Code of Ethics

Examples of Code of Ethics in the following topics:

• Codes of Conduct

  • There are three types of ethical codes: codes of business ethics, codes of conduct for employees, and codes of professional practice.
  • A code of business ethics often focuses on social issues.
  • The effectiveness of such codes of ethics depends on the extent to which management supports and enforces them.
  • A code of conduct for employees sets out the procedures to be used in specific ethical situations, such as conflicts of interest or the acceptance of gifts.
  • State the importance of utilizing a code of conduct to outline and maintain ethical business standards within an organization

• Promoting Ethical Behavior through the Planning Process

  • Building in a strong sense of ethics, and an alignment with the well-being of all existing stakeholders (and society at large) is an integral aspect of the strategic planning process.
  • The concept of aligning with the needs, ethics, and well-being of all stakeholders is referred to as Stakeholder Theory.
  • Developing a Code of Ethics: This serves as a central point of reference for everyone in the organization.
  • This code of ethics should take stakeholders concerns into consideration, and evolve organically over time as the organization grows.
  • Employees and managers may encounter ethical dilemmas that the Code of Ethics and ethics training don't address.

• Corporate Policies

  • Companies often have corporate ethics statements or codes that identify ethical expectations and offer guidance.
  • For example, in financial trading environments, lying is often expected, even though it goes against any code of ethics.
  • Sometimes there is a disconnection between the company's code of ethics and actual practices.
  • For instance, the US Department of Commerce ethics program treats business ethics as a set of instructions and procedures to be followed by 'ethics officers'.
  • Some others claim being ethical just for the sake of it.

• Managers Role in Ethical Conduct

  • Managers are responsible for upholding the ethical code and helping others to do so as well.
  • Managers hold positions of authority that make them accountable for the ethical conduct of those who report to them.
  • They fulfill this responsibility by making sure employees are aware of the organization's ethical code and have the opportunity to ask questions to clarify their understanding.
  • In addition to following the organization's ethical code, managers may be obligated to follow a separate professional code of ethics, depending on their role, responsibilities, and training.
  • Additionally, managers may be responsible for creating and/or implementing changes to an organization's ethical codes or guidelines.

• Ethics in Organizational Communications

  • Organizational ethics refers to the moral code of an organization, including how the organization responds to internal and external issues.
  • Commonly used tools include codes of ethics and employee handbooks.
  • A code of ethics might also include the company's policy on price fixing, recordkeeping, and financial integrity.
  • In order to establish a clear and effective code of ethics, it is important for a company to understand the ramifications of operating unethically.
  • Commitment to socially responsible business practices can also help organizations establish and communicate an ethical code.

• Moral Principles in Management

  • Ethics, also known as moral philosophy, is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct.
  • Business ethics (also corporate or professional ethics) is a form of applied ethics that examines the principles and moral beliefs that guide management decisions.
  • When individuals take action on behalf of an organization, they represent its ethics to society.
  • A company's ethical practices can thus have an effect on the recruitment and retention of employees.
  • This person ensures their organization has statements of ethical principals, clear guideline about acceptable and unacceptable practices, and means of reporting ethical breaches.

• The Importance of Studying Ethics

  • When you think of ethics, what comes to mind?
  • Perhaps you think of words and phrases like ethical behavior, professional ethics, ethics boards, or code of ethics.
  • At its heart, ethics refers to the concept of having morally acceptable values and behaviors.
  • Acknowledging and responding to conflicts of interest is also regarded as ethical public speaking behavior.
  • The study of ethics, then, is incredibly important to any student of public speaking, as the most effective public speakers are those who practice ethical behavior in their speeches.

• Ethical Issues at an Individual Level

  • As a result, most organizations generate a statement of organizational values and codes of conduct for all employees to understand and adhere to.
  • As with most facets of management, there is also a critical motivational component to individual ethics.
  • Finally, some aspects of individual ethics are rooted in the individual.
  • Attaining a strong sense of professionalism, and recognizing the ethical implications of certain professional decisions, is a key component of education, individual reflection, and experience.
  • But an ethical journalist recognizes the repercussions of slander for the individual being discussed, and maintains an honest ethical code of reporting only what they know to be true (and not what they speculate).

• Training Ethical Decision Making

  • Many organizations implement compliance and ethics programs to help guide the decision making and behavior of employees.
  • Ethics training inside corporations is aimed at helping employees address the moral dimension of business decisions.
  • Most ethics training focuses on clarifying and communicating an organization's ethical code so employees understand what is expected.
  • In every type of business, ethics are needed to keep business standards high.
  • Recognize the value in ensuring that managers are trained in business ethics and legal standards, particularly in light of the growing complexity of legal factors

• A Brief Definition of Business Ethics

  • Ethics is the branch of philosophy concerned with the meaning of all aspects of human behavior.
  • Theoretical ethics, sometimes called normative ethics, is about delineating right from wrong.
  • Business ethics, also called corporate ethics, is a form of applied ethics or professional ethics that examines the ethical and moral principles and problems that arise in a business environment.
  • It can also be defined as the written and unwritten codes of principles and values, determined by an organization's culture, that govern decisions and actions within that organization.
  • There are three parts to the discipline of business ethics: personal (on a micro scale), professional (on an intermediate scale), and corporate (on a macro scale).