...Business Code of Ethics Michelle Leonhardt University of Phoenix Ethics in Management PHL/323 Dr. John Rhome Evaluating a Business Code of Ethics Businesses in today’s society share a purpose, a vision, that relates philosophy and principles of ethics to better meet the needs of the organization and stakeholders, including customers, employees, shareholders, suppliers, and communities. Without professional ethics, businesses and its programs would not have the ability to be successful. This paper will examine Humana, its business code of ethics, and its mission statement that assists in organizational values and goals of the company. The type of ethical system used by Humana will be explored, along with examples that support this system and its attributes. In addition, how the code of ethics is identified and used within the company will be addressed as it pertains to employees, management, and its board of directors. Upon further evaluation, this paper will explore the need for modification, if any, to their existing code of ethics. Reactions to the code of ethics, its effects of organizational culture on the code of ethics, and its effects on the organization will be defined. Lastly, this paper will provide an analysis of Humana’s business code of ethics and how the analysis exhibits significant key concepts to maintain and promote ethical decision making and business success. Business Code of Ethics and its Mission Statement Businesses developed codes of ethics starting...
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...ETHICS Introduction The behaviour of the practicing management accountant is prescribed and regulated by the management accountant's personal code of ethics, the code of ethics of the employer, societal norms, and the law. In addition members of the Society are regulated by the Society's code of ethics. As more organizations adopt codes of ethics, management accountants will increasingly be asked to design systems to control, evaluate, interpret or apply ethical judgement. The following develops the basis for forming ethical judgements. The management accountant fulfils four broad roles concerning ethics: 1. to ensure that management has developed and installed a comprehensive and internally controlled code of ethics. 2. to verify that the code of ethics and its controls are comprehensive and that everyone in the organization understands and complies with it. 3. to report to management any deviation from the code of ethics and its control systems. The Board of Directors may ultimately have to address any failures in the code or its controls. 4. to act in accordance with the code of ethics in making personal decisions. What are Ethics and Morals? Ethics are the rules people use to define and regulate moral behaviour. Morals distinguish right from wrong. Descriptive ethics are codes of ethics as actually practiced. Descriptive ethics provide no value judgements. Normative ethics, or moral reasoning, develops statements about whether a practiced ethical system is good or bad...
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...Of A Business Code Of Ethics YourFirstName YourLastName University title Introduction A chief executive officer cannot simply make the decision that is best for her without considering the interests of other employees, stockholders, customers, suppliers, creditors, and so forth. Integrity is the cornerstone of ethical business practices. Failure to build a business on integrity carries costs. For example, deceptive business practices may harm a company's standing in the community, decrease employee productivity, reduce customer loyalty, build resentment among employees, increase the likelihood of further unethical behavior by employees, and cause scrutiny by government agencies. Although the costs of some of these consequences are difficult to quantify, there is no doubt that they can be substantial. Evaluate chosen strategy King and Spalding is a legal firm that was founded in 1885, Atlanta. It has a total of 800 lawyers across the U.S, Europe, Asia and Middle East. Ethics Programs Companies frequently create ethics programs to establish and help maintain an ethical business environment. Some of the most common elements of ethics pro-grams at King & Spalding include written codes of ethics, employee hotlines and ethics call centers, ethics training, processes to register anonymous complaints about wrongdoing, and ethics offices. Ethics programs may include any combination of these elements. However, according to a recent survey, an ethics program with multiple...
