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Implementation of Corporate Code & Corporate Moral Excellence
The document discusses the importance of implementing a corporate code of ethics in the context of globalization and economic developments. It covers various codes of conduct, such as the Sullivan Principles and OECD guidelines, and emphasizes the benefits of having ethical practices in business to prevent legal issues and foster loyalty. Additionally, it highlights the significance of corporate moral excellence and aligning business strategies with ethical values.
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Implementation of Corporate Code & Corporate Moral Excellence
- 1. Ethics PREPARED BY: DZUWAN BINDESA 62288112050 MUHAMMAD RAHIMI BIN RAZALI 62288112130 MUHAMMAD ARIFIN BIN IDRUS 62288112335 NURUL ASHIKIN BINTI A. RAHIM 62288212161 NUR SA’ADAH BINTI MOHD NAEIM 62288212218 NURUL DINA HUWAIDA BINTI ABD HAMID 62288212239
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- 5. Introduction The processof globalisation has come with fundamental challenge for the effective and legitimate of the Trans boundary affairs. On the national level, economic developments in the 1980s seemingly have diminished the role of the state as the guardian of the public commons. In order to avoid being subject to the law of the jungle, capitalism requires the establishment of certain rules of the game.
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- 7. Code of illustration Sullivan Principles - They were introduced in 1977 by Reverend Leon Sullivan, a board member of General Motors to remedy social and economic injustices within the international business community with hopes that corporations would use their influence and channel their resources towards changing the system from within UN Draft Code on Transnational Corporations - On the international stage, the United Nations, or its specialized agencies, has been a principal actor in the creation of codes of conduct.
- 8. ILO TripartiteDeclaration - A prime role in promoting good social business practice with regard to labour issues is played by the International Labour Organization (ILO). The ILO has undertaken extensive standard setting, primarily in the form of binding conventions. OECD Guidelines for MNEs - Early in 1976 it became involved in the development of a code of conduct for TNCs, that is to say, with the adoption of a declaration on international investment and multinational enterprises (MNEs), which contained a set of guidelines for MNEs
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- 10. Practices to complementcode of conduct. Review sample codes of ethics that companies in a similar business use. Review other documents related to your business, including the firm's mission statement and any specific policies new hires receive as part of their orientation. Think about the ethical dilemmas that face not only your company, but also its competitors. Solicit input from employees when you create the code of ethics.
- 11. Address potentialworkplace issues, such as office romances and nepotism, in your code of ethics. Assign an individual in your company to be responsible for compiling the code of ethics. Ask your attorney to review the proposed code of ethics before putting it in force.
- 12. Advantages and ofcode of conduct Prevent legal and regulatory violations. Foster greater employee loyalty and retention. Encourage greater customer loyalty and retention. Build stronger relationships with suppliers and other business partners. Strengthen trust and respect of other stakeholders, such as local communities, regulators, NGOs, even from competitors. Build a stronger reputation for integrity by helping the company to do “what it says, it will do”.
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- 15. Introduction Moral characteror character is an evaluation of a particular individual's durable moral qualities. The concept of character can imply a variety of attributes including the existence or lack of virtues such as integrity, courage, fortitude, honesty, and loyalty, or of good behaviours or habits. Authors, Dealmaker and Kennedy (2000), have rightly pointed out that values are the bedrock of any corporate culture.
- 16. Components of corporatemoral excellent The basic values, attitudes and beliefs The organizational goals, policies, structure and strategies shaped by the basic values, attitudes, and belief. The organizational way of doing things.
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- 18. Issues in managementto achieve corporate moral excellence Aligning business strategy with human resource and development strategy Knowledge management and creating learning organization. Competence mapping and skill development through assessment centres. Developing moral excellence through ethics audit; and creating a value-based culture. Reorganization of work through job enlargement and enrichment. Development of mutual trust and synergy among work teams
- 19. Managing changethrough people. Restructuring and bringing about transformation in the organization to add value to the business. Bringing about rationalization of workforce through internal transfer and resorting to employee reduction, though not as a first choice. Holding opinion surveys to get a feel of the perception of employees and applying id-course correction, if necessary.
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- 21. Pancsheel model Psychologicalpreparedness to accept a moralistic approach to corporate excellence. Need for ethics audit. Need for publicly stated expectation about the employee behaviour Need for an organizational structure, and to support the ethical behaviour, ethics committees should be created. Need for the ethical behaviour to be supported by the management through a reward system.
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