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 needs. 6. The artistic model: this model encourages the organization to become a creative instrument serving the cause of an advanced civilization with a better quality of life. The organization people perform in the manner of artist, building some of their own creative ideas into the institution actions, leading it toward new contribution not originally contemplated.

Question: What are