...ought to have ethical standards that are effective in guiding the ethical conduct of internal stakeholders. Importantly, internal stakeholders should understand and follow the standards. An organization that has an effective ethical policy for guiding the conduct of stakeholders is perceived as being socially responsible. Time Warner Inc.’s ethical policy is quite elaborate. Firstly, the company has a code of ethics that is meant to guide the conduct of workers. Secondly, the firm has ethical standards meant to guide directors’ conduct. As well, the company has a code of ethics that guides the way internal stakeholders undertake transactions (Time Warner Inc, 2014). Similarly, Mattel has an elaborate ethical policy that defines ethical responsibilities of all internal stakeholders (Mattel, 2011). However, the ethical policies of General Electric and Merck are not comprehensive. The two organizations have brief codes of conduct that do not offer direct definitions of ethical responsibilities of the internal stakeholders (General Electric, 2015; Merck, 2015). A sales representative working for Time Warner Inc or Mattel is likely to behave in the same way since his or her ethical conduct is guided by the firms’ comprehensive and effective ethical policies. However, a sales representative working for Time Warner Inc or Mattel is likely to behave differently from a sales representative working for General Electric or Merck. This is due to the fact that there are no comprehensive...
Words: 393 - Pages: 2
...LABOR LAW 2006 AND 7 GENERAL CODES OF CONDUCT By Ameena Chowdhury Hanna Denecke Dhaka, October 21, 2007 PROGRESS (promotion of social, environmental and production standards in the ready-made garment sector) is a joint program of the Bangladesh Ministry of Commerce and the German Federal Ministry of Economic Cooperation and Development (BMZ), implemented by GTZ. Executive Summary The Readymade Garment (RMG) sector in Bangladesh is a highly export oriented sector and therefore extremely volatile to requirements of international buyers. Since the adherence to international social standards has become a mandatory requirement in the international business arena, the local suppliers have to be compliant to these standards in order to remain in business. There have been some significant revisions to the Bangladesh Labor Law in 2006. This newly revised law already covers a lot of the common standards like employment conditions, occupational health and safety issues as well as the ILO core labor standards. Besides being complaint to the national labor law, the suppliers must also adhere to the international standards. These international standards may be defined through their individual buyers’ codes of conduct or general codes of the conduct. Compliance to the buyers’ codes of conduct is mandatory but compliance to the general codes of conduct is optional unless...
Words: 15237 - Pages: 61
...ought to have ethical standards that are effective in guiding the ethical conduct of internal stakeholders. Importantly, internal stakeholders should understand and follow the standards. An organization that has an effective ethical policy for guiding the conduct of stakeholders is perceived as being socially responsible. Time Warner Inc.’s ethical policy is quite elaborate. Firstly, the company has a code of ethics that is meant to guide the conduct of workers. Secondly, the firm has ethical standards meant to guide directors’ conduct. As well, the company has a code of ethics that guides the way internal stakeholders undertake transactions (Time Warner Inc, 2014). Similarly, Mattel has an elaborate ethical policy that defines ethical responsibilities of all internal stakeholders (Mattel, 2011). However, the ethical policies of General Electric and Merck are not comprehensive. The two organizations have brief codes of conduct that do not offer direct definitions of ethical responsibilities of the internal stakeholders (General Electric, 2015; Merck, 2015). A sales representative working for Time Warner Inc or Mattel is likely to behave in the same way since his or her ethical conduct is guided by the firms’ comprehensive and effective ethical policies. However, a sales representative working for Time Warner Inc or Mattel is likely to behave differently from a sales representative working for General Electric or Merck. This is due to the fact that there are no comprehensive...
Words: 393 - Pages: 2
...Codes of Conduct 1. Comparison of Codes of Conduct: SAICA, CLASA and SASOL |1.1 Purpose of the Codes: | |All three above-mentioned Codes do have a clear purpose. | |SAICA: |CLASA: |SASOL: | |Professional code of conduct for accountants |Professional code of conduct for “corporate |Organisational code of conduct to employees | |and auditors |lawyers” |of the organisation | |SAICA: This code deals with professional attitudes and behaviour. A profession is distinguished by the following characteristics i.e: | |Mastering a particular intellectual skill | |Acceptance of duties to the society as a whole as well as to client and employer | |An objective outlook | |Rendering personal services to a high standard of conduct and performance | | ...
