Business Ethics and Code of Ethical Conduct
Introduction
A company’s code of ethical conduct governs the decision-making process and actions for doing business and self-regulation. Moreover, these codes give direction to employees by creating a public image of desirable behavior, healthier work climate, and reputation thereby helping firms to evade scandals. As a result, this document is useful in shaping the cultural expectations regarding the behavior of staff as well as acting as a marketing and PR tool for clients and business partners, who prefer doing business with companies that are serious about business ethics. The chief executive officer of any company should thus ensure that their firm enacts and follows an ethically and socially responsive code of conduct to spell out the appropriate behavior of employees towards other stakeholders. One of the companies that has strictly adopted and abides by its code of business conduct and uncompromising ethical standards is Ruby Tuesday.
Ruby Tuesday Code of Conduct
Ruby Tuesday is American restaurant chain that operates internationally in 755 locations under the flagship of American cuisine and casual dining. It was established in
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The workers would thus gain knowledge regarding the penalties and punishments following any breach of the code of conduct. The next step involves setting up a compliance department that would handle any disputes arising or code or conduct violation. This department would be tasked with monitoring and investigating the conduct of implicated employees to provide a fair verdict. The other step entails sanctioning the staff as a way of motivating them to comply with the code of conduct through positive sanctions. Consequently, the company should set clear penalties for employees who harass their
Ruby Tuesday opened its first restaurant in 1972 near the University of Tennessee’s campus. Almost 40 years later, the company has grown to roughly 800 locations across the United States and around the world and is comprised of more than 40,000 team members (Ruby Tuesday, n.d.). Ruby Tuesday’s mission is “Quality. Passion. Pride," and to uphold such strong values, it was compulsory that a code of conduct and ethics was established (Ruby Tuesday, n.d.). Key areas that our company focuses on are complying with laws, rules, and regulations- particularly harassment and discrimination. Confidentiality is also an integral part of our code of ethics. Appropriate steps will be taken to assure that
Companies that do not take steps to ensure appropriate associate conduct will be penalized by their constituents and erode public confidence in our free enterprise system” (Kroger, 2014, p. 1). Therefore, as one of the largest retail grocers in the country, they are sincere about their obligation to follow the law and ensure transparency in their operations. Additionally, their core values support the goal of maintaining an ethical workplace, which includes: honesty, integrity, respect, diversity, safety, and
The compliance plan should include a code of conduct. By establishing a code of conduct, the organization establishes a commitment to ethical and accurate coding practices that will follow all regulatory guidelines set forth.
When these standards are violated and then the violators are not cooperating with the investigation, sanctions must be placed. When employees do not comply with the standards required by the governing bodies, the employees are not only ruining the trust
The importance of having a code of ethics is to define acceptable behaviors and promote higher standards of practice within a company. The code should provide a benchmark for...
Hospitality Restaurant Training Center Code of Ethics The mission of the Hospitality Restaurant Training Center is to mentor and prepare disadvantaged adolescents in the vocational business of cuisine. The mission that Hospitality Restaurant Training Center has accepted in this corporation is to direct disadvantaged adolescents,Board Members,Shareholders and employees with honesty ,admiration and conscientiousness. Our corporation is dedicated to superior occupational codes of management, education and instruction. These superior occupational codes of management, education and instruction apply to all assistants,scholars,merchants,bureaucratic and administrative firms and business clients. The Hospitality Restaurant Training Center has acknowledged
Code of conduct Ethics is referred to the principles that guide a person’s behavior. A code of ethics is an established statue enforced and practice by small or large institutions. The central target is conduct business is a manner that people will be satisfied with their products or services. The individuals who run show must be able to make critical decisions evading influences or personal biases. Johannesen illustrates potential requirements and aspects every corporate’s code of conduct must follow.
Starbucks takes the standards of business conduct very seriously. Starbucks “support(s) the global business ethics policy and provide(s) an overview of some of the legal and ethical standards” (Starbucks Coffee) around the world and in every store they serve their customers. Another important factor is that Sta...
