Corporate Social Responsibility Code of Conduct Dollarama has a very strong sense of corporate social responsibility and their code of conduct and ethics is proof of this. This code applies to all employees of the corporation and the employees are expected to act according to the rules in the code of conduct. “The objective of this Code of Conduct and Ethics (the “Code”) is to provide guidelines for maintaining the integrity, reputation, honesty, objectivity and impartiality of Dollarama.” (Dollarama Code of Conduct and Ethics, 2010) According to Dollarama, the policy mainly deals with but is not limited to these issues stated below. • Conflicts of interest, including transactions and agreements within which a director, executive officer …show more content…
If the vendor cannot meet the vendor code and cannot resolve the problem in a reasonable timeframe, Dollarama will decide may terminate the trade relationship they had depending on the severity of the violation, and the amount of time they neglected the issue. Environmental Responsibilities Dollarama is very concerned about reducing its carbon footprint and delivering the highest quality products in a way has a positive effect in the environment. Dollarama works on ways to reduce the impact they have on the environment be right-sizing their products to reduce product and shipping packaging, which reduces their GHG (greenhouse gas) emissions. Dollarama is also replacing their lighting by changing to environmentally and energy efficient lighting. Dollarama strives to incorporate environmentally friendly technology to safe energy and conserve the environment. …show more content…
Dollarama competes with other stores like dollar tree, which have a similar approach to Dollarama by having prices at approximately $1.25. Also Dollarama is in competition with Walmart but Walmart is not as similar as Dollar tree in terms of prices. Nevertheless, Dollarama’s main competition all strive to reduce prices and maintain exceptional quality, which can be stressful for these companies because when you lower the prices you also lower the profit. So Dollarama struggles to find a balance between competitive prices and profitable prices. Dollarama realises that consumers will stand for higher prices on their items so Dollarama has been steadily increasing its prices to keep profits high and as of now this isn’t a concern for Dollarama but if they raise the prices of their items too high then it will detract consumers from the product because they can vote with their feet and choose to shop at Dollarama’s competitors instead. Because of Dollarama’s mix of alluring prices and exceptional product quality, it remains Canada’s leading discount store despite
Costco has built a reputation of being a caring corporation1 with a low cost structure in the discount services sector. Their founder, Jim Sinegal, believed in building a business on strong ethics while offering a wide selection and great value. Costco’s vision is expressed in its code of ethics which contains five key tenets by which the company operates: Obey the law, take care of our members, take care of our employees, respect our suppliers & reward our shareholders.2 With this vision Costco has built the third largest retailor in the United States. By looking closely at the code of ethics it becomes possible to see it has built in strengths and weaknesses.
Dollarama’s operations are based on the annual sale of the merchandise. Dollarama is a retail store whose main source of income is by the sales to the customers of their merchandise. This is why it is expected to convert into cash within one year. Dollarama’s business is adjusted according to the sales of the merchandise. 2) What is Dollarama’s largest non-current asset?
We don’t want to risk it and make it too low by reducing the price by 10%. There is a potential increase in market share by reducing the price by 7% in only the grocery and produce markets. The gross profit margin with efficiencies means updated prices, people don’t need to tag shelves, lower inventory costs, lower supplies, and labor expense which makes Option 3 so attractive. The price will be best if reduce only 7% in those two categories. The categories we choose addresses the issue of consumer perceptions of higher prices by increasing the perception of value for customers of the most popular grocery items.
The seven core values of the NAEYC Code of Ethical Conduct are different kind of commitments that we have to follow in order to be in a field of any early childhood care and education. The seven values are: Appreciate childhood as a unique and valuable stage of the human life cycle. , Base our work on knowledge of how children develop and learn. , Appreciate and support the bond between the child and family, recognize that children are best understood and supported in the context of family, culture, community and society. , Respect the dignity, work and uniqueness of each individual., Respect diversity in children, families ,and colleagues., And finally, Recognize that children and adults achieve their full potential in the context of relationships that are based on trust and respect.
Core Values and Ethical Principles The six core values recognized by the NASW Code of Ethics are: service, social justice, dignity and worth of person, importance of human relationships, integrity, and competence (NASW, 2008). These values are defined and expanded upon, and are then listed as ethical principles. Several of these principles apply to this case.
However, it does use a strict Code of Ethics of policy. It lists one strictly for financial executives, which is filed with Securities and Exchange Commission. In addition, there is a Summary of this Code of Ethics that is given to
Cost is an important part of fast-food experiences, and how much a person has to pay can determine which restaurant to visit. McDonald’s has low prices compared to other restaurants. McDonald’s signature item, the Big Mac, is only four dollars. This price is a good deal when compared to other restaurants. They also have a “Dollar Menu” with many different meals such as cheeseburgers, salads, and chicken sandwiches.
Home Depot is a multi-million dollar industry, with over 2,000 stores around the world. They supply contractors with tools and products to build a house or supply Do-It-Yourselfers with home and business improvements. But with all the good Home Depot has done, they have their faults too. Home Depot has faced job cuts, ethical violations and the mistreatment of their customers. When a person hears job cuts, they assume that the reason for the job cuts is downsizing.
It is essential for individuals and those representing an organization to understand what is an ethical dilemma. Wells Fargo financial corporation was involved in a dramatic ethical issue due to millions of unauthorized bank account openings. As explained in The PLUS Ethical Decision-Making Model, “many organizations battle to develop a simple set of guidelines that make it easier for individual employees, regardless of position or level, to be confident that his/her decisions meet all of the competing standards for effective and ethical decision-making” (n.d). The Wells Fargo scandal is evident prove that employees lacked ethical judgment and management supervision. The seven ethical decision-making steps foster straightforward thinking that
Walmart Case Study This case study involves America’s largest and most recognizable retail chains. Walmart steadily grew from its founding in 1962 as a small Arkansas based retail store into the multi-national giant that it is today. One of the issues that Walmart’s unprecedented growth has raised is how it can maintain the ethical standards and principles held by its founder, Sam Walton, when it has grown past its humble roots and continues to grow in an ever more competitive and hectic world.
Recently Wells Fargo’s scandal of creating phony accounts has raised ethical concerns in the corporate world. Wells Fargo employees opened more than two million unauthorized bank and credit card accounts to meet sales projections. The company was charged with huge fines and earned a bad reputation that will take years to rebuild. According to the Deontological perspective on ethics least some acts are morally obligatory.
Analyze Amazon.com using the competitive forces and value chain models. How has it responded to pressures from its competitive environment? How does it provide value to its customers? a) Competitive forces analysis i) Entry of competitors It is easy for competitors to enter the market by establishing an e-shop and Amazon laid the groundwork for competitors (Flat World Business, n.d).
Davis (as cited by Khalidah, Zulkufly, & Lau, 2014) defined Corporate Social Responsibility (CSR) as “… the firm’s consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm. It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which stats that a firm can never exist In a vacuum (Khalidah et.
Ethical issue in Starbucks Starbucks, an American coffeehouse chain based in Seattle, Washington, is the world largest coffee retailer chain in the world having more than 21,000 stores in 65 countries (Starbucks website, n.d.). In United States, Starbucks owned 12,973 stores (Starbucks Company Statistics, 2014), which is more than 73% of the market shares of the United States coffeehouse industry. Hence, Starbucks possesses monopoly power in the specialty coffee market. Enjoying monopoly position, Starbucks plan to completely dominate the market by eliminating competition. Starbucks engages in a range of anti-competitive activities.
With this strategy, it gives customer the awareness and urge to buy in view of their low pricing as compared to other competitors. For example, KFC Zinger Double Down set priced at RM 9.95 with includes two pieces of meat while McDonald Spicy Mc Deluxe Burger set at RM 9.45 with includes only one piece