Running Head: BUSINESS ETHICS 1Business EthicsStudent’s NameInstitution AffiliationDateBUSINESS ETHICS
ETHICS IN BUSINESS 2IntroductionThe restaurant has so many outlets across the world. The outlets are owned directly by thecompany or are franchises. The company’s financial or physical year runs from January to December. Just like any other company TACO BELL also audits their procedures and systems in abide to identify and diagnose the challenges they are facing or may face in the near future. In this context this essay will evaluate the ethical practices exhibited in the audit of different sectorsof the restaurant company including corporate governance and finance, marketing, employee relations, and technology. Corporate Governance and FinanceBeing a subsidiary of Yum! TACO BELL uses a corporate governance frame work similarto that of Yum! Brands. The company has a dedicated section of their website which is used to avail detailed information regarding their corporate governance principles and practices. These are like the norms and culture of the organization that guides their day to day routine operations. In the year 1997 the corporation published, a global Code of Conduct which conducts all employees behaviors on how to handle ethical issues related to the corporation confidentially. The corporate governance objectives of the organization are always focused or directed towards alignment with the shareholders and management interests. The goals and objectives of the corporation go in line with the interest of both the managers and the shareholders of the corporation. The establishment has a board of directors who assist in overseeing its operations. The corporate governance principles document sets out the optimum size of the board as being between 10 members minimum and a maximum of 15 members. The majority board members are required to be independent directors. Every year the board must meet not less than 5 times to
ETHICS IN BUSINESS 3discuss matters related to the company’s general performance. The independent directors of the board have a role to elect a lead director. The lead director after being elected has got a number of responsibilities. Some of the responsibilities include reporting to the chief executive officer any decisions made by the board. He also consults the shareholders whenever a need to consult them arises. The board of directors is always focused towards the achievement of the shareholders interest. The unique thing about the corporation is that the new board members are always elected by the current board members a model close to the Anglo-American model.