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Explain the unified code of conduct for business (integrity initiative)

Explain the unified code of conduct for business (integrity initiative)

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Explain the unified code of conduct for business (integrity initiative)
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: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.
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,
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,
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