Words: 1319 - Pages: 6
...successful chain restaurants in recent years because they have provided great food and outstanding customer service in a fun atmosphere. The cheesecake factory employs a high standard of general conduct and moral aptitude. As a chief executive officer in today’s society, it is my responsibility to ensure The Cheesecake Factory abides by the laws and ethical duties that are mandated by today’s society. There is a copious amount of benefits to being a chief executive officer, however there is an equal amount of risk as chief executive officers are held liable for almost any action or infraction that their company has induced. The Cheesecake Factory requires all their employees to comply with a high standard of conduct by enforcing a strict code of ethics. The key elements of our code of ethics is the general standards of conduct, compliance with the laws, the obligation to communicate and the professionalism and conduct of our supervisors. The general standards of conduct promotes a “relationship of trust, loyalty, honesty and responsibility among staff members at all levels” (The Cheesecake Factory Incorporated, 2006). One major component to the general standards of conduct is the dignity and respect that each staff member is responsible for treating each other with and extending that same conduct to our guests. When a staff is treating each other with respect and dignity, it promotes a pleasant atmosphere because the staff tends to receive more enjoyment and satisfaction from their...
Words: 690 - Pages: 3
...Professional Essay Name: Institution: Date: The submission date of an assessment is a significant assessment benchmark that can be used as a performance measure in the assessment of university courses. As a performance qualifier, a submission date is perhaps the best standard to quantify and guide the appropriation of performance levels to Higher Education courses and modules. In this sense, the submission date helps the markers to allocate credits to students’ work by determining the key inquiries of performance qualifier standards, that is, what should be done how well is it done and within what period of time. A student’s ability to work within the submission date is part of the objectives of university course assessments that is used to measure and make judgment on graduate qualities as demonstrated by the particular student (University of Ulster, 2012). The submission date gives a student a defined time period for research and compiling of the information for the assessment in question. This is instrumental in a student’s self-assessment of their progress as well as in appraising their abilities in relation to their course of study. The ability to work within the deadline provided by the submission date is an important determinant of whether a student is suited for the demands of their course of study (Harvey, 2012). As such, this aids both the student and the university in making progress decisions concerning the student such as which grade the student is to be...
Words: 1251 - Pages: 6
...Accounting professionals are obliged to comply with certain standards in an effort to protect shareholders and the general public. When one joins any of the accounting professional organizations, such as the American Institute of Certified Public Accountants (AICPA), the Institute of Internal Auditors (IIA) or the Institute of Management Accountants (IMA), one is agreeing to adopt the ethical code. This professional code is a positive set of statements and guidelines for CPAs with explicit rules as to what accountants should or shouldn’t do. It applies to all members, whether it is public practice, industry, government or education. There are many reasons why one would want the accountant representing them to adhere to a specific rules and regulations. From an investor’s point of view, one would want an accountant that is going to have their best interests in mind, but to also be morally and ethically bound to perform within legal confines. Sometimes actions may be considered within acceptable limits of the law, but not ethically suitable; in such instances, the code of ethical conduct is even more important. Investors want insurance that the corporation with which they are financially backing is transparent. Transparency, which from an accounting/corporate standpoint, is the free flow of information within an organization and between the organization and its many stakeholders. This transparency and accountability improves the credibility and the relationship between...
Words: 1531 - Pages: 7
...com/AMTMCC-v1.0.htm Summary: Aviation Technicians Model Code of Conduct My internet research led to an excellent web-resource designed to provide aviation workplaces with a template for tailoring their own work place Code of Conduct. In the introduction, it describes the code of conduct as a tool, if this tool implemented correctly will provide a path of career advancements for AMTs. The principles of the conduct of conduct are broken into seven sections covering everything from general responsibilities, training, use of technology, advancements to mention a few. Farther down on the model the benefits of the code of conduct are layout in detail. I would sum up the benefits as simple providing AMT with the sense of a higher purpose or morals that will benefit any work place environment. If you were still convinced, the principles are broke down even further. For example, under section I General responsibilities of Aviation Maintenance Technicians it lists nine things AMTs should do. The list starts with “make safety their highest prior” what boss or supervise could disagree with that. With emphasizes on safety, excellence, risk management, and responsibility at the forefront throughout this document its use seems to be a no brainer. Below each principles section is a samples of recommended practices, this area dives deeper into not what a AMTs should do but how an AMT can meet the intent of the code of conduct principles. In summary, I after a thorough review of...
