Organization And Management : Organization

A code of ethics is a vital for any business, because if breaches of ethics accrue it can put companies in serious trouble with consumers, other organizations or government authorities. Making a code of ethics helps decision-making easier at all levels of an organization by reducing doubt and considerations of individual viewpoint in ethical standards.

A code of ethics is a formal document in which is used to assist members of an organization, to know what’s ‘right’ and what is ‘wrong’ in the work place and applying it to their decisions. A code of ethics is a written set of rules or guidelines to help the workers and management ‘conduct’ or direct their actions with its primary values and ethical standards. A code of ethics is important because without it, employees and management wouldn’t have guidelines and the establishment would resemble a crazy house. Consider the establishment, Dunkin Donuts. Dunkin Donuts is a food establishment well-known for their famous donuts, coffee and their slogan “America runs on Dunkin”. Without a code of ethics, the industry would most likely be

We as business owners, management and or in a role of authority must set, address and comply with a solid foundation of ethics. “A code of conduct is the single most important element of your ethics and compliance program. It sets the tone and direction for the entire function. Often, the code is a standalone document, ideally only a few pages in length. It introduces the concept of ethics and compliance and provides an overview of what you mean when you talk about ethical business conduct.”

Code of Ethics is a written set of rules issued by an organization to its employees and administration to aid them provide treatment in accordance with its prime values and ethical standards.

“Analytically, a corporation’s code of ethics is the documented, formal, and legal manifestation of that organization’s expectations of ethical behaviors by its employees” (Adelstein & Clegg, 2016, p. 55). The corporate credos and code of conducts provide employees with an understanding of the policies of the organization and the organizational ethical position. For these codes to be effective, all employees of the organization must be aware of them. The visibility of the code of conduct that enables the organization to be judged as ethical.

Everything in life has a trade off. "Ethics is defined as the moral principles that govern a persons behavior." Ethics is constructed by society, and personal values, the purpose of code of ethics is that it gears all organizational conclusions, creating a groundwork in which all conclusions are drawn. This can benefit to build a sense of barriers through the organization. A well thought out code of ethics can assure a companies standing. Looking at the world of business and ethics, it is clear to see that there are many possible tradeoffs. One can be loyal to the company, and not have the best success, or one can be deceiving and manipulating in order to become rich and successful. The motivation for researching this topic is to see how the

SNOP is the Systematized Nomenclature of Pathology. Published by the American College of Pathologists, it has been “useful in classifying pathological specimens” (McWay, 2008). Although SNOP was commonly used in pathology departments, it has gradually lost favor because focus was placed on standardized nomenclatures by accrediting agencies (McWay, 2008).

A code of ethics highlights the responsibility and accountability standards of each and every employee within the organization. These codes are also motivating factors that guide the employees’ behavior, set the standard regarding ethical conduct, and build an organizations trustworthiness within

The concept can be complex to grasp sometimes because it is so vague. However, leading by example is the ability to lead through explanation as well as being able to demonstrate what you want to be achieved. The leader is being watched at all times, so it’s important for them to remember to show determination and strength. When they present these traits, the followers feel confident that their leader is cut out for the job and it stimulates them to operate at their potential.

A code of ethics refers to a framework of rules and regulations that establish guidelines for professional behaviour. It may include an organisations mission and outline of values that employees are expected to work by.

Ethics are the principles and values an individual uses to govern his activities and decisions. In an organization, a code of Ethics is a set of principles that guides the organization in its programs, policies and decisions for the business. The ethical philosophy that is used by an organization to conduct business can affect the reputation, productivity and bottom line of the business (1).

The Code of Ethics “offers a set of values, principles and standards to guide decision making and conduct when ethical issue arise…specific applications of the Code must take into account the context in which it is

The code of ethics and conduct is a written set of rules and regulations that provides guidance to employees of an organization on how to conduct themselves and carry out their duties in line with the organization’s principles. The code of ethics and conduct is also be backed up by suitable disciplinary actions. A code of ethics and conducts helps employees deal with ethical issues and other gray areas that they face as they execute their daily activities. An effective code of ethics and conduct is required for an organization to run smoothly and maintain a positive image. Having an ineffective code of ethics and conduct is almost like having none.

The Code and Standards where first created in the 1960s and have been updated regularly since then. The Code of Ethics is an ethical benchmark for investment professionals around the world. The standards have generally been adopted regardless of job function, cultural differences and various laws that differ from country to country. As a CFA member, you are obligated to adhere to the code and its ethical standards.

These four broad principles have many variations and considered as exclusive principles of organization which are as under: