This morning, I read about a company using on-line auctions to defraud customers. This code of ethics establishes the ethical values and behavioral standards that must be preserved and developed by all POSCO Group employees by inheriting the foundation spirit of patriotism in steelmaking based on sacrifice and service while reflecting the new spirit of the times.
When employees know the true how and why behind organizational strategy, decision-making, and performance management, they generally feel more trust toward the management of their organization and thus can become more committed and engaged in their work.
In his new book Ethics and Excellence: Cooperation and Integrity in Business, University of Texas philosopher Robert C. Solomon writes that such theorizing isâ€¦utterly inaccessible to the people for whom business ethics is not merely a subject of study but is (or will be) a way of lifeâ€”students, executives, and corporations.â€ Unfortunately, academic insecurity is causing business ethicists to direct their work away from addressing the real needs of managers and toward satisfying the perceived rigors of academic science in their field.
A very positive affirmation that your ethics program is a success is when there is an embedded culture where people will make the right choices, even when those choices are difficult, inconvenient, or adverse to the short-term interests of the individual or company.
Rather, all stakeholders must be seen as equally important for the organization to avoid a narrow economic focus which may lead to lapses in ethical behavior which in the end, lead to severe economic and legal consequences for the organization and its stakeholders (p. 4).