The Role of Ethical Standards while Carrying Out Various Activities within the Organizations - Research Paper Example

? Ethics Report Table of Contents Executive Summary 3 Introduction 4 Interview Reflection 5 Reflection on the Issues Identified 7 Conclusion 10 References 11 Appendix 13 Executive Summary In the modern business world, code of conducts is duly regarded as one of the vital aspects especially for the professionals in order to perform day- to-day operational functions effectively. It is crucial that code of conducts should be prudently framed and implemented so that every staff member in an organization is well aware of the standard practices and behaviors. It is essential that professionals should communicate code of conducts effectively so that any improper action or legal ramification is avoided. Correspondingly, this paper entails the conduct of interview with a management trainee belonging to Commonwealth Bank and a Human Resource manager of Bank of America Corporation in order to understand the impact of code of conducts on their behavior and career development. Introduction In the current business environment, it can be viewed that most of the leading companies throughout the globe are widely embracing the functions relating to human resource (HR). The HR managers or the HR professionals performing various sorts of HR functions are often considered to be planned change agents, proven leaders and trusted member within a particular organization. It can be admitted that HR functions over the years have dramatically changed from transactional towards more strategic due to changing business environment. At the same time, it can be firmly argued that without skillful abilities, it is quite hard for HR managers to perform various roles and HR functions efficiently (Rocca & Morrow, 2008). Correspondingly, two professions have been identified for the research purpose that includes a HR management trainee from Commonwealth Bank and a HR manager from Bank of America Corporation. Commonwealth Bank is regarded as one of the leading finical service providers in the world which deals with the services associated with retail, institution banking, funds management, insurance and investment among others. The bank performs its various operational functions in various regions of the globe such as New Zealand, United States of America, Fiji and United Kingdom among the primary countries (Commonwealth Bank of Australia, 2013). Similarly, The Bank of America Corporation is an American based multinational financial service provider which is regarded as the second largest banking company in the US in terms of assets. The bank is committed to provide valuable service to its customers through delivering various financial and non-financial services such as employment, lending and investing. The interview was conducted through e-mail conversation and thus questions have been framed duly prior to the interview. The interview questions were designed to address various relevant aspects associated with HR (Bank of America Corporation, 2013). The primary rationale of conducting the interview was to acquire considerable understanding about code of conducts and their impacts on the behavior of individuals during the course of career development. Interview Reflection The interviewees warmly responded to the first question (refer to Appendix) and asserted that while devising and enforcing professional/organizational code of conduct, various aspects are taken into concern. Accordingly, it was apparently observed that management support, consultation with staffs, explicitly defined terms and policies are crucial while devising the organizational policies. It was emphasized that the devised policies should be directed towards the welfare of the organizations and should be fair as well as free from any kind of biasness. It was also stressed that the policies devised should be regularly evaluated and monitored in order to ensure the efficiency of the policy enforced. Based on the interview, the management trainee of Commonwealth Bank emphasized the functions and the responsibilities to be the critical factors for ensuring smooth functioning of the organization. While, the HR manager of Bank of America Corporation stressed on clear definition of organizational objectives for ensuring the effectiveness of the policies devised and enforced. With reference to the second question (refer to Appendix), both the interviewees responded that HR professionals are responsible for adding credibility and value ensuring the ethical success of the organizations. It was ascertained that the core principles related with HR professionals should be closely tied with the organizational goals as well as objectives. Furthermore, it was observed from the interview that the core principle of any profession should positively influence the workplace environment and ought to help in enhancing decision-making procedures. Both the interviewees agreed that core principles followed in the organizations and the organizational culture are the strong determinants that largely influence the behaviors of the staff members. Responding to the third question (refer to Appendix), the interviewees asserted that HR professional are expected to reveal individual leadership as a role model for maintaining utmost standards of ethical conduct. It was admitted that in order to set standards, an individual as a form of leader must exhibit as an example so that