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Ethical And Socially Responsive Business Add in library

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Question:

Describe about ethical and socially responsive business?
 
 

Answer:

The Business ethics can be defined as moral code of conduct that explain the principles and policies that is practiced in the company to deal with the human resources in fair and proper way. The landscape of business ethics comprises corporate governance, reputation management of the company brand, fair practice of accounting and financial aspects, fair labor policy and environmental policy. It helps in conducting business with a social concern, best practices and integrity. The ethical and socially inclined policy of the restaurant The Cheesecake Factory, the leading upscale dining concept based in United States (Thecheesecakefactory.com).It has 185 restaurants and offers 200 menu items along with Grand Lux Café and Rock Sugar Pan Asian Kitchen.

The Board of Directors of The Cheesecake Factory has designed the code of Ethics to identify any wrong doings and promoting fair practices and abide the governmental laws, rules and regulation to conduct the business in a socially responsive way. The code of ethics of the company is explained below

• Statement of purpose and applicability - This defines the various policies and procedures related with human resource, financial resource and every employees need to abide by them while performing the duties on behalf of the company

• Administration – The audit department of the company is responsible to monitor the code of ethics and identify the violation to make the business socially responsive.

• General Standards of conduct – This deal with applicable laws and regulation and judicial and administrative orders that is guiding principles for every employees in dealing with customers, suppliers, competitors.

• Conflicts of interest – The company objective is achieved by team work and working in team leads to conflicts and code of ethics helps in resolving such conflicts (Lee, 2014). The conflicts of interest is related with

a. Transactions and investments

b. Use of Position, information and company property

c. Competition with the company

d. Business opportunities

e. Prompt disclosure of potential conflicts

 
• Compliance with company policies and procedures – The Company has detailed policy regarding the behavior, interaction, conflict handing and general conduct (Payne & Raiborn, 2013). The area of concern are related with

a. Confidential information

b. Policy Prohibiting insider trading

c. Public company reporting

d. Other policies and procedures

• Reporting and consequences of violations – One of the major function of code of ethics is related with reporting and consequences that leads to conflict in the workplace and process to handle the same and include

a. Reporting of Violation in the workplace

b. No Retaliation

c. Waivers

d. Consequences of violation

The code of ethics of The Cheesecake factory has added additional code of ethics to manage the managers, executive, and new staff joining the company and read and sign the copy of acknowledgement that covered additional areas like.

a. Non Solicitation

b. Non Raid and Non Disparage issues

c. Positioning messages about the company in the social site network

d. Protection and use of the asset of the company.

e. Obligation to communicate with team members

The company takes serious action against people not abiding by the code of the ethics in executing the job.

References

Lee, Y. K., Choi, J., Moon, B. Y., & Babin, B. J. (2014). Codes of ethics, corporate philanthropy, and employee responses. International Journal of Hospitality Management, 39, 97-106.

Payne, D., & Raiborn, C. (2013). The Ethics of Payday Loan Practices. Ethics & Behavior, 23(2), 117-132.

Thecheesecakefactory.com,. 'Welcome To The Cheesecake Factory'. N.p., 2015. Web. 17 Aug. 2013.

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