...The Importance of Ethics and A Code of Conduct In Today’s Business Environment By Joe Cooper – 09/05/2013 Ethical and moral standards are the foundation of any company, big or small. In an effort to move beyond mere legal compliance, many companies today develop and institute a foundation of integrity-based ethics. These foundational elements include laws and regulations as well as a core set of operating principles and values, which a company follows when conducting business with its customers, employees, shareholders and the community. This framework drives everything a company does, day-in-and-day-out. The code of ethics must not only be adopted and unconditionally supported by the leadership team, it is critical that it is supported and enforced at all levels of the company. Integrity based ethics must become the culture of a company not merely displayed on a website, poster or touted at an all-employee meeting. It is sad to say, but in the past decade, violating company ethics can be a daily occurrence. And it happens at all levels; from leadership down to the entry-level employee. Some of these violations are also violations of state and federal laws. We have seen a number of CEO’s and company leaders not only lose their jobs, but also are prosecuted and even sent to prison. The leadership team sets a company’s culture. I believe that a team is only as good as it’s coach. I feel that it is critical that a company’s leadership team not only talk the talk but...
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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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...Is Sales-Ethics an Oxymoron? Globalization highlighted the ethical issues and concerns for every individual organization, multinational organizational conduct their operations under ethical code of conduct to confine the issues faced by unethical conducts. Many organizations such as pharmaceutical firms, technological firms and financial firms pay more attentions to ethical behavior to ensure the sales to consumers have been impeccably ethical. However managers pay attention to behavioral ethical conducts that ensure the professional attitude of sales force towards consumers/customers (Chen & Tang, 2006, 69). Recent unethical conducts by Enron and WorldCom highlighted the attention for sales and ethical behavior, because unethical conduct and sales ethics can ruin the whole organization wide reputation (McDevitt et al, 2007, 73). Business ethics is counter stone for doing business in industry that however considered by every single organization, which eventually encourages every single business entity to develop the organization’s processes based on ethical conducts. Business ethics and sales ethics both entails the same meaning because ultimately salesperson engages in the business activity to generate profits for business, but on contrary “business ethics” and “sales ethics” have no contradiction in associations. Sales ethics on the other hand have some stereotype meaning because business and sales people are not always ethical; leaving us with a dilemma that indicates...
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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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...Code of Ethics In March of 2005, Boeing’s Board, “asked for and received” CEO Harry Stonecipher’s resignation, this action was taken following an investigation into a personal relationship between Stonecipher and a female executive of the company (MSN Money, 2005, p.1). Stonecipher was brought in to put a series of scandals behind the company and had been credited with a more aggressive marketing approach. As a result of this ethics scandal, responsibility for reinventing the “Ethics and Business Conduct Program” fell to the Ethics and Business Conduct Committee within Boeing. An intricate part of the Revised Ethics and Business Conduct Program is the corporate purpose and commitment: “Purpose / Summary- This procedure provides an overview of the Boeing Ethics and Business Conduct program and employees’ responsibilities. It establishes the company’s ethics and business conduct education requirements and gives information on how employees can resolve business ethics concerns. This procedure applies to all employees of The Boeing Company, including subsidiaries, contingent labor, consultants and others acting for the company unless otherwise approved by the vice president of Ethics and Business Conduct” (Boeing, 2007, p. 1). “Company Commitment-The company is committed to fostering an environment where integrity is valued and is the foundation for all decisions. The company will maintain a culture that encourages open and honest communication...
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...and employee ethics and how it influences Business Ethics. Context In this business memo I will first be discussing how age and employee ethics influences business ethics. Secondly, I will be discussing how age plays a part in employee ethics. Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arises in a business environment. It applies to all business conduct and is relevant to the conduct of individuals and entire organizations. Employee ethics is our actions when at our work place. Our actions at our work place are defined and directed by a set of rules called employee ethics, also commonly known as a code of conduct. Assertion #1 Age and employee ethics play a role in business ethics. Both play a role in business ethics because within a business or corporation, the environment may be filled with employees of diverse ages and people who act ethical in different ways. Although a business or corporation may have employees of many different ages, it is a moral responsibility of all the employees to maintain a healthy work environment by maintaining their ethical standards and procedures to the utmost precision. However, because there may be a diverse age group of employees within a business, you may find in a business that younger employees may have problems with acting responsible and with high diligence. You may find this an issue with the younger employees of a business because younger...
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...Chapter 1 ETHICS & BUSINESS ETHICS AN INTRODUCTION TO ETHICS Ethics is not a recent discovery. Over the centuries philosophers in their struggle with human behavior have developed different approaches to ethics, each leading to different conclusion. The word “Ethics” which is coined from the Latin word ‘Ethics’ and Greek word ‘ethikos’ pertains to character. Ethics is thus said to be the science of conduct. As a matter of fact it deals with certain standard of human conduct and morals. The field of ethics involves systematizing, defending and recommending concepts of right and wrong behavior. Ethics is a mass of moral principles or set of values about what is right or wrong, true or false, fair or unfair, proper or improper, what is right is ethical and what is wrong is unethical. MEANING AND DEFINITION OF ETHICS Peter F. Drucker writes- “There is only one ethics, one set of rules of morality, one code that of individual behavior in which the same rules apply to everyone alike.” Philip Wheel Wright says- “Ethics is the branch of philosophy which is the systematic study of selective choice, of the standards of right and wrong and by which it may ultimately be directed.” Swami Vivekananda has set the tone for ethics. He says- “Supreme oneness is the rationale of all ethics and morality. Ethics cannot be derived from the mere sanction to any personage. Some eternal principle of truth has the sanction of ethics. Where is the eternal sanction to be found except...
