This morning, I read about a company using on-line auctions to defraud customers. 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.
If top executives and top executive management say one thing but do another, the message of ethical behavior gets very confusing. That is to recognize that continued public trust is based on the commitment to high ethical standards within the company and that speaks to the equally high standards of the individuals within the company.
If the business earns social sanction of the society, where it exists then it would be able to survive, develop and excel in activities, because only through earning social sanction the business can get loyal customers. Individual Ethics is more concerned with Moral reasoning, wherein actions are judged with reference to moral standards.
Within every business there are marketing ethics to be considered as well. New Directions in Corporate Social Responsibility,â€ Norman Bowie (Business Horizons July-August 1991). The subject matter of ethics is concerned with establishing linkages between individual good and social good.
This code of ethics consists of the preamble, followed by the principles of ethics that reflect compliance and responsibility of employees regarding the code of ethics, and practical guidelines that set the standard for ethical decision-making. The CEO should have strong commitment towards ethics and ethical conduct and should give a constant leadership in renewing the values of an organisation.