The analysis of the policy

The laws used to govern the viability of business ethics must be evaluated in order to promote the improvement of a firm’s competitiveness. As a result, modifications are made in the parts where the flaws are discovered. The paper has been compiled to outline a proposal for regulatory pathways that should be adopted to mitigate cases of corporate ethics misappropriation. The report begins with introductory remarks that emphasize the importance of maintaining corporate ethics. Second, the author scales previously examined parts of the same area. One example is the use of focus groups to enact previously stated studies on business ethics. After reviewing other articles, the analysis declares that the study will major in explaining the possible policies that can be applied to the field of business reforms on ethics. Methods used to carry out the research have also been highlighted. Questionnaires and interviews were used to gather information. The results were used to come up with the recommendations and conclusion. Furthermore, the writer gives the proposal that he saw worth to be assimilated into the financial aspects. The two policies include merciful return attributed with the lowering of the rank of the individual. The procedure is intended to replace the jailing of workers. Secondly, the salary for the cost involved targets to cut the wages of the individual to pay a fine imposed by the employer.

Key words: corporate ethics, viability, productivity, proposal, business reform, merciful return, salary, incurred cost.

_x000c_Policy Analysis

Introduction

Business ethics play an essential role in the proper functioning of a firm. To maintain the excellent relationship among the employer and employees, the policies have to be observed. Concurrently, the intermingling of workers and proper observation of ethics moderate one another. Furthermore, stakeholders are in a position to get their returns from a particular organization when the corporate professional regulations are observed. It is clear that the availability of ethics within a company is the situation that cannot be taken for granted. A violation of the laws directly leads to poor performance of the concerned firm. Moreover, the world, through technology, is undergoing several rapid changes. Hence, the new face of the globe would need the corresponding appearance of ethics.

To lift the viability of the policy put in place, one needs to understand some issues. First, the individual has to know that ethical values are meant to maintain the conduct of people. The behavior may be towards the employer or other employees. Also, the handling of resources which are available on the firm needs to be governed by the same policy. If the formulated law ends up hurting the second individual or his/ her property, then the policy will not play many roles. Secondly, from the definition of ethics, each formulation must have the two sides that are equally fair. The newly formed law should contain an improved feature that the current regulation lacks. The given conditions should be realistic and applicable to all the concerned work levels. While formulating the ethics, the future of the rule should be assessed appropriately too. If the policy is impossible to accomplish in the coming days, then the ethics should be given a second thought.

Objective

The aims of the study were meant to better the current standing in the ethic policies that have been put in place. The two primary goals of the research are highlighted below.

To propose the elaborate strategies that will prevent significant catastrophes in a given organization.

To suggest the ways that would prevent from the corporate ethics lapses that might occur in the future.

Literature Review

In many organizations, attempts are being made to improve the workability of regulations about the surfacing events. However, some of the efforts impacted have ended up as a big disappointment to both the formulators and executors. A good example is the policy-making process that was known as Sarbanes-Oxley Reform Act of 2002 (Gea &et al, 2017). Mainly, the policy was based on the analysis of the cost incurred against the yields obtained. Through the formulation, the management of the company could assess the corporate ethics that had boosted the business. The Act works hand-in-hand with the worker performance list. The procession was so moving to the extent of attracting the attention of the media. Eventually, the attempts fail to fulfill their primary purpose which was to ensure that the global economy did not melt down.

For the scholarly works, the topic about the reformation of the corporate ethics has undergone little research. Nevertheless, some studies about the creation of business ethics have been scaled. One article has been written to give the view. Hence, an elaborate picture has been done. It explains the effects of the workers_x0092_ moral degradations to the business ethics (Zheng &et al, 2014). Furthermore, the document talks about the impact felt by the corporate societal duty from the failure in the ability to upkeep the morals of the society.

Further, on the same field of business ethics, a research scheme was carried out. The topic of the study dwelt on the use of focus groups during the research on business ethics. The writer gives an account of the extent that the method of the focus group can have on the enhancement of the ethos (Cowton & Downs, 2015). However, the article mentions nothing that is important to the formulation of policies. Moreover, the writer does not indicate the study about the policies that are meant to guide the implementation of the policies. Having raised the alarm over the financial shortcoming due to lack of elaborate policy to execute the business ethics appropriately, the need to focus on the same topic becomes more urgent.

Scoop of the Study

The study majors in the creation of policies that can be used to stabilize the operation of the business ethics. Additionally, the study gives the remedy to the possible hindrances that may come into existence in the future. The proposal by the research is expected to be viable as the formulation of the policies has been derived from the failing points of some of the existing policies.

Research Methodology

The report gives the compilation of a study that was carried out to come up with the alternative policies. To achieve their goals, the policies had to prove to be simple, clear and straightforward. Most importantly, policies suggested by the research must be better than the existing ones regarding performance assessment. Furthermore, from the findings, the investigator has to propose some solutions to the future application of the policy. The document has been presented in a qualitative type of research methodology. The scholar devised the methods that were most appropriate to find the most viable policies.

Random sampling was used due to the vastness of the information that was to be acquired. Questionnaires were supplied to the respondent. The time limit was set for 10 minutes after which the scripts were collected. The questions included on the papers were 3 in number and were simple, namely, straightforward closed-ended questions with Yes/ No answers. The questions were as stated below.

Do you understand the current regulations that are used to govern the corporate ethos?

Are the current policies on business ethics fair enough in your view?

Do you work due to the fear of the laws?

