Colgate Palmolive Ethics Report

3374 Words Nov 6th, 2012 14 Pages
In recent years we’ve heard about corporate scandals involving big companies such as Firestone Tire and Rubber Company for the use of child labor, Southwest Airline’s violation of safety regulations, Fannie Mae’s underreporting of profit, Parmalat’s accounting scandal & mutual fund fraud, among others; but what do all these companies have in common? They failed to adhere to the basic ethical principles that should prevail in business activities.

Business ethics dictates a set of standard principles and values that should be taken into account in a company’s everyday activities. It is composed of both written and unwritten codes of moral standards that are crucial to the current and future activities of a business organization. It
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COLGATE-PALMOLIVE ETHICS REPORT
Colgate Palmolive’s Code of Conduct

Colgate Palmolive is recognized as one of the world's most ethical companies. When looking at news articles, company’s reports and their webpage is evident Colgate Palmolive gives high importance to aligning their company’s actions with their values.

As stated in Colgate Palmolive’s Code of Conduct their three core values are Caring, Global Teamwork and Continuous Improvement. The first one is manifested by their actions towards protecting the global environment, the enhancement of the communities where Colgate people live and work, and by the compliance with government laws and regulations. The second one is accomplished by sharing ideas, technologies and talents as a global team. The third one, by better understanding the consumers' and customers' needs and by the innovation of their products, services and processes. Later on, concrete actions that are based on these values will be discussed.

Colgate Palmolive’s code of conduct major objectives are the following:

• To value people as their great resource.
• To avoid conflicts of interest: Colgate people cannot own a stock in a company competing with or doing business with Colgate and they cannot work for a competitor of Colgate while working for them.
• To protect the company’s trade secret and confidential information.
• To maintain

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