What Is Lfg Corporate Social Responsibility

Amazing Essays
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,
…show more content…
There is almost always employees that break the law, bend the rules or do not comply with company and industry guidelines. Therefore, LFG attempts to mitigate their risk by ensuring that all are educated in regard to the code of conduct and conflict of interest policies. LFG beliefs is that these policies are the core of establishing a sound ethical culture. Employees are required to review the policies on an annual basis by completing intranet courses and attending live seminars. Also, there is the requirement that all Registered Representatives must complete retraining, retesting and relicensing every 2 years with Regulatory Agencies. Lastly, LFG has support systems in place for employees to “do the right thing” (LFG, 2015), which simply means if an employee bears witness to any wrongdoing, there is a chain of protocol if an employee is not comfortable revealing what was witnessed to their direct supervisor or others in their chain of

Related Documents

  • Decent Essays

    Applying ethical behaviors and moral beliefs into the business environment is known as business ethics. Recently, in the business world, ethics have been a topic that is acquiring a lot of attention (Lewis, 1985). Furthermore, when a company maintains high standards of ethics, everyone within the company will benefit. Ethical ideas may vary from a company to another. Managers’ ethics and how they are influenced by their morals plays a big role in the company’s decisions.…

    • 769 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    The stakeholders in the company typically define the rules and regulations of business conduct that may affect their standing in the community and the quality of the products they produce. The owners, stockholders, and the upper management are typically involved in conducting the affairs of the company, which can also be managed through various strategic plans in an effort to reduce corruption and unethical practices. In this manner, one strategic plan to include as many risk factors as possible is found in the integrity continuity plan to help identify and prevent major ethical…

    • 945 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Monitoring CSR Activity

    • 777 Words
    • 4 Pages

    Strong reports helps in ensuring a good social and environmental performance. CSR should be reported to both internal and external organisations related to the company. The internal group consists of the employees and the board. The external group consists of stakeholders, shareholders, global investors, suppliers, government, private organisations and the remaining audience. CSR reports should be carefully prepared as they have a huge impact on company’s public image.…

    • 777 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    (Taking Sides. page 55) Many businesses are starting to take form in the ERM strategies to direct their stakeholders. The groups participating within an organization (stakeholders, customers, suppliers, etc.) want to be in an organization that has great reputation for integrity. Building a strong fundamental framework around an ethical principles is to build behavior relation with their stakeholders, this is the core to implementing ERM.…

    • 1533 Words
    • 7 Pages
    Decent Essays
  • Decent Essays

    Part C. Monitoring, Auditing, Reporting Excellent management requires an organization to recognize that their ethics and compliance guidelines affect every decision and activities of the company. Therefore, it will guide the train of thought and action that will help develop the culture of the business in a subtle manner. An important factor for an ethics and compliance program is to include processes to measure its performance. The following will explain the processes AlphaTech will use to monitor, audit, and report employee misconduct. Monitoring: Measure and procedures to be used to monitor employee misconduct Surveys will be used to understand the general awareness of the employees of AlphaTech ethics and compliance program.…

    • 817 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Kellogg’s demonstrate remarkable leadership across their global business units with superior ethical standards and sustainable business practices. Their CSR responsibilities are distinctly outlined in their Global Code of Ethics, a code that governs global partnerships, suppliers, relationships and business ethics. Moreover, the Board of Directors and senior leadership are accountable for mandating, owning and promoting the code. Companies that operate across borders, be it in developed countries or emerging markets, have a responsibility to conduct business in an ethical manner. This responsibility and commitment to employees and shareholders, communities and the environment, customers and suppliers and regulatory bodies is supported by leadership and is as important as the core business itself.…

    • 1157 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    HRM controls various activities related to employees in the organization. The CSR Limited corporate social responsibility programs run under the effective leadership of the HRM department that influences diversity and strategy. However, more needs to be done to ensure total commitment of CRS Limited staff in corporate activities while maintaining high productivity. Strategic roles of HRM include managing the organizational environment, developing strategies that fit in the environment and setting goals for employees. The HRM should impact human knowledge on employees by equipping them with skills and experiences that support the strategy.…

    • 939 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Moreover, it should be relevant to strategic planning by focusing on the strategic issues and as such take a holistic approach. The management should ensure that the environmental scanning process starts with a collection of the relevant data, such as AGC’s mission, vision, and functional plans and thus taking into consideration the environmental scanning process. Therefore, the design of the environmental scanning process should entail the need to the possible influences in the organization. Additionally the process should lay out its purpose of plotting the issues or threats that would likely have an effect on an organization and as such lay out plans of coping with these threats. The process should be proactive to the environment.…

    • 726 Words
    • 3 Pages
    Decent Essays
  • Decent Essays

    ENDORSEMENT JLT places high value on corporate governance and adhering to industry best practice. In order for JLT to live up to its “Client First”value, it is imperative that all employees behave in an ethical manner and continue to comply with the fit and proper standards. JLT’s Board of Directors take responsibility for and are ultimately accountable for compliance. The compliance department has been tasked by the Board of Directors to implement the necessary measures to ensure JLT’s compliance. This includes ensuring that all employees behave ethically and with integrity as well as comply with the regulatory requirements and adhere to the various codes of conduct and best practice standards.…

    • 1567 Words
    • 7 Pages
    Decent Essays
  • Decent Essays

    Introduction: At Company X, our goal is to provide an atmosphere of the highest professional integrity. Creating and continuously enhancing our image is of utmost importance to our long-term success. The Ethics Program described below was created based upon shared values between our company and the communities we serve. It is expected that all employees adhere to the guidelines set forth in this document. A.…

    • 1207 Words
    • 5 Pages
    Decent Essays