Words: 402 - Pages: 2
... Professor Mark Malone BUS100058VA016-2411-016: Intro to Business February 24, 2013 Abstract The Code of Ethics and the Code of Business Conduct for the Cheescake Factory. “Oscar and Evelyn Overton realized their dream - to own a successful business. Evelyn created her Original Cheesecake recipe that everyone loved. By the late 1940's, she opened a small shop in Detroit. In 1972, Evelyn and Oscar, now in their early 50's, decided to move their cheesecake business to Los Angeles. 1975 marked the beginning of the most creative and productive period of their business endeavors. With their new and improved bakery, Evelyn created over 20 varieties of her delicious cheesecakes and other fantastic desserts. The restaurant was an immediate success! Just over 30 years later with close to 170 locations, the success of The Cheesecake Factory has even surpassed the Overton’s wildest dreams making The Cheesecake Factory a great American success story.” http://www.thecheesecakefactory.com/aboutUs. All organizations and businesses have a standard by which they hold their employees too. A code of ethics and in the business world there is the “Code of Business Conduct.” The Cheescake Factory has both. There is the Code of Ethics for Executive Officers, Senior Financial Officers and Directors. The Cheescake factory also has a Code of Business Conduct. A Code of Business Conduct serves as a guide for the actions of employees to be consistent with their company’s values. As a CEO...
Words: 1265 - Pages: 6
...Chapter – 10 : Business Value and Codes of Conduct Question: What is code of conduct? All business must meet certain standards of law and minimum culture standards. All are further influenced by the general culture milieu of their time. But in spite of these tendencies toward uniform conduct, there is important difference among businesses. Each has its own personality, as each human being does. These organizational differences are reflected in company codes of conduct and they are doing produce different result. Question: Describe the model of business code of conduct. Or, Discus the model of business code given by Walton. As a guide to understanding different types of business conduct. Walton classified six models of conduct. 1. The austere model: it gives almost exclusive emphasis to ownership interests and profit objectives. 2. The household model: following the concept of an extended family, this mode emphasizes employee jobs, benefit and paternalism. 3. The vendor model: in this model, customer interest’s tastes and rights dominate the organization. 4. The investment model: this model focuses on the organization as an entity and thus on long-term profits and survival. In the name ode lightened self-investment it gives some recognition to social investments along with economic ones. 5. The civic model: its slogan is corporate citizenship. It goes beyond imposed obligations, accepts social responsibility and market positive commitment to social...
Words: 1584 - Pages: 7
...the employees of our company and ultimately our company itself follow our code of conduct. It has been discussed that “Key “ethics-related actions” (ERAs) observed in organizations with strong ethical cultures include (1) management communicating ethics as a priority, (2) management setting a good example of ethical conduct,(3) coworkers considering ethics when making decisions, and (4) coworkers talking about ethics in the work they do.”1 I truly believe this to be the case. The question is how do we go about this? Once a code of conduct has been determined and needs to be implemented I would follow the following set of strategies to make it permeate the company culture. “Dissemination, training, continuous employee engagement, effectiveness monitoring and feedback solicitation”1 are the tools or strategies that I recommend. Dissemination is simply making sure that all employees are exposed to the code of conduct. The ideal way to implement this is to have classes focused on the different employee groups to be able to train the code of conduct at an appropriate level for each group, answer questions and get a sign off that the employees were indeed trained in the code of conduct. During the dissemination phase I would also recommend using flyers, handouts, emails and other documents to distribute to employees as a written form of the code of conduct. This will place the idea of a code of conduct in every employee’s mind by simple exposure. Training as the next strategy...
