small business. Viewed 27 April 2011 http://smallbusiness.chron.com/trade-vs-fair-trade-1683.html Mawani, Brushi. 28 Feb. 2011. Britain puts ethics before cash. Go fair-trade!. Industry Leaders Magazine. http://www.industryleadersmagazine.com/britain-puts-ethics-before-cash-go-fair-trade/ McCartney 2011 Indie bands thrive with music sharing. Viewed 26 April 2011 Read More