Explain the difference between an explicit code of ethics and ...

[Anajune7]

Explain the difference between an explicit code of ethics and implicit code of ethics. Why is it important for retailers to develop a code of ethics?

Question 2

A percentage markup of 50 percent on selling price would be the same as a 50 percent markup on cost.
 
 Indicate whether the statement is true or false

[peter]

Answer to Question 1

An explicit code of ethics is a written policy that states what constitutes ethical and unethical behavior. An implicit code of ethics is an unwritten but well understood set of rules or standards of moral responsibility. This implicit code is learned as employees become socialized into the organization and the corporate culture of the retailer. Legal and ethical behavior are not necessarily the same. Reasonable people may disagree as to what is right and wrong behavior; therefore retailers should develop explicit codes of ethical behavior for their employees to provide a formal indication of what is right and wrong.

Answer to Question 2

F

[Anajune7]

YES! Correct, THANKS for helping me on my review

[matt95]

Thanks for the timely response, appreciate it