Ateneo Law Entrance Exam Reviewer

Unfortunately, the creation of SOX and a code of ethics in no way guarantee’s that everyone will follow the rules; people will always find a way to circumvent the system or misrepresent the code’s intentions. Even the most robust ethics program needs constant oversight to remain effective. The pressure to increase profits and market share can lead executives to push the boundaries of ethical business behavior. Despite the passage of SOX, some of the largest and most well-established companies are currently crossing those boundaries.

A lot of key factors would need to be considered when determining if a company is being ran ethically

Organizations that behave ethically are more apt to earn the trust of their customers, employees, and stockholders. Then there are companies that hide the true value of the company from possible investors, customers, employees, and the public at large showing a lack of ethically behavior. This does not all the time included just one company, but a group effort to hide, steal, and mislead everyone for personnel gains. Everyone that deals with any organization expects the upmost ethically behavior on all levels.

In today’s 21st century, it takes good ethics for every company to strive competitively to maintain as the best top competitor in their industries; and has its provocations of smart goal as to how successfully they anticipate their business to function, when it comes to finances, attracting and recruiting employees, begin an admirable corporation to citizens, and while showing customers and employees love, courteous, and appreciation. Companies forestall unethical behavior of bad reputation to uphold the organization values. These atrocious speculations can permanently cause decreased revenues and will degrade the company name, sometimes irreparably damaged.

The ethical considerations for any company are highly valuable and by far the important aspect of any company or organization. The decisions that any CEO or manger would make will have a lasting and heavy impact on everyone that belongs to the organization. I do believe that any company or organization that wants to be known as a great company in the business world has to follow all regulations not only from where they operate but also within their own

Compliance with Laws, Rules, and Regulations is, to me, the most important area in a company’s code of conduct. Complying with laws, rules, and regulations includes preventing harassment and discrimination, improper payments, and environmental compliance. When companies are in compliance they are not putting themselves at risk of huge fines, lawsuits, and negativity towards their company.

Finally, I believe is important for companies to follow ethical standards that could assist them to make responsible decisions. The ISO 26000 standards is a document that addresses responsible practices related to organizational governance, human rights, labor practices, the environment, fair operating practices, consumer issues and community involvement and development (Ajeti, S. R., 2016, para. 2-4). for example, When Chevron faces difficult situations, they try to resolve them by answering four questions: (1) is it legal? (2) Is it consistent with the company policy, including human rights policy? (3) is it consistent with the chevron’s core values? (4) if it were made public, would be I be comfortable? (Chevron, 2015, p.

When examining these questions the answers may cause “red flags” to appear. Doing something you know is wrong is one part of the case but the other side of the argument is how well we as a company protected something we consider so valuable.

When an organization is not ethical, this will be seen through their work, employees, etc. A customer will lose confidence in a company quickly if they realize ethics are not a main priority for that particular business. If an organization wants to be in business for the long-run, they will realize their priorities should not be on getting rich quick but on setting standards and maintaining them; by following this rule, customers will continue to roll in, and the company will prosper.

In the present health services administrative environment, corporate compliance programs are a vital business capacity for recognizing hazard and staying away from obligation, particularly in light of the Government 's extended assets and expanded spotlight on indicting extortion and misuse. A corporate compliance program is a framework which is designed to recognize and avert infringement of law by the employees and employers of an organization. There are five basic elements that are used to produce an effective corporate compliance program, they include; leadership, risk assessment, standards and controls, training

Even if corporate crime is detected it can be very difficult to prosecute and when prosecuted is often only very lightly punished. Many cases of corporate crime are punished with fines of only a few million pounds which is often far less than the cost of recalling a certain product or abiding by the correct health and safety or environmental regulations.

Business ethics since the beginning of this decade has been slowly eroding; if we are to believe what we see and hear in the media. Several times a day, one can view some derogatory piece of information concerning a business. However, it must also be considered that these companies are contributing to that stigma. There have been a variety of companies and individuals who have figured prominently in the media concerning their unethical behavior.

If the company reacts in an ethically correct manner the presumption is that they possess high ethical standards (Sivaswany, 2005).

Jeffrey Gitomer once said, “Great people have great values and great ethics.” These great people start ethical companies with great values with great ethics of course. The meaning of ethics can sometimes be unclear, but the general idea of ethics is choosing between right and wrong. There are many ethical companies that treat their company and consumers well such as Levi & Strauss Co., The Hershey Company, and 3M. Despite these companies that are successful and don’t attempt to cheat the world of business, there are others that aren’t so ethical. These include: Wells Fargo, Nestle, and Chevron.

It seems in todays world ethics can be the difference for a company succeeding or failing. With the way social media is today any small scandal a company has can be turned to worldwide news overnight. That is why companies take so much pride in their images in todays world and make sure that they are making ethical decisions and also being socially responsible.