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Developing an Effective Ethics Program

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C H A P T E R 8 Developing an Effective Ethics Program Chapter Objectives To understand the responsibility of the corporation to be a moral agent To understand why ... – PowerPoint PPT presentation

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Title: Developing an Effective Ethics Program


1
C H A P T E R 8
  • Developing an Effective Ethics Program

2
Chapter Objectives
  • To understand the responsibility of the
    corporation to be a moral agent
  • To understand why businesses need to develop
    ethics programs
  • To list the minimum requirements for an ethics
    program
  • To describe the role of codes of ethics in
    identifying key risk areas for the organization

3
Chapter Objectives (cont.)
  • To identify the keys to successful ethics
    training, including program types and goals
  • To examine the ways that ethical standards are
    monitored, audited, and enforced and to
    understand the need for continuous improvement

4
Chapter Outline
  • The Responsibility of the Corporation as a Moral
    Agent
  • The Need for Organizational Ethics Programs
  • An Effective Ethics Program
  • Codes of Conduct
  • Ethics Officers
  • Ethics Training and Communication
  • Systems to Monitor and Enforce Ethical Standards

5
Corporations as Moral Agents
  • Corporations are increasingly viewed as moral
    agents that are accountable for their conduct to
    stakeholders
  • Laws and regulations are necessary to provide
    formal structural restraints and guidance on
    ethical issues

6
The Need for Corporate Ethics Programs
  • Scandals in corporate America have reduced trust
    in businesses
  • Understanding the factors that influence ethical
    decision-making can help companies encourage
    ethical behavior
  • Employees are not legal experts and need guidance
  • Organizations should develop an organizational
    ethics program by establishing, communicating,
    and monitoring uniform ethical values and legal
    requirements

7
An Ethics Program Can Help Avoid Legal Problems
  • The FSGO encourage companies to assess key risks
    and create a program to address them
  • A program developed in the absence of misconduct
    will be more effective than one imposed as a
    reaction to scandal
  • The Sarbanes-Oxley Act of 2002 established new
    requirements for corporate governance to prevent
    fraudulent behavior in business

8
Corporate Codes of Ethics
  • Often contain six core values
  • Trustworthiness
  • Respect
  • Responsibility
  • Fairness
  • Caring
  • Citizenship

9
Ethics Officers
  • Ethics officers or committees are responsible for
    oversight of the ethics/compliance program
  • Assess the needs and risks that an ethics program
    must address
  • Develop, revise, and disseminate the code
  • Conduct training programs for employees
  • Develop effective communication
  • Establish audits and control systems
  • Review and modify the program to improve
    effectiveness

10
Ethics Training and Communication
  • Must start with a foundation, a code of ethics, a
    procedure for airing ethical concerns, and
    executive priorities on ethics

11
Systems to Monitor and Enforce Ethical Standards
  • An effective ethics program employs many
    resources to monitor ethical conduct and
    measure the
    programs effectiveness
  • Observing employees
  • Internal audits
  • Surveys
  • Reporting systems
  • Investigations
  • Independent audits
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