...and Ethics Assessment 1 Term 2, 2014 Tara Dayon S0257204 The concept of corporate social responsibility has an increasing continuous widespread attention from business people, consumers and academics. It is because the organisation received benefits for being socially responsible which has cost companies to have increasing commitment to implicate ethical standards. (Patrick, E 2011) To integrate the concept of corporate social responsibility, organisation creates business ethics, which includes standards, and principle known as codes of conduct to assist the behavior of people working in the company in the world of business. The stakeholders usually determine whether a specific behavior is ethical or not. (Ferrell, Fraedrich & Ferrell 2011). These codes of conducts have made a big difference in the business industry help improve overall organizational performance. Firstly, the codes of conduct along with education develop the worker’s job satisfaction and determination, aid the company’s recruiting efforts and help build strong relationships with business partners. Secondly, a lot of company leaders believe that “doing the right thing” is its own reward and has strong ethical cultural benefits. Finally in most organization, the effects of having an inspiring code has both helped workers’ towards the management approach and helps worker’s understand the values of the organisation. (The impact of codes of conduct on corporate...
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...Introduction Codes of ethics Code of ethics is widely accepted in an organization or company. Many business adopted code of ethics at this present days. So, its adaptors are steadily increasing over past two decade. The research of Mark John Somers characterized codes of ethics into several themes representing distinct lines of inquiry. One theme concern in promoting ethical behavior in organization and second one is prevalence; which mean which codes have been adopted in specific countries. (e.g white and Montgonery, 1980) or industries (e.g Berenbeim, 1992). And the last is emergent theme which concerns the influence of codes of ethics on employee in an organization. Codes of ethics define moral idea essence of an organization or company. A code need to be simple and easy to understand that unites employee regardless of their particular religious, sex, location, race and ethnicity. The tone of code is important. There are six moral values of codes of ethics review by corporate, global codes of ethics, Business ethics are as follows: * Trustworthiness * Responsibility * Respect * Caring * Fairness * Citizenship Codes of conduct A code of conduct expands on the principles embodied in code of ethics. Codes of conduct have to address all the legal expectation and ethical risks suit to organization or company or job title. Codes of conduct have to be revising when the issues arise in the organization. The NYSE address seven topics of codes they are...
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...BUSINESS ETHICS Name Institution of Affiliation Introduction The business environment is changing to embrace ethical conduct in the performance of duties and activities of individuals in professional setting. Nowadays, companies are exposed to public scrutiny where their corporate social responsibility and social accountability are assessed. A shift towards rethinking the various functions of a business entity to encompass ethics into their daily management activities has been undertaken as entities seek to be market leaders. Business ethics encompasses the relationship the company has with the employees, customers, shareholders and the community. Business ethics is the analysis of business activities and situations where issues pertaining what constitute a right or wrong act are dealt with through institutional processes (Jennings, 2011). Consequently, ethics involves ascertaining good practices from bad practices based on the context of morals. On the other hand, moral conduct is the behaviour exhibited by human beings that can either be right or wrong depending on the context whereas business ethics. Business ethics can be viewed from two distinct perspectives; descriptive ethics and normative ethics. Normative ethics ascribes to the justification of moral systems whereas descriptive ethics depicts what ethical practices are. Ideally, the paper will delve into more details concerning what business ethics entails and the importance of business ethics...
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...Creating and Maintaining an Effective Ethics and Business Conduct Program About DII The Defense Industry Initiative on Business Ethics and Conduct (DII) is an organization comprised of companies that provide systems, professional services, weapons, technology, supplies and construction to the U.S. Department of Defense. DII Signatory Companies are united in their commitment to adopt and implement the highest standards of business ethics and principles of conduct that acknowledge and address their organizational responsibilities under federal procurement policy and law. DII seeks to promote and nurture a culture of ethical conduct within every company in the defense industry. DII members, and the CEOs of every DII company, must abide by DII’s core principles. The DII Principles, updated in March 2010, state: We, the members of the Defense Industry Initiative on Business Ethics & Conduct (DII), affirm our commitment to uphold the highest ethical standards in all our business dealings with the government, as expressed through the following principles: 1. We shall act honestly in all business dealings with the U.S. government, protect taxpayer resources and provide high-quality products and services for the men and women of the U.S. Armed Forces. 2. We shall promote the highest ethical values as expressed in our written codes of business conduct, nurture an ethical culture through communications, training, and other means, and comply with and honor...
