Responsibilities of a Business Firm Term Paper

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Integrating the value of the code of ethics to the entire company can indeed help to prevent some unethical behaviors and that safeguards the company's corporate reputation (Vitell, 2006). Having the code of ethics in place, no matter how much employees are actually acting upon it, helps the company's external perceptions. The company can highlight this when trying to get a foot ahead of competition, and although small, it can give the needed advantage. When customers or other companies are deciding to do business with a new company, they will want to work with a company that has the perception of good ethics, and having a code of ethics in place gives that perception they are looking for.

Overall having an official code of ethics for a company is an immensely important business practice, regardless if employees are using it as they should.

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It is so important that you will often see companies hiring fulltime ethics officers to help train and enforce the rules and principles that are within the code of ethics. Employees should be paying close attention to their company's code of ethics, but it is known that they rarely do this. In the above, two reasons for companies to have a code of ethics, even though employees are not using them, was given. These two reasons were to protect the company from legal recourse and an improved external reputation for the company. These two reasons are only some of the reasons companies should have a code of ethics in place, there are many more factors that come into play as to why companies value their code of ethics......

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