Running Head: MANAGEMENT ASSIGNMENT 1

Management Assignment

Student’s Name

Institutional Affiliation

Date
MANAGEMENT ASSIGNMENT 2

The Mixed Economy of Canada and its Economic Indicators

In a mixed economic system within a country’s jurisdiction, the government laws

and policies support both socialism and capitalism. Though the government allows for the use of

capitalism, it sets laws and deliberates on the economy performs to ensure that the public benefit

socially. In the allocation of resources in a mixed economy, both the private sector and the

government participate (Wenzel, 2019). Canada has a mixed market economy with the move to

privatize some of the government owned agencies for capitalization. The Canadian mixed

economy is a more free economy however with the government having a certain level of

controls. The Canadian government controls through policies and laws some of the basics public

utilities like air control and the use of postal services. Despite the Canadian market having a

private sector that decides on the goods and services to produce, the government maintains laws

and policies that guide on the interaction with the economy.

Through several governmental bodies, the Canadian government has ensured that the

mixed economy is in operation. For instance, the presence of Food and Drug Act, the Canadian

government has control on the production of drugs in the pharmaceutical sector and food

(Wenzel, 2019). The food and Drug Act are policies that govern any food and pharmaceuticals

produced or sold within the Canadian jurisdiction. These policies ensure all the commodities

produced and sold within the market are correctly labelled and meet the standards set by the

government as set in the Food and Drug Act. Through the existence of such policies, the

Canadian government ensures that unsafe products do not reach the market and that the

population enjoys social goods through government protection. However, the existence of these

policies do not control the prices or the goods that a given company should produce;
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organizations are allowed to make the decision on the products to produce and the price to

charge for their commodities.

In mixed economies just like Canada, business enterprises make the decisions on the type

of economic activity to participate in and the prices to charge. Also, the consumers are allowed

to purchase these good in the market competitively (Valverde, 1995). Through the economic

model of demand and supply, the different types of market exist in Canada. These markets

include perfect competition, monopoly, oligopoly and monopolistic competition. In the Canadian

market, there are many businesses producing different commodities and many consumers; an

imperative presentation of the Canadian mixed economy. However, despite the Canadian

government allowing for a free state of market, there are controls put in place that control the

movement of goods through the regulation of the pricing mechanisms. These pricing

mechanisms ensure that the prices of goods and services remain unchanged or change in small

margins. Through the pricing mechanisms, the government is able to protect the consumers from

exploitation by businesses through exorbitant prices and substandard goods.

In its pre-existence years as a colony, Canada practiced capitalism that involved the

production of goods and export of raw materials to the British markets. However, due to the

growth in the population, a change was required in the society to support the expansion. More

industries were started limiting the number of raw materials exported. People like John Molson

are imperative in the creation of the Canadian mixed economy due to their contribution to

industrialization (Valverde, 1995). As more industries were in operation, the economy expanded

overtime in the 19th century. However, the views of many capitalists were affected by the great

depression leading to a change in tact of doing business. More government controls and

interventions were also put in place. In the contemporary society, both the government and the
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private sector compete for resources. The Canadian government collects resources from the

public and the business society through taxation. These taxes are used by the government to

ensure that are social goods and services are provided to the public.

In conclusion, Canadian mixed economy has impacted on the delivery of goods and

services to the public. Though the Canadian government has allowed for organizations to

produce willingly the goods and services they want, they are governed by policies and

regulations that control on the quality and prices of goods. For instance, the Canadian

government has passed into law various Acts and monetary policies to ensure that the population

is protected from exploitation by businesses through unfair pricing mechanisms and quality of

goods and services. For example, the existence of the Food and Drug Act, it ensure that

businesses in such industries operate within the limitations of the policy.

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References

Valverde, M. (1995). The Mixed Economy as a Canadian Tradition. BMJ, 310(6986), 1080-

1080. doi: 10.1136/bmj.310.6986.1080

Wenzel, G. (2019). Canadian Inuit subsistence. Hunter Gatherer Research, 3(4), 567-581. doi:

10.3828/hgr.2017.29
MANAGEMENT ASSIGNMENT 6

The Difference between Compliance-Based and Integrity-Based Ethics Codes

Compliance based code of conducts are well defined and documented when compared to

integrity based code of conducts. Compliance based code of conducts are guided by set of laws

and regulations that are well documented by a company or government entity that require all

employees to follow. Integrity based code of conducts are just guiding principles that allow

individuals or employees in a given organization to make their decision through their own values

observing personal ethics (Giorgini et al., 2015). Compliance based ethics stick to a list of given

laws and regulations commonly packaged as policies in an organization while integrity based

code of ethics focuses more on the attainment of a business vision while observing an

individual’s ethical judgement. Under integrity-based code of ethics, many organizations have

well documented policies that are given to employees to read and sign and incase of any ethical

issues, they are required to follow same standards while under compliance-based code of

conducts, organizations react to each case of ethics differently.