The companies that were involved in the study demanded total anonymity. The investigator managed to supply ten questionnaires to the management of the firms. 8 out of the total number gave a positive response. Further, the 15 questions were provided to the employees. A response of 12 out of the number responded. 7 out of the total number gave helpful answers. 5 lacked a proper understanding of the policies at hand.

Interviews were also carried out to inquire more on the topic raised by the questionnaires. After a face-to-face talk with the respondents, the investigator had much first-hand information that had propelled his critical thinking. To complement the findings from the field, the secondary sources were used. The research on the scholarly articles was equipped with information useful to the study. Furthermore, books were used to obtain relevant information that has been used to compile the report.

Policy Proposal

One of the most visible and conspicuous observations from the workers and also the management was that some of the current policies were harsh. Jailing entirely works negatively for the low earning employees. However, for the criminal offenses committed by the wealthy laborers, imprisonment seems to be the only limiting aspect unto the mistake. To ensure fairness, a more merciful policy has to be implemented.

The policies that have been suggested by the writer are majorly meant to cover the low-class individual (Chun &et al, 2011). Due to the massive fines and jail terms that can be imposed on them, more light consequences can be impacted. The two possible policies that can be used to replace imprisonment and complete firing are the merciful return and salary for the incurred cost.

The Merciful Return

When an employee commits the offense that would require them to serve a jail term, it would be wise to relief the person of the duties and assign lighter duties. Furthermore, the privileges enjoyed by the other employees at the new rank should not be extended to him/ her. In addition, the individual should be denied all the associated allowances. He/ she should only be entitled to the salary. Through the approach, the individual will be in a good position, not quite right, but he/ she will find a way to fend for the individuals relying on him/her. When compared with the jailing, the individual fails to provide for the family entirely (Egels-Zandén, 2014). Furthermore, the individual in prison will not be paying tax, but remain a liability to the state.

Adoption of the policy ensures that the professional is suspended from the obligations to perform his/ her duties. However, the individual remains active by working in other segments of the firm. The technique will guarantee that the person concerned does not lose track of the previous duties assigned to him/ her. Implying that the individual can have a chance to be reassigned the responsibilities quickly.

However, the policy will be limited to non-criminal offenses. For the criminal misconduct, the law of the state will have to take its way. The individual is to remain in the suspension-like state for a considerable time depending on the intensity of the case. The minimum period is six months, and the maximum duration should not exceed two years. Besides, the policy can only be applied twice optimally. The offense that will be committed after will plainly see the individual out of the organization and into the court for the determination of his/ her fate.

Salary for Cost Incurred

The individual that goes against less severe ethos should be fined by the concerned management of the firm. However, the fine should not be expected to come from the individual. The employer will have to deduct the penalty from the employees_x0092_ salary. Also, the employees will be denied all privileges previously assigned to him/ her. The individual should only be allowed half of the wage (Weber & Wasieleski, 2013). Evacuation of the post held currently should depend on the extent to which the fault goes. If the person has to leave office, then the individual will have to face a minimum of 3-month total suspension. During that period, pay which is a third of the current salary will be allocated to him/ her.

The policy is similar to the current regulation that permits the employer to send an employee home. However, the present law denies the laborer a chance to redeem her/ him. Every human is eligible of committing a corporate offense, either accidentally or intentionally. If they are given an opportunity to meditate over the issue, they can come up with a resolved mind. Therefore, the policy will work on the ground that an individual can make mistakes. Moreover, it relies on the aspect that the individual can change when given a chance.

Recommendations

From the survey conducted, it was clear that some workers were not aware of the availability of the regulations. Due to that aspect, civic education should be performed. If the individual gets to understand the consequences of committing ethical offenses, cases will be reduced to a minimum. When assessing the previous instances of the corporate wrongdoing, the dominant driving power has always been financed. Therefore, employers should offer much pay to the laborers.

The third possible solution lies with the management. The behavior of the decision-makers also may determine how the overall governance will flow. If the leadership first show respect to the employees by providing a favorable working environment and a good pay, then the workers will have little excuses to commit corporate offenses.

Conclusion

To sum up, the policies that have been discussed above if well-implemented will undoubtedly see a change in many firms all over the globe. However, if it is poorly put to practice, the much-anticipated outcomes will deter growth in the economy of the country. Furthermore, for the maximum realization of their benefits, the policies ought to be incorporated alongside some of the remaining regulations.

_x000c_References

Chun, J.S., Shin, Y., Choi, J.N., & Kim, M.S. (2011). How does corporate ethics contribute to firm financial performance? Journal of Management, 39(4), 853-844.

Cowton, C.J., & Downs, Y. (2015). Use of focus groups in business ethics research: Potential, problems, and paths to progress. Business Ethics: A European Review, 24(s1), S54-S66.

Egels-Zandén, N. (2014). Revisiting supplier compliance with MNC codes of conduct: Recoupling policy and practice at Chinese toy suppliers. Journal of Business Ethics, 119(1), 59-75.

Gea, W., Koesterb, A., & McVaya, S. (2017). Benefits and costs of Sarbanes-Oxley Section 404(b) exemption: Evidence from small firms_x0092_ internal control disclosures. Journal of Accounting and Economics, 63(2-3), 358-384.

Weber, J., & Wasieleski, D.M. (2013). Corporate ethics and compliance programs: A report, analysis, and critique. Journal of Business Ethics, 112(4), 609-626.

Zheng, Q., Luo, Y., & Wang, S.L. (2014). Moral degradation, business ethics, and corporate social responsibility in a transitional economy. Journal of Business Ethics, 120(3), 405-421.