Research Paper on "Ethics Code"

Research Paper 10 pages (3076 words) Sources: 7

[EXCERPT] . . . .

Thus, it is very important to devise a code of ethics that aligns with the organizational culture or change the culture to incorporate ethical practices. It is crucial, because the organizational culture influences the behavior and if ethical principles are not a part of culture then it will be very difficult to completely follow the principles underlined in this document. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

Individual Personality Traits: Personality and character of the employees of the organization are also a powerful force in implementation of ethical principles and guidelines. The individuals personal traits are thus of crucial importance to the organization. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013; Crfonline.org, 2015)

2.5. Other Important Principles

Along with the core values and principles identified in section 2.4 of the code, the organization and all the connected persons will also comply with the following ethical considerations in its / their day-to-day dealings:

Conflict of Interest: The organization will define a complete procedure for identifying and resolving the conflict of interest. For the matter a committee will be established by the Board. The sole objective of the committee is to devise methods and policy to identify and resolve conflicts of interest on time. Moreover, the management and all other staff members are responsible to report any incidence of conflict of interest immediately the responsible committee.(Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

Governance: Leadership and good governance are vital to effective implementation and continuous monitoring of the principles set out in the code. The board of directors of the organization are the highest authority for the purpose of this code and they will ensure its compliance and monitor the performance. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

Confidentiality: All the connected and concerned individuals employed in the organization are expected to should take all necessary steps to protect the data and confidential information of the organizations or the organization's stakeholders, which is in the custody of the organization and connected persons.(Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

Internal controls: The Board will assign responsible individuals the task of designing effective internal controls and testing them so as to ensure that all the dealings of the organization and its connected persons are conducted as per the ethical considerations.(Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

2.6. Training and Communication Plan

This is the responsibility of the board to nominate three members to form a committee responsible for the training of all the employees, staff members and other connected people about this code of ethics. For that matter the committee will devise a proper formal training program that will, among other things, educate all the relevant individuals with the requirements of this code. The trainings will also aim at developing a sense of ethics and morality in them. The committee will report monthly to the board and list down the percentage of trained staff. Moreover, the Board will, immediately after approval, circulate this code of ethics to all the relevant individuals. Effective communication of all the changes in the code and proper trainings of the staff are crucial for the implementation of ethical considerations in the organization's dealings. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

2.7. Implementation Plan

Immediately after the approval of the code by the Board, the Board will release an implementation plan and timeline of the code and share it with all the relevant individuals. Among other things the plan will include that the core principles and consideration of the code are to be implemented and practiced immediately. However, the Board may define timelines for the formation of committees required by the code and setting their core responsibilities. Moreover, the employees will be regularly tested, either directly or indirectly, about their knowledge and understanding of the code. Any person who finds any difficulty in comprehending the meaning behind any identified principle can contact the board or any committee nominated by the board in this matter. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

2.8. Plan for the Role of Leadership

As defined earlier, the overall responsibility for implementation, monitoring and control of the code is of the board. However, the board will delegate various committees to carry out the functions and responsibilities identified in the code. For that matter the committees will have effective and capable representatives from various departments that the board thinks necessary. The board will nominate the following committees necessarily:

Conflict of interest resolution committee,

Training and development committee,

Implementation, monitoring and control committee

As indicated by the names the committees will have clear roles and responsibilities. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

Another crucial role played by the leaders and manager is guiding and setting footsteps for others to follow. Management will ensure that they are the first to comply with nay requirement of the code and will make a path (clear and fair) for others to follow. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013)

2.9. Corporate Social Issues

Corporate social responsibility is one of the core values of the organization's code of ethics. The organization will play a healthy role in eradicating the social and societal issues. Be it gender discrimination, unemployment, low literacy rate or any other issue, the organization will play its part in removing those. The organization will be an equal opportunity employer. Moreover, active investments and diversification of business will generate further employment in the industry. The organization will also play an active role in improving the general society conditions and benefitting the community as a whole.(Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013; Deloitte & Touche USA LLP, 2005.)

2.10. Recent Laws and Regulations Impacting the Organization

The code has been designed in such a manner that it considers all the relevant laws and regulations that are applicable to the organization. Moreover the implementation, control and monitoring committee formed for the purpose will keep a track of all the new laws and regulations and will take effective measure to incorporate new requirements in the code. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013; Deloitte & Touche USA LLP, 2005.) The most recent laws and regulations are as follows:

Variety of federal antitrust and consumer protection laws issued by the Federal Trade Commission,

The Sarbanes-Oxley Act,

NYSE and NASDAQ Listing Requirements,

Federal Acquisition Regulation,

Equal Pay Act of 1963,

Age Discrimination in Employment Act of 1967,

Occupational Safety and Health Act 1967

Civil Rights Act. Etc.(Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013; Crfonline.org, 2015)

2.11. Monitoring and Enforcement of an Ethics Auditing

After successfully implementing the code of ethics and properly training the relevant and concerned employees, the implementation, control and monitoring committee will be responsible to monitor the controls assigned and the change in behavior of individuals in this regard. The committee will devise an audit plan to audit the ethical behaviors and practices and report the Board on the deficiencies identified in the ethical structure of the organization. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013; Crfonline.org, 2015)

2.12. Ethical Considerations for Working Internationally

For the organization to operate ethically internationally, various factors need to be considered and adapted. The most important factor for the management is to understand the international working conditions, societyand culture, legal and regulatory requirements. Moreover, the organization also needs to have an understanding of the major / principal religion practiced in that locality.(Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013; Crfonline.org, 2015)

It is thus crucial for the management to do necessary research before entering into any new business segment, especially I a different location. The research will consider, among other things, the general ethical considerations preached and conducted by the existing businesses in that area / region / locality. This will give a general insight of what to expect and what not. (Brenkert & Beauchamp, 2010; O'Sullivan, Smith & Esposito, 2012; Staff Members of the Adventure Travel Trade Association, 2013; Crfonline.org, 2015)

3. Conclusion

Code of ethics is an important document to ensure ethical behavior in an organization. Ethics, in current times have become an important part for all the… READ MORE

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