What would you recommend to the management of a firm going global on the issue of establishing a code of conduct? What factors would you consider important elements of such a code?
Yes, I will recommend a corporate ethics code of conduct for effective management of the firm going global.
Business ethics is the branch of ethics that examines ethical rules and principles within a commercial context; the various moral or ethical problems that can arise in a business setting; and any special duties or obligations that apply to persons who are engaged in commerce. (Indiainfoline)
Important Factors for code of conduct are:
? Community relations
? Employee relations
? Share holders
? Customer relations
? Minorities and Women
The global firm can apply business ethics by having good corporate governance.
Corporate Governance is all about promoting Corporate Fairness, Transparency and Accountability. Self-regulation for the industry is an important step towards becoming more efficient and socially responsible. All parties to corporate governance have an interest, whether direct or indirect, in the effective performance of the organization. Directors, workers and management receive salaries, benefits and reputation; whilst shareholders receive capital return. Customers receive goods and services; suppliers receive compensation for their goods or services. In return these individuals provide value in the form of natural, human, social and other forms of capital. Hence it is clearly good that businesses should seek to minimize their negative social and environmental impact resulting from their economic activity.
Thus corporate governance is required to promote fairness, transparency, discipline and self regulation. Good governance is having a significant impact and benefit because traditionally, a company's worth was based on the tangible assets ...
Change management is discussed.