Essay Ethical and Socially Responsive Business - 1083 Words

Assignment: Ethical and Socially Responsive Business Instructor: Prof. JOHN KELL Introduction to Business BUS 100 Suleyman Sal Denden March 16, 2014 Describe key areas of the selected company’s code of conduct that are of significant importance to the business, and explain why. The first question we should ask ourselves â€Å"what is ethics?† I think ethics are a collection of principles and practices that a business believes in, statements and more specific policies about conduct to give employees, partners, vendors, and outsiders an idea of what the corporation stands for and how it’s staff should†¦show more content†¦Although all areas of the Cheesecake Factory’s code of ethical conduct is important for the success of the company, there are a few key areas of the company’s code of ethical conduct that are of significant importance for The Cheesecake Factory. 1-The first occurs in Article IV, in the â€Å"Conflicts of Interest,† section that pertains to transactions and investments. This specifically states that an officer or a director† should avoid participating in any transaction or investment that conflicts with, or gives the appearance of a conflict with, the interest of the company.†(Reference 1) This is key in maintaining ethics because a person who is in a leadership / management positions must be loyal to only their organization; otherwise, all decisions that are made and act are suspect as to the integrity of the choice, especially concerning money matters. 2- A second key area of The Cheesecake Factory’s code of ethical conduct that is of significant importance is in Article V, in the â€Å"Compliance with Company Policies and Procedures,† section that pertains to confidential information. It is very important and essential for the success of any company and business especially, the confidentiality of information, especially for third parties, be maintained. This leads to another key area that is also in Article V of the company’s code of ethical conduct. In the section that pertains to insider trading. In the section that deals withShow MoreRelatedEthical and Socially Responsive Business1082 Words   |  5 PagesEthical and Socially Responsive Business Ethics and social responsibility are important areas within Chipotle Mexican Grill’s business. Both areas have an interactive relationship that plays a role in building profitable businesses as well as a well-rounded community. Ethics refer to sets of beliefs about right and wrong; and business ethics involve the application of these issues in the workplace. 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