Business And Company Ethics

Question 1

What are they?
What does it cover from?
Where are most disclosures found?
What can disclosure be seen as if it extends beyond legal requirements?
Why should an entity have policies in a number areas?

Answer 1

The attitude and behaviours of an entity in its application of ethical values
Board strategies to negotiations with suppliers
CSR
Discretionary
To ensure its survival

Question 2

Purpose of the business
What is this?
What are the 3 main areas in the company’s mission statement?

Answer 2

Reason for the entity’s existence

Broad outline of their goods and services
Their financial objectives
Role of business in society from their perspective

Question 3

Workforce
What must an entity have?
What do employees have and how should they be treated?
What 10 things should be their be a disclosure of policy’s on?

Answer 3

Information on how it works with employees
Rights, dignity and respect
Work conditions, recruitment, training and development, rewards and bonuses, health+safety and security, equal opportunities, retirement, redundancy’s, discrimination and uses of entity assets by employees

Question 4

Customer relations
Why should company maintain quality of goods and services?
What’s considered a fair price?
What should company invest in?

Answer 4

Maintain customers loyalty
Company making a profit and customer paying reasonable price
Quality, fair prices and after care

Question 5

Shareholders and other providers of finance
What will they want money wise?
What must the company provide?
What should the company allow? Under principle of what?
So what should company provide shareholders with?

Answer 5

Return on investment
Financial statements and other financial information
Some involvement in decision making
Corporate governance
Return on investment and accurate past and future business info

Question 6

Suppliers
What are they? 
What can company expect?
What should company do?
What should be arranged with suppliers?
What should company not do? Examples

Answer 6

Providers of goods and services
Products of acceptable quality delivered on a timely basis
Pay suppliers promptly
Efficient delivery of goods
Use doubtful practices to secure contracts
Bribes or excessive hospitality

Question 7

Society
What do company’s accept?
What is this acceptance communicated through?
The company should in particular include in report...
How it?
Steps taken to?
How it is?
It’s policy with reference to?

Answer 7

Role in society and community at large 
CSR
Complied with relative legislation 
Protect and improve environment 
Involved with the local community 
Sponsorship and charitable donations

Question 8

Implementation
What should this identify?
What should happen annually?(3)
What does having rules or codes help?

Answer 8

CGC
Review of CGC, it’s provisions and how the entity is making efforts to comply
Resolving ethical conflict

Question 9

What are the 3 benefits or a code?
FGB
What are the 3 limitations of a code?
SIP

Answer 9

Provides framework for resolving conflict
Provides guidelines for similar ethical disputes and how to resolve them
Provides boundaries across what is ethically incorrect to pass

Only a code. Might not fit specific ethical issues
Can be interpreted in many different ways
In some cases there’s no punishment for breach of code