What legislative act prompted many U.S. companies to develop internal ethical policies and procedures?
The Sarbanes-Oxley Act created new standards for the accountability of businesses and corporations and it includes penalties for acts of misconduct. The Act stipulates new financial reporting obligations, including the adherence to internal controls and procedures which are to certify the validity of their financial records. These accounting controls put into place were meant to reduce unethical/ illegal actions within an organization (Mathis & Jackson, 2011, p. 16).
What are key concepts related to business ethics that should be considered in the development of the ethics training program?
Describe the elements you will incorporate into your ethical training program (at least five).
There are several concepts which should be taken into consideration when an organization is creating an ethics training program. An ethics program will associate the behavior of employees with the primary ethical standards desired by organizational leaders. Customarily, there are surprising disparities between the ideal values of an organization and the values that are essentially displayed by employee conduct (Complete Guide to Ethics Management: An Ethics Toolkit for Managers, n.d.). The continued awareness and communication in regards to moral principles in the workplace will foster openness and integrity which are essential elements in the workplace and building teams. When employees have a vigorous coalition concerning their moral principles and the principles of the business, an individual will have the tendency to respond with potent motivation and performance.
Elements included in an ethics program include the following:
A Written Code ...
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... the compliance program. Additionally, the HR director must be sure to include in the program information concerning the above elements as well as complying with federal, state, and local legal requirements concerning discrimination, treatment errors, unionization, and other issues. The HR director must stay abreast of any changes in the laws (Mathis & Jackson, 2011, pp. 3,4). Additional responsibilities include insuring the policies are rewritten as needed, literature, and mandatory training is signed off by each employee from the top down.
Works Cited
Complete Guide to Ethics Management: An Ethics Toolkit for Managers. (n.d.). Retrieved January 17, 2014, from Free Management Guide: http://managementhelp.org/businessethics/ethics-guide.htm
Mathis, R., & Jackson, H. (2011). Human Resource Management (13 ed.). Mason, OH: South-Western, Cengage Learning.
Mathis, R. L., & Jackson, J. H. (2010). Human resource management (13th ed.). Mason, OH: Thomas/South-western
Throughout the course of day-to-day business life, the business professionals come in contact with quite a sum of ethical dilemmas. There are various ways to handle these ethical dilemmas, but failure to follow the appropriate manner could result in an unethical outcome. The ethical guides related to the book definitely help students develop an ethical character that is sure to stand out for highly ethical companies. In addition, there are companies that test how ethical applicants are before hiring them, this in turn makes getting the job more difficult and costly. However, despite the high cost and difficulty said companies stay firm to ethics, guaranteeing they get top-of-the-line employees who will act in an ethical manner. Ethics is defined
Trevino, L. K., & Nelson, K. A. (2011). Managing business ethics: Straight talk about how to do it right. New York: John Wiley.
Trevino, L., & Nelson, K. (2011). Managing business ethics - straight talk about how to
Trevino, L & Nelson, K. (2011). Managing Business Ethics (5th ed). New Jersey: John Wiley & Sons.
An organization needs to adhere to ethics in order to effectively implement its mission, vision, and objectives in a way in which offers a solid foundation to management and their subordinates to properly develop and implement its strategies. By doing so, the organization as a whole is essentially subscribing to one commonality that directs all of the actions of the employees of the organization. Additionally, it assists in preventing such employees from divergence in regard to the proposed strategic guideline. Ethics additionally ensures that a strategic plan is developed in accordance to the interests of the appropriate stakeholders of the organization, both internal and external (Jin & Drozdenko, 2010). Likewise, corporate governance that stems from various regulatory parties makes it necessary for organizations to maintain a high degree of ethical standards; this is done by incorporating ethics within the organization’s strategic plan so as to foster a positive corporate image for the stakeholders and general public (Min-Dong Paul, 2009).
Ethics or rather morals entail mechanisms that defend, systematize as well as recommend conceptions of right or wrong. Many organizations develop ethical codes to ensure employees and employers understand the difference in doing good or bad. In that respect, ethics are an essential aspect of successfully running of any organization or government. Ethics ensure employee’s productivity levels are up to the required standards. It also assists them to know their rights and responsibilities. Additionally, employers, as well as any persons in management, are guided by them to ensure they provide transparent leadership. Ethics also defines how customers should be handled. Ethical codes govern the relationship between customers and an
Nelson, L. &. (2007). Managing business ethics: Straight talk about how to do it right-4th ed. Hoboken: John Wiley & Songs, Inc.
Trevino, L. K., & Nelson, K. A. (2016). Managing business ethics: Straight talk about how to do it right. John Wiley & Sons.
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business Ethics: Ethical Decision Making and Cases. Mason, Ohio: South-Western Cengage Learning.
It is recommended that management takes personal interest in the ethical treatment of employees. The human capital is what makes the company work, and without their loyalty and service, the company would quickly collapse. Management must also ensure that employees are provided with regular training in ethics and ethical decision-making, so that when faced with an ethical dilemma, the employee would have the tools to make the decision th...
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2013). Business ethics: Ethical decision making and cases: 2011 custom edition (9th ed.). Mason, OH: South-Western Cengage Learning.
Treviño, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right Fourth ed., Retrieved on July 30, 2010 from www.ecampus.phoenix.edu