These days, as the economic globalization‘s acceleration, enterprises face rigorous challenges brought by the ever-sharpening international competition, peer pressure as well as risks that may arise on the road of development. it’s easy to paint the corporate world in a negative light. Therefore, the code of ethics plays an increasingly important role in enterprises.
The code of ethics encompasses a series of principles are applied to employees to avoid unethical practices, behaviors, and misconducts today. Business Ethics refers to standards of correct behavior, members of the organization are expected to maintain and follow with. A properly framed code helps provide companies with a compass to guide their employees through business environment.
For global companies, like Starbucks. The Starbucks does business with its suppliers all around the world. It purchases coffee bean from countries in South America, Africa, and Asia. It is crucial for the Starbucks to ensure the long-term sustainability of the quality of coffee while considering the mutual benefit of the coffee plantations and the company. The Starbucks Supplier Code of Conduct requires their employees to show respect and dignity to the farmers, and moreover, the company provides farmers with various aspects of services concerning information technology dissemination, training, financing, infrastructure, education, etc. Starbucks’ Farmer Support Centre on four continents where agronomists test soils, examine samples and provide free pieces of advice to any coffee farmer who asks. This cooperation uses its code of conduct maintains high-quality coffee beans, which receive recognition around the world.
In my perspective, the code of ethics can affect the market in different aspects, includes strengthening the relationship with customers and franchisees, foster a healthy company image, utilize resources effectively, and so on. Business ethics contribute to a long-term development of the company.
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Sources:
Starbucks Coffee Company (n.d.). Supplier Guidance. Starbucks Coffee Company. Retrieved from https://www.starbucks.com/business/suppliers
Starbucks Coffee Company (n.d.). Standard Terms and Conditions. Starbucks Coffee Company. Retrieved from https://www.starbucks.com/business/suppliers/standardtermsandconditions
N.a (15 May 2014.). Ijoart.org. Retrieved from http://www.ijoart.org/docs/THE-IMPORTANCE-OF-BUSINESS-ETHICS-IN-GLOBALISATION-A-STUDY.pdf
ResearchGate (6 Dec. 2014.). Business Ethics: Impact of Globalization. ResearchGate. Retrieved from https://www.researchgate.net/publication/271531654_Business_Ethics_Impact_of_Globalization