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...At First we should know what is Code of Ethics: A code of ethics forms a part of formal statement showing the value of the organization on the ethical and social issues, than we describe 3 companies which we have chosen Code of Ethics Apple Starbucks Code ofEthics AtFirstweshouldknowwhatis Code ofEthics: A code of ethics forms a part of formal statement showing the value of the organization on the ethical and social issues,than we discribe 3 companies which we have chosen Starbucks conducts its business operations in a volatile and competitive business-environment. The organization is committed to its core values and principles in order to comply with the laws of ethical conduct (Kazmi, 2002). Starbucks Standards of Business Conduct present a brief outline of the ethical and legal standards followed by the organization on a regular basis.Starbucks regularly undertakes an investigation of various kinds of possible violation of its principles, standards, the Financial Code of Ethics and reports under the Procedures (Corporate Ethics and Accountability, 2008). This ensures that all the departments functioning under the organization are working in a proper manner and conducting business in a fair and transparent manner (Starbucks-Standards of Business Conduct, 2008). Code of Ethics Apple Apple is committed to the highest standards...
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...Code of Ethics Teresa Sieck ETH/ 316 July 2, 2012 Ed McCullough Code of Ethics A code of ethics is a collection of principles practiced and followed by management of businesses and corporations around the world (Spiro, 2010). A businesses code of ethics works with a company’s mission statement and policies of conduct that gives employees, partners, venders, and outsiders an understanding of what the company stands for and believes in (Boylan, 2009). It should address the differences or variations in both company’s industry and its broader goals for social responsibility (How to create a company code of ethics, 2012). It should be strong enough to serve as a guide for employees with questions to resolve issues on their own if needed (Trevino & Nelson, 2007). Wal-Mart is one of the largest corporations in the United States. As one of the largest corporations the company has a social responsibility to their employees, customers, and the community. The code of ethics works with and around these principals. Wal-Mart has three basic principles, 1) respect for the individual, 2) service to the customer, and 3) striving for excellence (What is Wal-Mart’s Code of ethics, 2011). The following is an example of what a code of ethics could be and what values a business may have. Vision Statement: People are assets not possessions; employees, customers, and communities should be treated with fairness, respect, honesty and integrity. The corporation’s global vision is to...
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...Introduction………………………………………………………………………….……...3 2. Organization and business environment overview………………………………….….3 3. Code of Ethics Beiersdorf AG…………………………………………………….………3 4. Code of Ethics Procter & Gamble...…………………………………………….………..5 5. Code of Ethics related business issues in comparison………………………………..7 6. Summary………………………………………………..…………………………………..8 1. Introduction This paper is presented as the option B term paper for the Business Ethics elective course within the MBA program. The goal is to give an overview and an analysis of the codified Codes of Ethics of two major companies within the business field of consumer goods. The respective companies will be the Beiersdorf AG as the requested German example and actor in this field and Procter & Gamble as the world leading competitor in this area of business. The term paper will be structured in the following way. First the aim is to give a brief overview about the companies in question and the area they are doing business in. In a second step the Codes of Ethics of both enterprises will be analyzed using the framework and criteria for an effective Code of ethics which were presented in class. Thirdly, the aim is to give a personal opinion on the presented facts and compare the companies in their approach. The paper is going to be concluded with the presentation on historical and current issues of ethical questions which are applicable for Beiersdorf and P&G. 2. Organization and business environment overview Both companies which...
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...Code of Ethics Analysis Paper PHL/323- Ethics in Management March 24, 2014 Code of Ethics Analysis Paper In today’s business environment, codes of ethics serve the purposes of guiding the everyday conduct of professionals, and all those (consultants, volunteers, and board members) who operate within a particular business or organization. The everyday conduct of professionals becomes important when servicing consumers, and is known to directly impact the community. Because codes of ethic govern ones conduct, it is imperative for business to consider the effectiveness of such codes that are outlines in their profession. The purpose of this analysis is to analyze the code of ethics established by the Arrow. In conducting such an analysis, I will first determine what is to be considered based on importance, and why such codes are important, and a justification will proceed. After providing a justification on the importance of such ethics, I will then attempt to analyze Arrow’s code of ethics, by considering how the code will be implemented, possible reactions from employees, and the effects the code will have on the organization as a whole. System of Inquiry After much deliberation, the following will include a system of inquiry that will be used to analyze the code of ethics established by the Arrow. Areas of inquiry will include: the organization definition of ethics, people issues, consumer confidence, corporate social responsibility, leadership responsibilities/activities...