It is necessary for every leader or manager to become sensitized to diversity and fully understand how to effectively handle difficult and controversial situations. As a boss, one also needs to understand that they are calling the shots, not the employee. There are two types of disciplinary action plans, formal and informal. A formal disciplinary action plan benefits companies that exercise a centralized organizational structure, where decisions descend from one individual. The benefit of a formal disciplinary action plan is that all of the rules and regulations are evenly and consistently distributed among the employees. An informal disciplinary action plan benefits companies that exercise a decentralized organizational structure, where employee decisions are made by each individual department on a circumstantial
The purpose of the CMP is to solidify their organizational culture of integrity, ensuring that every person acts honestly and ethically in conducting everyday activities and making decisions. The CMP has three areas of focus: “The Compliance Management System, prevention of unlawful activities, and response to changes in regulations” (People 30). Throughout all departments are compliance teams that specialize in protecting the reputation of the company as well as individuals in the company through a process of “prevention, monitoring, and post-management” (People 30). Figure 1, below, is a graphic from the 2015 Samsung Electronics Sustainability Report, which illustrates how compliance management is incorporated throughout the organization (People
Nowadays, society is governed by the implications of rules and legal restrictions. All of these rules were created to uphold and maintain the idea of ethical and moral values. Even children growing up were taught by some very important codes of ethics at school. These lessons learned as a youth growing up carry over into adulthood, as an employee or manager. Managers and workers both follow a similar code of ethics within the work place. Today, as a management consultant, I am going to prepare a code of ethics for my clients as they have recently started a restaurant called Knox, it is important to have a code of ethics in every company for their employees and also a circular by explaining the purpose and benefits of a good ethics. And finally, a brief report on the steps of strategic formulation and implementation.
Introduction In the United States, managing a corporate image is a challenge because public scandals, allegations, regulatory fines, and imprisonments are common themes that involve Code of Conduct or a Conflict of Interest issue that is prevalent in a workplace environment. A Code of Conduct Handbook is a communication tool that describes and communicates its values and what an organization expects from management and employees’ (Healthfield, 2018). Greenberg and Baron (2008) expands the definition by including 1. Responsibilities of each employee (e. g., be respectful, perform well, etc.) 2.
Business Ethics are much more than the buzz word stories on late night news. The Corporate Social Responsibility of a company goes well beyond that. “Business Ethics are moral guidelines for the conduct of business based on notions of what is right, wrong and fair.” (Bellow, 2012). Individual backgrounds play a huge role in person by person code of conduct can vary from employee to employer. To help solve some grey areas in what is ethically correct, companies now make a code of conduct that is over everyone in the company. This code of responsibility helps employees have better understanding of what is required of each and every one of them. “Corporate Social Responsibility is a business philosophy which stresses the need for
Ethical behaviour is what all career people should aim to have. Not just the ethical attribute but exceptional behaviour with this regard.this is because in order to build a career, one must be governed by the rules of ethics to safeguard oneself and others. Ethics are essential in the workplace because a tough ethical code provides a non-threatening environment with high employee morale. The corporate social responsibility is important to everyone,therefore it should not be neglected by the employees and the organization. Ethics purely center on personal conduct. It involves personal choices that can make or break a person in the workplace or business. The major importance of having good conduct is to maintain a high level of respect not just for people but for the proffession. Most people who begin their working career have aspirations of excelling at their jobs and reaching the pinnacle of their profession while maintaining a sense of values; however employees often become blind with ambition and put aside their sense of ethics in order to obtain financial security and recognition for their efforts. There are many things that one can gain from having good behavioural ethics in the workplace. It will develop a discipline which will propel the work practices to a higher level and will help set a high standard. It will promote teamwork among the workersand will also buil...
According to David K.Hayes (2009) by using disciplinary system will also help the company stay out from legal trouble. Its requires the manager to be fair, consistent, and take a big responsibility on worker’s discipline. From that, its