Introduction
Gravity is a retail store specializing in high-end designer shoes. Within my business, I will incorporate a small winery, which will allow my customers the ability to enjoy some of the best wines the world has to offer. Since I am the only owner, my company will be viewed as a disregarded entity for liability purposes. My company will operate under the industries of retail/customer service and beverage management. I will offer both goods and services with outstanding products and services. My targeted market will be both men and women, middle class and higher, between the ages of 24-44, who are able to afford products such as: Balenciaga, Manolo Blahnik, Christian Louboutin, Yves Saint Laurent, and many other high-end designers.
Risks and Ethics
There are many risks owners take when opening a business, Gravity included. Due to Gravity being a high-end shoe store and winery, there is always the possibility that I will not meet my target audience, or bring in any customers. I could be spending more money on products, maintenance, and upkeep than I am bringing in. When dealing with customers, vendors, and employees there is the possibility that they could be stealing, or being unethical about the products I receive. Choosing the perfect location to start my business is also a risk, especially when dealing with high-end products. I do not want external theft to be an issue. Lastly, there is a chance that the market will not be suitable for my business. I have to make sure that I am buying from credible vendors, ensuring that the products I am buying are real and of good quality. The same goes for the wine vendors as well. I have to ensure that my employees have proper customer service skills. Furthermore, ethical consi...
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...ty’s Code of Ethics applies to all individuals who have a hand in the business whether directly or indirectly.
2. If individuals violate these codes, immediate action will be taken, whether it is suspension or termination. No one is exempt from following these guidelines, not even the owner of the company.
Gravity’s Mission Statement and Code of Ethics Applies to Everyone!
In order for the company to be successful, it requires teamwork and an extensive amount of effort. The company has high expectations for the business and its employees, which is listed in the Code of Ethics. Do the right thing and it will benefit you in the long run. These regulations are applicable to everyday life, and should constantly be taken into consideration when making day-to-day decisions.
Works Cited
"Pros and Cons of the LLC Model." Entrepreneur. N.p., n.d. Web. 20 Feb. 2014.
The ethical code of an organization illustrates the importance of being honest, acting with integrity, and showing fairness in decision making (Bethel, 2015). Ultimately, “laws regulating business conduct are passed because some stakeholders believe they cannot be trusted to do what is right” (Ferrell, Fraedrich, & Ferrell, 2015, p. 95). In the last couple of years, culture has become the initiator for compliance, which means from the top down there has to be a commitment to act in a way that represents the company’s core values (Verschoor, 2015).
has week chance to compute with rest of retailers which have strong tie with the society.
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
Team members who violate the standards in this Code will be subject to disciplinary action.
A code of ethics is essential in today business world, and customers honestly base a company’s reputation on these bases. Simply defined a code of ethics is a set of core values designed to help professionals manage a business that is honest and possess integrity. For example, a code of ethics document should highlight the mission and the values of a business. As well as, illustrate how professionals should approach issues, the ethical principles based on the company’s core values, and caliber to which the professionals are held. It is highly critical that a company like the Cheesecake Factory withholds an ethical and socially responsive code of conduct.
Code of ethics is to be utilized by AIHMA members, agencies, consumers, and others who choose to embrace it as a frame of reference. (AHIMA, 2014)
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...
To provide an example of a breach of ethical conduct in the workplace, we may remember the case of a financial manager in a corporation that decided not to pay overtime to some employees. After a deep outside investigation, the company was summoned with thousands of dollars to remedy the payment that was supposed to be paid to all employees who worked more than forty hours per week. Again, it is needed more than just a booklet stating that the company adheres to the code of business ethics. It is needed serious managers that can run the company with the most seriousness as possible. Consequently, any written codes of business ethics, regardless of how well it has been crafted, need people that adhere to its internal content with a serious desire to do the right thing.
This Code also contains guidelines to assist employees and directors in acting and making decisions on behalf of Knox consistent with these standards and avoiding conflicts of interests. No guidelines can be all-inclusive, however, responsibility for proper conduct rests with each Employee and Director. If you are faced with making a difficult decision or have questions about the applicability of the Code, you are encouraged to discuss the matter with your supervisor.
