Ethical Code of Conduct Assignment: Business Development

This assignment delves into the realm of ethical codes of conduct within a business development context. It begins by outlining the advantages and disadvantages of formal codes of conduct, providing a balanced perspective on their impact. The solution then underscores the necessity of ethical training for employees, emphasizing its role in fostering awareness of ethical practices and promoting adherence to company standards. Furthermore, the assignment highlights the significance of a company's code of conduct in ethical decision-making, detailing how these guidelines assist employees in navigating ethical challenges and making sound choices. The solution references relevant academic sources to support the arguments presented.

Running head: QUESTIONS 0
Accounting Assignment
MARCH 23, 2020
STUDENT DETAILS

QUESTIONS 1
Answer 1: Advantages and disadvantages of formal code of conduct
The main advantage of formal code of conduct is that it ensures all the employees of
company are treated in equal way. By following code of conduct, the employees will able to
know their roles, responsibilities and duties towards the company. Further, there are also some
disadvantages of formal code of conduct written for the employees. Sometimes, the code of
conduct can facilitate the unethical corporate behaviour. It restricts the workers to speak in
against of the company because of the fear of loss of job. It can also see that some code of
conducts are made without caring mission statement, previous incidents, as well as corporate
values. In different terms, they are not stable.
Answer 2: Need of participation in ethical training
The ethical training promotes attentiveness to the ethical practices in an organisation. The
employees should become take participation in ethical training to know the ethical policy and its
importance. In this way, the employees will be able to know about the standards of ethics,
morality, and truthfulness in the company (Thaler & Helmig, 2016).
Answer 3: significance of code of conduct in ethical decisions
The code of conduct of company states the expectation on how entity needs employees to
behave while facing ethical decision. By following the code of conduct, employees will be able
to know that how to handle ethical challenges and how they can be resolved. In addition, they
will also be able to make correct ethical choices (Scharrer, Neuert & Woschank, 2018).

QUESTIONS 2
References
Scharrer, B., Neuert, J., & Woschank, M. (2018). The Impact of Ethnicity on an Employees
Readiness to comply with a Code of Conduct: Differences between German/Austrian and
Chinese Employees. Journal of Applied Business and Economics, 20(2).
Thaler, J., & Helmig, B. (2016). Do codes of conduct and ethical leadership influence public
employees’ attitudes and behaviours? An experimental analysis. Public Management
Review, 18(9), 1365-1399.