Asked by Kaylee Greydanus on Jun 16, 2024
Verified
Most firms that experience ethical or legal problems actually have a code of conduct or an ethical compliance program in place. Why is it that these firms can still have ethical problems despite having a code of ethics or compliance program?
A) Their codes typically don't cover high risk issues.
B) Their codes are typically written by consultants outside the firm.
C) Their codes are typically not integrated into daily decision making.
D) Their codes are written with no input from employees or customers.
E) Their codes are mandated by regulation rather than originating from within the firm.
Ethical Compliance Program
A formal plan within an organization designed to prevent violations of law or company policies, often focusing on moral business practices and legal compliance.
Code Of Conduct
A set of rules outlining the social norms, responsibilities, and proper practices for an individual, party or organization.
Daily Decision Making
The process of making choices or judgements every day in both personal and professional contexts, often involving problem-solving and prioritization.
- Identify the value of ethical codes and how they contribute to maintaining ethical standards in companies.
Verified Answer
Learning Objectives
- Identify the value of ethical codes and how they contribute to maintaining ethical standards in companies.
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