My code of ethics share commonalities with that of Verizon, and Colgate-Palmolive. These Organizations, including mine, emphases clarity, and healthy and active relationships with stakeholders, and the company as prescribes by Johnson (2013). According to Magloff (n.d.), Verizon code of ethics specifies guidelines on fairness and integrity, safeguard company information, keeping accurate records, and conflict resolutions. I also found Colgate-Palmolive code, shared by Magloff (n.d.) is center on building relationships with subordinates, management team, company, customers, communities, government and the law. Discussion of Synthesis Arguments
Secondly where there is gain in compatible degrees they may result in a shift in the distribution of power (Zaleznick, A. 1970). Ethics plays a role in all levels of organizational behavior. Verizon wireless communications was the first to create an ethics office which was spearheaded by one of the executives responsible for the compliance. Verizon reports their business code of conduct has become a model for other businesses and organizations. Corporate codes of conduct operate in a legal and ethical environment while addressing multiple audiences both inside and outside the organization (Willerton R. 2015).
There are many reasons why ethical problems continues to be ignored and one of the most obvious is based off money solely and how much money an organization can profit for the company itself and to fatten their pockets. In a nonprofit organization, the board of directors are completely liable for any actions that are taken by any employee or volunteer, under their command. This includes the CEO and the CFO. It does not matter, if the actions were made as a direction of the board, or not. A Code of Ethics/ Code of Conduct or Ethics and Compliance program are only as good as the persons for which that they apply.
Decisions taken within an organization are made by the leadership in light of the company’s culture, principles and policies. Leaders are the role models as they set the tone for the ethical stance of their individual followers, or the group they lead. As an ethical leader, they are expected to take responsibility and work to correct mistakes. They must ensure the company has an effective internal controls in place to identify unethical practices. In my opinion, big companies in their audit and compliance committees should have members who may act as ethicist to assess whether the actions of the company are consistent with the desired ethical
Comcast Spotlight offers both financial and nonfinancial compensation as part of the overall compensation package for both sales and non-sales employees. As an Account Executive my financial compensation package includes a salary, commission on sales, bonus opportunities, and benefits. My salary works out to be about 25% of my total taxable income. I make 8.5% commission on the advertising dollars I bring in. Also, my commission rate doubles after I meet my quota for the year. The benefits include comprehensive health care insurance, 401K, and a stock purchase plan. The financial compensation is very competitive in the media sales within media sales in Chicago. An example would be an outdoor advertising company in the market is 100% commission with a 4.5% rate. An outdoor media Account Executive could very easily generate double the revenue, and not make the same as Account Executive with Comcast Spotlight.
(Secgov, 2015). The board is allow to oversee the audit process, to establish audit rules, and to enforce the compliance of these rules by significantly increasing criminal penalties for violation of the security act. The act also mandate PCAOB to impose audit standards that requires document retention and internal control testing. The second title of the act was an amendment to the meaning of auditor’s independence. It also imposes additional
Organizational culture; let’s begin with the definition. “A teaching process in which organizational members teach each other about the organization’s preferred values, beliefs, expectations and behaviors.” In researching which of the eleven areas that are being employed by the immense wireless communications company Verizon. The goal; formal statement sets itself ahead of the others. Granted, the carrier excels in several areas of culture change; but, the one sector that seemed to stand out among the eleven points taught in the week 's reading was Formal Statements.
Apart from that, ethics and high integrity could also increase the confidence of customers towards the organization (Trevino & Nelson, 2010). On contrary of that, according to Cadbury (2002) argument on unethical behaviour or a lack of corporate social responsibility, by comparison, may damage a firm 's reputation and make it less appealing to stakeholders and profit could fall as a result (Cadbury S., 2002). Besides
Ethical issues in accounting and finance. Summary This task analysis the issue of ethics in accounting and finance as discussed in the International Journal of accounting and finance. Currently, ethics of any firm is an important topic due to the numerous scandals that have taken place in different countries which have resulted in damage to the economy and society.
As stated in Principle 1, The Board of Directors directs the Group’s risk assessment, strategic planning, succession planning and financial and operational management to ensure that obligations to shareholders and other stakeholders are understood and met. The board of directors has a collective responsibility for the management of the group to make sure the group is on the way to approach to their objectives while the non-Executive Directors are responsible for bringing independent judgment and scrutiny to decisions taken by the Board of Directors and providing objective challenges to management. Besides, the board of directors also function as formalising and adopting a set of Code of Ethics through the Code of Conduct as Recommendation 1.3 as stated in the Malaysian Code on Corporate Governance 2012 to make sure its compliance, establishing an appropriate set of corporate disclosure policies and procedures and ensuring a whistleblowing mechanism is in place. The Board of Directors recognizes the importance of independence and objectivity in its decision making process. The Directors are professionals of high calibre and integrity and possess in-depth knowledge and experience of the business to enable them to discharge their duties effectively.
A) Introduction Unethical behaviors in business affect everyone since you either work in the field or are a consumer of its services. Unfortunately, almost every company usually has individuals who act unethically whether it is for their personal benefit or for the sake of the company they work for. Unethical behaviors in business might be as simple as using company property or funds for personal gain to inside trading and financial fraud. According to The Chartered Institute of Management Accountants, nearly one third of business professionals feel pressured to compromise their ethical standards and are increasingly pushed towards unethical behavior. Moreover, “misconduct is common and accepted by business services professionals, the integrity of entire economic systems is at risk”, states Jordan A. Thomas, partner and chair of the Whistleblower Representation Practice at Labaton Sucharow law firm.
Review of Literature Unethical behavior can tarnish a company’s image and reputation. If a company is unethical, they may have to spend additional money to improve their public image, as well as gain back as many customers as possible. The reason I have chosen to use articles that are quite a few years old and that are not so recent is because I feel that they are very good examples of what I am trying to prove in the terms of ethical behaviour within companies and these specific articles relate well to my chosen topic.