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...Suggested Guidelines for Writing a Code of Ethics/Conduct Writing a Code of Ethics/Conduct Companies that follow both the letter and the spirit of the law by taking a “value-based” approach to ethics and compliance may have a distinct advantage in the marketplace. Give the average employee a legalistic “thou shall not….” code, and a negative response is almost guaranteed. Give employees a document that states clearly and concisely the company’s expectations, outlines acceptable behaviors, and presents viable options for asking questions and voicing concerns, and the likelihood is much greater that they will meet those expectations and exhibit the desired behaviors. Make the contents of the code equally applicable to everyone in the organization—at all levels—and you have a key ingredient for a code that becomes cultural, with all of the benefits. Code Basics There is no standard wording for a code of ethics/conduct. Each organization should develop one to suit the needs of its personnel in defining expected behaviors and in addressing the risks, challenges, and customs in the countries in which it operates, as well as to fit their specific industry and situation. However, there are some basic points to keep in mind when creating or modifying a code. • The code language should be simple, concise, and readily understood by all employees. • The code should not be legalistic—written as “thou shall not”— but rather state expected behaviors. • The code should apply to all employees...
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...Table of content 1. 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...
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...making throughout the organization is providing a written code of ethics for your business. By having a written code of ethics the importance and value of knowing right from wrong behavior is emphasized. This provides an atmosphere where moral values and principles are a priority. Instead of having employees unsure about making decisions, these written ethical principles deliver guidelines to maintain consistent and appropriate decisions. Having a code sets the tone and drives expectation for its use. It makes it clear that your company wants you to make the ethical choice, and they will support and defend you when you do. Another key to ethical decision making is training. This integrates the ethics code into the workplace. “These should be embedded as part of the culture in the organization” (Abdullah, 2013). Providing employees with tools for critical thinking and good decision making empowers employees from the very start. Training creates recognition for ethical issues and provides guidance for finding and making an ethical choice. It prepares employees for forward thinking to handle unanticipated situations and face new problems. It reinforces the significance of every employee’s responsibility to uphold the company’s principles. It gives the employee a chance to ask questions and have full understanding of the ethics code. It can be provided through a number of methods to meet varied learning styles. For example, visual learners may prefer newsletters and handbooks while...
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...Presentation to PICPA, 20 March 200 “THE NEW CODE OF ETHICS FOR CPA’s” Atty. Eranio L. Punsalan Chairman Ethics Board Philippine Institute of Certified Public Accountants PICPA New code of ethics for CPAs y Atty. Eranio L. Punsalan A Presentation to PICPA, 20 March 200 Agenda Code of Ethics for Professional Accountants in the Philippines Modifications to the IFAC Code to consider Philippine regulatory requirements and circumstances Contents of Code of Ethics for Professional Accountants in the Philippines Code of Ethics for Professional Accountants in the Philippines y Atty. Eranio L. Punsalan A Presentation to PICPA, 20 March 200 Code of Ethics for Professional Accountants in the Philippines What is the Code? • It is a 105-page document, 80% of which cover independence rules and interpretations. Effectively superseding the old code which was issued by the PRC & BOA in 1978. • It is based on IFAC’s International Code of Ethics for Professional accountants (with minor modifications). • It demonstrates PICPA’s (as member of IFAC) commitment to IFAC’s broad objective of developing and enhancing a coordinated worldwide accountancy profession with harmonized standard.
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...Running head: PROFESSIONAL VALUES AND ETHICS Professional Values and Ethics University of Phoenix Professional Values and Ethics What is the difference between values and ethics? Values are rules by which people make decisions about what is right versus wrong; good versus bad and what one should or should not do. The definition of values according to Dictionary.com is “the ideals, customs, institutions, etc., of a society toward which the people of the group have an affective regard. These values may be positive, as cleanliness, freedom, or education, or negative, as cruelty, crime, or blasphemy” (The American Heritage® Dictionary of the English Language, 2009). Examples of values include: respect, empowerment, commitment and teamwork. Ethics on the other hand, are generally a formal set of rules which are openly adopted by a group of people; such as a company’s code of conduct or a code of ethics handbook. The definition of ethics according to Dictionary.com states “a theory or system or moral values; the rules or standards governing the conduct of a person or the member of a profession” (The American Heritage® Dictionary of the English Language, 2009). Examples of ethics might include: bribery is not acceptable or treatment of customers. Many people question the values and ethics of professional establishments, especially those in the financial industries. American’s today are going through...
