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Ethics and Compliance Basics
Reinforcing ethical principles and educating company members about compliance with the law is an ongoing and important responsibility. A company is only as ethical and compliant as its directors, managers and employees. Training is necessary to encourage good behavior, set expectations, demonstrate the company's commitment and inform members of laws that are not common knowledge. Integrity and scruples not only keep us out of court and out of prison, but they are good for business. One study found that companies making "an explicit commitment to doing business ethically" have produced profit/turnover ratios at 18% higher than those without a similar commitment. Conversely, a bad reputation can ruin a business.

 

Business Ethics

In concept, business ethics is the applied ethics discipline that addresses the moral features of commercial activity. In practice, however, a dizzying array of projects is pursued under its rubric. Programs of legal compliance, empirical studies into the moral beliefs and attitudes of business people, a panoply of best-practices claims (in the name of their moral merit or their contribution to business success), arguments for (or against) mandatory worker participation in management, and attempts at applying traditional ethical theories, theories of justice, or theories of the state to firms or to the functional areas of business are all advanced as contributions to business ethics—even and especially in its academic literature.

 

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Business Ethics Conduct Policy Statements
It is widely agreed that every company needs to have a policy statement on legal and ethical conduct. The Organizational Sentencing Guidelines require that a company "must have taken steps to communicate effectively its standards and procedures to all employees and other agents, e.g., by requiring participation in training Courses or by disseminating publications that explain in a practical manner what is required." Thus, if a company hopes to qualify for more lenient treatment under the Guidelines in the event of employee or corporate misconduct, having, disseminating and enforcing a Code of Conduct is essential.

Online Class: Business Ethics 101
This business ethics course offers an introduction into the concept of values, morality, as well as cultural beliefs and upbringing in all areas of business, from consumer rights to corporate social responsibility. Decisions made by shift managers or corporate presidents may affect thousands of individuals or entire communities. Consumers today expect and demand integrity, honesty, and transparency in all levels of their environment. Understanding those expectations is the key to communicating core values and behavior not only to employees, but society in general.

 

Business Ethics

When business people speak about “business ethics” they usually mean one of three things: (1) avoid breaking the criminal law in one’s work-related activity; (2) avoid action that may result in civil law suits against the company; and (3) avoid actions that are bad for the company image. Businesses are especially concerned with these three things since they involve loss of money and company reputation. In theory, a business could address these three concerns by assigning corporate attorneys and public relations experts to escort employees on their daily activities. Anytime an employee might stray from the straight and narrow path of acceptable conduct, the experts would guide him back

 

 

Corporate Social Responsibility

Corporate Social Responsibility (CSR) refers to operating a business in a manner that accounts for the social and environmental impact created by the business. CSR means a commitment to developing policies that integrate responsible practices into daily business operations, and to reporting on progress made toward implementing these practices.

 

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