Best Buy's Code of Ethics - Essay Example

Only on StudentShare

Extract of sample
Best Buy's Code of Ethics

34). Best Buy (2009) defines ethics as “putting principles into action,” which to the company is a matter of integrity and self-restraint (p. 1). Aiming “to be a responsible, values-driven global enterprise,” (p. 6), Best Buy declares its values into four strong statements: (1) “unleash the power of our people;” (2) “learn from challenge and change;” (3) “show respect, humility and integrity;” and (4) “have fun while being the best” (p. 5). These are achieved through mutual partnership, honest and accurate information, respect for employees’ autonomy, recognition of work, strict observance of confidentiality, zero-tolerance on retaliation, responsibility to stakeholders, respect for diversity, legal compliances, health and safety in the workplace, respect for the physical environment, financial integrity, fair competition, corporate social responsibility, protection and proper use of company assets, and protecting intellectual property. ...
Download paper

Summary

Best Buy’s Code of Ethics: An Analysis Among the US companies worth analyzing its code of ethics is Best Buy’s, because of its success story. Founded in 1966, the company (originally named Sound of Music) started simply as a small music store in St. Paul, Minnesota until it achieved its break in the ‘80s in which time (1983) its present name Best Buy was adapted…
Author : fhudson

Related Essays

Interpersonal Communication: Code Switching.
Code switchers who use English as their first language decide how they will switch the pronunciation of their English words depending on the setting within which they are speaking. The extent of formality or informality in a particular situation is what they consider most (Nilep, 2006).
...
12 pages (3012 words) Essay
Best Buy Website: An Overview
They also believe in being the best while at the same time enjoying their work, and ingraining a customer centric approach as a routine part of the workplace. (Buy) Placement is in stores and selling through its website as well. Best Buy is a customer oriented business so products are those that customers actually need. The placement is for the customer who earns an income of about 75,000 dollars and possibly has kids, and has has an averga eage of 38 years. (Buy) And even though Walmart and Costco are its competitiors, Best Buy allows customers to shop online. And their recent strategy is to...
8 pages (2008 words) Research Paper
Marketing Ethics
Pride and Ferrell (2012, p. 104) describe marketing ethics as a dimension of social responsibility that involves principles and standards that delineate satisfactory behavior in marketing. Marketers should be careful and conscious of moral principles for tolerable behavior from numerous stand points such as the industry, company, consumers, society, and exceptional interest groups. When marketing actions diverge from the established principles, the exchange practice can collapse, resulting in consumer frustration, lack of reliance and law suits (Arnold, 2009, p. 113). An ethical issue is an...
6 pages (1506 words) Research Paper
marketing ethics
The UK Co-operative bank is a perfect illustration of a business that endeavours to observe ethical principles that are dependent on the ethical practices that in which their consumers believe. The activities of businesses will always positively or negatively affect the surrounding environment and thus the community. Business operations predictably result in social as well as ecological consequences. Some firms, by their very character, have a vast and obvious effect on the society and the environment. The impact of the businesses in financial services field is not always evident. The UK...
3 pages (753 words) Essay
Marketing Ethics
Nestle is now the world's largest food company, and followed by Kraft Foods, Unilever, and PepsiCo. These companies follow textbook rules when it comes to marketing strategies, which is usually defined by the so-called 4Ps, which are product, price, place, and promotion. This is the guide to help them develop customer relationship to instill loyalty and prevent product switching. Marketing experts have recently added 3Ps which are process, positioning, and people. Whatever strategies a company uses in its marketing campaigns, the current mantra of the corporate social responsibility (CSR)...
3 pages (753 words) Essay
Best Buy Company Paper
Market study helps the company understand business opportunities or failures. Best Buy is a multinational company that carries consumer electronic devices, appliances, mobile phones, and services. It has been successfully operating in all the states and territories of the United States since 1986 but has only started international operations in 2002. Today, it operates in Europe, Mexico, Canada and China under different brands. The company has achieved growth thru mergers and acquisitions, particularly in its international segments. Cost of goods sold is reportedly high in these areas since it...
6 pages (1506 words) Research Paper
Ethics Paper
This paper, drawing support from the various media theories, tries to explain the social costs of such advertising approach, the responsibility an advertiser ahs to protect the indirect audience and how the advertiser can protect himself from being unethical when advertising. 1. The Social Costs Associated With Sexually Suggestive Advertising Advertising is a paid form of marketing by a sponsor of ideas, products of services. Advertising is an important tool in marketing and branding since it can be used to modify and drive consumer behavior (Gould, 1994). Through advertising an audience can...
5 pages (1255 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!