We set high standards for our people at all levels and strive to consistently meet them. The General Counsel will assist us in determining what steps are appropriate. We will never deliberately mislead.
But I also think that we have some of the most ethical businesses and institutions in the world. First of all, there is usually fair competition in the market and businesses are required to treat their employees and customers fairly. If a business is not following ethics, I think that the consumers give the best response by simply not purchasing their products.
No business would want to lose customers, so it's in everyone's best interest to do things fairly. For example, inaccurate advertisement and labeling of products are current issues. Many ads are misleading or outright give the wrong information about a product.
But businesses get away with it because some of it is not regulated. People can take a business to court but most people don't do that unless the false advertisement caused them harm of some kind. I think that some businesses follow only some aspects of ethics policy. Post your comments Post Anonymously Please enter the code: One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days.
Thank you for helping to improve wiseGEEK! View slideshow of images above. Watch the Did-You-Know slideshow. Wallace Last Modified Date: Benjamin Franklin and Napoleon were among the opponents defeated by a chess-playing machine known as "The Turk.
This Day in History. China became the fifth country in the world to successfully detonate a nuclear bomb. Ethical policies are guidelines for all employees of a company to do the right thing and behave at high standards at all times. Good ethical policies create a good culture based on trust and transparency. They promote moral conduct, and they benefit customers as well, as happy employees develop happy customers who keep coming back.
A firm's ethical policy should be in writing. Many firms post their code of ethics online so that everybody knows that they have standards of conduct and it is important to them. Policies should be written in unambiguous form, using good grammar and spelling and with no abbreviations or obscure words.
Policies need to be clear and easy to read and follow. Based on policies, procedures are created. Polices are general, while procedures are more specific. For example, a policy could be to follow all laws and regulations regarding payroll, and a procedure related to this policy could be for payroll information to be transmitted to the payroll processor at a predetermined day and time every week.
Ethics came to focus because of the Sarbanes Oxley Act of created after the Enron financial scandal. The act's goal was to bring businesses to a higher standard of conduct. This section requires senior management to have standards of conduct based on ethics and honestly.
Small businesses can make themselves look professional and attractive to investors and bankers by becoming compliant with this act and setting up official ethical policies for executives and the rest of the company.
Sheila Shanker is a certified public accountant based in California. She writes online courses for professionals seeking CPE hours and has also published the book "Guide to Non-profits: All of our associates and directors are required to read and understand the Code and follow its precepts in the workplace and larger community. Our associates, bottling partners, suppliers, customers and consumers can ask questions about our Code and other ethics and compliance issues, or report potential violations, through EthicsLine, a global Web and telephone information and reporting service.
Telephone calls are toll-free, and EthicsLine is available 24 hours a day, seven days a week, with translators available. More information about our approach to and administration of ethical business conduct for employees, suppliers, partners, and non-employee directors is detailed in our Ethical Business Conduct page on Journey.
We participate in public policy dialogues around the world, particularly in the United States. Our aim is to use our resources responsibly to advance public policy that supports our industry and business priorities, our more than , system associates, our shareowners and the communities we serve. The Public and Diversity Review Committee of our Board of Directors reviews our advocacy efforts, including political contributions.
Ethical policies are guidelines for all employees of a company to do the right thing and behave at high standards at all times. Good ethical policies create a good culture based on trust and transparency. McCormick / Company / Responsibility / corporate governance / business ethics policy Our guide to ethical decision-making The company’s Business Ethics Policy, embodied in the following standards, is a guide to ethical decision-making. Publish the business ethics policies and procedures to let both internal and external business associates know what the organization stands for and what it actually does to prove those values.