other members in the organizations are encouraged to follow the established standards. The management trainee advocated that leadership within an organization should be based upon the core organizational and professional principles, while the HR manager emphasized that organizational and professional principles act as a guide, but leadership in an organization should be situation oriented. It was ascertained from the fourth question (refer to appendix) that communication is an imperative part for ensuring successful implementation as well as execution of policies and standards. It was further observed that the way an individual interact with the clients and other members within an organization significantly influences its functioning. It was advocated by both the interviewees that staff training is vital aspect for enhancing communication amid the staff members of the organizations. Moreover, both the interviewees agreed that all relevant information and code of conducts should be explicitly defined and articulated. Responsively, it was admitted that these information and code of conducts should be written in positive language and well framed. It was also affirmed by both the interviewees that effective communication based programs and education sessions serve as the effective ways for monitoring and guiding the behaviors of the staff members by a considerable level. It was apparently observed from the fifth question (refer to appendix) while conducting the interview that code of conducts and other relevant standards should be evaluated and reviewed continuously in order to ascertain its impact and raise the effectiveness of other staff members. However, the interview with the management trainee postulated that once the code of conducts is established, it is the responsibility of other members to abide by those standards. Conversely, it was ascertained from the HR manager that the role of HR professionals are not only limited to formulate effectual code of conducts, but should also encourage and monitor its practice among other members. It was ascertained from the sixth question (refer to appendix) that any individual who is identified to breach organizational code of conduct, then he/she would be liable for legal ramification. Both the interviewees admitted that such consequences bind the staff members to reveal fair practice within the organizations and work collaboratively towards accomplishing the common organizational objectives. Additionally, the last question (refer to appendix) postulated that both the interviewees have unique experience while working in their respective organizations. Reflection on the Issues Identified From the interview, it can be affirmed that framing organizational policies and code of conducts is quite indispensable for smooth functioning and success of a particular organization. It is vital that professionals dealing with any organization need to have competencies and skills for framing effective policies. Prior to framing the policies, it is essential for the professionals to research, analysis and seek consultation from top management along with staff members as these policies have the potential to significantly influence the behaviors of other members in the organization by a certain extent. Furthermore, it is crucial that the policies devised should be well integrated with the organizational goals and the needs as well as the expectations of the staff members. All individuals including those involved in framing policies in an organization are also liable to abide by these policies and code of conducts (Office of Auditor General, 2011; Belak & Milfelner, 2011). Furthermore, it is crucial for any professional that core professional and organizational principles are duly adhered. It was observed that it is essential to develop core values and act accordingly in order to attain utmost satisfactory outcomes. The organizational professionals should understand the importance of teamwork and respect the ideas and emotions of all members while working in a collaborated manner to achieve mutually beneficial goals. It is vital for professionals to perform their respective assigned tasks honestly with excellence and greater commitment. Moreover, developing a sense of professionalism is a prominent component for any career development initiative (Hyde & Williamson, 2000). Professionals, as a leader are often considered to be a vital variable affecting the workplace environment and the organizational performance at large. It can be argued in this regard that the role of the professionals as a leader must display the qualities of ethical leadership. It is essential for professionals to develop enhanced leadership abilities, skills and traits that facilitates fair practice and motivates other staff members to act ethically (Packard, n.d.). As a professional, an individual is required to examine personal characters and integrate those characters with leadership practice in an ethical manner. It can be affirmed that the process of transformation entails changes and ethical leaders must constantly involve in following this process for developing overall performance (Monahan, 2012). It can be stated that in the current business world, almost all the organizations possess standards and code of ethics. Any deviation from code of ethics and standards is often termed as scandals. It can be stated that professionals in business have chief role to play in supporting the facet of