The Importance of a Code of Ethics in Business

In our company, each person is eligible to enjoy fundamental human rights and freedom without discrimination. The company believes that it has a wider legal and moral role to utilize its influence to enhance protection of human rights.

2. We Act in Accordance With All Regulations and Laws

We are dedicated to comply with all regulations and laws to facilitate business success. There is a Compliance Committee, which is accountable for communicating these laws, and ensuring that all observe them.

3. We Serve with Fairness in our Commercial Practice

We meet the demands of all employees and customers equally without favour. The executive ensures that all workers are treated honestly.

4. We Respect and Uphold Intellectual Property

We demonstrate innovativeness in enhancing respect for intellectual property for other companies’ work.

5. We Act Ethically

We are usually focused on ethical behaviours in the society by engaging in principled deals.

6. We are Transparent and Honest

We respect the key values that include honesty and transparency in order to guarantee upright business in the firm.

7. We are Trustworthy to our Customers

We are reliable to our clients by guaranteeing that customer service becomes our first priority. The company provides first-class services to our esteemed customers.

8. We are Committed to Safe Working Environment at All Times

We take responsibility in upholding a healthy and safe workplace. We have established a safety program, which assist us to improve the work environment.

9. We Preserve Confidentiality

We maintain the confidentiality of the information by avoiding sharing of data with persons who do not require it. We also store written information in safe areas.

10. We Care for the Environment

We are committed to protecting nature by delivering practical guidelines to our stakeholders on the things they engage to have sustainability.

1. Why Did You Include Each of the Ten Elements?

The first element on human rights was included because each person should be allowed to enjoy fundamental human rights and freedom without discrimination. Compliance to legal provisions was also incorporated in the code of ethics because a business should be dedicated to comply with all regulations and laws to facilitate business success. The company should have Compliance Committee, which is accountable for communicating the laws, and ensure that all observe them (Jondle, Ardichvili, & Mitchell, 2014). The company should serve with fairness in its commercial practice. Therefore, it was essential to include the element of fairness, which demands treating their employees equally. The executives should ensure that all workers are treated with honesty. The company should also focus on ethical behaviours in the society by engaging in principled processes.

The element of transparency and honesty is critical because the company must respect the key values in order to guarantee upright business in the firm. Trustworthiness is a fundamental element to the customers by guaranteeing that customers become their first priority. The organization should guarantee first-class services to our esteemed customers (Withers & Ebrahimpour, 2013). The organization should be committed to safe working environment because it upholds the health and safety of its workers. It is imperative to have the element of confidentiality in the code of ethics by avoiding sharing of data with unauthorized persons. Finally, it is necessary to protect environment by delivering practical guidelines to our stakeholders on the things they engage to have sustainability (Evans, 2015).

2. Why is a Code of Ethics an Important Part of Every Business from an Employer Standpoint?

Code of ethics is important in business from the employer standpoint because it ensures that executive officers, directors, or managers act responsibly in different business environments (Evans, 2015). Employers need ethical decision-making to enhance the company in its entirety instead of allowing one person take advantage of the decisions in a firm. A business needs code of conducts based on corporate decisions that will reproduce the ethical tolerances of the situations in which they function (Garegnani, Merlotti, & Russo, 2015). Businesses need ethical standards and code of conduct to show the employees that they work in a company that carries out its responsibilities. One motive for employer to establish a code of ethics is to communicate to its workers that it is dedicated to participating in commerce in a responsible way (Jondle, Ardichvili, & Mitchell, 2014).

3. Why is a Code of Ethics an Important Part of Every Business from an Employee Standpoint?

A code of ethics highlights the specific expectations and standards of the firm to the employee. Therefore, the senior staff will create awareness and sensitize the other workers on issues, which may not be easily understandable to them. In addition, it assists the employees in avoiding serious missteps, which negatively affect the business performance (Garegnani, Merlotti, & Russo, 2015). The code of ethics may also work as a reference for executing corrective action among the employees. Furthermore, employees are required to make critical decision in the firm every day. They must be guided by ethical model in the process of making such decisions. Code of ethics highlights the acceptable behaviours companies anticipate to observe from their employees (Withers & Ebrahimpour, 2013). Ethical-based decision-making is important because it facilitates the creation of an ethical corporate culture. Employees abiding by the code of conduct may establish an ethical culture by demonstrating the kind of behaviour they would like their subordinates to demonstrate (Jondle, Ardichvili, & Mitchell, 2014).

4. Once You Have Written the Code of Ethics, How Would You Implement to Ensure Compliance?

Implementation of the code of ethics in the organization will encompass effective communication on the guidelines and policies to every stakeholder by offering appropriate training to facilitate their understanding on the code. In fact, the management must promote and practice the code of ethics for their subordinates to follow (Jondle, Ardichvili, & Mitchell, 2014). Firstly, the organization will organize an induction-training package for new employees and employers to assess and review the requirements and expectations. The new workforce will be provided with training manual, work safety and health, and mission statement (Garegnani, Merlotti, & Russo, 2015).

The organization will also be involved in providing awareness and communication campaigns for employees to be reminded continuously. The existing staff will benefit from online training and discussions on ethical issues in their assignments. Finally, the summary of the code will be highlighted in the noticeboards, which would be accessed in different parts of the office (Withers & Ebrahimpour, 2013).

References

Evans, T. R. (2015). What does it mean to be an ethical CPA? Pennsylvania CPA Journal, 86(3), 66.

Garegnani, G. M., Merlotti, E. P., & Russo, A. (2015). Scoring firms’ codes of ethics: An explorative study of quality drivers. Journal of Business Ethics, 126(4), 541-557.

Jondle, D., Ardichvili, A., & Mitchell, J. (2014). Modeling ethical business culture: Development of the ethical business culture survey and its use to validate the CEBC model of ethical business culture. Journal of Business Ethics, 119(1), 29-43.

Withers, B., & Ebrahimpour, M. (2013). The effects of codes of ethics on the supply chain: A comparison of LEs and SMEs. The Journal of Business and Economic Studies, 19(1), 24.