Accounting is the process of collecting, storing, analyzing and interpretation and communication of the economic information data to the relevant management authorities for a successful performance of any business, (Atrill & McLaney, 2004, p1). For a deeper understanding of accounting and its major role in the society, let’s consider it from a wider and general social perspective in which there is a coexistent among different individuals in the society establishing mutual relationships with each other, in order for this society to function effectively, then there must be a smooth communication on the flow on delivery of every service in the society and it is the accounting information that plays a greater role in decision making in allocation of the scarce resources within the society, Kyriacou (2007, Lecture 1, p5). The main purpose of this research essay therefore is to explore the general business ethics in accounting and how it affects the Domino pizza fast food industry.The Domino’s pizza was started around the year 1960 by some two brothers namely Jim Monaghan and Tom (Abilla 2010), it was just an established restaurant called DomiNick.
At around 1998, Tom sold around 93% of the company to Bain Capital Inc., Domino pizza company has inimitable business and an operation kind of model that makes it the leading pizza delivery company in the fast food industry (Dominos 2008). (Raturi and Evans 2005), defines the operation management of Domino’s pizza company as a development design, system maintenance and conversion of technology, labor and raw materials into finished services that satisfies consumer needs, according to (Stack and Lewis 2011) the long term competencies of the Domino pizza company is influenced by the choices of the methods of operation strategy and the final input on the overall business strategy. Domino pizza company has a well laid and implemented mission statement that makes it to attract more employees, investors and consumers from different parts of the world, (Lawfer 2004) “having more fun while selling pizza”.
However, Domino’s pizza has experienced some ethical issues which has risen due to various reasons and employee actions, though the company’s code of ethics requires that they are into strict compliance with the laws of the country’s in which they do business, this has not always been the case, in her research article, (Susan Bird 2017) on why animal lovers should never eat Domino’s pizza, she says that Domino pizza company was tormenting animals while the rest of other fast food chains and restaurants are shifting toward more responsible, animal-friendly product sourcing, Domino pizza company stands out for publicly refusing to do so and bragging about it. Most of the animal activists are at logger heads with the Domino pizza because the company believes that if you push for the changes that improves the health, welfare and happiness of farmed animals then you’re an extremist. They found it hard to respond to the customers concerns about the animal treatment in their supply chain.
This resulted into an ethical dilemma between the Domino pizza company and the animal lovers, since the company had to serve the interests of the consumers, it was forced to abide by the customers’ requests and demands. Most consumers demanded free-caged eggs and no gestation crates for pigs, this saw Domino pizza make some low profits as companies and supermarkets refrained from their products. The major stakeholders that were affected by the unethical business act were the Domino pizza company management because the company got a bad name and this meant that most of the consumers were disgusted by how the company tormented the farm animals and the environment.
The decision made by the consumers to boycott Domino pizza products was so ethical as it protected the animal rights. The boycott affected the business negatively as it recorded a loss both in the sale of the company products and the reduction in the number of consumers. Most of the supermarkets and the restaurants also changed their supply lines in line with the interests of the customer concerns as the had developed a negative feeling about the Domino pizza fast food products.
In order to regain their customers and the interests of the animal lovers, Domino pizza started offering core products such the bread and garlic in any order inclusive of flexible operations that was key to pizza customization to customers alongside free soft drinks of different choices as requested by the customers, (Horovitz 2009).In my own understanding, business ethics are the rules and principles that govern both the company, its employees the consumers and all individuals surrounding the business environment to act honestly and in a trustworthy manner to everyone associated with the business either directly or indirectly in order to make right decisions for the betterment of the business. Business ethics plays a very important role in fostering a more vigorous but ethical decision making in preparation of people into entering the business workforce. My personal view has positively changed completely in regard to how various businesses operate, ethical business practices ensures perfect and smooth business operations leading to more profit as opposed to the unethical business practices that causes harm to both the consumers and the business environment as a whole. One of the major similarities of my view is that unethical business practice might lead to a business not picking up and maybe falling due to continued loss whereas my main difference in views again is that the type of products offered by a particular business cannot really affect the performance as it all depends on the marketing strategies and the type of employee-customer relationship. In conclusion, Ethics is important not only in the cooperate business world but also in the different aspects of life as it is the most essential part of the foundation to which a civilized and environmental-caring society is built.
It is evidence from the above research that the success of any business is dependent on the ethics upon which it is operating. A good business with a defined ethics is likely to produce quality products as it has won the employee loyalty and commitment hence maximum time is spent on the production process to ensure consumer satisfaction. It is therefore highly recommended that all business organizations to embrace ethical business practices for a more productive society.