Ethical Decision Making is vital to the organization due to the following reasons…
- Ethics and Code of Business conduct go hand in hand and it provides the guidelines related to what employees must do.
- It covers inputs viz., all employees have a responsibility to hold themselves and others to a high level of conduct.
- It lays Policies and Guidelines related to self-positioning and reporting in the organization, how to deal with confidential and anonymous reporting, Treatment-related to reports and complaints, Retaliation related issues, Disciplinary process etc.,
- Develop the code of Ethics applicable to the company: Any organizations develop their code of Business Conduct and Ethics guidelines based on one or many of the following. General Ethic’s guidelines cover the following…
The critical steps involved in Ethical decision-making are as mentioned below:
Code of Business Conduct and Ethics Policies & Guidelines:
- Organizational Commitment – The CEO of the organization provides the commitment that all employees have towards the organization. This segment widely covers the Integrity and Trust Principles.
- Purpose & Values – Clarifying the Purpose of organizations existence which is likely to cover tangible and intangible components viz., Innovation and Performance principles, Trust and Collaboration principles respectively.
- To whom the code applies to
- What Employees must do – do’s & don’ts
- What Leaders of the organization must do
Using Assets and Information Properly:
- Appropriate usage of Organization tangible resources
- Proper utilization of Computers and Communication devices
- Taking care of Confidential data and Information
- Maintaining Data Privacy
- Sustaining IP – Intellectual Property Rights
- Security Law and Insider Trading
- Handling Media and Public Inquiries
Promoting Respect, Safety, and Security in the Workplace:
- Equal Employment Opportunities
- Preventing Discrimination and Harassment
- Employee Health, Safety, Security, and Environment
- Prevention of Drugs and Alcohol
Working with Customers and Other Third Parties:
- Fair Competition, Antitrust and Competitive Intelligence among employees
- Policy around giving or receiving Payments, Benefits or Gifts to customers, suppliers, vendors etc.,
- Contractual Authorization and Process
- Political and Charitable Conduct and Contributions
Recognizing and Avoiding Conflicts:
- Conflicts of Interest
- Working for Other Companies and on Board