Code of Business Ethics

As a branch of 'applied ethics', Business Ethics attempts to apply ethical theory to business. Examines ethical principles and issues that may arise in the business environment. Business Ethics helps the organization to stand on strong pillars of integrity, loyalty and trust.

 As the demand for an ethical company is increasing most business organizations chose to implement the code of ethics:

    To define the framework of acceptable behavior.

    To follow high standards of practice.

    To create reference points for self-evaluation.

    To increase the sense of community.

    To create transparency in business.

    To promote higher standards of business ethics.

    To enforce the laws and rules of government.

The code should include the following main areas:

The purpose and values ​​of business: the vision and mission of the organization should always be kept in mind when creating the code. The products and services offered by the company, production and financial goals should be kept in mind.

Stakeholders: shareholders, customers, employees, suppliers are integral parts of the organization.

The welfare of employees, working conditions, equal opportunities, harassment and problems of retirement plans should be mentioned.

Maximization of return 'to share holders is the fundamental goal of any business. While making the code of ethics, conflicts may arise while caring for this purpose. The protection of investments and investment returns are always timely needed.

Every organization knows the importance of customer satisfaction. The promises about fair pricing, quality, after-sales service to customers must be kept.

Payments to the supplier must always be on time. No hospitality in excess or corruption must be accepted or given.

Society, Government and the Environment: Compliance with laws and social norms must be maintained. The activities of the company must always be respectful of the environment.

Implementation process: It 's always important to the code is implemented correctly. It should be seen that the code is reached and properly understood by all. Awareness campaigns and training programs should be performed, if necessary.

 Possibility of Feedback: Feedback is always necessary for the improvement and evaluation of the code. At least annual report should be given to board members. Revision procedure should be created to update the codes.

Following factors should always be kept in mind:

The involvement of Senior Management: Every business needs a sample or model or mentor to guide the roll business ethics program. A person who for the most senior managing director or chairman should take responsibility to lead the ethics program. The board and senior management should show enthusiasm and always provide guidance to the employee.

Employee involvement: No program can succeed without the involvement of grass root workers. It 's important to know what annoys people making the code of ethics. Every person should know the code of ethics and should be done to follow him.

Picking The well-tested model: a framework that addresses the problems likely to affect different components must be used. Sometimes the competitors should be considered. If the company is global, then the laws of other nations and people must be included in the model.

Running the Corporate Ethics is not always easy, but it's worth running as it gives returns in the long run.