Codes of ethics, which govern decision-making, and codes of conduct, which govern actions, represent two of the most common ways that companies self-regulate, “A code of conduct expands on the moral principles embodied in a code of ethics”. The code of conduct should be the core of any zero policy ethics policy for an organization, “Creating a code of conduct requires input from top-level executives, corporate lawyers, and human resource personnel. The code should address the wide range of legal expectations and ethical risk unique to the organization or job title” (Collins, pg. 65). These two codes together would make a solid zero policy ethics policy functional.
In the United States, “The NYSE recommends that a code of conduct address seven topics: Conflict of interest, corporate opportunities, confidentiality, fair dealings, protection and proper use of assets, compliance with laws, Rules, and Regulations and Encouraging the reporting of any illegal or unethical behavior” (Collins, pg 65). By having these seven topics on the code of conduct, it gives employees a guide on being an expletory employee, while understanding the consequences of unethical actions and behaviors.
In the video Siemens Global was the complete opposite of ethical business and showed no signs of having...
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...– wherever we do business. A key element of integrity is compliance: adherence to the law and to our own internal regulations. We have zero tolerance for corruption and violations of the principles of fair competition”.
Siemens can move beyond compliance to develop a healthy ethical climate if they stay on the course they are one and keep trying to improve themselves, employees and services. They have completely turned around since 2006 with a direct assault on corruption that was taking place and they succeeded and will hopefully continue to lead by example and help other companies learn from the mistakes Siemens made, “Siemens received the highest possible rating on the Dow Jones sustainability world index. U.S. regulators praised the firm for its anticorruption initiatives, holding it up as a model for other companies charged with corruption” (Johnson, pg. 356).
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