Ethical and Socially Responsive Business
Bruce Carter
Principles of Management – MGMT 3101
Dr. Yolanda Ogletree
January 24, 2018
As legally required The Cheesecake Factory Incorporated has a Code of Ethics and Code of Code of Business Conduct. The Code of Ethics and Code of Business Conduct assures compliance with the Sarbanes – Oxley Act for companies whose stock is publicly traded. The Code of Ethics and Code of Business Conduct also assures the success of The Cheesecake Factory Incorporated. The implementation of the Code of Ethics and Code of Business Conduct is pertinent to being an ethically and socially responsive business. There are many key significant areas of the Code of Ethics and Code of Business Conduct. The first
…show more content…
The section C: Conflicts of Interest section deals with staff members refraining from conflicts of interests. Conflicts of interests show a lack of principles, responsibility, and respect for stockholders. A conflict of interest can be described as one’s personal interest getting in the way of the company’s interests. Types of conflicts of interest can vary. However, in this section staff are instructed to refrain from engaging in company business with relatives. Improper use of a staff member’s position with the company for personal of theirs or a relative is a conflict of interest. Any relationship with a customer, supplier, contractor, or competitor is a conflict of interest. Employment outside of the company with a supplier, customer, or competitor is a conflict of interest. The taking of a business opportunity belonging to the company is a conflict of interest. The reason this section is significant is conflicts of interest pose a threat to business operations. Conflicts of interest put the company and stockholders at risk of profit …show more content…
The first step to take is have the President of Company draft an annual letter to employees supporting the Code of Ethics and Code of Business Conduct. This will show staff a commitment to enforce the Code of Ethics and Code of Business Conduct. The next step to take is to implement an incentive program. Incentives like gift card or other rewards for those staff that follow the Code of Ethics and Code of Business Conduct will promote the implantation of it. Another step to be taken is a monthly staff recognition program. This program with recognize those staff that have gone above and beyond to enforce and implement the Code of Ethics and Code of Business Conduct. The top staff member recognized will be named the employee of the month. These steps taken will entice other staff members to follow
Additionally, AHIMA also compelled HIM professionals to avoid conflict of interest as they perform their professional obligation, which include the practice of unbounding to ensure the financial gains of the organization of their employment. Lastly, AHIMA compelled HIM professional to refuse to participate or conceal unethical practice or procedure of fellow employee, or organization, and HIM professionals are required to report such cases to the
Therefore, in the code of conduct for ethics violations, this kind of act should consider as an unethical
Communication: “The organization shall take reasonable steps to have and publicize a system, which may include mechanisms that allow for anonymity or confidentiality” (Kazmier 125). Monitoring and auditing: “The organization shall take reasonable steps to ensure that the organization’s compliance and ethics program is followed, including monitoring and auditing to detect criminal conduct” (Kazmier 126). Enforcement and discipline: “The organization’s compliance and ethics program shall be promoted and enforced consistently throughout the organization through (A) appropriate incentives and (B) appropriate disciplinary measures” (Kazmier 127). Response and prevention: “After criminal conduct has been detected, the organization shall take reasonable steps to respond appropriately to the criminal conduct and to prevent further similar conduct, including making any necessary modifications to the organization’s compliance and ethics program “(Kazmier
Reference: Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2015).Business ethics: Ethical decision making & cases (10th
Finally, incentivizing the efforts of workers can go a long way in reinforcing the code of conduct. Workers who are encouraged in one way or another tend to want to continue working hard and consider it their duty in observing the code of
BTEC LEVEL 3 DIPLOMA IN BUSINESS UNIT 37: Understanding Business Ethics Assignment Title: A Study of a selected company Learner’s Name: Maha Fatima Learner’s ID : 20156341 Submission Date: 16/3/2016 Task 1: This gives evidence for P1, M1 and D1 P1: The ethical issues a business needs to consider in its operational activities & M1: Asses how the business could improve the ethics of their operation (Merged) My selected company is NIKE.
