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- QUESTION
This assignment has 3 parts: Please answer all questions.
Ethical behavior is important to the accounting profession as well as the general business environment. Most companies have code of conduct policies and ethical training to ensure all employees understand the company’s behavior expectations and responsibilities.
1. What are the advantages and disadvantages of a company having a formal code of conduct that employees are obligated to follow?
2. What are your thoughts about whether employees should have to participate in mandatory ethical trainings each year?
3. How might having a code of conduct help an employee make decisions when faced with an ethical situation?
| Subject | Business | Pages | 2 | Style | APA |
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Answer
Ethical Code in Accounting
Having a formal code of conduct is featured by several advantages and disadvantages. For instance, the formal code of conduct reinforces a workplace culture that exposes the employees to an environment where they are treated with respect (Root, 2019). Moreover, the code also reinforces the firm’s values. One of the disadvantages related with the formal code of conduct is the high cost associated with the establishment and implementation of the ethics compliance program. Additionally, a likelihood that the principles of code of conduct will clash with the corporate ethics is high hence resulting to confusion among the employees (Root, 2019).
Ethical trainings are important for organizations because they aid in promoting an awareness of the ethical practices required by the firm (Cottrell, 2016). Additionally, the trainings are effective in enhancing the morale of the members of the workforce and guaranteeing that they become more effective in working harmoniously with the co-workers (Cottrell, 2016). Therefore, I believe that employees should be guided to take part in mandatory ethical trainings annually to derive the benefits associated with the training sessions. Also, the trainings should be frequent because of the changes likely to be experienced in the workplace when it comes to ethical requirements and responsibilities.
Having a code of conduct will guide the employees in making an ethical decision when faced by a challenging situation. Notably, the code will present the expectations on how the workers should conduct themselves in difficult situations. Evidently, the code of conduct outlines set of requirements in the form of short codes focused on guiding the employees based on a firm’s provisions. Therefore, when the employee understands the provisions of the code, then he/she will easily identify how to behave as required by the firm rather than personal preferences.
References
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Cottrell, M. (2016). The importance of ethics training programs. Mike Cottrell College of Business. Retrieved from https://blog.ung.edu/mba/the-importance-of-ethics-training-programs/ Root, G. (2019). Advantages & Disadvantages of Ethical Compliance in an Organization. Chron. Retrieved from https://smallbusiness.chron.com/advantages-disadvantages-ethical-compliance-organization-20548.html
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