Words: 2092 - Pages: 9
...A corporate code of conduct is called a code of ethics or corporate compliance. A code of conduct is the core of a company’s internal foundation. It can motivate the workforce and give them a common framework and regulations on how to perform their jobs within the company’s vision. It is valuable to have a document that speaks to a company’s values and gets all employees on the same page, so to speak. Further, in a large company with employees in different locations, maybe even different countries, a code of conduct can bridge the ethical gaps. Wal-Mart’s own Code of Conduct was developed in 1992, arguably in reaction to the sweatshop allegations involving clothing manufactured as part of the Kathie Lee Gifford clothing line (Kenny, 457). At its beginning, the Code was to apply to all suppliers both nationally and internationally. The Code of Conduct was meant to be incorporated into its supply contracts with foreign suppliers. Although the Code has undergone numerous revisions since 1992, all of the versions claim to extend fundamental rights to workers in Wal-Mart supplier factories (Kenny, 458). On September 13, 2005, for example, workers from China, Bangladesh, Indonesia, Swaziland, and Nicaragua sued Wal-Mart in Superior Court in Los Angeles for breach of contract as third-party beneficiaries to Wal-Mart Stores, Inc.’s supply contract with garment factories located in those respective countries. The suit, brought by the International Labor Rights Fund (ILRF)...
Words: 889 - Pages: 4
...I consider the Code of Conduct to be used as a platform of rules, or values, for CPAs while engaged in all types of assurance, non-assurance services, and should apply to all auditing functions in any given business environment, including government and non-for-profit companies. Furthermore, I feel the three key elements of the code that all CPAs should adhere to are the Integrity and Objectivity Rule, General Standards, and Acts Discreditable Rule. As a final point, could these codes of conducts also correlate to any Ignatian element of Spirituality? The first code of conduct I consider important deals with integrity, or being honorable, and objectivity, maintaining an open mind, while engaging in any services provided by a CPA. These traits hold the CPA accountable for any implicit misstatements of business information. This includes, according to Whittington and Pany (2015) “…directing others to make, materially incorrect entries in a client’s financial statements or records” (Whittington and Pany 2015, p90). Since CPAs firms may have subordinates, or non-CPAs, working for them they cannot or should not use their CPA authority to influence others in doing what could be contrived as unethical and or illegal actions. Without integrity and objectivity attributes, the public trust of a CPA will diminish. The second is the General Standards Rule and seems to govern four main aspects of any type of CPA work: competence, professionalism, planning and leading...
Words: 935 - Pages: 4
...activities and compliance with both the letter and spirit of the law. We expect that you will reflect these standards in your day-to-day dealings on our behalf. This Code of Conduct is for all employees, Officers, and all members of the Board of Directors. It is a guide to ethical behavior. Chipotle has an “open door” policy with respect to any concern relating to compliance with the Code of Conduct and other Company policies, and no person will be subject to disciplinary or other retaliatory action by raising any concern in good faith.. Definition of the Code of Conduct The Code of Conduct includes this introductory section, "Integrity Statement," "Anti-Discrimination, Harassment and Sexual Harassment Policy," "It’s the Law,” and "Chipotle Confidential." Approval of any activity or matter not in compliance with this Code must be sought in advance and, unless otherwise provided for in the Code of Conduct, may be granted only by a Chief Executive Officer. In the case of members of the Board of Directors and Officers of Chipotle, approvals may be granted only by the Board of Directors or an appropriate Board committee. Compliance with the Code If you become aware of a breach or violation of this Code or any other Company policy, you should report the breach or violation in the manner described in this Code under “Chipotle Confidential.” Chipotle will do its best to protect the anonymity of any reporting employee who so requests it, as well as the confidentiality of...
Words: 895 - Pages: 4
...Chapter 03 Professional Ethics True / False Questions 1. The Rules portion of the AICPA Code of Professional Conduct must be followed by only those members in private practice. True False 2. The AICPA Code of Professional Conduct derives its authority from the Bylaws of the AICPA. True False 3. An immaterial loan from the CPA to an officer of a client impairs the independence of the CPA. True False 4. Financial interests of a CPA's nondependent children are attributed directly to the CPA. True False 5. Statements on Accounting and Review Services are enforceable under the AICPA Code of Professional Conduct. True False 6. CPAs may not advertise as to any special expertise other than in accounting, auditing, and tax. True False 7. A CPA may receive a commission for recommending a particular computer system to an audit client. True False 8. The communications between CPAs and their clients are privileged under federal law. True False 9. CPAs can advertise the fees only for their nonattest services. True False 10. The American Institute of Certified Public Accountants has been the primary source for ethical rules for internal auditors. True False Multiple Choice Questions 11. ABC Company is audited by the Phoenix office of Willingham CPAs. Which of the following individuals would be least likely to be considered a "covered member"...
Words: 7406 - Pages: 30
