|
Awareness on code of business conductA good code of business conduct works is in tandem to ethical guideline for conducting business in an organization. This code of conduct in detail encapsulates integrity issues, legal implication of entering into illegal areas, defines ground rules for an expected, acceptable and non acceptable behavior and morals for the company and all who work with it. The code of business conduct gives a bird's eye view of the companies ethical integrity, professional behavior and practices at both macro as well as the micro level. It also sets a clear ground rule for all external parties who would like to do business with the company. Most of them are investors, credit holders, customers, resources of the company, stakeholders etc. Serious of impact In a code of business conduct: Whenever a company creates and develops a code of business conduct, it generates positive impacts from the environment.
In order to implement a strong code of business conduct the board of directors as well as other decision making parties must consider the following key points: Trickledown effect: The main heads of the company must be directly involved in the development of this ethical code and must demonstrate it so that the employees are encouraged to take the code of conduct seriously. Rein still and re-enforcement of the value statement: It is imperative that the values statement of the organization is reviewed regularly and re-instilled in all who take decisions not only at the top level but also at elementary level. Ethics training: The company must ensure that every one goes through basic awareness training on ethics at least once a year. Involving external parties: Intelligent and wise company owners will also provision for an external parties involvement while the guideline are set, in order to have maximum buying from the external market. |
