Introduction
A code of conduct applies to all staff including employees, vendors and board members and international staff. The code will help guide the ethical conduct within this company. Furthermore, the code reflects the integrity of this company and protects the reputation of this company. It is the duties of all staff members to follow these guidelines in the course of their work within this company. These guidelines reflect the ideas of the Americans with Disabilities Act, Equal Employment Opportunity Commission and all Civil Rights laws. Employees and staff alike that do not follow the Code of Conduct will be documented and proper discipline leading up and to termination will follow.
Core Values
Members and staff will act with integrity and respectfully.
Members and staff are to uphold the companies mission statement.
Members and staff will act ethically towards each other and upon making decisions that affect the company as a whole.
Members and staff are too reflect ethical and socially responsible behavior that the company wants to preserve.
As an international business, the integrity and objective of civil right laws will be demonstrated.
Guiding Principles
These principles are to help guide the decisions and actions of members and staff. These principals demonstrate the ideas and laws of the Americans with Disabilities Act, Equal Employment Opportunity Commission and any and all Civil Right Laws:
Members and employees are to adhere to the guidelines, laws and regulations of the Equal Employment Opportunity Commission, which is responsible for anti-discrimination laws (EEOC, Overview, 2014).
No employee or job applicant will be discriminated against based on their race, gende...
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...et because they prices would be high for inferior products. Still, a monopoly would has ethical responsibilities.
A monopoly will make quality products at a reasonable price for consumers within their market.
A monopoly will use sustainable practices in the production process of their market.
A monopoly will treat employees and members equally and fairly by following all ADA, EEOC and Civil Right laws.
b. Oligopoly is a situation in which a small group of firms control a market (Investopedia, Oligopoly, 2014). There are very few of these but there are a few that control certain markets, like the gas market. Oligopolies have responsibilities just a monopoly but they also vary.
Oligopolies should honor agreements on pricing of products with other firms within the market.
Oligopolies should have competitive benefits and pay for their workers.
When the word monopoly is spoken most immediately think of the board game made by Parker Brothers in which each player attempts to purchase all of the property and utilities that are available on the board and drive other players into bankruptcy. Clearly the association between the board game and the definition of the term are literal. The term monopoly is defined as "exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices" (Dictionary.com, 2008). Monopolies were quite common in the early days when businesses had no guidelines whatsoever. When the U.S. Supreme Court stepped into break up the Standard Oil business in the late 1800’s and enacted the Sherman Antitrust Act of 1890 (Wikipedia 2001), it set forth precedent for many cases to be brought up against it for years to come.
To differentiate monopolies from trusts, it must be said that single companies were able to form monopolies when in control of “nearly all of one type of product or service… [This] affects the consu...
This organization has been setting ethical standards and publishing the Code of Professional Conduct for the profession since the early 1900s. A Code of Professional Conduct is necessary for any profession to help maintain strict ethical standards. This organization is the basis of ethical reasoning in the accounting profession because of what the Code of Professional Conduct covers. The code is comprised of a preamble and six articles. The preamble and the six articles serve as a foundation to provide guidance and guidelines for accountants to overcome any emerging ethical issues with ease on a daily basis. The six articles’ purpose is to protect the public, investors, and creditors. The AICPA Code of Professional Conduct consists of: Responsibility, Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of
...iable above all the others. This principle is the framework of what the code of conduct is based on.
We all hear the term “monopoly” before. If somebody doesn't apprehend a monopoly is outlined as “The exclusive possession or management of the provision or change a artifact or service.” but a natural monopoly could be a little totally different in which means from its counterpart. during this paper we'll be wanting into the question: whether or not the govt. ought to read telephones, cable, or broadcasting as natural monopolies or not; and may they be regulated or not?
There is much controversy about what a ‘good’ monopoly is and what a ‘bad’ monopoly is. Monopolies can have a positive impact on the market. One example is the history of telecommunications. The American Telephone and Telegraph “consolidate(d) the industry by buying up all the small operators and creating a single network—a natural monopoly” (Taplin). It became easier and more convenient for consumers to communicate. This is an example of a ‘good’ monopoly. Louis Brandeis, counselor of President Woodrow Wilson, agreed. He said it makes sense for one or a few companies to own‘“natural” monopolies, like telephone, water and power companies and railroads” (Taplin). The keyword here: natural monopolies. Natural monopolies are different from most of the monopolies in the market place today. A natural monopoly “refers to the cost structure of a firm” (lpx-group). A monopoly is “associated with market power and market share in particular” (lpx-group). Natural monopolies make
A monopoly exists when a specific individual or an enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it. A monopoly sells a good for which there is no close substitute. The absence of substitutes makes the demand for the good relatively inelastic thereby enabling monopolies to extract positive profits. It is this monopolizing of drug and process patents that has consumer advocates up in arms. The granting of exclusive rights to pharmacuetical companies over clinical a...
The term monopoly has been defined Mankiw (2011) as the business, firm or organisation that “is the sole seller of a product without closed substitute” (p. 300). This simple definition uses term “product” in broad meanings, which includes technologies, research, processes and services (Coase, 2013). The research surrounding monopolistic market structures have argued that there are certain features ...
Ethics or rather morals entail mechanisms that defend, systematize as well as recommend conceptions of right or wrong. Many organizations develop ethical codes to ensure employees and employers understand the difference in doing good or bad. In that respect, ethics are an essential aspect of successfully running of any organization or government. Ethics ensure employee’s productivity levels are up to the required standards. It also assists them to know their rights and responsibilities. Additionally, employers, as well as any persons in management, are guided by them to ensure they provide transparent leadership. Ethics also defines how customers should be handled. Ethical codes govern the relationship between customers and an
By law a monopoly is not allowed to exist in the US. It has been long debated whether Microsoft is a monopoly or not? Among other charges Microsoft was charged with "monopolizing the computer operating system market, integrating the Internet Explorer web browser into the operating system in an attempt to eliminate competition from Netscape, and using its market power to form anticompetitive agreements with producers of related goods" (SWLearning).
Monopoly A monopoly is a situation where a company owns all or nearly the market for providing the services/ product. A market situation where one producer (or a group of producer performing in concert) controls supply of goods and service, and where the entry of new producer is not permitted or highly limited. Monopoly free to set the prices of the products if the government intervention is absence. Some it is considered bad thing even when it leads to a fair share of business opportunities amongst competitors.
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.
Well the bottom line is that a monopoly is firm that sells almost all the goods or services in a select market. Therefore, without regulations, a company would be able to manipulate the price of their products, because of a lack of competition (Principle of Microeconomics, 2016). Furthermore, if a single company controls the entire market, then there are numerous barriers to entry that discourage competition from entering into it. To truly understand the hold a monopoly firm has on the market; compare the demand curves between a Perfect Competitor and Monopolist firm in Figure
A monopoly is “a single firm in control of both industry output and price” (Review of Market Structure, n.d.). It has a high entry and exit barrier and a perceived heterogeneous product. The firm is the sole provider of the product, substitutes for the product are limited, and high barriers are used to dissuade competitors and leads to a single firm being able to ...
The organisation should also display ethical behaviour towards its stakeholders which is important for building long-term relationships with its customers.