By creating this system, both the shareholders and the CEOs are happy with their
Ethical misconduct is nefarious, and its prevention demands periodic introspection of policies and procedures to ensure a safe and distinguished work environment. The potential repercussions of merely one employee’s ethical infraction are severe and include legal issues, damage to reputation, and a diminished bottom line. This essay overviews Chipotle Mexican Grill’s code of conduct and describes methods to ensure adherence thereof; further, this piece depicts the potential advantages that social responsiveness programs could grant if properly implemented. The growth and prosperity of Chipotle Mexican Grill demands steady emphasis on ethical behavior and social responsiveness programs to remain on the leading edge of our industry.
Costco has built a reputation of being a caring corporation1 with a low cost structure in the discount services sector. Their founder, Jim Sinegal, believed in building a business on strong ethics while offering a wide selection and great value. Costco’s vision is expressed in its code of ethics which contains five key tenets by which the company operates: Obey the law, take care of our members, take care of our employees, respect our suppliers & reward our shareholders.2 With this vision Costco has built the third largest retailor in the United States. By looking closely at the code of ethics it becomes possible to see it has built in strengths and weaknesses.
I have been spending $200,000 on this course for which I do not have a clear goal. Meanwhile, my mental account for the utilitarian products has been working very strictly under the economic estimation. For example, when my wife and I considered whether we make water from the purifier or buy it, I priced a lot of options: 1) Costco has the cheapest price (7 cents/40ct bottle) 2) The cost of boiling water and filters of purifier My conclusion was that we purchase the 48 bottle pack from Costco, and it took a very long time for the calculation and discussion.
A bigger problem is that Costco’s primary market of upper middle-class suburbanites is aging out, and their kids are moving into smaller city dwellings, often without cars. The same efficient marketplace that led to its success is killing the sales and middle management jobs it needs to keep selling.
My organization is Wal-mart supercenter a major retail chain that has stores across the globe and services millions of customers every day. Where I have work for over a decade and after doing the cultural ethic audit, which have resulted in nine yes and fifteen no to the audits questions. Though, this organization has a clear ethical guidelines and policies dealing with employees, customers and managers there seems to be clear misunderstanding and signals what constitutes appropriate corporate ethical culture. As a result, my store’s ethical culture is in direct conflict with corporate ethical culture despite training videos and publications about Wal-mart’s ethical cultural.
Key Trends – Globalisation One of the main opportunities Costco has is more global expansion to specific targeted countries. Although operating in many countries, Costco is heavily dependent on the U.S. and Canadian markets. It still has the opportunity to expand into the Asian and Australian markets where it has a limited presence. Costco has the capability to operate about 100 stores in Taiwan, Korea and Japan combined and about 20 stores in Australia. It currently has 41 stores in Taiwan, Korea and Japan combined and 6 stores in Australia.
Hodgson created a table of seven moral principles such as common good, autonomy, honesty, the dignity of human life, common good, humaneness, fairness, and loyalty. Whole Foods Market uses several of these principles in their organization (Kreitner & Kinicki, 2013). The most prevalent of them all is loyalty; therefore this is shown in many accepts of the organization. The company believes if you provide loyalty to employee this will create a happy employee that is more inclined to produce a better quality of work. With building an open and fair structure, their employees are loyal with efficiency and high attributes of work.
Dear supplier, Our Code of Conduct summarizes our commitments to ethical business practices and compliance with the law. It provides every stakeholder – suppliers, customers, employees and partners – a clear understanding of our expectations and activities and explains our guiding principles of business conduct. • We value key suppliers that: 1- have a certified quality, environment, health and safety management system. 2- are committed to a sound corporate governance.
Lauren Ryan Professor Buckingham GEOG 123, Section AN 8 December 2014 Costco: A Cut Above the Rest Introduction Costco Wholesale Corporation, in terms of their business practices and ethical standards, stands out above the rest. From the beginning, the owners, James Sinegal and Jeffrey Brotman, decided they wanted to avoid the corrupt practices associated with globalizing. No company is completely free from or unaffected by globalization; but Costco has done a pretty good job being fair in all of its transactions and affairs. From when it started to where it globalized, Costco’s process for globalizing and the reasoning behind it have made them not only a great company but also an incredibly successful company.
My code of ethics share commonalities with that of Verizon, and Colgate-Palmolive. These Organizations, including mine, emphases clarity, and healthy and active relationships with stakeholders, and the company as prescribes by Johnson (2013). According to Magloff (n.d.), Verizon code of ethics specifies guidelines on fairness and integrity, safeguard company information, keeping accurate records, and conflict resolutions. I also found Colgate-Palmolive code, shared by Magloff (n.d.) is center on building relationships with subordinates, management team, company, customers, communities, government and the law. Discussion of Synthesis Arguments
1. What is Costco’s current business model and why is it appealing? Costco’s business model is predicated on a best-cost theme. They take the low-priced supplier approach and mix that with creating price of the many stakeholders by targeting on wonderful client service, a severe code of beliefs, treating staff like family, concerning suppliers, satisfying shareholders, and a robust intelligence of environmental place. They need enforced distinctive cost-saving methods in their production, operations, and selling that have allowed them to draw in the foremost affluent customers in discount selling.
Costco has the opportunity to make developments on its private brand, Signature Kirkland brand. Adding more products and the commitment to quality is precious to the business. The Costco warehouse carries over 4000 SKU items which are minimal to grocery stores carrying over 30,000 (Caplinger, D. 2016). Costco has a limited selection of products that contributes to keep the cost low, and aiding in extensive savings onto the customers. Implementing a merger or expanding in new developing locations internationally, such as Mexico, that has a stable political structure and tax exemptions, will increase revenue.
A code of ethics is a collection of principles and practices that a business believes in and aims to live by. A code of business ethics usually doesn't stand alone, it works in conjunction with a company's mission statement and more specific policies about conduct to give employees, partners, vendors, and outsiders an idea of what the company stands for and how it's members should conduct themselves. In writing organisational ethical code, the following has to be considered: Professional Accountability Interpreters accept responsibility for all professional decisions made and actions taken. (a)
Ethical issue in Starbucks Starbucks, an American coffeehouse chain based in Seattle, Washington, is the world largest coffee retailer chain in the world having more than 21,000 stores in 65 countries (Starbucks website, n.d.). In United States, Starbucks owned 12,973 stores (Starbucks Company Statistics, 2014), which is more than 73% of the market shares of the United States coffeehouse industry. Hence, Starbucks possesses monopoly power in the specialty coffee market. Enjoying monopoly position, Starbucks plan to completely dominate the market by eliminating competition. Starbucks engages in a range of anti-competitive activities.