Setting up of a Corporate Ethics Code

1. Setting of a code of conduct that is enforceable.

In the setting up of a code of conduct by a corporate, it should consider existing guidelines. For

instance, following ethical cases where managers of public listed firms doctored the accounting

books, Sarbanes-Oxley Act was passed. Also, an organization should consider its vision and

mission to highlight the key business values observe (Babri, Davidson & Helin, 2019). These values
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guide the organization on its operation and even as it expands and employs more people, a

similar ethical behavior can entrenched in all employees.

2. Initial and continuous training.

Corporates to ensure that their employees remain committed to the vision and mission of the

organization, require to setup training manuals for both existing and new employees. Every year,

most organization will have new staff while others leave, such opportunities should be used to

train and inform the staff on the existing corporate code of conduct and also the repercussions of

not adhering to these policies. For instance, employees can be guided to serve an organization’s

clients in a given way, which should be unique across the board. For example, to always ensure

that the service lines are clear before leaving their desks.

3. Continuous communication.

Through the human resource department, a corporate should ensure that there is constant

communication between the management and the entire organization’s employees. This will

ensure that employees are reminded what is expected of them (Pope, 2015). The nature of human

beings, is to forget, if these code of conducts are not constantly applied and communicated to

employees, it’s likely they will be forgotten. The continuous communication should have support

structures that are implemented by the Human resource department. For instance, the HR

department can choose to communicate on monthly bases.

4. Anonymous ways of reporting.

Anonymous channels of reporting are important in the setting up of a communication channel

between employees, stakeholders and the management. These channels will avoid biases and

ensure that employees that report are not victimized. Also, with the presence of such channels,
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employees ensure that they play their roles as expected and observe all the ethics of the corporate

because they do not know who is watching them. Anonymous channels also ensure that

employees feel that they are safe when reporting. For instance, a person in a senior leadership

role might be involved in misdemeanor and employees will be safer when reporting through the

anonymous channels.

5. Enforcement of the code of conduct.

Enforcement procedures are imperative when an employee has been found to contravene the

corporate’s code of conduct. The enforcement of a code of conduct highlights the course of

action to follow when handling cases of breach (Babri, Davidson & Helin, 2019). For example, the

breach of the corporate code of conduct should contain a ranking on the severity of the breach.

Moreover, the form of punishment to be used should also be documented where all employees

can read or confirm from within the corporate’s code of conduct. Other positive modes can be

used to ensure that the most compliant employees are identified and given a particular gift or

recognition.

6. Employee rewarding.

Employees can either be rewarded positively or negatively; positive rewarding involves bonuses.

Salary increments and recognition. Whereas negative rewarding includes, punishments that are

geared at changing an employee’s behavior to the required one in the code of conduct. For

punishments, employees can have their contracts terminated, suspended, show-cause letters or

salary cuts. These raft of measures are important to ensure that the entire organization’s

employees follow the given code of conducts.

MANAGEMENT ASSIGNMENT 9

References

Babri, M., Davidson, B., & Helin, S. (2019). An Updated Inquiry into the Study of Corporate

Codes of Ethics: 2005–2016. Journal Of Business Ethics, 168(1), 71-108. doi:

10.1007/s10551-019-04192-x

Giorgini, V., Mecca, J., Gibson, C., Medeiros, K., Mumford, M., Connelly, S., & Devenport, L.

(2015). Researcher Perceptions of Ethical Guidelines and Codes of

Conduct. Accountability In Research, 22(3), 123-138. doi:

10.1080/08989621.2014.955607

Pope, K. (2015). Steps to Strengthen Ethics in Organizations: Research Findings, Ethics

Placebos, and What Works. Journal Of Trauma & Dissociation, 16(2), 139-152. doi:

10.1080/15299732.2015.995021