Ethical Summary
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- Date Submitted: 09/16/2016 08:08 AM
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INDIVIDUAL ARTICLE SUMMARY
How effective are ethics codes and programs?
Is there any question that ethics and integrity are important in business? Well the US government in 2012 for a time blocked BP PLC from entering into contracts after the 2010 spill in the Gulf of Mexico. Also in 2012 in the southern district of New York a federal court allowed a shareholder lawsuit against Goldman Sachs & Company. To these companies integrity was an issue. With corporate scandals and misconducts still making headlines. These companies and more needed ethics and procedures on paper.
To comply with the Federal Sentencing Guidelines for Organization that was established in 1991. Businesses are developing codes of ethics and compliance programs. Even with these written codes of ethics business are still breaking their own codes. Large companies that are investigated by the Department of Justice (DOJ) rarely end up in court. A list of requirements that must be included to compliant with FSGO. There are other sources the also set some guidelines. They offer understanding for more procedures for the implementation of these programs.
To be listed on the NYSE and Nasdaq a company is required to have a code of ethic on their web site that any person can access. Both of these offer guidance with this.
These codes of ethics and programs of compliance, come in many different sizes. Boing has a “37 page Ethical Business Conduct Guidelines.” It includes a check list for ethical problems and questions.
Now we can ask “Do codes and enforcement programs work?” in the article the author say “yes—as long as the program is not just a check-the-box exercise.”
Works Cited
Hopkins, Sheryl L. “How Effective Are Ethics Codes And Programs?.” Financial Executive 29.2 (2013): 42—45. Business Source Elite. Web. 1 Mar. 2016
How effective are ethics codes and programs?
Is there any question that ethics and integrity are important in business? Well the US government in 2012 for a time blocked BP PLC from entering into contracts after the 2010 spill in the Gulf of Mexico. Also in 2012 in the southern district of New York a federal court allowed a shareholder lawsuit against Goldman Sachs & Company. To these companies integrity was an issue. With corporate scandals and misconducts still making headlines. These companies and more needed ethics and procedures on paper.
To comply with the Federal Sentencing Guidelines for Organization that was established in 1991. Businesses are developing codes of ethics and compliance programs. Even with these written codes of ethics business are still breaking their own codes. Large companies that are investigated by the Department of Justice (DOJ) rarely end up in court. A list of requirements that must be included to compliant with FSGO. There are other sources the also set some guidelines. They offer understanding for more procedures for the implementation of these programs.
To be listed on the NYSE and Nasdaq a company is required to have a code of ethic on their web site that any person can access. Both of these offer guidance with this.
These codes of ethics and programs of compliance, come in many different sizes. Boing has a “37 page Ethical Business Conduct Guidelines.” It includes a check list for ethical problems and questions.
Now we can ask “Do codes and enforcement programs work?” in the article the author say “yes—as long as the program is not just a check-the-box exercise.”
Works Cited
Hopkins, Sheryl L. “How Effective Are Ethics Codes And Programs?.” Financial Executive 29.2 (2013): 42—45. Business Source Elite. Web. 1 Mar. 2016