Code of ethics assignment exploring Factors that Drive Successful Business Growth
Question
Task: What is the code of ethics assignment, and how it is used to develop effective business performance and development policies?
Answer
Introduction
Every business must develop its unique code of Ethics. In this code of ethics assignment, we will explore how Ethics help in developing acompany’s reputation among consumers and its workforce thus making it an important factor linked to every Business (O'Sullivan, Smith, & Esposito, 2012).Whiledeveloping a code of ethics, specific criteria must be followed to ensure every aspect of the code is addressed to deliver a healthy working foundation, relationships and growth. For this study's proposal, we shall developAcme’s Ace’s Code of Ethics and analysespecific areas within each of the codes that require close analysis to high performance.It’s essential to assess and understand each of the different sites linked to developing a business’s ethics since this will determine the success of the business. With more companies being set up, developing acceptable business ethics has also grown to become an essential part of every business and must be carefully managed.
Code of ethics assignment for Acme Chemicals
Guiding Principles
Acme Ace specialises in developing and manufacturing different beauty products and cosmetics, which results in the business developing a strict code of ethics associated with quality control. This is because the company uses a large verity of chemicals that require carefully mixing in the correct propositions to maintain safety levels (Spencer & Machan, 2014). The business is ethically bound to ensurethat they deliver high quality and safe products to the consumer, but it’s essential that the business must develop a code of ethics for all the stakeholders to ensure each one's needs are met and addressed. The business specialises in the development and creation of beauty products, and these results in them being bound to delivering high-quality products that are safe for users' applications.
Purpose of thecode of ethics assignment
The purpose of the code of ethics assignment would be to set guidelines linked to performance and quality for each of the products and stakeholders related to the business. It would create different codes of ethics, each focusing on another aspect of the business ranging from product quality to customer and employee relations and management (Austinm, 2015).
Product quality ethics
Beauty and skin enhancement products are developed using a wide verity of chemical components, and many require to be used in minimal quantities to remain within safe levels. It is the business's responsibility and its product development engineers to develop products that stay within safety levels yet deliver the high-quality output to help build the product's reputation among consumers.
Customer and employee relations and management
Every business workforce has been identified as necessary for its customer, thus making it essential to develop a code of ethics that addresses both the employees and customer requirements. Managing the customer and employee needs effectively is necessary if the business expects to register progress and development.
Core Value identified in this code of ethics assignment
The focus of Acme Ace is towards delivering high value to its customer through the delivery of high-quality beauty and enhancement products (Carroll & Buchholtz, 2008). Core values explored in this code of ethics assignment are closely associated with developing safe beauty products that will help the individual gain the best result after application. Besides delivering high-quality products, the business also provides high-quality working environments to its employees and workforce, thus ensuring they remain focused and able to provide high-quality performance at all times.
Training and Education
Another essential element to be included in the Acme Ace code of Ethics is providing training and education to its entire workforce. While this may sound like it should be mainly focused on the businessesrequirements, it’s essential that the code of ethics also includes provisions linked to employee interest development. Including employee personal interest, training and education programs is also an effective way of improving anorganisations performance.
Definition
Acme Ace's code of ethics should not be limited to focusing only on businesses development and growth but must be developed, keeping in mind all stakeholders interests. It's important to remember that all stakeholders are also motivated by development and growth, and the company must be able to offer them the opportunities to develop and grow. The code of ethics assignment also identifies the importance of equally balancing all stakeholders' needs through which the business can develop a suitable approach that is acceptable and respected by the public. Acme Ace's code of ethics must address each stake holder’s interest. It's vital to make sure both professional and personal interests are discussed in business ethics (Angle, 2004).
Stakeholders involved
A valid code of Ethicscannotbe limited to a specific group of individuals linked to a business but must address all stakeholders’ needs. There are several stakeholders related to every business ranging from the suppliers to employees, management, leadership and customers, who must all be considered while developing a business’s Code of Ethics. Each stakeholder codes of ethics will differ from the other thus, effective combinations of the regulations must be considered to deliver the most effective results.Involvementof all stakeholders towards a business's ethical guidelines is significant in ensuring the business archives success and progresses to the highest levels. It's critical to ensure all aspects linked to Ethics are addressed at all times, thus ensuring the highest levels of success.
Implemented and Communication
Due to each organisation developing their unique code, new employees will be briefed on the principles of ethics, after which they will be expected to begin implementing the code gradually. The code of ethics assignment also explores both verbally and print medium Communications relating to ethics among all stakeholders to ensure all regulations and expectations have been met. Updates will also be communicated verbally as well as distributed through text and printed media.
Enforcement and reporting
Acme Ace leaders would be responsible for analysis and evaluation of the code of conduct. The decision on the effectiveness of the ethics should be left on to the leaders. If they feel necessary, amendments can be made.Each stakeholder's participation towards upholding and reporting about threats and developments shall be recorded to assist the organisation in improving the ethics and register progress.