Kinky boots was a film based on a true story and was directed by Julian Jarrold in the year 2005. The film tells the tale of Charlie Price who allegedly inherits his father’s traditional Northampton shoe factory. As he sets up to start managing the business, due to his father’s untimely death, he discovers that the family business is in a lot of trouble and is falling apart. The shoe factory was known as Price & Sons factory and was four generation old (Thesource 2014). . The employees had an advantage over their competitors due to their vast experience and knowledge in the making of excellent top quality shoes but their market shares was negatively affected by the high price tag they placed on their shoes. Due to the economic crisis England was facing then, the shoes, although durable, were not affordable. The factory was greatly being threatened by the East-European shoe factories that were making less durable, cheaper, and low quality shoes (Schmitt,A. 2010). The East-European factories had a boost to their market as the people were in need of cheaper shoes. One night while Charlie was in London, he meet a drag queen by the name of Lola who, due to her weight, had to bear with wearing high-heel broken shoes. Once they met, Lola proposed on the creation of high-heeled shoes for the niche market of cross-dressers (Boots, Jarrold, Deane, Firth, Ejiofor, Edgerton & Potts 2014). .
When initially analyzing the Old World Wine Industry versus the New World Wine Industry, the differences are evident. Strong representations of this include factors such as size, production methods, brand equity, and production orientation. Through conducting an analysis using Porter’s Five Forces, one can clearly see the clear delineating factors between the Old and New World.
Having a code of ethics leads to improved employee behavior, which is a huge part of culture for a standard company. Because employees are the people who create value for the company, in which way, they need to have honest and candid altitudes to the company. Having a code of ethic is a useful tool to manage an organization’s values, responsibilities, and ethical duties. To make the codes work, companies must put the code of conduct into the business so that employees know how it applies to them. The code is also a way for employees to get advice about ethical problems or concerns. “According to the 2009 National Business Ethics Survey, eighty-nine percent of those polled felt management adequately discussed the importance of ethical conduct. Similarly, 2008-2009 Integrity Survey, published by KPMG Forensic, it was found that ethics programs, including codes of conduct, had a strong impact on how employees felt. Ninety percent of those surveyed who worked in companies with a code of conduct felt they were motivated to do the right thing. This compares with just 43 percent of people who work in companies without strong codes of conduct.” (NCARB) The code of conduct plays an important role in the business no matter
Ethics is the responsibility of each individual person, but starts with the CEO and the Board of Directors, setting the right tone at the top and moves down through the organization, including setting the tone in the middle. A company’s culture and ethic standards start at the top, not from the bottom. Employees will almost always behave in the manner that they think management expects them, and it is foolish for management to pretend otherwise (Scudder). One of the CEO’s most important jobs is to create, foster, and communicate the culture of the organization. Wrongdoings or improper behavior rarely occurs in a void, leaders typically know when someone is compromising the company
Tyco provides products and services across the world. The company is global and diversified providing a variety of products including electronics, healthcare, fire and security services and engineered products and services. While employing over 250,000 people worldwide they grossed approximately $40 billion in revenue in the year 2005. In 2002 Tyco was involved with the corporate scandal where the management mis-appropriated corporation funds. The previous CEO Dennis Kozlowski was convicted in 2005 on 22 counts of the 23 that he was charged with. This is an example of not only a legal issue of responsibility but also one of an ethical issue that the Tyco Corporation has had to face. In the face of the legal and ethical issues that this mishap had placed the corporation in, Tyco placed Ed Breen in as chairman and CEO. Mr. Breen joined the company in 2002 after the scandal and immediately began the rebuild of the company’s name. With the appointment of Ed Breen and his changing of the company’s ethical standards (to be discussed in the next portion of the paper) he promotes the legal responsibilities of not only the company’s employees but the responsibilities of the suppliers and buyers to report any wrong doing. This reporting also speaks to the ethics of the Tyco corporation employees as well as those of the companies th...
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