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What are the advantages and disadvantages of a company having a formal code of conduct that employees are obligated to follow? What are your thoughts about whether employees should have to participate in mandatory ethical trainings each year? How might having a code of conduct help an employee make decisions when faced with an ethical situation? Respond to these as well: 1. The advantages of a company having a formal code of conduct that employees are obligated to follow builds a representation for the company not only for the potential customers, clientele but also the potential employees it may attract. Hopefully the of the company is good for both the clients and employees that they are both valued in the company. Having a plan on how to conduct day to day business is good for the company’s up keep such as the proper handling of financial information, customer care and how task are assigned to employees. So no one employee is overwhelmed with the risk of having poor performance or inaccuracy. The disadvantages of a company having a formal code of conduct that employees are obligated to follow could be cultural challenges such as working on holidays and some business never close so making it mandatory to work on holidays could be a challenge for some. Not fully thinking out the code of conduct for a business could have many disadvantages because the company is a stake. Yes, I believe every employee should participate in mandatory yearly ethical training. The training will benefit the employee as well as the company. The training will refresh the memory of the employee and help with possible problems that may have accrued through out the year. Having a code of conduct could help an employee make decisions when faced with a situation that requires you to maintain professional behavior no matter the situation it reflects character and sets an image for business. Respect yourself as an individual, fellow employees and customers to maintain a well rounded environment. 2.(nina b) A formal code of a company is to enhance the company’s core values, beliefs and sets the right culture. it is a central guide and reference for employees in supporting day to day decision making. Every code of conduct is unique to the organization it represents. Whereas, it instills a sense of professionalism in each and every employee, and boosts the companies efficiency and reputation as a whole. A list of fundamental principles integrity- A professional accountant should be straight forward and honest in all professional and business relationships. Objectivity Professional competence and due care Confidentiality Professional behavior Some companies are not up for the challenge due to serious faults such as: The company do not address the range of a business activities, especially it principle ones. The company are not clearly linked with objectives and culture. The company are not effectively linked to concepts of integrity. The company sets the wrong tone; legalistic and to vague. The company contains the wrong degree of detail regarding expectations. The company do not address the realities conducting business. The company do not provide employees with effective ways to a address business challenges. These are some of the reasons that a company would fail due to the circumstances regarding the code of conduct.
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