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...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...
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...COVER SHEET Vee, C. and Skitmore, R.M. (2003) Professional ethics in the construction industry. Engineering Construction and Architectural Management 10(2):pp. 117-127. Copyright 2003 Emerald. Accessed from: http://eprints.qut.edu.au/archive/00004119 PROFESSIONAL ETHICS IN THE CONSTRUCTION INDUSTRY Charles Vee and Martin Skitmore School of Construction Management and Property Queensland University of Technology Gardens Point Brisbane Q4001 Australia For Engineering, Construction and Architectural Management Corresponding Author: Professor Martin Skitmore School of Construction Management and Property Queensland University of Technology Gardens Point Brisbane Q4001 Australia 14 June 2002 (version 2) PROFESSIONAL ETHICS IN THE CONSTRUCTION INDUSTRY ABSTRACT The results are provided of a small, but reprersentative, questionnaire survey of typical project managers, architects and building contractors concerning their views and experiences on a range of ethical issues surrounding construction industry activities. Most (90%) subscribed to a professional Code of Ethics and many (45%) had an Ethical Code of Conduct in their employing organisations, with the majority (84%) considering good ethical practice to be an important organisational goal. 93% of the respondents agreed that “Business Ethics” should be driven or governed by “Personal Ethics”, with 84% of respondents stating that a balance of both the requirements of the client and the impact on the public should...
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...Nathan Schmidt Discussion Week 1 What is the difference between morals and ethics in the workplace? Might something be ethical but immoral? What about unethical but moral? Which is more important to an organization, to be ethical or moral? Why? Morals and ethics relates to individual character, ethics, and morals but also applied in business world. Ethics stresses a social systems to which application of morals that influences ethical behavior at work whereas morality consists of rules of human behavior and specifies that certain behavior or actions are wrong or immoral and others are right or moral (De George, 2010). The decision’s one makes, whether it is for personal or professional reasons falls into either an ethical or moral decision making category. Morals define personal character. Moral decisions are based upon the beliefs of the individual while ethical decisions are guidelines, standards, and laws that affect the business professional’s decision-making process. In an ethical climate, people are held accountable and decisions are made based on what is in the best interest of the company or its employees and not what nets the greater financial gain for an individual at the expense of the company’s ethical fiber. Issues that arise in business can sometimes be ethical but immoral or vice versa. Business organizations face ethical and moral decisions daily. Ethics in business are central in the organization as it provides standards that form the moral integrity...
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...RUNNING HEAD: THE IMPORTANCE OF ETHICS IN THE BUSINESS WORLD BY Marie J.Lucel MAN 2604 International Business Submitted to: Professor McFarlane Donovan Department of Business Administration Broward College North Campus Coconut Creek, Florida April 01 , 2013 The Importance of Business Ethics in International Businesses Abstract Keywords: Business ethics, corruption, human rights, conducts employment practices, environmental regulations, conflicts of interests, General Policy and Procedures, and moral obligation of the multinational organization. Introduction Businesses are faced with very real ethical dilemmas where the appropriate course of action is not really clear. Some of these are the ethical obligations of a multinational corporation toward their employment conditions, human rights, environmental pollution .Understanding the nature of ethical problems and deciding what actions to pursue when confronted with .Ethical problems frequently occur in International Business. Basic human rights are not accepted in international business, which include freedom of speech, freedom of assembly, freedom of movement, freedom of political repression and so on. In international corruption is so widespread in some countries that politicians and bureaucrats regard it as a benefit of office and openly as break laws against corruption. Corruption is seen and treated as illegal, and when discovered, violators are punished by the full extent of the law. In some countries...
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...Running Head: General Dynamics Ethics Program General Dynamics Ethics Program General Dynamics Ethics Program Abstract General Dynamics Corporation is ranked 291 amongst the World’s Fortune 500 Companies. General Dynamics maintains the highest ethical standards in business practices and employee relations. Its formal ethics program started in 1986 and applies to all employees. The ethics policies of General Dynamics clearly state the company’s expectations of all employees’ when conducting business with customers, suppliers, or each other. They practice and reinforce the ethical principles of integrity, honesty, respect, and the prohibition against retaliation for any person who raises in good faith an ethics or compliance issue. The core business ethics principles of General Dynamics is to use assets wisely; offer a fair deal; deliver on promises and earn a fair return. The company strives to detect unethical conduct early. The ethics program includes a 24-hour-a-day, seven-day- a-week, confidential Business Ethics Helpline. Recovery and crisis management are a fundamental part of the ethics network if and when the time arises. General Dynamics is prepared to stay out in front of possible ethical dilemmas and portray their ethical vision and goals from all levels within the organization. Background The Chief Executive Officer is Mr. Jay Johnson and they employ over 90,000 personnel. General...
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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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...| 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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