Create a Code of Ethics and Business Conduct for New Venture. Create a 5 page original code of ethics and business conduct for the new venture you plan to start and manage successfully.
Code of Ethics and Business Conduct
Create a Code of Ethics and Business Conduct for New Venture
Overview
Create a 5 page original code of ethics and business conduct for the new venture you plan to start and manage successfully. Consider key ethical principles and professional issues that you want your leadership approach to embody and support and all of your employees to emulate and follow.
Also examine and address particular industry considerations that could impact the new venture operations (cover in the relevant sections).
Instructions
Use the Code of Ethics and Business Conduct [DOCX] template linked in the Resources to complete this assignment.
These are the key code sections that you must include (these are listed on the template).
Mission Statement.
Venture Values and Ethical Standards.
Compliance with Laws and Regulations.
Duties of Executives and Managers.
Information Confidentiality and Intellectual Property Protection.
Conflicts of Interest.
Note: This assignment must be mostly your own work written in your own words. You are more than welcome to research other companies’ codes of ethics and conduct in order find inspiration and to help you list all of the issues to consider. However, you must write the code mostly in your own words and cite in proper APA in-text citations any information used from other codes or sources.
Formatting Guidelines
Length of paper: Use the template linked in the Resources. The body of your paper must be 5–6 full single-spaced pages, not including the Title (Cover), References list or Appendices.
Written communication: Your paper should demonstrate graduate-level writing skills and should be free of errors that detract from the overall message.
References: Support your paper with at least 3 academic resources from the Capella library. You must use current APA style to list your references. Refer to the Capella Writing Center’s APA Style and Format module for more information.
Formatting: The Code of Ethics and Business Conduct is a professional business document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines, which can be found in the MBA Program Resources in the courseroom navigation panel.
Font and font size: Times New Roman, 12 point.
How to Create a Code of Ethics for Your Business
A code of ethics and professional conduct outlines rules for proper behavior in the workplace — usually based on a company’s core values. It lets employees know how they should behave, and it gives guidance for handling harassment, safety and other issues.
A code of ethics for businesses is usually broader than a code of conduct that discusses how employees should act in specific situations. However, many businesses use one centralized document for a code of ethics and professional conduct.
What is a code of ethics in business?
A business code of ethics, also known as an ethical code, is a set of principles companies provide to employees so they can approach their job with integrity. A code of ethics often includes a company’s core values, ways for employees to resolve problems they encounter and the standards of performance they need to meet.
A company could also list laws and regulations in its code of ethics depending on the industry. For example, a banking organization might list government regulations that employees must follow to perform effectively in their roles.
Why is a business code of ethics important for your company?
Creating a code of ethics for your business is important for the following reasons:
- Explains your expectations: Business codes of ethics outline how you expect your employees to work in order to accomplish goals and live your company’ values. It also provides a framework for how employees need to interact with each other and clients in order to demonstrate a positive public image.
- Showcases the drive for success: List your overall objectives and goals in your code of ethics to give the public and your employees an idea of what you want the future of your company to look like.
- Improves employee retention rates: A commitment to maintaining and building on your company’s culture translates to higher retention rates for current employees. In your code of ethics, discuss how you plan to take care of your employees and explain the methods you’ll take to create stronger bonds between team members.
- Builds trust with external stakeholders: A strong business code of ethics builds trust with industry leaders and local communities. To make a code of ethics generate interest among external stakeholders, create a list of community leaders in your area and research their values.
- Attracts quality candidates who share similar values: An Indeed survey found that 28% of job seekers would reconsider accepting an offer from a company if the company’s mission/vision didn’t resonate with their values — even if the job met all of their other personal requirements and they had a positive interview experience.*
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