His action did not demonstrate loyalty, trust or care to Alex and his investment for failure to disclose the immediate relation. Under this rule, Junior had an obligation to disclose the conflict of interest and a failure to do so only demonstrates poor judgment and care. According to the Fiduciary standards, the advisors must act by putting their client’s interest above their own and have a duty of “loyalty and care.” Junior’s brother asked him to invest some of his client’s money into his fund, and can be argued that he placed his brother’s interest above his client only to build his brother’s clientele. This only shows Junior having an interior motive for suggesting senior firm to his client.
Corporate responsibility to the environmentally friendly use of natural resources is another business principle that often is found in code of ethics. Management Support • Manager support of the values and principles may be documented in the code of ethics. Open door policies for reporting ethics violations can be included in the code, along with a process to anonymously report any code of ethics issues. To reflect how seriously management considers the code, some businesses display the code of ethics with management signatures in prominent areas, such as the break room, where employees will see it on a daily
Leadership and ethics Name Professor Course Date Some of the ethical issues that management may need to address include corporate social responsibility. This refers to the operation of a business or organization in a manner that takes into consideration the environmental and social aspects created by enterprise. It implies the commitment to create policies that include responsible practices in the undertakings of the entity. Corporate social responsibility policies serve as self-regulatory measures for the organization in monitoring and ensuring that it complies with ethical standards, regulations and societal norms.
The study’s main focus shows a direct link when an atmosphere of altruism, team work, social responsibility, and concern for the greater good. This results in a bigger commitment from employees. Thus, increasing productivity, increased creativity, lower turnover, and decreased unethical behavior from employees. Ethics of leadership directly impacts the organizational culture. The journal distributes unique, unpublished works identified with contemporary business and instruction moral issues.
Introduction In an incorporated company, the interests of shareholders are often at odds with the interests of other stakeholders. When making a decision under such circumstances, I will show that the business should balance each group’s interests equitably in order to determine how to act, as a result of a duty owed to each group for their contributions to the company. I will also critique some popular arguments in favour of the commonly held belief that a business should act primarily in its shareholders’ interests.
Training Program An effective ethics training program will establish the foundation of ethical conduct, adherence to governing laws and regulations, define clear expectations, and finally a mechanism for accountability. The training will incorporate company policies and procedures, major laws and regulations that impact the business, a training outline with handouts, a position description for the ethics compliance officer and the code of ethics (Anderson, 2015). This training program will be conducted for leadership first and then all employee attendance is mandatory. According to Anderson (2015), “With step-by-step guidelines and accompanying examples of policies, procedures, a training program and an employee survey, such an effective
Objectivity states that members must not compromise their professional or business judgement because of bias, conflict of interest or the undue influence of others. Providing misleading information (Langfield Smith, 2015). Providing misleading information and supporting Richard department will be considered to be unfair and bias. Priscilla should make decision that is in the best interest of the company and avoid any bias judgement due to her personal relationship with
For example, Mark, Hal, Brenda and Gail know about a substantial number of old stock and past due records. By eliminating this data which was found during the audit, would lead them to be part of the group to this unlawful action and dishonor the auditing profession. Brenda and Hal wish to deny these outcomes from Mark’s report to keep their rewards and the significant image of the association. Mark must pick whether to forbid results and abuse the Institute of Internal Auditing's Code of Ethics or conflict with his organization and report his findings. 2 The objectivity principle rule of conduct 2.1 violated that is “internal auditor shall not participate in any activity or relationship that may impair or be presumed to impair their unbiased assessment.
Code of ethics Code of ethics says or states the principal and expectations governing the behavior of individuals and organizations in the conduct of internal audit. Code of ethics is started by setting out the values that underline the code and will specify the company’s obligation to its stakeholders and employees and other people connected to the company .The code is publicly made available and addressed to anyone with an interest in the company’s activity and the way it does business. It will specify details of how the company plans to implement its value and vision as well as guidance to staff on ethical standard and how to achieve them.