Question

What is the role of ethics within corporate governance? Why do corporations establish codes of ethics? Do you think they are effective? Why or why not? Should there be repercussions for failure to adhere to corporate ethics policy? Why or why not? Next, research the code of ethics for a company of your choosing. You can usually find this info on the company’s webpage, or with a simple Google search of “company x” and “code of ethics.” (Be sure to locate info on a Company website first, before reading assessments of this code from a news or opinion source.) In your opinion, how do the rules of ethics adopted by the company you researched affect corporate governance practice?

Answer 1

Answer:

The role of ethics within corporate governance is to ensure that all employee are comply with the minimum ethical standards in the organization. This ethic as will help to develop the ethical sense in the corporate and it will derive ethical behavior which is useful for long term success and survival of the business.

Corporations establish codes of ethics so that these represent the ethical behavior expected to be followed by the employee in the organization and develops the ethical culture in the organization.

Yes, we do think that these codes are effective in corporate because these helps in managing and controlling the ethical culture in the corporate and based on these codes we can raise the disciplinary actions if these codes are not followed and complied in the organization.

Yes, there should be repercussions for failure to adhere to corporate ethics policy because the corporate ethical policy is prepared and released to ensure that ethical behavior and ethical culture is maintained in the organizations. Thus if these is not followed then it will have impacts on the ethical standards of the company and people will dilute the ethical behavior. Hence in order to maintain the ethical behavior, this ethical policy needs to be live and being in use at the plant to ensure compliance with ethical standards.

The code of ethics for a company of our choice are as below

Code of conduct for an organization : Code of conducts for an organization are as below

• Treatment with each other at work with dignity and respect
• Show integrity at organization
• Follow company values
• Follow Dos and Donts at the organization
• Comply with corporate rule and regulations
• Help and support other people at organization
• Do not misuse business assets / systems
• Follow IT and internet usage policies
• Comply with safety policies and procedures
• Maintain working standards in the organization
• Avoid expensive gifts and follow company gifts policy
• Comply with supplier treatment policy and do not involve in supplier bribery
• Comply with customer treatment policy and do not involve in customer bribery
• Do not miss-use/ miss-behave company assets for personal commercial use.

In our opinion, the rules of ethics adopted by the company we researched affect corporate governance practice significantly and these need to be complied so that corporate ethical culture and behavior is ensured. This will have severe impacts on the business if not followed and employee will disturb the ethical environment of the company and will not deliver the business results expected.