Ethics And Code Of Conduct In Corporate Governance
Try to imagine a public gathering where different people meet and share information among one and another and they educate themselves and express their opinion. There are different ways through which people may participate in the program. The way in which people talk meet interact and express has a procedure. This procedure is known as the code of conduct. The code of conduct should be such that people around appreciate the person talking and think about him. The code of conduct of one should that the people around think about the upbringing of that person. However the basic rule of code of conduct is that treat others the way to want them to treat you.
The example of code of conduct for a project is as follows:-
One should be reliable and punctual keeping the deadlines in mind. And never fail to keep promises of the project mates.
Knowledge should be shared and others should be asked for help when needed.
Ones should have a friendly attitude and have a smiling face.
Behavior should be as one wants from others.
Trust forms the basics of code of conduct. Team members should be able to trust him.
A set of written principals which every company wants its employs to follow is a code of ethics laid down by the company. The code of ethics laid down by the company has to be followed by its members like the owners, directors and the managers. These ethics should apply to the company’s goals, aims, strategies and business practices. Example of a code of ethics can be that that company will not accept the product of those manufactures which use child labor to produce their goods or the company will not take any steps that harm the environment. These are known as the code of conduct. The company must find different methods by which their employees will start to think ethically.
Tackling corporate governance is not easy but it a must. Corporate governance is tiresome work. It deals with the taking all regulations and factors into work so that the company can shape strong programs. These programs monitor and avert all possible risk factors. Corporate governance is very important when a company is growing. There are 5 foundational elements which form the basis of corporate governance.
• Code of ethics – these rules helps the company to outline the business practices. The companies are built and they are defined by the employees they constitute. Therefore it is necessary to hire employees who have the same ethical and moral value in them.
• Following the company’s goal with its governance policies- the job of corporate governance is a job of difficulty. They have to frame policies and plan ahead for the company so as to move the company towards its aims.
• Management strategy- corporate governance is in the protecting the interest of the companies stake holders and that these individuals have more say in important matters related to the company.
• Organizational power- the companies need to efficiently take care of the dealings, transaction and interactions. The aim of corporate governance is to develop transparent business policies.
• Reporting system- this system checks all fraud activities which can be used by the employees.
Having ones company with SEC registration as very essential. SEC stands for Security and Exchange Commission. Having the company registered for SEC registered helps the investors to get information related to stock and securities which are being offered for public sale. This information helps the investors to make decisions.
Mike is writing about Regulatory Compliance Software and Financial Regulatory Compliance available at www.mycomplianceoffice.com
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