Explain the unified code of conduct for business (integrity initiative)
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Explain the unified code of conduct for business (integrity initiative)
Transcribed Image Text:Emp
inter
150 Chapter 10
pror
indi
the
Top Management
Our top management leads by example by consistently demonstrating the
value of conducting business with integrity.
Our officers strongly communicate our organization's position against
bribery, corruption and unethical business practices within the company
and the broader public; comply with all the requirements of government
regulatory 'bodies; and prohibit cover-ups and falsified reports that
conceal improper transactions.
We
(as
fo
Finance
• Management strongly supports integrity practices and allocates sufficient
resources for their. implementation.
Human Resources
We strive to instill culture of integrity among our employees. The
management maintains open lines of communication with employees,
particularly on matters relating to honesty, transparency and integrity in
business transactions.
Proc
In the spirit of fairness and due process, all employees have the right to
file and respond to complaints against practices suspected to be illegal or
unethical.
We have appropriate tools to confidentially receive, monitor, and act on
internal and external complaints.
Employees filing complaints will be protected from all types of
retaliation, while those involved in unethical practices will be subject to
commensurate disciplinary actions.
We have instituted training programs on business ethics covering all
levels of the organization.
Sales and Marketing
We clearly communicate rules and guidelines on giving gifts,
entertainment, tokens of hospitality, and contributions to/from public and
private organizations and their representatives.
Transcribed Image Text:Employees and all third parties engaged by our company to act as our
promise, or give, as well as demand or accept concessions-directly or
Initiatives to Improve Business Ethics and Reduce Corruption
151
intermediaries, agents or representatives are not permitted to offer.
directly- in order to obtain, retain, or secure any undue advantage in
the conduct of business.
We abide by existing laws when transacting with government agencies
las stipulated under RA 6713- Code of Conduct and Ethical Standards
Cor Public Officials and Employees and RA 3019 Anti-Graft and
Corrupt Practices Act).
Finance and Accounting
We require all our employees to ensure that all books and records thev
create or are responsible for are complete and accurate.
Our financial records conform to standard accounting principles, comply
with Securities and Exchange Commission requirements on disclosure
and transparency, and abide by anti-money laundering laws (RA 9160)
and international conventions.
We pay taxes in compliance with all laws,
Procurement
A track record of integrity and compliance with existing laws is a
prerequisite when
intermediaries, and agents. Our company has transparent procurement
procedures, provides equal opportunities for all suppliers, and prohibits,
collusion between and among our employees and suppliers.
we
vet third party consultants, suppliers,
Recognizing that the Integrity Initiative is sustained through widely
shared ethical practices within the business community, we enter into
integrity pacts with our suppliers and ensure that they comply with the
provisions of our pact.
• Contracting a third party to bribe or commit corrupt practices on behalf
of the company is strictly prohibited,
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON