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Nowadays, society is governed by the implications of rules and legal restrictions. All of these rules were created to uphold and maintain the idea of ethical and moral values. Even children growing up were taught by some very important codes of ethics at school. These lessons learned as a youth growing up carry over into adulthood, as an employee or manager. Managers and workers both follow a similar code of ethics within the work place. Today, as a management consultant, I am going to prepare a code of ethics for my clients as they have recently started a restaurant called Knox, it is important to have a code of ethics in every company for their employees and also a circular by explaining the purpose and benefits of a good ethics. And finally, a brief report on the steps of strategic formulation and implementation.
2.0 The Code of Ethics
Knox expects every employee to seek and understand the truth in all aspects of their work. Staff members are to act the highest standards of honesty, integrity, respect and fairness when dealing with customers and employees. As an employee, you will be expected to read and follow these policies and sign a statement to that effect.
Code of Ethics Overview
All Knox employees and directors are expected to conduct Knox’s business in accordance with high standards of honesty and integrity, which include:
• Honest and ethical conduct, including the avoidance and ethical handling of actual or apparent conflicts of interest between personal and professional relationships and between personal interests and the business interests of Knox;
• Full, fair, accurate and understandable disclosure in the periodic reports required to be filed by Knox and in other communications made by Knox;
• Adapt to applicable governmental laws, rules and regulations, including product safety, and dealings with competitors and other employees
This Code also contains guidelines to assist employees and directors in acting and making decisions on behalf of Knox consistent with these standards and avoiding conflicts of interests. No guidelines can be all-inclusive, however, responsibility for proper conduct rests with each Employee and Director. If you are faced with making a difficult decision or have questions about the applicability of the Code, you are encouraged to discuss the matter with your supervisor.
Abuse of Position and Conflict of Interest
• An employee shall not use or attempt to use his/her official position to secure unwarranted privileges, advantages, or exemptions for the employee or others.
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• Employees shall not use undue influence to gain, or attempt to gain, personal advantage or advantage for a family member or friend in the courts.
• No employee shall accept or agree to accept any advantage such as gift, favour or anything of value based upon any understanding, either explicit or implicit, that the official actions, decisions or judgment of any employee or official would be influenced thereby.
• Employees shall report to their supervisor any offer of a bribe or gratuity.
• No employee shall request or accept any fee or compensation beyond that received by the employee for any matter related to the employee's job.
• An employee shall avoid conflicts of interest, if the acceptance of an advantage could affect an employee’s objectivity or induce him to act against the Knox’s interests, the employee should decline such advantage. Similarly, if the acceptance could lead to questions or complaints of bias or impropriety, the offer should also be declined.
• No employee shall intentionally alter, destroy, mutilate, backdate, or fail to make required entries on any records within the employee's control, or give false information. This provision does not prohibit alteration or impingement of records or documents pursuant to law, court rule or a court order.
• No employee shall refuse to enforce or otherwise carry out any properly issued rule, directive or court order, nor shall any employee exceed that authority.
Relations With Customers
Our success depends on building good relationships with our customers and suppliers. Developing an atmosphere of trust and selling our products on the basis of merit are fundamental to this goal.
Employees and Directors must attempt to deal fairly with the Knox’s customers, suppliers and even competitors. You should not take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair-dealing practice.
Health and Safety
Knox continually strives to provide a safe and healthy workplace in compliance with all applicable governmental laws and regulations. Each employee is expected to comply with all applicable laws, rules and regulations applicable to workplace health and safety. Employees whose position necessitates compliance with any workplace safety and health requirements will be provided with appropriate training.
Accurate Accounts, Invoices and Records
All Company accounts, invoices and other documents must be prepared and maintained with strict accuracy and completeness. All assets, liabilities, revenues and expenses must be recorded in the regular books of the Company in a manner consistent with Company policies and procedures.
No employees may accept any form of paid employment outside his Knox duties without the written permission of the Director. This includes direct employment and appointment to any Board of Directors of any company or organization or work of a freelance or casual nature.
Employees and directors must maintain the confidentiality of any information entrusted to them by Knox or other companies, including our suppliers and customers, except when disclosure is authorized by a supervisor or legally mandated. Unauthorized disclosure of any confidential information is prohibited.
3.0 The Purpose and Benefits of Good Ethics
Code of Ethics is about the values, rights and responsibilities, sharing and fairness. It is more than just understanding the rules and how the company apply to everyday duties. Therefore, many organizations govern themselves with a code of ethics, especially when handling special issues like banking, health care, or interactions with other cultures. In addition, a code of ethics can also increase organization’s confidence by showing others that employee of the organization are committed to the basic ethical guidelines in doing their work.
Organizations need a formal code of ethics to ensure employees are positively representing the organization to co-workers, customers, and any contacts outside the organization. The concept of the ethics will outline what is the organization deems right or wrong on all topics which have ethical and/or moral implications. The code of ethics policies are based on how people are treated as human beings regardless of gender, age, colour, or background. Maintaining confidentiality of personal information and providing support or products based on the customer’s needs and not the personal goals of the employee will also be addressed. In most circumstances, behavioural expectations and diversity are two topics specifically addressed in the code of ethics policy.
Business ethics are a very important factor in running a business. It is the conscious of the company. A company that doesn’t have ethics is a company that will eventually go out of business. Many companies are getting involved in ways to ensure that they are providing high-quality business ethics.
There are various types of benefits from managing ethics in the workplace such as:
• The code of ethics improves strong teamwork as well as productivity. These ethics guidelines align employee behaviours with top priority ethical values preferred by leaders of the organization. Ongoing attention regarding values in the companies builds openness, integrity and community. Employees would feel strong alignment between their values and the organization and in order to react with strong motivation and better performance.
• To ensure employees throughout the organization, regardless of their level, require constant communication as well. Communication from upper management to down is the key to ensure all employees are at the same frame of thought as upper management. This provides clear and strong communications, with no room for interpretations and to ensure the organization is providing everything employees need to act in the best interest of the organization. This information can come straight from upper management or from a line manager. Regardless, the information needs to be clear and direct.
• Code of ethics helps to maintain moral principles while things happened. Attention to business ethics is important during times of fundamental change. During these times of change, there is often no clear direction to guide leaders through complex conflicts about what is right or wrong. Continuing attention to the ethics in the workplace helps leaders and staffs on how they want to act.
Managers and employees both follow a similar code of ethics within the work place, such as working for the greater good for the company, treating co-workers and others with respect, and not stealing. There are also many differences between a managers and subordinates code of ethics at work. The manager has an ethical responsibility to ensure a safe work place, and to serve as a moral leader and set a good example to the rest of the employees. This can be accomplished by being honest, compassionate, and listening to what the subordinates are saying. The manager must also stay away from any prejudice such as religion, age, or race. Then, employees would have an ethical responsibility to work hard, follow instructions from the managers when needed and complete the task that is assigned.
4.0 Steps in Strategic Formulation and Implementation
Strategic planning process is probably the most important part of strategic management. As the business environments are extremely competitive these days. In order to go ahead with the others, just the simple planning or forecast based planning are not enough, we must produce and create strategic plan for the organization. The strategic planning process involves every aspect of organizational planning, starting from setting the goal to formulating the planning, implementing those to achieve the goal and finally evaluating those planning and if necessary modifying those planning as well.
The following two tasks are the main tasks within the whole strategic planning process:
This is the most vital part of strategic planning process. It includes developing a business mission statement which is an enduring statement of purpose that distinguishes one business with other similar business. A mission statement identifies the scope of a firm's operation in product and market terms. Then, is to identify an organization's external opportunities and threats and also to determine internal strength and weakness. External opportunities and threats refer to economic, social, cultural, political, technological as well as competitive trend and also events that could benefit or harm organization in the future. However, internal strengths and weakness refer to any controllable activities within an organization that are performed especially well or poorly. And finally, is to establish long term objectives, this can be defined as specific results that an organization seeks to achieve its basic mission.
Implementation of a strategy is not an automatic process and this part of strategic planning process takes the most of the time. Strategy implementation means mobilizing employees and manager to put formulated strategies into action. It needs the involvement of a lot of individuals in the organization. We have to utilize the resources of the organization in a systematic way to successfully implementation the strategy. The resources may include the financial resources, human resources or any other kinds of resources etc. The method of implementation has a great impact on whether it would be successful or not. It should be noted that the manager’s task is more than just the internal operation of his organization, they must also manage its fit with the environment. Also, every organization is in need of great leadership. Great leaders can utilize the resources of the organization in an effective, efficient and professional way to make the implementation successful.