Code Of Ethics In A Business Organization

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A code of ethics is defined as a document which outlines the mission statement of the organization and the vision of the business upon which it was stood in the market. The code of ethics defines those ethical principles which helps in determining the core values and all of such standards which the organization wants to follow with the purpose to achieve their goals and to make a significant yet a reputed position in the market industry (Coenen, 2013).
The code of ethics in terms of a business organization are defined as:
• Compliance with the legislation, rulers and regulations
• Conflicts of Interests
• Insider Trading Policies
• Harassment and Discriminations
• Health, safety and Security
• Price Fixing
• Bribery or Corruption
• A system
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Also paying tax and maintain financial maintenance.
This code of conducts sets the standards and sop’s for organization and you can easily manage the operational activities and every employee had information about his company’s legal requirement, rules and regulations, style of working, international market relations and how to report and whom to report. What are the limitations of an employee, taxations, financial condition, and what are laws regarding job and their facilities all these things are clearly written in those code of business conduct so you can better understand the
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Managers and staff, at all levels, must be provided with the necessary training and support, and the code itself must be supported by appropriate disciplinary and whistle-blowing/speak up procedures. The ‘tone at the top’ must permeate through the organization and the code must be owned by everyone.
The code of ethics or the ethical code of conducts defines those principles of ethics that are found to be fundamental and essential component while standing a business organization. Although they are found to be the foundational component in every aspect of life but in terms of businesses, they are highly appreciated and considered as the building blocks in the establishment of a business organisations or company. They defines the moral values and core values of the organization and gives a positive impact on the society and in the market as well; making the company a highly reputable one. In addition , a code of ethical conduct belongs to the organisation in question and, therefore, it should be specifically tailored to the needs of that organisation. This guidance should not be addressed with a view to incorporating every element of the guidance into a code. The key is to keep the code simple and
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