MGT Leadership Priorities & Practice
Although various definitions have been raised as to what constitutes to a code of ethics, it has generally been determined as a framework that encompasses ideal conducts as established by a given person or individuals. With such ideals being subjectively identified, codes of ethics tend to vary in different companies and occupations. Designs employed in the determining of a code of ethics are quite varied but most comprise of the rationale for the framework, targets and objectives to be achieved through the same (Conjecture Corporation, 2011). Note that, these identified factors constitute to the introductory segment of the code document. This is followed by specified ideal conducts mandated to all affected members as well as ways of handling arising dilemmas that may be noted in the institution of such practices.
A code of ethics is quite helpful to most companies in various ways. First, the framework evidences acceptable morals and attitudes in a given organization as desired by the founder(s). As the same is infiltrated within a company’s practices, it acts as a guiding framework for the institution in various situations (Vitez, 2011). For instance, when a new employee faces uncertain instances within the workplace, then revisiting the code proves to be useful in handling the given issue. Secondly, the ethics framework infuses superior associations between companies. This is because offered ethics identify proper behaviors that should be practiced by a given organization regarding contracting practices, consumer handling in terms of enquiries and responses, or in failed mergers. With some situations being difficult, the codes enforce the desired outputs from workers in a bid to maintain a company’s reputation.
Thirdly, the framework helps workers to avoid improper conduct both in in-house and external associations. Examples of these conducts include dishonesty, bribery, unmet deadlines and stealing amongst others. In fact, most code frameworks tend to align company principles with given legal obligations. This acts in favor of an organization’s workers since in practicing the codes they also abide by authorized national obligations (Vitez, 2011). Fourthly, an ethics framework infuses a higher level of liability within the management group, especially with the need to offer necessary guidance through practical situations. In turn, this enhances effectuality within a company. Lastly, an ethical framework is economical for a company. This is because the involvement of an organization or worker in improper conduct is quite costly. For instance, if a consumer is overcharged in a given business process, he may litigate the company for the given issue and this would mean monetary re-imbursement that is very expensive and ineffectual in cost handling terms for the organization.
The Kraft food institution has a concise code that comprises of ten distinct rules (Magloff, 2011). The framework is mandatory to all company workers devoid of the working level. The Kraft guideline mandated its workers in the application of the codes at all decision instances; it also charges all workers with the monitoring aspect towards ensuring proper observance from all individuals. Ideal conducts noted include sincerity, honor, equity, and ecological safeguards amongst others. Colgate-Palmolive has a comprehensive document that is also divided into ten regions addressing the desired association between workers and consumers, community, physical surroundings, organization, other employees, state laws and others. It acts as a daily guideline for the company’s workers. Verizon has a shorter account of the conduct code comprising of four ideal aspects namely honesty, responsibility, quality, and esteem (Magloff, 2011). These four guidelines have to be observed in all work situations as well as in transaction instances. Note that, the company offers an exhaustive discussion of the four elements for higher comprehension.
Conjecture Corporation. (2011). what is a Code of Ethics? Retrieved from http://www.wisegeek.com/what-is-a-code-of-ethics.htm
Magloff, Lisa. (2011). Examples of a Code of Ethics for Business. Hearst Communications Inc. Retrieved from http://smallbusiness.chron.com/examples-code-ethics-business-4885.html
Vitez, O. (2011). Why Do Professional Organizations Have a Code of Ethics? Hearst Communications Inc. Retrieved from http://smallbusiness.chron.com/professional-organizations-code-ethics-1210.html