Social Performance of a Romco Company Limited - Essay Example

? Social Performance Part 2 Romco Company Limited is a limited liability company with offices in the United s of America. Its establishment was informed by the desire to meet public needs and reach out to the people in various States in America. The company deals with production and distribution of sanitary towels to the girls and women in the society. The company collaborates with the government and other various organizations. Its management and running is guided by the government policies and the rule of law. This ensures that the company operates within the given guidelines. It is noteworthy that these guidelines are set under the federal sentencing guidelines for organizations. Every company should observe these guidelines whilst undertaking its operations. The federal sentencing guidelines are a set of rules, which enforces standardized sentencing policy to individuals and organizations condemned of criminal offences. These rules were set in the United States federal court system (Davidson, 2005). These set rules and regulations are only applicable to serious crimes, and offences. In this regard, the less serious crimes are excluded from these regulations. The primary goal for these guidelines aims at alleviating sentencing inequalities rampant in the established sentencing system. The guidelines promote the development of effective programs by the company in an effort to prevent and identify law violation and set steps for facilitating the program. Companies, therefore, should have set codes of conduct to be followed to avoid and minimize violation of laws. This will improve the reputation of the company. The code of conduct is a system of behavior followed for maintenance and promotion of company’s dignity and reputation. Romco Company has set codes of conducts, which should be adhered to by its stakeholders including executives, board of directors, directors, company secretary, staff, and other employees. Each company has its own set codes of conduct, the codes of conduct are unique for each company, and thus, there is no uniformity or standardized codes of company. The freedom accorded to these companies have contributed to problems in the way companies operates this is because some misuse it by setting codes for the sake of personal greed and interest. Romco’s competitors are examples of companies with codes of conduct, which do not put into consideration the interest of its customers and competitors. Angels, Ramal, and Queens Companies fall in the same industry with Romco. The codes of these three companies are, however, different and do not agree with those of Romco. The directors of these companies are superior as decision-making is centered. They do not consult other stakeholders as they have a final say, and thus, they make decisions based on their personal gains and interest without considering other employees. Honesty and transparency among the directors are not observed, and thus, the allocation of resources to different departments is not uniform, hence affecting operations of the company. These companies have constantly become the victims of the federal sentencing guidelines. This is because of their failure to complying with the basic laws, regulations, and rules. In addition, they have failed to establish the appropriate business ethics and code of conduct appropriate for corporate governance. Ramco, unlike its competitors, have set rules of conduct, which are adhered to, and strictly observed by the parties involved in the company. The interests of various stakeholders that are significant for the growth and success of the company should be considered. Romco has managed to achieve this role. Decision making in the company is reached by involving all participants. In this case, the decisions do not lie in the hands of directors, and managers, the decision-making is decentralized. The directors of Ramco execute their duties with fairness, honesty, and transparency. They are required to perform their duties professionally, with determination and prudence. This is not only significant in managing the company, but also in inquiring for solutions for the future problems. The achievement of objectives is arrived at through follow-up operations as well as the consideration of significant business transactions. The company’s operations are based in a society controlled by moral values. Thus, the ethical issues should be observed while undertaking it operations and responsibilities. It is imperative that ethical issues are wide spread, and covers a range of aspects. This includes the aspects such as work environment, employee pay rates, product packaging, and prices of products (Lawrence & Weber, 2011). However, the company is experiencing several challenges, which have negatively affected its operations, thus the failure to meet the company’s objectives. The comprehensive product knowledge as ethical challenge has affected the performance of the product in the market due to consumer confusion. In this case, the agents and sale representatives should have a clear understanding of the product. This will assist the customers make conversant decisions. Misrepresentation is yet another ethical challenge affecting Romco Co. Ltd. Consequently, this has led to the inaccurate use of language in responding to customer’s questions. The company should ensure that they use a language, which is simple and clearly understood by its clients (Goodell, 2004, p.80). Romco have created a systematic and appropriate code of conduct, which has significantly assist in the elimination of these ethical challenges and prevent future occurrences. To address ethical challenges, it is appropriate for the company to create a check off system where the company’s employee are monitored. This will allow the appropriate measures to be imposed to those found going against the company’s code of conduct. The strategy will assist the company built a reputable image in the market, thus attract customers and business partners. It will also enable the company to exercise control over its internal affairs without involving outside forces. The Federal Sentencing Guidelines for Organizations promotes effectiveness in companies. As a result of the guidelines, the companies will adhere to its ethical program, hence accomplish its objectives. These guidelines are significant for a company since they are accountable for the crimes committed by its employees. Research shows that organizations with a clear set ethics programs have its employees observing misconduct while undertaking their activities; this has helped in promoting self-discipline and reducing crime cases. Romco Co. Ltd operates in both internal and external environment, which involves interaction with its competitors as well as experiencing changes from other influences. With a dynamic society experiencing changes in cultural, economic, political, social, and technological forces affecting business and society, the company has developed strategies to accommodate these changes (Goodell, 2004, p.79). Analysis of these forces is significant in enabling the company to develop strategies relevant to these forces. It is important to note that the social changes involve the adjustment in a society and its social structures. This involves changes in population, behavior, and lifestyle of its customers. The improvement of life style of the entire population has positively influenced the demand of sanitary towels as they can now afford the product. A growing economy acts as an avenue for the provision of opportunities to the company in making profits hence increase in the living standards significant for the growth and expansion of the company. Political changes bring about change in governance and government policies, which have a significant influence on business, and other sectors of the economy. Improved political system provides a conducive environment for business activities, hence promoting the growth of companies. Technological advancement and innovations are positive indicators of a growing society hence growth in companies. With the availability on new technology, the company can adopt new ways of production and marketing strategies, which are economical and efficient hence, profit maximization. Technology is essential for realization of company’s objectives, goals and roles in the society. This clearly indicates that a society cannot live without technology; technological improvement in a society is a positive indicator of development. Improvement in business operations and activities are made possible by the availability of new technological advancement. The society is moving from analogue to digital, hence, it is significant for the company to develop a check-off system to ensure that other companies do not leave them behind (Lawrence, A. & Weber, 2011, p.199). The introduction of computers in the 20th century brought about change in communication and infrastructure as these aspects went digitally. Romco Company was not left behind it adopted the technological advancements. This has assisted in identifying new markets, which are reliable whilst fostering the production process. The success of business operations in a company is a significant indicator of growth, which is dependent on several factors. Both internal and external environment is of significance to the development. These environments form the basis of the company administration of its roles. A health business society is realized when set rules and regulations are adhered to, for example, code of conduct and adhering to the organization federal sentencing guidelines. References Davidson, J. (2005). Corporate Sentencing Guidelines Have Snagged Mostly Small Firms. The Wall Street Journal. Vol. 20 (2), p.120-138. Goodell, R. (2004). National Business Ethics Survey Findings. Ethics Journal. Vol. 1 (3). P.77-82. Lawrence, A. & Weber, J. (2011). Business and Society: Stakeholders, Ethics. Journal of Public Policy. Vol.2 (3). P.199. Read More