Realize the Importance of Business Ethics

In the present world, every organization requires a code of conduct or business ethics to have an identity of its own. A business code of conduct clearly defines organizational value system and the behavioral guidelines for the people who are associated with the organization.

Implementation of business code of ethics – establishing a set of core values and behavior for staff – boosts organization’s corporate governance efforts. It helps staff stay aware of the right course of action; hazards of following unethical behavior pattern; and the hierarchy for the flow of information.

Business ethics defines core values to maintain a harmony in the organization. Since business ethics represents the company’s stand towards corporate social responsibility, the reputation of the organization also depends on it.

Here are some ways that can help a CEO establish business ethics in his organization:

Prepare the Policy Document

The management should ensure that there is a detailed structure of the ethics program clearly mentioning the code of conduct for employees. The business ethics should include additional policies that address diversity, sexual harassment, workplace aggression, equal opportunity at all.

Design Implementation Strategies

The success of a program depends on implementation strategies. It is the responsibility of Human Resources (HR) department to ensure that code of conduct is mentioned in the appointment letters so that new joiners know the importance of business ethics.

It is a good practice to display the business ethics on notice boards, entrances or other preferred sites. HR should also conduct workshops, quizzes and training session to make sure that employees are aware of business ethics. Business ethical issues should be dealt strictly and serious action should be taken against the defaulters to set the example.

Training & Awareness

Communication is the most effective technique to implement the Code of Conduct successfully. There are number of ways to ensure that staff and external stakeholders are aware of business ethics and are following it.

A few are listed below:

•  Design and develop class room training material including PPT presentations, handbooks, teaching  manuals and illustrations for educating the employees on the detailed policies.

•   Take the help of questionnaires, ethical tests, and case studies to check if your staff cares about the     business ethics.

• Publish relevant cases of ethical dilemmas on the intranet

• Make sure the business ethics doc is available on intranet and every staff member has an access to it.

• Let your staff know how much you are serious about the business ethics by circulating the information if someone is terminated for misbehavior.

If you are looking for detailed guidance about drafting and implementation of business ethics for your enterprise, executive coaching can help you. CEO club offers executive business coaching on how to run your business operations smoothly. Apart from guiding you on business ethics, a CEO group provides you practical solutions for different business issues.