Starting up and managing a business requires one to act responsibly and ethically at all times. It is

Question

also imperative that one carefully considers the management team and the opportunities that
franchising presents to a business to create a bigger brand name and increased market share. In
this task, you will discuss some aspects of franchising and develop a brief code of conduct for your
business. In order to complete this task, you are expected to conduct desktop research.
1. You may consider franchising your business at some point. Identify the type(Business format franchising or trade name franchising) and
model of franchise that your business could potentially enter into. Justify each
selection.
(4)

Answer 1

Business format franchising would be the most suitable type of franchise for my business to enter into. This type of franchise involves providing a complete business model, including marketing, operations, and training support to the franchisee. This would allow for consistent branding and customer experience across all locations, ensuring a high level of quality and customer satisfaction.

As for the model of franchise, a single-unit franchise would be the best option for my business. This model involves granting the rights to operate one individual franchise location to a franchisee. This would allow for direct control over the operations and management of each location, ensuring that the business maintains the highest standards of quality and consistency.

2. Develop a brief code of conduct outlining the ethical principles and standards that your business will adhere to. Ensure that the code addresses key areas such as honesty, integrity, transparency, and accountability.

Code of Conduct:
1. We will always act with honesty and integrity in all of our business dealings, maintaining the highest ethical standards.
2. We will treat all customers, employees, and stakeholders with respect and fairness, valuing diversity and promoting a positive work environment.
3. We will operate our business in a transparent manner, providing clear communication and information to all relevant parties.
4. We will comply with all laws and regulations governing our industry, maintaining accountability for our actions and decisions.
5. We will strive to continuously improve and innovate, seeking feedback and input from all stakeholders to drive growth and success.

By adhering to this code of conduct, we will build a strong reputation for ethical business practices and create a positive impact on our community and industry.