Introduction A "code of ethics" is developed by the organization that sets the trends and guidelines for ethical behavior within the organization. This defines the "principles" of the organizations that proposes the rules and laws of the organization. It "consists of general statements, sometimes altruistic or inspirational, that serve as principles and the basis for rules of conduct" (Ferrell, Fraedrich, & Ferrell, 2013, p.223). It is also a "statement of the values adopted by the company, its employees and its directors" which "sets the official tone at the top regarding expected behavior" (Boudreaux & Steiner, 2005, p.3.) The code of ethics is the "company 's written standards of ethical behavior that are designed to guide managers
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"Ethics and core values are fundamental to an organization 's reputation in the marketplace" (Rogers, 1994, p. 46). When developing a code of ethics, standard components of an ethics policy "include appointing someone to oversee ethical and compliance programs, training employees about ethics and instituting a hotline or safe reporting system that allows employees to safely report problems or violations" (Rogers, 1994. p. 46). In addition, there is "no single definition of 'code of ethics '; nor is there consistency in the language used to describe such a document" (Boudreaux & Steiner, 2005, p. 2). When planning the rationale for codes, "a numbers of simple questions can be asked before seeking to develop a code of ethics" (Lawton, 2004. p.95). In order to create a code of ethics, it must offer a statement of values, roles and duties, rights and responsibilities, ethical behaviors expected of officials, clarify procedures and sanctions to deal with misconduct, promote trust and confidence, form consistent and predetermined set of criteria for ethical conduct, and resolving possible ethical dilemmas (Lawton, 2004, …show more content…
It defines the purpose and core values that is implemented within the organization. Examples of these core values include integrity, honesty, fairness, openness, respect, and responsibility. These statements of values can have religious undertones, such as being founded on "Christian" values and/or influenced by organizations that hold values to a high esteem, such as the parent company or affiliations like the Better Business Bureau. This ethical statement serves the "general public and also address distinct groups such as stakeholders" (Ferrell, et al. 2013, p. 223). These value statements should reflect "upper managements ' desire for compliance with the values, rules, and policies that support ethical culture" (Ferrell, et al., 2013, p. 223). These value statements is often vague and unspecific, as its purpose is to be able to address any encompassing issues of behavior and decisions. "Some codes are short, setting out only general guidelines, and others are large manuals, encompassing a huge variety of situations" (Magloff & Media, n.d., par. 1). The statement of values should define the mission of the organization, as it is to provide a service at the upmost ethical standards. It is to comply to all laws and regulations of the government and to conduct business in consideration to the respectful rights of the
"Ethics and core values are fundamental to an organization 's reputation in the marketplace" (Rogers, 1994, p. 46). When developing a code of ethics, standard components of an ethics policy "include appointing someone to oversee ethical and compliance programs, training employees about ethics and instituting a hotline or safe reporting system that allows employees to safely report problems or violations" (Rogers, 1994. p. 46). In addition, there is "no single definition of 'code of ethics '; nor is there consistency in the language used to describe such a document" (Boudreaux & Steiner, 2005, p. 2). When planning the rationale for codes, "a numbers of simple questions can be asked before seeking to develop a code of ethics" (Lawton, 2004. p.95). In order to create a code of ethics, it must offer a statement of values, roles and duties, rights and responsibilities, ethical behaviors expected of officials, clarify procedures and sanctions to deal with misconduct, promote trust and confidence, form consistent and predetermined set of criteria for ethical conduct, and resolving possible ethical dilemmas (Lawton, 2004, …show more content…
It defines the purpose and core values that is implemented within the organization. Examples of these core values include integrity, honesty, fairness, openness, respect, and responsibility. These statements of values can have religious undertones, such as being founded on "Christian" values and/or influenced by organizations that hold values to a high esteem, such as the parent company or affiliations like the Better Business Bureau. This ethical statement serves the "general public and also address distinct groups such as stakeholders" (Ferrell, et al. 2013, p. 223). These value statements should reflect "upper managements ' desire for compliance with the values, rules, and policies that support ethical culture" (Ferrell, et al., 2013, p. 223). These value statements is often vague and unspecific, as its purpose is to be able to address any encompassing issues of behavior and decisions. "Some codes are short, setting out only general guidelines, and others are large manuals, encompassing a huge variety of situations" (Magloff & Media, n.d., par. 1). The statement of values should define the mission of the organization, as it is to provide a service at the upmost ethical standards. It is to comply to all laws and regulations of the government and to conduct business in consideration to the respectful rights of the