Good Governance and Social Resposibility

Employee code of conduct

A business code of ethics is a framework of policies founded on laws and values that a company requires all employees to follow to.

Professional appearance policies

A dress code or dress policy can be also be made as a requirement.

Moral Framing

A frame of reference, or point of view, refers to the way people look at a given situation.

Confidentiality and privacy policies

A lot of companies these days have been targets or has become victims of hackers who steal customers' personal information or proprietary data.

Upbringing

A person's upbringing also defines his ethical behavior.

Value-based Code of Ethics

Addresses a company's core value system. It may shape standards of accountable conduct as they communicate to the larger public good and the environment.

Legal Issues

Besides expressing to all employees that they must follow the law, this needs to be documented.

Caring and consideration policies

Businesses must not allow their consumers to feel that they are just after profit.

Obeying the law

Complying and abiding the law is a mandatory ethical practice.

Safety and Health

Ensures that employers provide safe and sanitary work environments through frequent inspections and a grading scale. In accordance with legal provisions, employers must provide hazard-free work places, avoiding employees physical harm and death, through incorporating these in procedures manual.

Social Norms

Ethical behavior could also be defined through local customs and traditions in a certain culture. Cultures differs from one country to another and so are ethical practices.

Family Influences

Everything starts from the family, so they say. Children form their ethical standards based from their perception of their parent's behavior.

Bureaucracy

In an organization that has a bureaucratic set up, most employees are likely to follow rules instead of reflecting about the ethics of decisions created.

Comprehensive

It covers all significant details that may influence the daily lives of employees and answers common questions that arise.

Visual appealing

It follows a style that is clean and reflective of the organization.

Supported by leadership

It has been recognized and ratified by the company's senior management teaml

Efficiency

It is about the belief that moral talk could cloud issues which leads to a more time-consuming decision-making.

Accessible

It is available to all employees, current investors and potential investors.

Compliance-Based Code of Ethics

It is based on specific rules and distinct consequences instead of individual observing of personal behavior. Increases regulation and punishes offenders by giving explicit example of what is expected and articulates to employees what behavior is standard and what is not.

Violation of the Code of Ethics

It is important to address also in the codes of ethics the action to take in cases of violation.

Written for the Reader .

It is simple understand and does not contain any technical or legal terminology.

Social Consensus

It is the degree that members of a society approve that an act is good or bad and the possibility of effect is the increase and decrease of moral intensity based on how likely people consider the results are.

Concentration of effect

It is to whether the effect is focused on a few people or may affect a lot people in a small extent.

Laws

Laws and a person abiding by them, are ethically influential. Many people do not break the law because of fear of being prosecuted and punished.

Advertising

Laws pertaining to marketing and advertising set in motion by the regulatory authority exist to protect consumers and keep companies honest about their products.

Life Experience

Life experiences of people help them evaluate whether their behaviors and attitudes are ethically correct, incorrect or acceptable.

Image of power and effectiveness

Managers consider that their image will be hurt if they would be seen as someone idealistic or making decisions for ethical reasons.

Religious beliefs

Most faith believes in life beyond death. The theme of judgment in the afterlife is a shared belief among most religions.

Compliance and regulations

Most industries follow certain legal requirements.

Peer Influences

Peer are those co-workers who are always around during the conduct of operations in the workplace.

Promoting green business practices

Promoting green and being environment friendly is a sound business practice.

Privacy

Sensitive information is usually collected from employees and customers during hiring and business transaction and privacy laws prevent businesses from disclosing information freely.

Authority

Subordinates are likely just to follow instructions from their superiors. On the other hand, middle managers obey orders from their seniors.

Ethical Responsibility

That is to do what is right even when business is not compelled to do so by law.

Value-based components

The code of ethics normally embraces the six universal moral values that companies expect their employees.

Organizational Cultures

The norms of the group often define the standard or satisfactory behavior in an organization. this could mean that even an unethical behavior may be considered ethical if the group is amenable to it.

Magnitude of Consequences

This is the sum of the harm or benefits that could be impacted as the consequence of a given action.

Proximity

This refers to the emotional intimacy the decision maker feels to those disturbed by the decision.

Harmony

This the belief that moral talk would encourage conflict and retaliation.

Work roles

Usually consists of a complete set of expectations of what to value, the manner of relating to other people and he approach of displaying behavior.

Conscious Consideration of the interests of other stakeholders

When a company meets the objective of increasing the shareholders value it have a greater internally generated resources improving its commitment in meeting its environmental, community and social obligations. It can pay taxes well; reward, train and retain key staff, and enhance employee satisfaction.

Social Responsibility

a term that is used to explain the contract, either written or verbal, that a corporation is required to accomplish in its business environment.

Morals

are another individuals characteristic that can affect an individuals ethics. Morals are the rules people develop as a result of cultural norms and values and are, traditionally, what employees learn from their childhood.

Values

are individual's judgment or standard of behavior. Some people's standard of behavior will feel that lying for a business financial win is not unethical.

Improvement of Shareholders Value

by making pre-commitment to build better relations with primary stakeholders like employees, customers, suppliers and community- Better relations will lead to an increase in shareholders wealth and expand their business and in turn become source of competitive advantage.

Prudence

define within the Code of Governance as "care, caution and good judgement as well as wisdom in looking ahead". It is the management committee which is in the corporate setting , the board of directors , who will be the body responsible in safeguarding the interest of the organization through good planning and management of finance and other resources of the organization

Good Governance

defined as the complete set of principles or rules that have to be developed with the passage of time for meeting new challenges in various areas such as quality, commerce, reputation, risk, probity, accountability and finance

Governance

defined as the process of strategic decision making in which careful analysis of available options is carried out and ensured that the decision is implemented appropriately (Kaufmann, Kray & Mastruzzi, 2010).

Temporal Immediacy

his is the distance between the time and action happens and the start of consequences or the soonest the results of any effect are likely to take place.

Ethics

is about directing human conduct using the standards of right and wrong that tells people what must be done based on rights, obligations, benefits to society, fairness or specific virtues.

Corporate Governance

is the process and structure used to direct and manage the business and affairs of the company towards enhancing business prosperity and corporate accountability with the ultimate objective of realising long-term shareholders value, whilst taking into account the interest of other stakeholders.

Accountability

is the recognition and assumption of responsibility for the decisions, actions, policies, administration, governance and implementation of programs and plans of the corporation and people involved , including the obligation to report, explain and be answerable for its resulting consequence.

Philanthropic Responsibility/Discretionary Responsibility

it is best described by the resources contributed by corporations toward social, educational, recreational and/or cultural purposes. Be a good corporate citizen.

Reward

putting into practice ethical principles and standards may possibly be repeated and become contagious throughout the organization when appropriately recognized and rewarded.

Environmental

the carbon footprint of businesses on the environment is regulated by the Department of environment and natural resources. This done through frequent inspections and environmental audit by the Environment Management Bureau

Moral development

the process wherein children are able to develop their right attitudes and behaviors on how to treat other people in the society founded on social and culture norms, rules and laws.

Employment and labor

these laws pertains to minimum wages, benefits, safety and health compliance, working conditions, equal employment opportunity, and privacy regulations cover the largest area of subjects of all business regulations.

Economic responsibility

to be profitable

Legal responsibility

to obey the laws set forth by society.

Transparency

vital with respect to corporate governance it maintains investors, consumers and other stakeholders confidence. Failure in transparency issues could lead to many things-scaring of investors, being single out by the authorities, and many other uncomfortable scenarios which no company wants to be in.