Question

Suppose you are the CEO of Rich Products headquartered here in Buffalo, New York. Your main product is non-dairy creamer, but you also make other food products for sale to retail shops and grocery stores. In addition, you are a jobber (making goods under someone else’s private label, for example making product for Top’s Supermarket). In the last four assignments you covered various aspects of business ethics. This assignment requires you to come up with a five-rule code of conduct for your company. After each rule briefly describe what you achieve.

Answer 1

Five-rule code of conduct involves the following principles:

- Integrity: Integrity is a basic moral guideline of character dependent on genuineness and honesty. A business firm with integrity doesn't uncover confidences, or criticize the honesty of others or their organizations. Integrity is tied in with making the best choice for the correct reasons in any event, when nobody is looking. It should direct one's considerations, discourse and activities.

For instance, in this particular case, if any of my products are past their expiry date, I will not sell them to my customer. That clearly highlights a trait of integrity. All my stakeholders should be aware of my associations and practices. Adapting integrity in business will improve the reputation and help in securing the faith of the customers.

- Objectivity: Objectivity means to wipe out choices dependent on personal bias, social contrasts and whatever other model that can't be estimated or demonstrated. For instance, an organization could utilize its pay articulation to show that it isn't doing admirably rather than the genuine belief of the CEO.

In this particular case, objectivity would highlight clarity through unbiased functioning of each individual tasks (whether its non dairy creamer, other food products and producing goods under a private label). Achieving objectivity would ensure unbiased and successful operation of three services in a streamlined manner.

- Confidentiality: Confidentiality means demonstrating to the clients, customers and representatives a degree of basic kindness by ensuring their information, you're satisfying your lawful duty to keep sensitive data from being spilled.

In this particular case, since the firm is involved in three separate events concerning three completely different management bodies, securing the data of each firm and avoiding leakage would preserve confidentiality. By maintaining confidentiality, the firm can sustain a robust long term relationship with its customers.

- Competence: Competence defines the quality of decision making and value addition offered by the company to its client. If the competence of a firm is high, it is likely to sustain client retention and broaden its market base.

If the level of competence of Rich Products is consistent and maintained high throughout, all the three clients would be able to secure faith in it and continue their association in future.

- Professional behaviour: If any errors or delay occur in fulfillment of client expectations, the firm is expected to apologise immediately and exhibit transparency. This shall be deemed as professional behaviour.

Exhibiting professional behaviour to all its customers shall help Rich Products in retaining faith in client's good books and shall help them in obtaining lucrative deals in future.

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