Corporate Code of Conduct Policy Essay

The Sherman Act was created in 1890 had two major provisions which was to prohibit conspiracies to restrain trade and also to outlaw monopolization. In 1914 the Clayton Act was passed to expand off of the Sherman Act. The Clayton

The people were unhappy with the corruption of these businesses and pressured the government to take action against them. The Sherman Act, had a very small effect on the monopolies due to its loose enforcement and was followed by the enactment of the Federal Trade Commission Act and the Clayton Act. The Federal Trade Commission Act did not allow for unlawful practice and unlawful competition between businesses, but allowed to enforce stricter laws and policies that the Sherman Act did not have power over. The Clayton Act did not allow businesses to form together to reduce competition and initiate a large monopoly to form. These acts helped to dissolve and weaken monopolies and were continuously amended to strengthen

Once the policy has been executed and training has started, communicating aspects about the code of conduct can have a significant impact on the ethical culture. Many of these communications come through the human resources department, but the voice of the executive management team is critical in these communications.

At Company X, it is our upmost desire to comply with rules and laws pertaining to our business, and to hold our values at a spectacular level. Our company values include responsibility, equality, honesty, confidentiality, respect, and integrity. These values are the building block of our company, and should be followed by all employees, management, and any persons associated with our business. By adhering to the code of conduct, our work environment will be comfortable and reliable, and will help avoid unethical behavior.

We as business owners, management and or in a role of authority must set, address and comply with a solid foundation of ethics. “A code of conduct is the single most important element of your ethics and compliance program. It sets the tone and direction for the entire function. Often, the code is a standalone document, ideally only a few pages in length. It introduces the concept of ethics and compliance and provides an overview of what you mean when you talk about ethical business conduct.”

As shown in Document A, reformers sought to break up large companies that controlled their area of competition, such as the Standard Oil monopoly on oil fields. However, the way at which they were picked was to organize them into good or bad trusts. The way this was done was at the control of the government, thus creating no set standards as to what company trusts to break up to create competition and which ones to keep. Despite the indecision, this was somewhat successful. As the Clayton Antitrust Act states (Document E), “... it shall be unlawful for any person engaged in commerce, in the course of such commerce, either directly or indirectly to discriminate in price between different purchasers of commodities which commodities are sold for use, consumption, or resale in the United States…”, meaning that women, and other minorities could buy the same items for the same price of others at any store in

In all circumstances, employees’ professional judgement will be exercised and for the vast majority of employees this Code of Conduct will serve only to confirm what has always been their practice. If employees have any doubts about points in this Code of Conduct, or how they should act in particular circumstances, they would consult with the Headteacher.

We found that although a code of conduct, ethics hotline, and newsletter exist, none were consistently used, enforced, or reinforced by company employees or management. For example, upon joining the company, employees must sign a code of conduct; however, management has not made a sustained effort to implement or reinforce the code.

A company has a future because it provides an important means of knowledge generation. According to Brown and Duguid (1998), it plays an important role in the development and circulation of complex knowledge in society. Grant (1996) introduces four mechanisms for integrating specialized knowledge as above:

First Energy prides itself on the ethical standards it has created. These standards are the basis that builds upon the trust between customers, shareholders, employees, and the surrounding communities. First Energy encompasses more than five states and supplies millions of customers. As a service company, First Energy expects its employees to adhere to a workplace free of harassment, unethical or unlawful business activities, and discrimination. Each employee must conduct him or herself accordingly with high ethical standards while conversing with customers, other employees, and First Energy suppliers. These standards

Section 1 of the Sherman Antitrust Act prohibits the efforts of multiple firms to restrain trade by controlling prices and supply in a market (46 Case W. Res. 1033). In terms of a professional sports league, a

The purpose of antitrust laws is to both promote and protect competition. They aren’t designed to go after big companies simply because they are bigger or more successful than others in their industry. They aren’t anti-market or anti-business. They are intended to be just the opposite, in fact. They are meant to promote successful market economics through the assurance of healthy competition while keeping abuses of the system in check that could overrun the market.

Accounting and management are the major pillars of an organization that contributes to the country’s economy. Introduction of AICPA Code of Professional Conduct helps in controlling the business operation especially in the accounting and management departments. Accounting and management fraud have been experienced whereby through corruption or other means, entrusted managers and accountants tend to be selfish in undertaking their duties. These factors are well addressed by the AICPA Code of Professional Conduct principles. Therefore, the study seeks to introduce two case studies whereby the management fraud have been experienced. Furthermore, the study will incorporate the use of AICPA Code of Professional Conduct in controlling the situation to ensure harmonious business operation in the management.

A code of conduct and a statement of formal statements describe and explain what an organization expects from its employees and a code of ethics generally consists of statements that serve as principles and basis for rules of conduct. Leaders and managers must be role models for organizational success. If employees see leaders and management demonstrating the organizational values then it adds to the commitment and credibility of leadership and reinforces the importance of the organization’s values which leads to employees who are more engaged and committed to the organization. Also turnover among employees tends to be lower and productivity tends to be high. On the other hand, if leadership demonstrates behavior that is inconsistent with the code of conduct then a negative message is sent to the employees. Therefore, employees may disengage and compromise company standards as seen in the

Codes of conduct are policies including rules such as maintaining honesty, attitude, and respect (Traveler, 2009) for co-workers, the organization and customers. Only by separation of personal ethical choices in the work place, will an organization succeed and flourish. It is never appropriate for any employee, management or otherwise, to conduct business for personal gain. The people who become harmed lose trust, confidence, and the expectation of themselves and of the people who chose to put their personal ethical choice before the needs of the customer and business.