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...Professional Values and Ethics Name Gen 200 Instructor Name Date Team B Professional Values and Ethics Values and ethics are irreplaceable in the business world. Businesses live or die by their ethical reputations. It is very important to understand the importance of professional ethics and how they influence career success. Definition The simplest and most effective place to begin a discussion of ethics and values is with clear, concise, and generally accepted definition of the term values. Ethics are "a set of principles of conduct... that guide decision making and behavior" (uslegal.com, 2009). Values are "a set of principles or ideals that drive and/or guide your behavior" (essentiallifeskills.net, 2009). The philosophies and definitions of ethics and values appear closely related. Individuals and organizations’ Ethics and values appear internally driven and developed. Ethics can be thought of as a code of conduct derived from the value system. Environmental factors influence and determine ethics and values. These factors Include culture, physical environment, and peers. Ethics and values may not always...
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...issues, the differences between business ethics and personal ethics and list some examples of ethical issues in today’s business environment. The line between morals and ethics may seem blurred; however, some differences between the two do exist. Morals are defined as one’s personal values or beliefs. These values are typically established by religious beliefs or family influences. Ethics are defined as guidelines for behavioral standards. These guidelines are usually set in place by a specific group or groups of people. For example, businesses usually have a specific code of ethics that may differ from a religious group’s code of ethics. What is acceptable for one group or organization may be unacceptable to others. Business ethics are defined as codes or guidelines used to govern behaviors and practices within any given company. Typically all companies abide by a written code of ethics. These codes are used to ensure that employees understand and practice acceptable behaviors in the workplace. Usually a company’s code of ethics is influenced by the culture surrounding that business. In the business world, personal ethics will sometimes be put aside for the greater gain of the company. Ultimately, the needs of the company outweigh the needs of individuals. Personal ethics are defined as a set of guidelines that an individual follows when faced with making difficult choices and decisions. Personal ethics are established early in one’s life...
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...Code of Ethics Code of Ethics Assignment In accordance to the Code of Ethics group assignment, the selected situation discussed is scenario one, the “high profile” patient. The patient is famous and constantly overseen for their activities. As this patient’s nurse, we have been approached by People magazine and asked to serve as an informer. The magazine is offering a substantial amount of money for the patient’s information. However, using the ANA Code of Ethics, we have identified Provision Three as the best ethical approach to the scenario. Part Two Ethics is an integral part to the foundation of nursing. Historically, nursing care is vital for the welfare of the sick, injured, vulnerable, and for social justice. This concern is embodied in the provision of nursing care to individuals and the community. Nursing encompasses the prevention of illness and the alleviation of suffering. Nurses provide the protection, promotion, and restoration of health in the care of individuals, families, groups, and communities. Individuals who become nurses are expected not only to adhere to the ideals and moral norms of the profession, but also to embrace the part of what defines a nurse. The Code of Ethics for Nurses developed by the American Nurses Association explicitly states the primary goals, values, and obligations of the profession. Part Three According to the American Nurses Association’s Guide to the Code of Ethics for Nurses Interpretation and Application, Provision Three...
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...Ethics Essay ETH/316 ETHICS AND SOCIAL RESPONSIBILITY Ethics Essay One of your friends uses the terms ethics and morality interchangeably. You do not think this is correct. How would you explain the difference between ethics and morality? Provide an example of morality and one of ethics in your explanation. Ethics are codes of conduct that pertain to a community, family, company or a nation. On the other hand, morality refers to personal sets of beliefs about what is right and wrong. People have their own morals that may or may not be in sync with society’s ethics. Morality and ethics are two words that are closely interrelated. This is why it is common for people to make incorrect usage. It is better to understand the meanings of two words before highlighting their difference. While ethics refers to a code of behavior in reference to a group, whether it is family, community or a nation, morals are more personal in nature. Ethics in a social system refers to a philosophy morality finds application. Ethics is a very broad term and you can have family ethics, company ethics, social ethics or even national ethics. These are socially accepted codes of behavior applicable in immediate surroundings. For example, there are do’s and don’ts in a company that makes up its ethics and when you are inside the premises of a company, you behave accordingly while you are much more relaxed when you are in your family where there might be another set of ethics. Ethics are principal...
