What is an ethics code of conduct? List two things important to know about such codes. Give one example.
An ethics code of conduct is a document that articulates to the company a wide variety of policies on subjects such as employment, conflicts of interest, employee, client and vendor information, etc…It is important to note however that the code must be a living document in order to be effective, if it is simply printed and filed away you cannot expect change. Another important factor is that the codes, if administered properly can have a real impact on the firm and improve its ethical behavior. An example of this tool is that it gives employee a shield to raise ethical concerns from. Instead of feeling like an complete outsider, the concerned party can refer to the code of conduct and its importance to upper management which should be revealed by how it’s implemented.