Overview
This is a drafting paper for the code of ethics, you have to search up the code of ethics from the competitors mentioned. You have to give full detail about the shrinking method mentioned below along with reviewing the code of ethics from the competitors mentioned. Basically draft up a code of ethics for Lux 50.
Writing Assignment #3
Drafting a Code of Ethics Writing Assignment #3 Legal Environment of Business Prof Williams Fall 2025
Lux50, Inc. You are on the Board of Lux50, Inc. (“Lux50”), an emerging competitor in the large luxury department stores that offers 50 exclusive, high-end luxury brand clothing and accessories for men, women, and children. . Starks is both incorporated in and has its principal place of business in the District of Columbia. It has 40 employees. While the company is only a few years old, its goal is to gain more market share from its closest competitors—Saks Global and Nordstrom, Inc. It is also struggling with a tremendous amount of inventory shrinkage. In order for Lux50 to stay profitable and competitive, it must get a handle on inventory shrink. Writing Assignment #3 Legal Environment of Business
Inventory Shrinkage aka “shrink”
The discrepancy between (1) the amount of inventory a business has recorded on its books and (2) the actual quantity on hand. Factors causing “shrink” Damage Theft Administrative errors Spoiled goods
Board Goals: The Board needs to create a Code of Ethics and
(Code of Conduct provisions) that help: Writing Assignment #3 Legal Environment of Business Prof Williams Fall 2025 1. Reduce errors 2. Reduce waste 3. Discourage employee theft 4. Increase overall employee mindfulnessAccording to Stark’s goals, draft
a list of ethics/values to help How employees should act toward each other How employees should at toward customers How employees should act regarding producing, managing, marketing, and selling the company’s products How employees treat the company itself How employees should treat vendors and other stakeholders How employees should at in regard to the community and environment. Writing Assignment #3