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Code of Ethics of Companies

Most companies have and enforce a code of ethics, because they want to conduct business with integrity and they want their employees to conform to that standard. Companies are responsible for the actions of their employees while at work, so if employees engage in illegal, immoral, or unethical activities, the companies are as liable for those activities as if the company owner himself participated in them. Furthermore, a company that fails to exhibit and maintain good ethical standards cannot obtain and retain the trust of its customers for very long. Companies work hard to develop that trust, and they cannot afford to allow employees to compromise it by engaging in unethical activities.

Having a published code of ethics gives the company a baseline from which to gauge employee behaviors and makes it easier to enforce the intangible area of ethics. With a code established, companies do not have to constantly assess employee behavior to determine whether it is ethical or not; they merely compare it with the code of ethics. Likewise, the code of ethics makes it easier for the employees to comply with the companyÆs standards, but the code spells out exactly what activities and behaviors are prohibited. The code of ethics gives everyone concerned a common language and a mutually understood requirement that makes ethics assessable, understandable, and enforceable.

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Code of Ethics of Companies. (1969, December 31). In LotsofEssays.com. Retrieved 06:18, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1712397.html