group 5

• Code of ethics


  A set of principles or guidelines that govern the behavior and actions of individuals within a particular profession, organization, or community
• Purpose of a code of ethics


  It is designed to provide a framework for professionals to make ethical decisions and uphold the values and mission of their organization
• Five codes of corporate ethics

  • Integrity
  • Objectivity
  • Professional competence
  • Confidentiality
  • Professional behavior
• Integrity


  Serves as the foundation for ethical conduct within a company, reinforcing the values of honesty and consistent behavior
• Objectivity

  Employers must prioritize objectivity to ensure that their decisions and actions in the workplace are not influenced by personal relationships or emotional biases
• Professional competence


  Knowledge, skills, and abilities that professionals possess to effectively navigate ethical dilemmas and make informed decisions in their respective fields of work
• Confidentiality


  Information shared privately is expected to be handled with utmost respect and restriction
• Examples of professional behavior

  • Reliability
  • Integrity
  • Respect
  • Punctuality
  • Effective communication
  • Conflict resolution
  • Time management
  • Leadership skills
  • Dress and appearance
  • Adaptability
  • Teamwork
  • Accountability
  • Continuous learning
  • Cultural appropriation
  • Networking
• Duties to clients and customers
• Duties to the public
• Duties to company
• Three main categories or types of codes of ethics
• Code of corporate conduct


  A set of rules, principles, values, employee expectations, behaviors, and relationships that a business believes are important and necessary for its success
• Purpose of a code of conduct

  To make the workplace a secure, courteous, and professional place for all workers
• Conflicts of interest in a code of conduct

  • Nepotism
  • Securities transactions
  • Taking out loans
  • Corporate asset contributions
  • Insider trading and financial interests
• Equal opportunity


  Ensures that all employees have an equal chance to succeed, regardless of their background
• Discrimination and harassment


  Can contribute to occupational health disparities and result in the mistreatment of workers through unjust practices
• Safety policy


  Measures put in place to protect people, assets, and information from physical and digital threats
• Violence policy


  Defines actions that protect employees from threats and violence
• Privacy policy

  Safeguards personal data and builds trust
• Code of conduct


  A set of rules, regulations, and guidelines that specify what constitutes appropriate and inappropriate behavior for employees
• A company's code of conduct is a crucial component of its employee handbook since it aids in upholding standards and providing a solid basis for the company's core values
• Differences between the code of corporate conduct and the code of corporate ethics

  A code of ethics ensures members have sound judgment and can make unbiased decisions, while a code of conduct focuses on specific actions and behaviors and guides employees on how to act professionally in the workplace
• Code of conduct


  Outlines the rules, social customs, and duties that each employee in a company is expected to follow
• Differences between code of corporate conduct and code of corporate ethics

  • Professional standards are the cornerstone of any organization
  • Codes of ethics and codes of conduct are two important types of professional standards
  • While they are similar, there are some subtle differences
• Code of ethics


  Ensures members have sound judgment and can make unbiased decisions, particularly important in fields such as law and finance where conflicts of interest can be significant
• Code of conduct


  Focuses on specific actions and behaviors, guides employees on how to act professionally in the workplace, including norms such as punctuality and accuracy which are essential for maintaining a positive work environment
• By adhering to these professional standards, organizations can ensure that their employees act with integrity and professionalism, which benefits the organization and helps to build trust with clients and customers
• Code of conduct


  A company manual that states the rules, values, goals, ethics, and vision of a business, provides staff with a clear outline of expected behavior, and instructions on what is and isn't considered good practice by the company
• Importance of a code of conduct

  • Provides a clear guideline for expected behavior in the workplace
  • Outlines a company's vision, mission, values, and principles
  • Communicates to employees what you want from them
  • Outlines a clear hierarchal structure, roles of employees, and organizational structure
• The festive season is a fun time for all, but it also has an increased chance of breaches of conduct, so it's worth sending employees an email about the code of conduct to remind them of proper behavior
• Corporate social responsibility

  A type of business self-regulation with the aim of social accountability and making a positive impact on society
• Operating in ways that improve society and the environment rather than negatively affecting them is part of this ethical commitment, and participating in corporate social responsibility (CSR) involves moral duties that encompass financial accountability, philanthropic efforts, environmental implications, and ethical duty
• Companies in the Philippines that have CSR

  • Jollibee Group Foundation
  • Metrobank
  • Ligo Sardines
• Importance of corporate social responsibility

  • Participating in CSR initiatives and being aware of the social, cultural, and environmental effects of business operations would benefit organizations as well as the larger community
  • Creating and implementing an effective CSR plan is not only good for the causes that companies support, it is also crucial for retaining customers since customers are becoming more aware of a company's values and contributions to the community
  • CSR will remain significant for a very long time to come and is not merely a passing trend in business
  • An emerging company means an open opportunity to responsibilities welcomed in their working experience to retain the image of their service or product to consumers
  • CSR holds a heavy weight for companies as it has undeniably transitioned into the recognized company strategy and influenced many important areas of corporate decision-making
• Four types of corporate social responsibility

  • Philanthropic efforts
  • Environmental conservation
  • Company diversity and labor practices
  • Supporting volunteer efforts
• Philanthropic


  To promote the well-being of humanity or one's fellow human beings
• Companies all over the world have an obligation to give support to communities through donating to charities, volunteering, and getting involved in local projects, and this can be good marketing for businesses to build relationships with the community
• Bill and Melinda Gates represent the epitome of benevolent entrepreneurship, using the profit they accrued from Microsoft to help kids get a better education and ensure more people in the United States could have access to technology and information
• The Bill and Melinda Gates Foundation they built has greatly impacted the world by focusing on fields such as global health, poverty, education, gender equality, global growth, and opportunity