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...Codes of ethics and conduct have proliferated in part because of increasing public concern about the way companies do business. Codes of ethics, which govern decision-making, and codes of conduct, which govern actions, represent two of the most common ways that companies self-regulate. Although often associated with large companies, these codes provide direction to employees and establish a public image of good behavior, both of which benefits businesses of any size. A code of ethics is a document, usually issued by a board of directors, that outlines a set of principles that affect decision-making. For example, a code of ethics might stipulate that XYZ Corporation is committed to environmental protection and green initiatives. The expectation is that individual employees, when faced with the option, will select the greenest solution. The Caux Roundtable, a business-ethics think tank, argues for codes of ethics by noting that, "The self-interested pursuit of profit, with no concern for other stakeholders, will ultimately lead to business failure and, at times, to counterproductive regulation. Consequently, business leaders must always assert ethical leadership so as to protect the foundations of sustainable prosperity." A board of directors typically issues a code of conduct; however, it outlines specific behaviors that are required or prohibited as a condition of ongoing employment. A code of conduct might forbid sexual harassment, racial intimidation or viewing inappropriate...
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...Codes of Conduct and their affect on organizational performance Introduction According to Wikipedia, A code of conduct is a set of rules that listed all the responsibilities of or proper practices for the staff of the organization. All the employees in the organization should follow the code of conduct and have a common behavioral characteristics and work habits. This behavior has a common, internal communication and coordination will make it easier to achieve, for enhancing internal cohesion, improve efficiency across the organization, has a positive impact to the corporate image. Nowadays, codes of conduct are being rapidly adopted in the organization all around the world. The effects of codes of conduct on employee’s perceptions and behavior have been thoroughly addressed. According to Jill(2013), the Internal Control-Integrated Framework, issued by the Committee of Sponsoring Organizations (COSO) in 1992, defined Internal control into five elements: control environment, risk assessment, control activities, information and communication, and monitoring. In this five elements, the control environment is the most critical, but also the most difficult to effectively manage and evaluation. The COSO framework also points out that the control environment could help the organization to set the acting style and work atmosphere in order to motivate employees to form a line with the overall characteristics of the enterprise control consciousness. This kind of control environment is...
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...Creating an Effective Code of Ethics for Widget Tech Inc. 11/23/2009 David G. Montague | Summary Widget Tech Inc. is in need of update the company’s current code of ethics due to growth of the company and the changing workforce. Research has been conducted to revise the current policy and address topics that were previously overlooked. Widget Tech Inc. is a company that stresses both corporate and personal integrity. We not only comply with laws and applicable regulations; but we also strive to conduct our affairs according to the highest ethical standards. Employees are expected to be honest and forthright in dealings with managers, subordinates and with one another, as well as with clients, suppliers, government agencies and their employees, business partners and the general public. Widget Tech employees must maintain the highest level of personal integrity and encourage it in others; they must not lie, cheat, steal or do anything that would bring dishonor upon themselves or the company (SRA International, Inc. 2009). Review of Widget Tech Inc. Code of Ethics Table of Contents Summary……………………………………………………………………………………..………..2 Introduction……………………………………………………………………………….………..…3 How to Create a Code of Ethics………………………………………………..……....…3 Components of a Code of Ethics……………………………………………….……………4 Conclusion………………………………………………………………………………………….....5 Recommendation……………………………………………………….…………….…………….5 Sources………………………………………………………….………………….…………………….6 Introduction ...
