kindly write proper summary of this. Ethical purchasingThe Company's suppliers play a critical role in its ability to operate andprovide products and services to its customers, and as such ethicalperformance of the Company's suppliers is scrutinised by externalstakeholders and can affect the way the Company is viewed.The Company therefore, selects its suppliers carefully based on adefined criteria and will subsequently demand that all suppliers tocomply with legal requirements and act in a manner that is consistentwith the Company's Code of Ethics. Furthermore, the Companyexpects its suppliers to actively cooperate in achieving the objectivesof the SHEQ policy.AdvertisingIn order to uphold the trust of our customers, the Company'smarketing, advertising and sales activities will fairly, honestly and legallydescribe product and services on offer. The Company's trademarksmust be used consistently and appropriately to avoid loss of our legalrights. If a customer or supplier wants to use the Company's name orlogo in their advertising, this must be approved in advance by theCompany. All official advertising and promotions must be approved bythe Company. Any marketing practice that is false, misleading ordeceptive is strictly prohibited.4.Dealing with our shareholdersPakistanOxygenn8Financial reporting and communicationShareholders, financial analysts, creditors, lenders and other membersof the public rely on the Company to provide them with reliableinformation regarding the Company's operations, performance andoutlook. The Company's credibility is measured in particular by theintegrity of its books, record keeping and financial reporting. Failure tokeep accurate and complete records can be construed as a financialirregularity or as fraud.The Company will implement and maintain effective business controlsto ensure that financial reporting has a sound basis to work from. Allrelevant employees of the Company must help to ensure that thereporting of business information computerised, on paper or in anyother format - is accurate, honest and timely. The Company willprovide all members of the public with equal access to the sameinformation source. Insider dealingInsider dealing laws prevent people from trading for their own oranother person's benefit based on relevant information, which theybecome aware of ahead of the market. Insider dealing typicallyoccurs when an insider or a related party trades in shares or othersecurities based on material or non-public information obtainedthrough the insider's job, stolen or otherwise misappropriated. TheCompany's employees must not engage in insider trading, such asdisclosing confidential information to anyone outside the Company.including family members. The Company's employees, like all otherpeople, are prohibited from dealing in shares or other securitiesbelonging to the Company, or any other company based on "insideinformation" obtained from their jobs.Protecting company secretsThe Company's intellectual property is its competitive edge. Much ofthe information and data possessed by the Company consists ofconfidential materials, such as company secrets, that must not bePakistanOxygen9disclosed except to relevant persons within the Company. Innovativeproducts and solutions are important for the continuous growth of theCompany.The Company produces valuable, non-public ideas, strategies andother business information, i. e. intellectual property, which it owns andprotect. Misappropriating third parties' confidentialinformation can expose the Company and its employees to risk.Various laws protect confidential information. Employees must takeadequate steps to protect the Company's confidential information,which they have in their possession. Even after retirement or resignationfrom the Company, employees must not reveal or disclose theneeds toconfidential information and data that they came to know, learned oracquired during their employment at the Company. The Company willnot use the confidential information they have on other companies.All inventions made by employees or by third parties for use by theCompany must be given adequate legal protection. Licences for theCompany's patents or know-how must be negotiated and issued onlycoordination withinthe legal department and Companymanagement.All employees must respect confidential information belonging toothers. All employees must immediately report to their superior and/orrelevant division if they become aware of a person engaging in illegalor criminal acts or acts in violation of the Company's policy and rules,including any violations of the Company's confidentiality obligations.

Corporate ethics is the study of apt business practices regarding potentially controversial matters…

Answered: write proper summary of this

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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kindly write proper summary of this.

Transcribed Image Text:Ethical purchasing The Company's suppliers play a critical role in its ability to operate and provide products and services to its customers, and as such ethical performance of the Company's suppliers is scrutinised by external stakeholders and can affect the way the Company is viewed. The Company therefore, selects its suppliers carefully based on a defined criteria and will subsequently demand that all suppliers to comply with legal requirements and act in a manner that is consistent with the Company's Code of Ethics. Furthermore, the Company expects its suppliers to actively cooperate in achieving the objectives of the SHEQ policy. Advertising In order to uphold the trust of our customers, the Company's marketing, advertising and sales activities will fairly, honestly and legally describe product and services on offer. The Company's trademarks must be used consistently and appropriately to avoid loss of our legal rights. If a customer or supplier wants to use the Company's name or logo in their advertising, this must be approved in advance by the Company. All official advertising and promotions must be approved by the Company. Any marketing practice that is false, misleading or deceptive is strictly prohibited. 4. Dealing with our shareholders Pakistan Oxygenn 8 Financial reporting and communication Shareholders, financial analysts, creditors, lenders and other members of the public rely on the Company to provide them with reliable information regarding the Company's operations, performance and outlook. The Company's credibility is measured in particular by the integrity of its books, record keeping and financial reporting. Failure to keep accurate and complete records can be construed as a financial irregularity or as fraud. The Company will implement and maintain effective business controls to ensure that financial reporting has a sound basis to work from. All relevant employees of the Company must help to ensure that the reporting of business information computerised, on paper or in any other format - is accurate, honest and timely. The Company will provide all members of the public with equal access to the same information source.

Insider dealing
Insider dealing laws prevent people from trading for their own or
another person's benefit based on relevant information, which they
become aware of ahead of the market. Insider dealing typically
occurs when an insider or a related party trades in shares or other
securities based on material or non-public information obtained
through the insider's job, stolen or otherwise misappropriated. The
Company's employees must not engage in insider trading, such as
disclosing confidential information to anyone outside the Company.
including family members. The Company's employees, like all other
people, are prohibited from dealing in shares or other securities
belonging to the Company, or any other company based on "inside
information" obtained from their jobs.
Protecting company secrets
The Company's intellectual property is its competitive edge. Much of
the information and data possessed by the Company consists of
confidential materials, such as company secrets, that must not be
Pakistan
Oxygen
9
disclosed except to relevant persons within the Company. Innovative
products and solutions are important for the continuous growth of the
Company.
The Company produces valuable, non-public ideas, strategies and
other business information, i. e. intellectual property, which it owns and
protect. Misappropriating third parties' confidential
information can expose the Company and its employees to risk.
Various laws protect confidential information. Employees must take
adequate steps to protect the Company's confidential information,
which they have in their possession. Even after retirement or resignation
from the Company, employees must not reveal or disclose the
needs to
confidential information and data that they came to know, learned or
acquired during their employment at the Company. The Company will
not use the confidential information they have on other companies.
All inventions made by employees or by third parties for use by the
Company must be given adequate legal protection. Licences for the
Company's patents or know-how must be negotiated and issued only
coordination with
in
the legal department and Company
management.
All employees must respect confidential information belonging to
others. All employees must immediately report to their superior and/or
relevant division if they become aware of a person engaging in illegal
or criminal acts or acts in violation of the Company's policy and rules,
including any violations of the Company's confidentiality obligations.

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