organizational ethics. All the professionals can support code of conducts through developing their own behavior. It is crucial that code of conducts is communicated to other staff members in an efficient manner and also through the use of effective medium. It is essential that codes are easily comprehended by all the staff members and any negative phrasing must be omitted. The codes should promote proper conduct and explanation in a simple way and ought to be written in a positive language rather than seeking demand. It can be stated that communication programs and education sessions are vital component for guiding staff members as well as monitoring their behaviors. Correspondingly, training of staff members is observed to be a vital aspect for ensuring greater compliance of the determined codes. The well communicated codes facilitates in effectively dealing with ethical dilemmas by a certain degree (International Federation of Accountants, 2007). Individuals should comply with their respective professional body’s code of conducts in order to support the organizations for accomplishing their predetermined business targets. Additionally, complying with codes facilitate the professionals with ethical decision-making. It is crucial for the organizational professionals to understand the factors that contribute towards the violation of the code, so that any possible legal ramification is avoided. It can be stressed that the organizational professionals should not view the codes negatively rather these should be considered as the means for elevating the working standards that mutually benefits the professionals as well as the organizations. It is essential for the professionals to obtain regular feedback as the success of the implemented codes largely depends on the awareness of the staff members (Gilman, 2005). Conclusion From the above analysis, it can be comprehended that the organizational professionals and the staff members maintain greater ethical standards while carrying out various activities within the organizations. It is quite essential that the codes of conducts are effectively framed and executed so that every staff member is able to understand articulated contents and standards easily in the form of codes. The codes that have been articulated should be closely tied with the organizational culture and principles. It can be affirmed that the role of organizational professionals is invariable in terms of developing and defining effectual code of conducts. It can be stated that more senior position that holds by the professionals within the organizations have the greater responsibility and ability to influence the events as well as the behaviors of the staff members. It is worth mentioning that the implemented code of conducts should be properly communicated to the staff members so that any improper action is avoided and most vitally mitigating any sort of challenge or problem. In other words, formation of regular communication based programs and education sessions should be conducted for promoting greater awareness among the staff members regarding smooth execution of code of conducts and eliminate any possible legal ramification. The professionals should not deviate from the respective codes of conduct and should abide by it every time towards the attainment of organizational targets. References Belak, J., & Milfelner, B. (2011). Informal and formal institutional measures of business ethics implementation at different stages of enterprise life cycle. Acta Polytechnica Hungarica 8 (1), 105-122. Bank of America Corporation. (2013). About us. Retrieved from https://www.bankofamerica.com/ Commonwealth Bank of Australia. (2013). Our company. Retrieved from https://www.commbank.com.au/about-us/who-we-are/our-company.html Gilman, S. C. (2005). Ethics codes and codes of conduct as tools for promoting an ethical and professional public service: comparative successes and lessons. Retrieved from https://www1.oecd.org/mena/governance/35521418.pdf Hyde, P. & Williamson, B. (2000). The importance of organizational values. Focus on Change Management 68, 1-10. International Federation of Accountants. (2007). Defining and developing an effective code of conduct for organizations. Retrieved from http://www.ifac.org/sites/default/files/publications/files/Defining-and-Developing-an-Effective-Code-of-Conduct-for-Orgs_0.pdf Monahan, K. (2012). A review of the literature concerning ethical leadership in organizations. Emerging Leadership Journeys 5 (1), 56-66. Office of Auditor General. (2011). A guide to policy development. Retrieved from http://www.oag.mb.ca/wp-content/uploads/2011/06/PolicyDevelopmentGuide.pdf Packard, T. (n.d.). Leadership and performance in human services organizations. Leadership and Performance in HS Organizations, 143-164. Rocca, L. L., & Morrow, J. (2008). Today’s HR leader—it’s all about the business. Retrieved from http://www.nosalpartners.com/articles/HR_Leader_FINAL.pdf Appendix Interview Questions 1. How do you police your professional/organizational code? 2. What are the core principles that you follow while working in the organization? 3. How do you relate ethical leadership with job position? 4. How do you communicate the standards and codes to other members? 5. Do you have to continuously monitor the codes and educate members regarding these codes? 6. Is there any legal ramification if the code is breached within your organization? 7. What is your working experience? Read More