Ethics in business relate to the acceptable practices and standards that guide the performance of employees, suppliers, managers, creditors, directors and other stakeholders (Barth, 2003). The ethics code is one of the most important documents since it strives to create an equitable balance between all stakeholders of the company and their roles. Keen pursuance of the ethics code is required to ensure that company operations run smoothly both internally and externally.
Company Values
As an Engineering Company operating in manufacturing and energy sectors, we as the Board of Electroget Engineering Services feel that the following values underpin our mission to be the best service provider in our field.
- Integrity: In all our dealings, we strive to provide the highest ethical standards. We are honest with ourselves and other stakeholders. It is the duty of all our stake holders to maintain our reputation and company image. We accept our responsibility and take charge of our actions and are accountable both the shareholders and the public.
- Trust: As an organization, we trust, respect and support each other in all business and social interactions. Electroget is founded on company values and we see each other as a community.
- Diversity: As an organization, we learn and respect the communities and social setup from which we operate. We demonstrate utmost respect and appreciation for each individual and the diversity and uniqueness that they present to this organization. Our work environment and policies are all-inclusive and we embrace the diversity of all stakeholders, their ideas, thoughts and experiences.
- Ingenuity: As an engineering and technology based organization, we value creativity and innovation. We continually seek opportunities in extraordinary business solutions. Our experienced team seeks innovative minds to drive forth our agenda and deliver value to our customers.
- Safety: Electroget Engineering places a lot of emphasis on the health and safety of our workforce. We provide a world-class employee medical scheme to ensure that our most valuable asset-employees, feel appreciated. We also emphasize the need to be responsible over the environment in all our operations.
Management of the Business
In relation to the execution of management and administrative functions, Directors and managers should;
- Conduct their affairs in a professional, ethical and responsible manner
- Inform the owners/shareholders periodically about the performance of the organization and the outlook of the firm in future days
- Strive to ensure that the accounting and internal control systems are working perfectly to protect the assets of the firm
- Promote active participation of all stakeholders in company issues during annual general meetings, special meetings, board meetings and informal gatherings.
- Ensure that the books of accounts and records of financial information are well kept to ensure that they provide accurate, relevant and useful information.
- Subordinate their own interests to those of the company when acting on behalf and in representation of the firm.
- Facilitate and promote transparency in matters relating to remuneration, promotion and other human resource functions to ensure that the organization is seen to be an equal opportunity employer.
- Provide leadership, guidance and motivation to all stakeholders
Employees
This section outlines how the firm deals with its workforce to ensure that ethical standards are maintained.
- The company treats all employees with respect, dignity and justice with respect to their diversity and cultural sensitivities
- Do not discriminate against any employee on the basis of race, religion, sex, nationality or any other social or personal condition
- The company prohibits in the strongest terms possible any form of harassment at the workplace
- We recognize the right of employees to unionize, associate and the power of collective negotiation through appropriate channels
- The company promotes the personal development and training of employees in line with career development objectives. This is done through school grants, in-house training, team building, seminars and any other platforms that may be effective
- The company exercises a clear policy on matters regarding recruitment, staffing and promotion. These human resource functions are conducted on the basis of merit, experience and suitability of position.
Suppliers and Customers
In regard to these stakeholders, the company strives to;
- Maintain ethical, professional and licit relationships with these stakeholder groups to ensure furtherance of the company agenda
- Work with suppliers whose business practices are in strict adherence of the law, uphold human rights and would not compromise the reputation of Electroget Engineering
- The company seeks to produce high quality goods and services that meet the needs of the clients. For this to be achieved, the company emphasizes on easy customer interaction through our customer service platform and other networks such as social media and direct promotion.
Consequences and penalties for non-observance to the set code of ethics
It is the duty of all stakeholders to maintain ethical standards and ensure that the organization is running smoothly. The company CEO, directors, and managers are responsible for the accountability and promotion of the ethical code in the firm (Legge, 2007). They are the last line of defense and stakeholders should promptly notify these guardians in any case where ethical practices are not upheld. The audit committee and Board of governors has the ultimate responsibility over the operations of the firm and are to be consulted on difficult ethical issues such as insider trading, conflict of interest, confidentiality and use of company assets.
References
Barth, S. R. (2003). Corporate ethics: the business code of conduct for ethical employees.
Boston, Aspatore
Jackson, A. (2004).Profits with principles: seven strategies for delivering value with values. New
York, Currency/Doubleday
Legge, K. (2007).The ethics of HRM in dealing with individual employees without collective
representation. Pinnington, Macklin & Campbell
Stassinopoulos, A. (2003).Pigs at the trough: how corporate greed and political corruption are
undermining America. New York: Crown publishers
