Ethical and Socially Responsive Business - Research Paper Example

1. Describe key areas of the selected companys of conduct that are of significant importance to the business, and explain why. Ruby Tuesday’s Inc. key areas of company conduct that are of significant importance to the business are “Compliance with Laws, Rules and Regulations (i.e. Preventing Harassment and Discrimination, insider trading) conflicts of interest, fair dealing, accounting and financial integrity (http://phx.corporate-ir.net/). These aspects of the company’s code of conduct has an implication to the regulatory agencies as well as the operations of the business that affects the general public.

Compliance with laws ensures that the acts of the business are legal and will not be sanctioned and penalized by regulatory agencies that would disrupt its operation. Avoiding conflicts of interest ensures the professionalism of the operation of the business. Finally, fair dealing, accounting and financial integrity ensures that Ruby Tuesday’s Inc. have the full confidence of the general public that could translate to general public’s patronage. 2. Explain the key steps that the company should take to ensure that employees follow the code of conduct.

There are several ways that the company should take to ensure that employees follow the code of conduct. The most obvious step is to adopt a zero-tolerance policy against unethical business practices within and without the company as a deterrence to unethical acts (_____). It would also ensure that employees follow the code of conduct when it is integrated during the orientation and training of employees whereby they are taught to appreciate ethical practice not only to reflect the company’s values but also as a better way to do business.

To make ethics as part of the company’s strategic plan would ensure that ethics is considered in every act of the company. Having integrated ethics in the strategic plan gives weight to ethics to be as important as making profits thereby ensuring that employees as well as the officers of Ruby Tuesday’s Inc. will follow the code of conduct.3. Suggest three (3) ways in which the restaurant can engage in socially responsive activities in the community within which it operates.a. Maintain integrity in all its business transactions – this includes financial integrity in the reporting of its financial statements to its shareholders (stockholders, general public, employees), integrity in its operation whereby all products and services are not only of quality but also consistent to product and service promise.b. Practice CRM or Corporate Responsible Management – this requires engaging in social activities that promotes the greater good of the community and society.

CRM includes using “green practices in the operation of the restaurant whereby Ruby Tuesday’s is not a pollutant to the environment as well as treating and paying its employees fairly.c.