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Code of ethics introduction
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A. Select an established company and analyze the company’s code of ethics by doing the following:
Note: You should be able to find the company’s code of ethics on the company’s website or in the company’s annual 10k report. Only use the code of ethics for part A. Refer to the attachment of PDF of Code of Ethics.
1. Analyze whether the code of ethics is lacking in the area of corporate social responsibility.
The Varroc code of ethics document discusses the different types of corporate social responsibilities in relation to the employees, environment, systems, etc. which factors for the success of the business, are as follows:
Economic Responsibilities – This focuses on the long-term growth of the company. The organization execute primary operations
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Philanthropic Responsibilities – The Varroc lighting systems as a group with a global presence take part in local activities like rural development, technology awareness, sports, and educational enrichment programs.
Though the company gives a good ethical culture, the code of ethics document lacks some of the Ethical and Philanthropic Responsibilities.
i. The Varroc company manufactures headlamps and taillamps for the automobiles. Usage of plastics/polymers in lamps manufacturing in long-run will impact the environment with pollution either directly or indirectly. The code of ethics document lacks the information on using the recyclable/reusable materials for a safe and Healthy Environment. ii. The code of ethics document misses the information on encouraging the employees to use emails and support for the cause of “go green.” Using emails will reduce the paper consumption and helps the environment in climate change. iii. The code of ethics document lacks the information on the measures taken on culpableness by the external or Internal stakeholders.
2. Analyze whether the code of ethics is lacking in compliance with legal
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The ethical culture benefits the organization directly or indirectly for its business growth and makes highly competitive in the market by generating a huge customer base. Diversity – The varroc company treats all the employees equally and with respect. The company provides the environment with the equal opportunity to all the employees, customers, suppliers, shareholders and the community. Every employee was given the opportunity to contribute and keep focused on the business success. With the help of ethical management team in the company, the ethical culture was shown at all levels of hierarchy and ensure that leadership team, and the employees, vendors, customers have mutual respect.
Product Safety / Quality – The varroc company focuses on delivering the quality products to the consumers. Following the code of ethics, will keep the company not to deviate from the ethical approach by comprising on the quality. This ensures the company to meet all the expectations of the law and industry standards. Any quality product in the market will gain the customer business by mouth publicity and generates more profits for the
What are some the steps you should take when facing a problem that has no right answer?
The NAEYC Code of Ethical Conduct was developed to uphold the application of core values, ideals, and principles to assist teachers’ decision-making about ethical issues. The Core Values of the NAEYC Code of Ethical Conduct is based on the foundation of the field's commitment to young children. It is noteworthy that all seven of the Code's Core Values directly address our commitment to children:
For a company to be successful ethically, it must go beyond the notion of simple legal compliance and adopt a values-based organizational culture. A corporate code of ethics can be a very valuable and integral part of a company’s culture but I believe that it is not strong enough to stand alone. Thought and care must go into constructing the code of ethics and the implementation of it. Companies need to infuse ethics and integrity throughout their corporate culture as well as into their definition of success. To be successfully ethical, companies must go beyond the notion of simple legal compliance and adopt a values-based organizational culture.
Describe an ethical dilemma that could occur in your organization. Apply the ethical decision making model. Using the detailed analysis of alternative actions (Chapter 5, Table 5-1) create a table analyzing potential alternative solutions for your dilemma.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business ethics: Ethical decision making and cases: 2011 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
I will be analyzing EMCOR Group’s code of ethics. Their code of ethics is not lacking in corporate social responsibility. They clearly define what is expected in their code of ethics when dealing with customers, suppliers, competitors and employees. For example, they clearly define that when dealing with these parties employees must deal in a fair manner. EMCOR group (2013) states “EMCOR companies should not take an unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair-dealing practice”.
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
Establishing and implementing a strategic approach to improving organizational ethics is based on establishing, communicating, and monitoring ethical values and legal requirements that characterize the firm's history, culture, and operating environment” (p. 129). Ethics programs ensure satisfactory relationships with all stakeholders by aligning with all of their demands and needs, and determine conduct with customers and relationships with regulators, shareholders, suppliers, and employees (Ferrell, 2004). Values are a core set of beliefs and principles, one or many. A number of factors contribute to the development of values. These include membership in a community or culture, attitudes, beliefs, and behaviors.
Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society. Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal responsibility-laws that business must obey, ethical responsibilities-behaviors and activities that are expected of business by society, but are not codified in the law, philanthropic responsibilities-represent the company’s desire to give back to society (charietys, volunteering, sponsoring).
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2013). Business ethics: Ethical decision making and cases: 2011 custom edition (9th ed.). Mason, OH: South-Western Cengage Learning.
To provide an example of a breach of ethical conduct in the workplace, we may remember the case of a financial manager in a corporation that decided not to pay overtime to some employees. After a deep outside investigation, the company was summoned with thousands of dollars to remedy the payment that was supposed to be paid to all employees who worked more than forty hours per week. Again, it is needed more than just a booklet stating that the company adheres to the code of business ethics. It is needed serious managers that can run the company with the most seriousness as possible. Consequently, any written codes of business ethics, regardless of how well it has been crafted, need people that adhere to its internal content with a serious desire to do the right thing.
Business ethics are the core fundamentals of a business and are extremely important for organizations smooth and successful operation. It can have either positive impact by operating ethically or negative impact if they are caught up in any unethical situation or dilemma. Ethics has been defined as “study and philosophy of human conduct with an emphasis in determining the right and wrong” (Ferrell et.al, 2010). This case study will analyze Coca Cola for the ethical dilemmas they were involved in Belgium, and how the company responded to the issues.
Nowadays, society is governed by the implications of rules and legal restrictions. All of these rules were created to uphold and maintain the idea of ethical and moral values. Even children growing up were taught by some very important codes of ethics at school. These lessons learned as a youth growing up carry over into adulthood, as an employee or manager. Managers and workers both follow a similar code of ethics within the work place. Today, as a management consultant, I am going to prepare a code of ethics for my clients as they have recently started a restaurant called Knox, it is important to have a code of ethics in every company for their employees and also a circular by explaining the purpose and benefits of a good ethics. And finally, a brief report on the steps of strategic formulation and implementation.
As a law enforcement officer, my fundamental duty is to serve mankind; to safeguard lives and property; to protect the innocent against deception, the weak against oppression or intimidation, and the peaceful against violence or disorder; and to respect the constitutional rights of all men to liberty, equality and justice.
A company has an economic obligation. It must earn a favorable return for its stockholders in the restrictions of the law. But, corporate social responsibility means that organizations have also ethical and societal responsibilities that go past their economic responsibilities. CSR needs organizations to develop their documentations of their responsibilities to include other stakeholders such as workers, customers, suppliers, local societies, state governments, international organizations, etc. Ethics could be seen as a fundamental component of individual and group activities at the heart of organizations’ errands.