Mission Statement
The mission of the organization is to deliver high-quality Ethical approaches to all business stakeholders, focusing on development and progress. Product and Service quality and stakeholder comfort must always be upheld to ensure each individual is satisfied and prepared to contribute wholeheartedlytowards business growth.
Evaluation of Acmes Chemicals Code of Ethics
Stakeholders
The code of ethics assignment is only executable when all stakeholders are involved in making it. It’s essential to identify each stakeholder's needs and identify guidelines by which they are supposed to abide by, allowing them to make suitable choices linked to business processes. Acme Ace stakeholders include suppliers, employees, managers, leaders, and customers who all require followinga different set of ethics (Morris, 2008). Each stakeholder codes of ethics will vary from the other, but individual ethics such as time management and quality must remain universal for each stakeholder linked to a business. Unique stakeholder’s ethics can then be divided to address different aspects of ethics that comply with each individual.
Strategic Ethical formation
The business code of ethics cannot be developed all at once, and it is a long going process that requires carefully managing and evolving. For a start-up business like Acme Ace, the universally acceptable set of ethics shall be adopted, which would gradually be modified to include different business aspects.The development of a business’s ethics will mainly rely on the organisation's operations. It will require developing and refining overtime to ensure all aspects linked to the businesshave been addressed. Each business’s ethics will gradually develop over time as the business settles and identifies different elements and qualities which require being addresses and maintained.
Strategic implementations explored in this code of ethics assignment.
The implementation of Ethical guidelines and expectation is always a process that must be undertaken to prevent overstraining the business.The performance of ethics would be based purely on evaluation and observation where the business leaders and all stakeholders would require is briefing regarding the businesses ethics and expecting to uphold the ethics. It would be each stakeholder’s responsibility to participate in the implementation of business ethics, where each would be expected to keep the ethics and ensure their neighbours upheld the ethics. Taking a combined effort towards developing and implementing business ethics is vital since it will provide the individual secure high-quality services at all times. The successful implementation of this code of ethics assignment is purely dependent on all stakeholders participating in the process to ensure all stakeholders practise the very best ethics.
Ethical Monitoring Mechanism
Business ethics are only useful if there is a way of monitoring them, making it very important for Acme Ace to develop a suitable approach linked to monitoring ethics. The first step linked to effectively monitoring and implementing positive ethics within the organisation is empowering all stakeholders. This is very important since the managers and leaders can only watch a limited number of individuals at the same time. By involving all stakeholders, the business is more capable of monitoring each participation and adherence to its ethics. Empowering each stakeholder also gives each one the power to question another individual when the ethics have been breached or not implemented correctly. Involving all stakeholders towards monitoring Ethics is the most effective way of ensuring business ethics are implemented correctly. This allows the business to secure the most useful feedback that can be used to improve further the organisation's ethical guidelines (Ferrell & Fraedrich, 2006).
Ethical Performance
Each stakeholder’s performance towards implementing the ethics is based directly on how they intend to understand the ethics. As per research performed in this code of ethics assignment, it is essential to educate all stakeholders regarding business ethics. It will allow them to implement ethics in the required manner.It’s also necessary to involve the stakeholders in developing and refining business ethics, which will enable the stakeholders to contribute towards developing the process. It's essential to address different aspects linked to each stakeholder's needs, thus eliminating the possibilityof the ethics being one-sided (Jónasson & Ingason, 2013). It’s vital to make sure every aspect related to the business is carefully managed at all times, and the primary concerns addressed with the sole objective of promoting the businesses development. Businesses Ethical performance is purely based on how the organisations develop their ethics, and stakeholder participation is critical if the organisation is to secure high-quality information and feedback from the process.
Conclusion
For a business like Acme Ace, which specialises in the production of beauty products and cosmetics, it has become essential to promote positive ethics among all stakeholders. The business is not reliant on a single individual and must consider alternative approaches, which also require being involved in the process to ensure the business achievessuccess.Business ethics are gradually developed and will require severalamendments and changes over time to keep the business competitive. The code of ethics assignment concludesthat if a business wants to retain its competitive edge, it is essential to develop and practice effective ethical plans and policy.
Bibliography
Angle, C. (2004). Defining Ethics Good & Evil. New York: Philosophy Publishing Co.
Austinm, M. (2015). The Purpose of Ethics. Lulu Press, Inc.
Carroll, A., & Buchholtz, A. (2008). Business and Society: Ethics and Stakeholder Management. Cengage Learning.
Ferrell, O., & Fraedrich, J. (2006). Business Ethics: Ethical Decision Making and Cases. New York: Cengage Learning.
Jónasson, H., & Ingason, H. (2013). Project Ethics. Farnham: Gower Publishing, Ltd.
Morris, M. (2008). Evaluation Ethics for Best Practice: Cases and Commentaries. New York: Guilford Press.
O'Sullivan, P., Smith, M., & Esposito, M. (2012). Business Ethics: A Critical Approach: Integrating Ethics Across the Business World. Oxon: Routledge.
Spencer, H., & Machan, T. (2014). The Principles of Ethics. Liberty Fund, Incorporated.