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...LAWS 310 - WEEK 7 ASSIGNMENT: YOU DECIDE Widget Tech Inc. Code of Ethics Professor: Sheila Hostetler LAWS 310 Devry University Review of Widget Tech Inc. Code of Ethics Table of Contents LAWS 310 - WEEK 7: YOU DECIDE Summary…………………………………………………………………..………..3 Introduction……………………….…………………………………….………..…3 How to Create a Code of Ethics………………………………………….....…....…4 Components of a Code of Ethics…………………………………… .……………4 Conclusion…………………………………………………..…………………….....6 Sources…………………………………………………...…….…………………….7 Summary Widget Tech Inc. is in need of update the company’s current code of ethics due to growth of the company and the changing workforce. Research has been conducted to revise the current LAWS 310 - WEEK 7: YOU DECIDE policy and address topics that were previously overlooked. Widget Tech Inc. is a company that stresses both corporate and personal integrity. We not only comply with laws and applicable regulations; but we also strive to conduct our affairs according to the highest ethical standards. Employees are expected to be honest and forthright in dealings with managers, subordinates and with one another, as well as with clients, suppliers, government agencies and their employees, business partners and the general public. Widget Tech employees must maintain the highest level of personal integrity and encourage it in others; they must not lie, cheat, steal or do anything that would bring dishonor upon themselves or the company...
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...| Good Business Ethics | [Type the document subtitle] | | [Type the author name] | | Table of Contents Table of Contents------------------------------------------------------------------ 1 Executive Summary-----------------------------------------------------------------2 Introduction--------------------------------------------------------------------------3 Research Finding #1 Why strong ethical decisions are important to companies. ----4 Research Finding #2 How Ethics affect the bottom lines---------------------------------5 Research Finding # 3 How does a Company Keep Everyone on the Same Ethical Road? ----6 Recommendations-------------------------------------------------------------------9 Conclusion---------------------------------------------------------------------------10 References----------------------------------------------------------------------------11 EXECUTIVE SUMMARY * Business ethics have a strong impact on all companies. When a company is written up for unethical performances the profitability of the company will be affected in a negative way. Every business needs to have a code of ethics that relates to its mission statement. An employee code of ethics does not tell an employee how to handle or micromanage every situation that may arise. A good code of ethics starts with the company’s mission statement. The company can take its mission statement and intertwine the company’s...
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...1. Identify the nuggets from the two-day sessions of Business Ethics class and explain how would you apply those nuggets in your work place. ANSWER: Nuggets from the lecture Ethics defined as the study of right or wrong and as broadly as the general inquiry into what is good. Ethics examines the right or wrong within the context of moral duty. Business ethics is a form of applied ethic in business activity that examines ethical principle and moral or ethical problem that may occurred on business environment. It is applies to all business activity either to the conduct of individual or entire organization. Some business may have same issue related to the business ethic such as problem of product quality, transparency of the financial statement, environmental issues, human right, workplace quality and safety issue etc. In business a company shall create a regulation and code that will regulate the daily life and how business should perform in ethical way. Those we call it Code of Business ethic and Conduct. Code of business ethic and conduct for the company is very important to set up and regulate the life of company. It’s collection of principle in term how they believe and aims to live by. It is also reflected the corporate culture and its vision and mission of the company. How the code of conduct applied in Chevron which they call it “The Chevron Way”. The Chevron code of conduct built in line with their company’s vision and mission. Integrity is one of highest...
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...A code of conduct policy is very important to any business. This helps to show the employees about the expectations of the company as well as the expected ethical behavior. The key idea in any business is to maintain the highest degree of ethical standards as well as maintain profitable. The revenue and collection cycle, acquisition and expenditure cycle and the production cycle also play important roles in a business when it comes to ethical standards. For management and other employees, a code of conduct describes behavior expectations in written form or another form of communication that may be informal. Ethical codes do not always prevent unethical behavior but they do provide the employees as well as management legal and ethical standards which will help to influence their commitment and job performance to the entity’s system of internal control. A code of conduct is intended to be a central guide and reference for users in support of day-to-day decision making. It is meant to clarify an organization's mission, values and principles, linking them with standards of professional conduct. As a reference, it can be used to locate relevant documents, services and other resources related to ethics within the organization. A code is also a tool to encourage discussions of ethics and to improve how employees/members deal with the ethical dilemmas, prejudices and gray areas that are encountered in everyday work. A code is meant to complement relevant standards, policies and rules...
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