Recent corporate scandals have emphasized that an exclusive focus on financial performance, with the exception of the broad stakeholder criteria for performance, can be harmful to the total of the value of the firm. Among the ways to increase the attention of leaders to create stakeholder value is to develop and uphold effective executive code of ethics. Such "Ethics obligation" (ECC)-which includes the characteristics of the code of conduct and senior management, covers a wide range of organizational stakeholders to give meaning to them, thereby increasing their psychological and / or financial obligations of the organization while strengthening corporate culture of the firm. This paper develops a model highlighting the various benefits of ECC with key stakeholders and the subsequent impact on the culture of the organization and its competitiveness. Specifically, we drew attention to the need to include community leaders and key employees in the process of developing a code of ethics, the importance of moving away from a purely legal document that inspires stakeholders the importance of linking ethics policies and management approaches that can improve the ethical code of ethics-related dialogue. When designed and implemented correctly, ECC can be an important source of competitive advantage by using the effect it has on the relationship between the firm and key the parties concerned. "Hide
by K. Matthew Gilley, Chris Robertson, Tim Mazur Source: Business Horizons 7 pages. Publication Date: January 15, 2010. Prod. #: BH366-PDF-ENG
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