Corporate Social Responsibility (CSR) And Business Code Of Ethics

1349 Words 5 Pages
Corporate Social Responsibility (CSR) and Business Code of Ethics are a vital piece to operating a business. The code of ethics involves guidelines that aid employees when conducting business transaction with honor and integrity. Corporate social responsibility involves a company including concepts that concern cultural, social and environmental issues in their business transactions, operations and how they interact with stakeholders. If one were looking to review both concepts, one would simply read a company’s corporate mission and value statement. Lincoln Financial Group (LFG) is a company that proudly boasts their core values for review by shareholders and stakeholders alike. This paper will provide an in-depth review of both concepts …show more content…
With all of the agencies that LFG is required to report to, would it not be best to have stringent ethical and CSR guidelines for all to adhere to. Also, a company with such a magnitude of responsibility bear a responsibility to their employees and stakeholders alike. A company that has a public image must show concern for cultural, social and environmental issues surrounding their businesses.
Another important and vital piece for LFG is to illustrate how important and dedicated the company is to managing sustainability for the future. LFG governance council consistently evaluates environmental, social and cultural factors that may at one point impact their operations. Therefore, they took steps to create a Sustainability Management System (SMS) to assess and manage any impacts the company may have and steps are taken if any critical areas are identified (LFG,
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The Compliance Department have developed teams and guidelines to handle antitrust, conflicts of interest, financial controls that include money laundering, improper payments/foreign corrupt practices, insider trading, solicitation, registered representative monitoring and various other procedural policies that govern all employees and non-employees that represent LFG in regard to the sales of financial investments. All audits are conducted in a manners where controls are in place using Information Management Technology. For instance, if there is a concern with unethical trades conducted by a Registered Representatives a report is sent to the compliance department via computer for a compliance review and approval. Registered personnel personal accounts are monitored for outside business activities and to ensure no large transactions have gone unreported. Lastly, departmental audits are conducted with on-the-spot reviews. For example, if the compliance department reviews the accounting department it is done via a surprise visit, this way employees cannot prepare for the visit and are not able to attempt to hide any

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