Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Ethics and business performance
Ethical factors affecting business
The importance of ethics in business
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Ethics and business performance
This comprehensive set of ethical policies and guidelines without any conflicting policies need to be applied across the company. Statement of compliance with the law: • As per the Federal labor laws and corporate laws all the employees in VVR Security Consultants irrespective of their race, gender, disability, place of birth, color are always equal under any circumstances. • The VVR Security Consultant is Drug & Alcohol free workplace; the No Drug & No Alcohol policy is applied across the company. • The Enforcement committee is responsible in designing and functioning of all these policies. If any violation of these policies occurs it comes under this committee and necessary action is taken after a proper investigation. Definition …show more content…
of terms: • Committee, here it is defined as a group of employees elected and appointed for a special function, typically consisting the members of larger group. • Company, here it is defined as the set of all the employees and all the business related partners in the organization. Integrity (vision) statement: • Integrity is one of the fundamental values that the company seeks in its employees while hiring since it stands as the hallmark of the employee who demonstrates sound moral and ethical principles at work. • Employees must demonstrate integrity since it draws clients to the company because it makes our company trustworthy and dependable. This proves we are principled and can be counted on to behave in honorable ways even when no one is watching. • Our vision is to function as a model Security Consultancy with a progressive growth plan year after year. Employees are encouraged and empowered to excel in their job skills and be responsible in achieving best security solutions to the clients. Standards and compliance expectations for handling: o Professional conflicts of interest: • Employees must and should always execute their duties, decisions with respect to the company’s interest since at any time a pattern of preference emerges that cannot be explained on the basis of shared assessments, proven competence, a conflict of interest may arise. • Employees must bring up the conflicts of interest and discuss them in open to solve them in order to avoid the damage it may cause the company. o Misuse of information: • Misusing the VVR Security Consultant’s any kind of information for personal or to benefit co-employees or outsiders, who in turn may affect the company in any form is highly prohibited. Individuals involving in these kinds of activities may face legal troubles. o Misuse of equipment and supplies: • Misusing the resources of any kind, which are related to the company for personal or to benefit co-employees or outsiders, is highly unacceptable. • In order to avoid mishandling or misusage with the company resources a continuous employee monitoring is deployed. • Any individual who is responsible for misusage of the company resources is accountable for any legal proceedings. o Acceptance of gifts and entertainment: • The VVR Security Consultant’s gift policy is ‘no-gift’ policy.
To avoid the conflict of interest this company and its employees do not accept gifts from clients, suppliers, potential employees, or any other individual or company, under any circumstances. • Accepting rewards for excellent work from clients is allowed and is to be shared by the employees. • The rewards should never be accepted in the form of cash, it could be accepted only in form of cheques. o Internal and external factors attempting to influence business activities: • Employees must bring out all the internal (salary issues, work environment, etc.) and external factors (clients pressures, project end date, etc.), which are influencing the business activities to management notice. Hence it’s the company’s responsibility to solve all the issues, which are affecting the company’s growth. o Ownership of information or project development: • The rights of the previous, on-going, future projects are held and maintained by the owner of the company. • Any issues on projects such as changes, cancellation, cost related issues, etc. should be made after having a brief discussion with the owner, project related employees and
client.
Mujtaba, B. G., & Shuaib, S. (2010). An Equitable Total Rewards Approach to Pay for Performance Management. Journal of Management Policy and Practice vol. II (4), 111-121.
NAEYC. (2005, April). Code of Ethical Conduct and Statement of Commitment. Retrieved May 13, 2010, from NAEYC.org: http://www.naeyc.org/files/naeyc/file/positions/PSETH05.pdf
Every organization and business enterprise has a dream of making the highest profit in all their ventures as well as minimizing all the inputs while at the same time maintaining the quality of their products and services. This goal cannot be achieved without the proper and powerful management team that directs all the organization operations and calls the shots. Management comprises of procedures and processes for rationalizing and connecting the activities of the business in order to achieve defined objectives and goals. In most cases, management is included as a fundamental of production process in the same category as machines, raw materials, and cash (Niederle, 2013). However, for an organization’s management to effectively and efficiently manage all its activities that include staffing, organizing, coordinating and controlling, it has to be conversant with rules of the land regarding
Winn could nothing or implement a rewards program that rewards the employee with more than cash rewards; employee recognition program namely employee of the month with a paid day off or a gift card. As part of the employee focused plan, the company should allow employees’ input on how to become more customer focused, efficient, and effective organization. This would greatly improve employees’ satisfaction and help the company achieve its overall goal of providing quality customer service.
It is very clear that the problems experienced in the companies are not lone standing but in most of the cases they are dependent on each other and there are strong bonds or relationships with regards to the cause and effects between them. It is therefore important to form or establish a strong cause and affect between them.
The purpose of this paper is to explore the use of Merit Pay and Incentives
Rewards can have a positive influence on work motivation and performance. They contribute to fundamental human needs such as esteem or self-actualization, create a basis for communication amongst co-workers, and push employees to complete work related tasks. Rewards such as recognition, monetary payments, and privileges have many advantages and uses but also have some drawbacks. An example of a drawback of rewards is when the rewards reduces intrinsic motivation, this relates to the overjustification effect.
"A simple thing such as giving a employee a little reward for outstanding performance for a month or a year could help motivate other employees to want to do better so that they could have the chance to be recognized for their outstanding work.
In order for a business to be successful it must have a strong policy on business ethics in place and a culture that is developed based on core values that should be clearly defined. An organization must do everything within its control to uphold promises made to employees as well as commitments to partners, such as the community where they are located. When the culture, ethics and core values are threatened it is imperative that the organization have a policy in place to address these concerns.
Reward strategy can be defined as a financial or non-financial reward an organization gives as a token of Favor for their labor accommodation offered to the organization. The components of a financial reward consist of simple pay, performance pay and employee benefits thus comprising of total compensation. Non-financial rewards include, holiday trips, large office, promotion, support, achievement responsibility and personal progression etc.
Organizations who receive the reward get national recognition, as well as the benefits which are associated with it. Such as: Improved reputation with stakeholders, bolsters consumer loyalty, Improved market share vs competitors and setting the standard for performance excellence in
Organizations should have a policy that will not cause any confusion. A clear and concise policy will prevent any unnecessary legal actions. The organization can benefit
A person’s behavior at one specific point in time usually controls their attitude at that time. Managers must be able to understand these basic needs of their workers. If these needs are not dealt with in a certain correct way than workers will not reach their maximum potential. If the lower order of needs is not met than people are not happy. The same can be said of the higher order.
Reward systems in the work place are not a new idea in the workplace, but they are the key to having happy employees and happy employees mean better output. Reward systems are systems used by companies where employees who achieve particular results are paid more or get other advantages. Some employers offer pay as incentives, while others offer benefits, some use a combination of both types. Employees within a company want recognition for the time and effort that they have put into a task required of their job. The use of reward systems not only enhances the company but it gives the employee a feeling of personal connection and investment into the company. Building a reward system can be a great asset to the company, by allowing the employees to feel that they are a part of the company. Reward systems are an important tool and key concept to managing an organization effectively.
Consequently, the most important object to learn is that external factors, coupled with the internal environment factors have a decisive impact on the functioning of the organization. All factors are closely twisted and affect each other. The manager should be able to analyze all these factors together and without losing any of the mind and make the right