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A code of business ethics is a written document specifying expected employee-manager behavior conduct in the organization. A code of ethics sets out the ethical principles and best practices of an organization to uphold fairness, dignity, and professionalism. Violating the code of ethics will result in punishments, including termination, for members of an organization.
A code of business ethics is important in an organization because all strategy formulation, implementation, and evaluation decisions have ethical ramifications. The aim of the code of business ethics of the organization is to prevent corruption encourage fair and ethical conduct, among other things, and ensure that the company's business is done in a consistently lawful and ethical way to the maximum degree possible.
To ensure that everyone in the company is clear about the company's mission, values, and guiding principles, a code of ethics is important for companies to establish. From a regulatory and law-enforcement standpoint, it provides staff with a framework of which rules exist and how to act in the gray areas of value-based ethics that are not always clear. It shows that the code of business ethics plays an important role in an organization that brings toward the goals.
Other than that, the role of the code of business ethics may include seven principles of admirable business ethics. The first is to be trustworthy whereby no person or organization wants to do business with an individual that they do not trust. Secondly, being open-minded involves continually asking all internal and external stakeholders for 'ethics-related feedback'.
Thirdly, honor all commitments and obligations, which can bring the employee to become more responsible in doing their work. Fourthly, do not misrepresent, exaggerate, or mislead with any print materials because it may lead to copyright problems in the business. Fifthly, be visibly a responsible community citizen as it shows our culture in the country to other businesses. Sixthly, utilize accounting practices to identify and eliminate questionable activities. Finally, follow the motto of do unto others as you would have them do unto you so that people can respect each other and follow business ethics.
Establishing a consistent code of business ethics is a key element in creating an ethical culture in organizations. Such unethical practices that concern every field of online commerce are internet fraud, hacking into business machines, spreading viruses, and identity theft. On the other hand, periodic ethics workshops are required to raise awareness of working environments under which ethics problems should occur to ensure that the code of ethics is read, recognized, believed, and remembered. So that employees will know about the ethics and apply it in their workplace.
As well as ethics training programs can be carried out to create an ethics culture. These training sessions are aimed at improving the code of ethics of the organization, clarifying what activities are and are not acceptable, and resolving future ethical dilemmas. It should include messages from the CEO or owner of the business emphasizing ethical business practices, the development and discussion of codes of ethics, and procedures for discussing and reporting unethical behavior.
Besides that, whistle-blowing also is one of the ethical cultures that can be applied in the organization. Whistle-blowing refers to policies that require employees to report any unethical violations they discover or see in the firm. Whistleblowing is an effective and legitimate way of trying to monitor companies' future immoral actions, and also helping to create a sense of accountability and transparency. To continue their often situation of reducing organizational misconduct, society must sustain a sense of support and motivation for whistleblowers. It should be practiced by employees and organizations should have procedures that enable whistle-blowing as this activity can prevent corruption in the organization.
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