Policy and Plan Development - Assignment Example

? Policy and plan development Introduction The of conduct and professional ethics is meant to apply to the employees of acompany. It requires that members of the board of directors who are not employees of the company must also comply with the same. Even though some part of the code may be particularly relevant to certain people employed. All employees should read, understand, and review the standards because they must act in accordance with the code provided by the company stipulation. According to Booth (1996 p.45), there are objections arising and conflicts that could lead possible disagreements with the code. Sometimes it is important to resolve the issues soon with guidelines that are provided. The employees are advised to talk with their managers and supervisors. They would also consult other important personnel on the illegal or even unethical behaviors. The code purposely to provide a better framework of guiding principles that direct the employees on daily conduct while carrying out their obligations and duties. Especially handling of situations that employees may come across in the workplace may be frustrating. There is a need to have guidance on certain issues that are considered technical. Therefore, those dealing with conflicts of interest may be specified and the procedures posted on the company’s intranet. These policies and procedures are to be included as a reference for the employees and they are subject to being changes or even being the elimination at company discretion. Compliance with the company laws For a company to value its reputation with the applicable government laws and regulations, every employee should comply accordingly while representing the company. The same employee should avoid participating in any conduct that may legally allow is not consistent with the ethics provided by the company. If there is no certainty about what should be done, or not required, by the government rules or policies, the employees should seek indulgence and guidance from the company managers. Conflict of interest The employees of a company should make sure they avoid any conflict or any appearance to so. It is advisable for close members who include Employee spouses, parents, children, siblings, mothers, in-laws, brothers, sisters, sons and anyone who lives in the employee’s home will not be favored. In some instances, conflict of interest has come up when an employee has some interests that may render the performance of his or her work. ECG company executive has violated this code of conduct. The spouse of an executive received improper benefits because of having his husband in an influential position at ECG. It is unethical to have employees and close relatives to have any financial alignments or even having targets to do so. Those who own the minority equity interest in a company which is owned by public and doing business together is not perceived as having a conflict of interest. In addition, an employee should not perform a duty or transaction with a friendly company or an organization that is managed by a close family member. The same would be viewed as the family member has employed the management position and sales into a family affair. In summary, the employees and their family members are not obliged to request or accept discounts, gratuities, gift certificates or other value items and services of the company vendors. As an example portrayed in the ECG company. As we know, because the employees participate in a wide range of activities, it could be very difficult to specify what could constitute to being having a conflicting interest. A conflict of interest has been practiced and existed in ECG Company. This is when the company executive and his spouse show interest in a financial quest in acquiring the Government Allies Company. There are some instances such as invitations to dinner, lunch or other small favors from the suppliers or vendors that are common to the business and have no special or important considerations to them may not be considered giving a rise or potentiality to a conflict of interest. The employees may not accept any favors or gifts and services from any persons. Anyone who plans to conduct a business with the company the employee works or that competes unless the following criteria are met. -The activities would be consistent with the good business practices, -The value is considered reasonable which implies it is beneficial to the company and promotes legitimate purposes of business. -The frequency and expense of the said activity is likely reasonable. These issues and practical affairs may apply at all instances and may not change during the normal gift giving occasions or during a plan of a company event as enumerated by Mark (2000 p.90). Employees must seek guidance from the chief executive officer before taking part in some activities seen to be breaching the company code of conduct. When an officer gives such an approval, he should submit the records immediately to the chief compliance officer. Competition According to Street & Stephen (2001 p.89), an employee should conduct all dealings with the company customers and their suppliers in a fair and transparent manner. The competition should be honest and ethical. The employees should not obtain an advantage on the point that they can manipulate or conceal the facts and misuse privileged information, material and facts about the company. It is evident that ECG Company has violated this code of conduct. ECG goes into a contract with, X Telco, an employee in ECG was once an employee in X Telco, and furthermore he is in close contact with his other co workers at X Telco. The information could see X Telco not accepting the contract. In this extend, fair competition laws will prohibit activities that would prohibit the business and a fair market place. Employees should not discuss or share any information considered confidential with their competitors or enter into a discussion about the possible price, conditions of service, terms, and allocation of market or boycotts with the known competitor. Loyalty The employees of a company are not allowed to compete with the company they work for as described by Cortenay & Whilhite (2005). They should not be seen taking over the opportunities that belong to the company, also realized to be using the property or information of the company in their own business deals or for personal gain. Employees are therefore, advised to perform their character with legitimacy, when such a situation arises, they should not favor their interests or third party. ECG executive is not loyal to his company when he brings in his spouse into financial interest in the IPO. Confidentiality The employees are supposed to maintain confidentiality on the information that they are in their possession to them by its customers or suppliers. It is only exceptional when the disclosure has been authorized by the Chief Executive Officer or the compliance officer responsible. When the law requires having the information to be disclosed through government regulations, or even legal procedures then it can be assured. Whenever possible, the employees should consult with the company Executives before disclosing any confidential information if they think they have an obligation to do so. The information that is being termed confidential includes all the non-public that might be used by competitors of the company or harm the suppliers or customers if it is having been disclosed. It includes all the information that relates to the company budget, financial, customers, marketing, supply cost, personnel, pricing and salary information. In ECG, the confidentiality of information is being breached as described by (USA International Business Publications, Ibp Usa, 2007). The former employee of X Telco Company seems to be exchanging confidential information with his coworkers. The two companies are yet to enter into a contract. Furthermore, the executive officer of ECG Company has disclosed the information on the acquisition of the Government allies, which could compromise the company intentions. Conclusion Peggy 2009 asserts that, in order to promote the ethics program, it is useful to train staff on the same, how it works, and their roles in the same. No matter the case, the legal system, it will interpret the employee character and behavior as the de facto company policy. To conclude the staff must act if full and accord with policies and procedures set. The managers should carry out training and orient new employees or the company ethics, review the ethics management, involving staff in the review process and strong ethics training. They should also resolve complex ethic decisions. Organizations should develop methods of dealing with dilemmas that arise due to ethical problems. Committees should be formed to deal with dilemmas when they arise. The managers should adopt ethical checklists, proper management policies and staff training. References Booth, P 1996, Controlling development: certainty and discretion in Europe, the USA and Hong Kong. Routledge. Cortenay, Linda & Whilhite, 2005, From disaster response to risk management: Australia's national drought policy. Springer. Mark, T 2000, British planning policy in transition, planning in the 1990s. USA, NJ: Taylor & Francis. Peggy, J 2009, Fundamentals of collection development and management. New York, NY: ALA Editions. 425 Street, J. & Stephen, L 2001, Regional Development Policy Plan: Development inventory. USA, NJ: Indiana Heartland Coordinating Commission. 256 USA International Business Publications, Ibp Usa, 2007, Thailand Research & Development Policy Handbook. Int'l Business Publications. Read More