Comprising of all the dilemmas the board of directors, managers and executives confront, one could argue that unethical corporate activity is among the very critical in terms of its possible negative impact and also one of the hardest to properly address. This informative article argues that three key elements must exist if unethical or illegal action within and also on behalf of the organization must be minimized through sustaining and developing an ethical corporate culture.
The three elements comprise (1) the very existence of a section of core ethical values inculcated throughout the entity in its policies, procedures, and practices; (2) institution of formal ethics application, also comprise of code of ethics, the ethical training, an ethics hotline, and an ethics officer, and 3) the constant presence of ethical leadership-that's, an appropriate 'tone in the top' as reflected by the board of directors, senior executives, and supervisors.
While each of these three components is distinct, additionally they overlap, relate to, and strengthen each other. This informative article discusses each of the three essential components necessary to develop and maintain an ethical corporate culture.
PUBLICATION DATE: January 15, 2013 PRODUCT #: BH506-PDF-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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