Acting with honesty and Integrity It means to act with honesty and integrity. It is included in all financial records and business connections with customers, competitors, and vendors. Accurate Books, Records, and Reports Data gathering should be accurate in all communications, for example, financial information, personal resumes, and quality and safety reports. All personnel are responsible for the accuracy of information and we should not add wrong information such as expense reports, benefits claims, invoices, or entries in financial books because inaccuracies may undermine the confidence of customers and will harm our reputation. Requirements for considering accurate documents are:
- Respond truthfully to all questions
- All entertainment should be valid for business purposes and controlled by receipts.
- Do not distort the true nature of the transaction no matter how insignificant the may result be.
- When you find that some documents do not seem right, share the document with your manager who has more authority.
For seeking advice about a record that might not be correct, ask about it from your manager who is the authority for further inquiry. In all departments, we have to submit accurate information with whom we interact such as owners, customers, vendors, and Joint venture partners. For example, if a manager working on two projects one project is over budget and another one is under budget the manager incurs a small amount of the expenses to the project. This is not acceptable no matter how insignificant the amount. Dealing Fairly with Customers All customers should be treated fairly and with respect and the promise should be given to them. Loyalty may be jeopardized by small untruth or dishonesty which may lead to costly legal action. It is highly important when communicating with customers and the public to be truthful when presenting products, services, and prices and never mislead customers only claims products that you have knowledge about and have adequate information and when communicating with customers and the public be truthful without omission, avoid misleading customers. For instance, during a meeting, you find out that a colleague's representation of services is not correct. Then if it is in a meeting and the error appears to be inadvertent correct the misstatement during the meeting or talk after the meeting. Competition Law and Antitrust Our policy is to comply with all laws and regulations because competition laws are designed to prevent our business from anti-competitive practices, which may affect prices unfairly and limit competition. Therefore, do not make unlawful agreements with competitors that are:
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- Reduce output of inventory or keep inventory offline.
- Allocate products, territories, and customers.
- Boycott certain customers or refuse to deal with suppliers.
- Below-cost pricing which may create a monopoly
- Exclusive arrangements can reduce access to customers.
For example, an employee has a meeting with a competitor who is planning to build hotels in the market, competitor suggests employee that the two chains should coordinate the site of new hotels to avoid crowding. The Alexandrite associate has to change the subject and start a new conversation and after that contact the Alexandrite Law Department for guidance. Dealing Fairly with Competitors Discussing competitors' services and products should be done with caution because we should not make false claims that disparage competitors. However, we may point out legitimate weaknesses of products or operations. Respect competitor's trade secrets and do not authorize confidential information. If there is any doubt about any competitive strategy it is necessary to ask about it from Alexandrite Law Department. These are violating competitor’s laws,
- Any predatory or blow-cost pricing that causes monopoly competitors' ability or deter competition.
- Blocking access, the competitor to the customer, raw materials, and distribution channels.
- Prior approval is required if customers want to buy or lease a product.
For instance, when we want to hire a competitor employee who is exposed to confidential information, we have to be sure that he will not use the competitor's confidential information in his new work. Commercial Bribery and Improper Gifts Payment made on behalf of the company must be made for lawful and legitimate purposes. Never take bribes or kickbacks because it is an unethical practice and prevents the company from receiving the best possible value in negotiating for services. Promoting business through bribery is illegal in the U.S. and other countries where the company does business. When the value of a gift exceeds the annual value limits, your manager may make an exception in some circumstances and a written record exception must be maintained. For instance, a vendor purpose floor-level seats for sporting events. The vendor explains that because he is not able to attend this sports event and he does not want to waste the ticket, he offers these tickets and he does not want anything in return. The correct action is even if this gift does not have an improper advantage, the associate must politely decline the tickets because the value is more than the limit specified which is higher than half of the income of the associate. At a business dinner, the vendor invites the employee to talk about over dinner and paying the entire bill. The correct action is if the meal is not inappropriate, the associate may accept it.
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