Code of Ethics Ethics Essay

Excerpt from Essay :

Code of Ethics

Company X believes in having a clear roadmap for conducting business in a proper and sustainable way. It is for this reason that we have in place a well-developed Code of Ethics -- a statement that seeks to ensure that our conduct of business is consistent with not only the industry best practices, but also all the laws of the land. Organization X is a hypothetical firm that concerns itself with the manufacture and sale of beverages and snacks. Organization X is a multinational business with operations in diverse parts of the world.

Statement of Values

Company X's key ethical values and principles include:

Integrity and Honesty

Company X believes in doing the right thing, at all times. The right thing doesn't not necessarily mean what is good for business, but that which has as positive impact on not only our key stakeholders but also the entire society. We believe that our reputation is firmly rooted in our ability to uphold honesty and integrity. In line with its commitments to these key principles, the Company complies with all the applicable laws in all the areas in which it conducts business.

a) Responsible Marketing and Advertising

The company engages in what is referred to as ethical marketing. Ethical marketing, in the words of Murphy, Laczniak, and Prothero (2013, p. 4), includes all those "practices that emphasize transparent, trustworthy, and responsible personal and/or organizational marketing policies and actions that exhibit integrity as well as fairness to consumers and other stakeholders." The Company understands that millions of people consume its products on a daily basis. It is for this treason that its marketing efforts mirror its ethical standards, are truthful, and are in compliance with all the applicable laws. Already some companies have in the past been accused of misrepresenting information in their advertising efforts (Delener, 1995). Company X does not wish to become a case study. In that regard, therefore, the Company recommends that all its marketing efforts should never:

Make claims that cannot be substantiated

Use statements that are either untruthful or misleading

Misrepresent the attributes or quality of any of our products

Most importantly, the Company's marketing efforts should be in conformance with all the relevant regulations, guidelines, and laws.

b) Fair treatment of Customers

It should be noted that to us, integrity in the marketplace has got to do with the fair as well as ethical treatment of customers. In that regard, therefore, the Company recommends that during their interactions with customers, employees ought to:

Ensure that they deliver on all the pledges made to customers

See to it that various programs sanctioned by the Company are communicated in a proper way and format

Ensure that they do not engage in trade practices that could be constructed as being deceptive or unfair.

c) Interactions with suppliers

All our interactions with suppliers should be founded on honesty and true representation. On this front, the company is aware that an illegal or unethical act on the part of suppliers could hurt its hard earned reputation and bring about loss of goodwill. It is for this reason that we insist that, as a condition of doing business with Company X, all our suppliers comply with the Company's Code of Ethics. It is also important to note that suppliers should be selected on both reputation and merit.

d) Interaction with Competitors

The Company is a firm believer on fair competition. It is for this reason that the Company intends to continue adhering to all the competition and antitrust laws in place. We are committed to outperforming those we compete with within the confines of a free enterprise framework. All our employers must, therefore:

Respect the intellectual property of not only third parties but also our direct competitors.

Obtain competitive information in a legit and fair manner

2. Commitment to Quality

The Company is committed to ensuring that the quality of products it offers for sale is never compromised. To ensure that the trust customers have in our products is not eroded, the Company ensures that all its products are superior to those offered by the competition. This it does by, amongst other things, ensuring that all the products are developed in a responsible and ethical manner and seeing to it that its processes are in compliance with all the applicable guidelines and standards. It is for this reason that all those involved, in any way, in the development, packaging, or storage of any of our products ought to:

Ensure that they adhere to the applicable standards and guidelines

Comply with all the laws, rules, and regulations that relate to food safety.

3. Respect for Humanity and Promotion of Human Rights

According to Jennings (2008, p. 246), "today, every multinational corporation is challenged to promote human rights" The Company recognizes the relevance of not only promoting, but also maintaining human rights in its various engagements across the globe. For this reason, the Company is committed towards lending the much needed support to the various principles captured under two key regimes. These are the International Labor Organization's fundamental principles, and the United Nation's Universal Declaration of Human Rights. In that regard, therefore, we seek to ensure that all out policies and programs:

Contribute towards the creation of a workplace that is free from both harassment and discrimination

Bar any form of child labor, as well as forced labor

Provide working conditions that are both safe and humane

Promote employees' freedom of association

Provide wages that are not only fair but also equitable.

4. Appreciation of Diversity

The Company believes that all individuals are unique. Being a global organization, the Company engages employee from various cultural, ethnic, as well as nation backgrounds. It is for this reason that inclusion is encouraged. It is also important to note that people have diverse personal characteristics in relation to their marital statuses, sexual orientation, gender identity, work experiences, or even personality. We serve in diverse markets. It is for this reason that the Company brings on board a diverse workforce and takes deliberate measures to ensure that these individuals feel appreciated and respected.

Employees are expected to contribute towards the creation of a work environment that makes our business partners and employees feel respected, valued, and included. For this reason, the Company will, specifically, expect employees to:

Respect not only the diversity of each other's experiences, but also demonstrate reverence for the abilities and talents of others.

Respect other people's input

Contribute towards the creation of an environment of candor, openness, and trust.

It is important to note that the Company will only understand and appreciate the various needs of its customers if it actively fosters an environment of trust, respect, and confidence in each other.

Training, Communication, and Implementation

It is important to note that this Code applies to each and every employee of our firm -- regardless of their location. This includes all those engaged by our various subsidiaries. Company X's Compliance Unit is responsible for training and communication. The unit is also responsible for the promotion, monitoring, as well as enforcement of this Code of Ethics. It should, however, be noted that ultimately, all of us are responsible for the maintenance as well as actual implementation of this Code of Ethics.

1. Training of New Employees

All new employees of Company X must receive a copy of the Code of Ethics. In addition, they should receive three hours of training with respect to the same. During training, employees will go through the Code of Ethics and acknowledge they not only understand, but also appreciate its relevance and what it represents.

2. Refresher Training

All employees of Company X will receive a full hour of training on an annual basis.

3. Compliance Training

The Company appreciates the fact that general training on the relevance of the Code of Ethics will not be enough. For this reason, the Company has in place what it refers to as compliance training -- where employees from various departments receive the relevant training relative to their specific duties and job responsibilities. It is important to note that the Company will largely rely on the managers responsible for various units so as to establish the relevant training needs.

4. Delivery of Training

A number of approaches will be utilized in the delivery of training. These include, but they are not limited to, instructor-led sessions, online courses, and webcasts. The Company will make use of its learning management system to track all training.

5. Communication

In seeking to discuss as well as promote the firm's compliance and ethics program, the Company will make use of a number of communication methods (both externally and internally). With regard to external communications, the Company will utilize articles and press releases. On the other hand, internal communication methods will comprise of compliance alerts, webcasts and conference calls (periodic), newsletters, and an Intranet site.

6. User Guidance

It is important to note that the Code of Ethics training cannot possibly foresee all the situations that employees…

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