Ethics



Ethics

Section 1

Necessity of policy

The necessity of policy of code of conduct is very necessary in given scenario. The business code of ethics is pillar for any relation with other company. It assists company is managing their relations by setting out certain codes and guidelines for doing business keeping in mind the ethical borders of the business. In the given scenario the code of business conduct helps the company and all its members to their development as persons and professionals, improving and updating its image and behavior with the highest standards of professional etiquette and to have new forms of communication with customers who are dissatisfied by company products or services (Audi, 2009). Whether we talk about public or private entities, the importance of having a code of conduct within them is an essential element for employees and managers act in accordance with ethical standards, corporate values and behavior as well procedures to ensure its compliance.

There are several situations which defines the importance and necessity of having codes of conduct that most of them are in the sense that they are documents written voluntarily by a company which set out a number of principles that unilaterally undertakes to follow. In some cases, it is most advisable, codes of conduct to reach the suppliers, subcontractors and third parties in order to conduct their business with the same philosophy ethics and conduct that the company contracting their services (Sharp, 2006). Regarding the modalities of situation depending on the activity undertaken in the company or organization, many codes converge in international best practices, which are among others, issues related to personal behaviors and corporate rules governing the acceptance of favors, confidentiality information principles: a) only to top management, b) designed to prevent conflicts of interest; c) To prevent abuse of the position; d) regarding the handling of records, to ensure fair and equitable treatment of all customers, procedures for dealing with employees and commitment to comply with all applicable laws, codes and regulations to the letter (Barth, 2003).

Establishment of Code of Conduct

The establishment of code of conduct for the company should pursue various purposes but I consider the priority is the care of the reputation of the company or entity that applies whenever the reputational damage if consummated cannot be measured in magnitude as opposed to a financial penalty not quantifiable at the time of consummation. The company policy will have major focus on the issues of integrity throughout the business tenure. Even where laws are tolerant, the company chooses the path of the highest integrity (Barth, 2003). It will recognize that the customs, traditions and local customs vary from place to place and that honesty will never be criticized in any culture (Damon, 2004). The shades of dishonesty simply cause and demoralizing trials reprehensible. A well-founded reputation for scrupulous behavior is inherently an asset of incalculable value to the Company.

The establishment of policy will have focus on employees, who must understand that we are interested in how to get results, not only achieving ...