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...Evaluation of a Business Code of Ethics Evaluation of a Business Code of Ethics Business codes of ethics are written guidelines use by an organization to set the standards for employees and management conduct and behavior ("Businessdictionary.com," 2013). Business code of ethics is important to deal with ethical the rules and principles needed for a successful business. Also known as code of conduct a business code of ethics reflect an organization values, ethics, objective, and responsibilities ensuring corporate responsibility, quality assurance, and customer satisfaction creating excellence, accountability, and transparency. In this paper an explanation and description of some general information concerning Starbucks mission, and ethical system uses with examples of their uses. The essay will also identify how the code of ethics affects employees, managers, and board of directors within the organization. An explanation of the organization need to modify the existing code of ethics and the best method to implement these changes will be discussed. Furthermore, a discussion of the possible reactions from employees, managers, and the effects the code may have on the organization will be provided. Starbucks general information general information, mission statement, and code of ethics Starbucks first opened in 1971 in Seattle historic Pike Place Market owned by three partners Jerry Baldwin, Zev Siegel, and Gordon Bowker. During the first decade,...
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...Analysis of Ethical Corporate Culture between 2013 and 2015 Group 6: Michelle Delgado Lok Sum Lydia Fung Chau Nguyen ACCT 415 Dr. James Gong 5/14/2015 Executive Summary In business, leaders, managers, and employees face conflicting incentives, messages and pressures from multiple stakeholders. Conflict of interest is said to occur when a professional’s self interest offers an incentive that mitigates his or her judgment against the best interest of the corporation or its customers. In turn, most professionals are unaware of their unethical progression because they are blindsided by internal motivation and expectations. It has been proclaimed that the most important job of the board of directors is hiring the right CEO, causing most boards to fail to notice unethical behavior in someone they do not wish or expect to find it. In fact, research suggests that it is usually difficult to report wrongdoing in an organization because most employees believe the same and fear retaliation, rejection, or disbelief from corporate leaders. Ethical principles will often offer advice for procedures and norms that can reinstate ethical concerns before unforeseen behavior damages an enterprises culture or reputation. In general, ethical systems are designed to improve the ethical behavior within an organization. To do so requires examining the interaction of many factors and forces in a working environment - which were investigated (analyzed) in this report. Executives...
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...what questions to ask and what causes should be reflected. The difference between ethics and morals can seem slightly logical to many. Morals describe individual character, while ethics stress a social system in which those morals are related. In other words, ethics point to principles or codes of behavior accepted by the group to which the individual fits. So while an individual’s moral code is normally unchanged, the ethics he or she practices can be other-dependent. An example of ethical and moral issue would be the ex-mayor of Detroit, Kwame Malik Kilpatrick. He used the city own cell phone to communicate with his child hood friend and lover to meet up for nights of intimacy or private talks. Mr. Kilpatrick illustrated adultery, disrespect to the people of Detroit and shame and humility to himself. In spite of all of that, Mr. Kilpatrick still have not learned his lesson by incurring new criminal charges with tax evasion with the federal government. A personal code of ethics is the heart of who a person is and his or her views. It's created on the rules and regulations an individual uses to manage his or her life, as well as the method in which he network with others. A personal code of ethics is an essential element to attain achievement or overcome hardship. In the absence of guidelines, it's hard to hold oneself responsible for poor decision-making or bad conduct. A personal code of ethics must have a certain dedication. In most cases, it is used to amend or remove an...
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