Ethical Issues in Business and the Importance of Code of Conduct

Preparing for
professional career

Table of Contents
INTRODUCTION...........................................................................................................................3
Part A- Report.........................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCE...................................................................................................................................6
Appendix..........................................................................................................................................7
Part B- CPD............................................................................................................................7

INTRODUCTION
The aim of this report is to define the issue that faces by an organisation. Along with this, it
also covers the discussion about the code of conduct that assists in resolving the issues.
Moreover, the support and guidance available from the relevant organisation is mentioned. Also,
the positive as well as negative assessment of code of conduct is explained further. At last, an
OPD plan is mentioned in the appendices which involve a brief about the learning developed
from this report that it involves the impact on the future career and SMART objectives that have
taken place with regards to business ethics.
Part A- Report
Ethical issues in business influence a wide range of areas relating to a company's overall
operating procedures. The issue of ethical dilemmas in company focuses on the measures that a
company takes and the rules that a company establishes in order to handle ethical issues that
arise. Defining a code of ethics for the company to follow can assist in setting a solid foundation
of fundamental faith among business and its workers, consumers, partnerships, vendors and so
on. An organisation in an industry encounters various ethical issues while operating in an area
(Ramseur and et. al., 2018). The issues involve corruption, human rights, CSR, corporate
governance, sustainability, working conditions and environment. Corruption leads to the
employee morale suffers as a result of financial loss and also reputational harm to the
organisation. Corporate governance has an impact on the formation and operation of capital
markets, as well as on deployment of resources. It has an influence on corporate behaviour and
productivity as well as on creative effort entrepreneurship and progress. Human rights due
diligence is the technique whereby a firm determines when, where and how its actions may have
an influence on human rights and prioritises such implications for act. It determines suitable risk-
mitigation methods, monitors the efficiency of its actions and informs others regarding its
achievement.
A code of conduct is a collection of standards that workers should adhere inside a
company. The code serves as a baseline that employees must fulfil in order to understand what is
required from them and to build a higher productive firm throughout (de Araujo, Webel and
Reys, 2017). It provides both as a set of internal standards for the workers to adopt and as an
external expression of business principles and responsibilities. A code of conduct will
communicate to all of the stakeholders which would include shareholders, personnel, consumers