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    Code of Ethics Benefits

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    Bon Jovi
    An ethics code can benefit a company in several ways: it can guide employees when ethical decisions are unclear, help communicate and reinforce a company's culture and values, and minimize inconsistent management standards. It can also help a company comply with regulations, build trust with the public, enhance employee morale and loyalty, and promote social change. Overall, a well-administered ethics code supports ethical behavior and can benefit a company and its stakeholders.

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    Code of Ethics Benefits

    Uploaded by

    Bon Jovi
    19 views2 pages
    An ethics code can benefit a company in several ways: it can guide employees when ethical decisions are unclear, help communicate and reinforce a company's culture and values, and minimize inconsistent management standards. It can also help a company comply with regulations, build trust with the public, enhance employee morale and loyalty, and promote social change. Overall, a well-administered ethics code supports ethical behavior and can benefit a company and its stakeholders.

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    Code of Ethics

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    An ethics code can benefit a company in several ways: it can guide employees when ethical decisions are unclear, help communicate and reinforce a company's culture and values, and minimize inconsistent management standards. It can also help a company comply with regulations, build trust with the public, enhance employee morale and loyalty, and promote social change. Overall, a well-administered ethics code supports ethical behavior and can benefit a company and its stakeholders.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views2 pages

    Code of Ethics Benefits

    Uploaded by

    Bon Jovi
    An ethics code can benefit a company in several ways: it can guide employees when ethical decisions are unclear, help communicate and reinforce a company's culture and values, and minimize inconsistent management standards. It can also help a company comply with regulations, build trust with the public, enhance employee morale and loyalty, and promote social change. Overall, a well-administered ethics code supports ethical behavior and can benefit a company and its stakeholders.

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    Ten Benefits of Having an Ethics Code

    Companies should have ethics codes to promote ethical behavior – not to enhance
    productivity, profits or public relations. Still, a sound, well-administered code can
    benefit a company and its stakeholders in a variety of ways. It can:

    1. Guide employees in situations where the ethical course of action is not


    immediately obvious.

    2. Help the company reinforce – and acquaint new employees with – its culture
    and values. A code can help create a climate of integrity and excellence.

    3. Help the company communicate its expectations to the staff to suppliers,


    vendors and customers. Also, by soliciting feedback and questions, a
    company can use the code to encourage frequent, open and honest
    communication among employees.

    4. Minimize subjective and inconsistent management standards. A code


    explicitly outlines the rights and responsibilities of staff members and helps
    guard against capricious and preferential treatment of employees.

    5. Help a company remain in compliance with complex government


    regulations. The landmark Sarbanes-Oxley Act of 2002 requires public
    companies to have an ethics code for senior financial officers.

    6. Build public trust and enhance business reputations. Also, a code helps
    demonstrate the company’s values to socially responsible investors.

    7. Offer protection in preempting or defending against lawsuits.

    8. Enhance morale, employee pride, loyalty and the recruiting of outstanding


    employees.

    9. Help promote constructive social change by raising awareness of the


    community’s needs and encouraging employees and other stakeholders to
    help.
    10.Promote market efficiency – especially in areas where laws are weak or
    inefficient – by rewarding the best and most ethical producers of goods and
    services.

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