Design an ethics program Essay Example | Topics and Well Written Essays - 2500 words

Design an ethics class - Essay ExampleThere are many forms of business ethics such(prenominal) as the doctrine of the business. By this we mean that if the sole purpose of the firm is to maximize the wealth of its shareholders then they will non consider the interest of anyone else. so there is the concept of corporate social responsibility which considers the rights of company and the golf-club as a whole. Then there are honourable issues pertaining to the intra industry competition, corporate governance and the injure of the ethics for ones own benefits. In order to overcome such ethical issues companies focus more these old age towards the formation of their ethical program in the organization. They are diverted towards promoting non social values by addressing such issues on their company websites under headings such as social responsibility charters and the codes of social conduct and so on. There are mainly three ways in which the company locoweed film this ethical pro gram.One such business is ABC manufacturer of cereals offering products for children and family. The company also sells frozen waffles and pancakes. It is genuinely important for them to generate an ethics program as over the years it has been seen that businesses and governments pitch to confront public, governmental and legal reactions in cases of misconduct. Compliance with the companys policies, regulations and procedures is an effective tool for the smooth functioning of the organization as rise as its reputation of the business. Customers also perceive you positively. Successful organizations particularly lay special emphasis on it due to its benefits. It reduces widespread risk. It is sign of good corporate governance it will facilitate the company in achieving its goals and long term prosperity. It will promote the values of the organization and help it in maintain its ethical health (Fraedrich & Farrell, 2008-09).There are mainly three ways in which ABC can make this et hical program. ABC can form specific rules and guidelines in order to regulate their standards for example a written code of conduct or it can form a statement which comprises of the missions and values of the business. Then there are some firms that apply corporate philosophy such as Hewlett Packard did, they defined it as HPs way of doing business. Like Hewlett many business organizations use this approach. Research has shown that there are a helping of benefits of such a program such as the prevention of misconduct, this will save the monetary losings and also gain customer trust. The business will be adaptive to organizational change. By implementing the rules they can come up with various other ways of mergers, acquisitions and adapting new technology. Prevent them from getting fines of billions of dollars and penalties which can be very costly. It will help boost the relationship with the stakeholders. Stakeholders are all the groups related to the business that have some for m of interest in the business. The company will be able to get outdoor(a) with the corporate scandals if they have a defined compliance and ethics program. Moreover external auditors go through and through the compliance culture of the company while performing the audit of the company. They have their own