Corporate governance: making business ethics a priority ...

Corporate Governance: Making business ethics a priority

There is a growing need for ethics officers at C as guardians of ethics-compliance programs for the continuing stresses of doing business with gross negative impact felt by most employees and customers. Not too long, leaders in energy, Kenneth Lay (former CEO and Chairman of Enron Corporation) and Jeffrey Skilling (former President of Enron Corporation) have both been involved in a foul from the business conspiracy and insider trading in the securities fraud and receiving unauthorized bonuses. Dennis Kozlowski, Tyco International CEO, Bernie Ebbers and co-founder and CEO of WorldCom were found both guilty of conduct causing irreparable damage to their organizations and their customers. Bernie Madoff, the securities broker and investment adviser, pleaded guilty in March 2009 for the operation of the largest Ponzi scheme in history. Other corporate misconduct include companies hide the dangers to consumers of defective manufacturing processes, second guess the safety procedures, and assuming wildly inappropriate financial risk.

These and many other side, and the impact of these public manifestations of conduct ethically controversial, make it necessary for companies to make business ethics a prerogative in their organizations. The creation of executive positions to focus solely on ethics compliance has become increasingly necessary as also confirmed by a company for Human Resource Management (SHRM) survey of 400 HR professionals by nearly half (about 48 %) of organizations surveyed report that they now employ ethics officers. Also, employees, shareholders and the general public are demanding transparency and accountability of business leaders, a trend whose importance is underscored by recent business plan . These voices are pushing for stricter regulations and / or guarantees. Positively, HR managers are increasingly aware of the essence of ethics and compliance programs effective in their organizations. A work environment based on employees holding high ethical standards is the key to these programs. In addition, employee training and the creation of reporting structures identified solid business problems can be a useful path as well. Role

ethics officers in business management

Most companies

to ethics and compliance officers to provide exclusive of the ethics committee which can often be the CEO (about 44%) and corporate chief human resources (20%), according to recent survey by SHRM. Experts attribute the trend to a direct reporting relationship between the agent cgief ethics and CEO, head of HR or board at the will of the executive ?to be assured that ethics-in-chief and responsible Compliance has both access and independence necessary to perform his duties role. The relationship of the ethics officer with HR (the architect of a oganization that play a key role in the design of roles, rules and responsibilities of key positions are clearly interdependent. The ability of an ethics of report directly to Senior Management emphasizes the effectiveness of the hierarchical structure of the organizatiuon which is crucial in ensuring the company and its employees comply with codes of ethical conduct.

to industry benchmarking, to see how other companies are close to the effort of creating positions in ethics, may be useful. Benchmarking in the industry often generates new and unique ways to incorporate the concept of corporate ethics and recognizing the importance of public ethics for business and industry and the risks associated with violations of ethics.

Corporate Culture

Designed

Very often, the bottom of the ethics of senior officers tend to be legal. But the head of ethics needs to know the company both to succeed. A good leader responsible for Ethics can be more productive if he or she can freely discuss the ethics and compliance topics, and external trends and recent developments in the regulatory practices of the government. The Dodd-Frank Wall Street and Consumer Protection Act and recent changes to the Federal Sentencing Guidelines for organizations, updating the definition of effective ethics and compliance programs are essential components of effective compliance program, the agents of organizations to be ethical current. In essence, ?the Dodd-Frank Wall Street and Consumer Protection Act ends? too big to fail.? Major financial companies are now subject to prudential standards improved, including higher capital requirements. By forcing companies to internalize the costs they impose on the entire financial system, they will have strong incentives to reduce and reduce their complexity, leverage, and interconnections. And if such a firm fails, there will be a larger buffer of capital to absorb losses. ?The Federal Sentencing Guidelines, for example, to provide? clear instructions on the elements of the program to prevent and detect violations of law. ?This is plausible steps to ensure compliance programs compliance and ethics within a company, ie control systems, auditing, mitigation and reporting

. The insurance giant

, Allstate ?Leading with integrity, ?a top-down leadership education program ensures policies, practices and guidelines are effectively communicated. Allstate Ethics and compliance program in place through i-Report of the company website offers employees to secure places to report questionable conduct ? action that shows a lot of culture and behavior change to create such an organization ethically correct from top to bottom. Also Coen Van Beck, a world leader in business ethics and PriceWaterHouseCoopers valid for driving the trend that a strong hierarchical structure is indeed the foundation for a strong ethical compliance program. The world leader in business ethics recognizes the significant challenge of having a seamless system of compliance ethics. The heart of this struggle is the difficult task of developing an environment where employees feel comfortable reporting unethical activities without fear of reprisal. Employee training in the ethical standards of the organization, which are fairly well aligned with the federal guidelines for an effective program makes sense. The PwC also keeps a group of internal auditors or professionals who generally skeptical investigate possible unethical conduct. Employees are encouraged to First take the problems with online management. PwC also has a system of decentralized hotline set up.

The creation of an ethical, values-based culture of company within organizations has become necessary resounding today. The Los Angeles provider of ethics and compliance training and services, LRN, confirms the importance of ensuring ethical behavior and alignment with the values ??of based organizations. Creating a long-term value for the company is a major advantage to promote an ethical culture. As companies see the benefit of an agent of ethics and stewardship in the ethics, they will continue to see lower fault, and performance in the market improves. The ethics of a company generally show in the HR practices such as training, staffing and remuneration, which are the bearers of culture company. Hiring practices should be based on business needs rather than personal relationships. In addition, the ethical process should be included in training workshops and reward systems should be fair and transparent.

The head of HR

main role is to manage both individual talent and organizational culture. For any organization to be ahead of the game by creating a strong ethical culture, ethics and HR functions such as finance , marketing and manufacturing must be connected to each other.

Kenday Samuel Kamara, Ph.D. : A scientist in international development and back-office administration combined with years of experience managing the development of the sector and of peace research with advanced degrees in organizational management and decision sciences. . Had consulted extensively in West Africa, Europe and the United States highlights of his career include : expert administrator for development of microfinance in West Africa, strategic consulting and politics in society civil and institutional capacity building (training workshops, seminars); educator with Walden University, Graduate School of World Problems and the Pan African University; experience of peer review (with Global Integrity) on integrity and scorecards corruption perception index, analysis of environmental impact, social, economic and energy issues, strong knowledge of the European Commission technical assistance procedures, planning and implementation; a international development consultant accredited with the civil CANADEM Advisors and Network Intota experts of international development, and a Fellow of Salzburg (as a researcher for the Kellogg Foundation). Have authored and co-author of several books and a number of essays published on the management of various development issues.

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