Walt Disney's ethics and compliance procedures in financial management

Business Ethics

Business proposal

Walt Disney is the largest entertainment company in the industry all over the world. Throughout the years the company ahs become a leader in the source of entertainment.an in-depth look at the company's financial processes [provides an insight of how the company became known, respected and loved by many people all over the world. Disney is a familiar household name due to the its lasting impact not only in American society but all over the world .from 1920's Walt-Disney has left an impact to people throughout the world for its entertainment which includes films, theme parks as well as resorts (Disney, 2013). Being a leading entertainment company in the world is an indication that the financial performance of Walt Disney has been secure since its inception. Everyone in the world enjoys entertainment and Walt Disney has natured and organization that provides entertainment to people just as they want it. Walt Disney's financial goals are the maximization of their earnings and flow of cash and the allocation of capital towards initiatives that will lead to the organization's growth which will act as driving force for long-term shareholder value. The paper will look at the role of ethics and compliance in Walt Disney's financial environment. There will also be a description of the procedures that Disney has in place to ensure ethical behavior.

Procedures that Disney has in place to ensure ethical behavior

Walt Disney is an exception among companies that do not give priority to ethical standards in their organizations. Walt Disney gives a high priority to its employees, cast members, directors and other members of the staff awareness of what is expected of them at all times by the company. This is achieved by various procedures put in place by the company. First of all Walt Disney has enforced financial reporting which is done with effective internal control. Secondly, Walt Disney has put ethics code in places which are known as The Standards of Business Conduct. Walt Disney ensures that it gives everyone a copy of their handbook that contains standards of Business Conduct. The standard of business conduct which is in place in Walt Disney is the implementation of honesty as being important to the entire company and also the company's shareholders. This is a clear indication that the company ensures that all employees are informed or made aware of ethical decisions and the effects they have on everyone involved in the organization this includes shareholders when it comes to finances (Disney, 2013

Procedure three is the fact that when anyone is hired they have to go through business standard training, compliance training as well as ethics training. The employees are provided with continual training and an online learning system al in place to ensure that their employees are equipped with knowledge and guidance when it comes to making decisions. There is also a code of Ethics for directors that are adopted by Walt Disney. This code is meant for directors and it ensures that the directors must represent the interest of Walt Disney's shareholders, exhibit integrity, commitment and independence of judgment and thought, dedicate sufficient time, attention and energy to ensure that they perform their duties diligently.