Case Study:-Code of Ethics in Buisness Organization - Corporate Culture 2nd SENESTER (2021-2025) Branch-Cse1 Submitted To: - Mrs. Kaushal Sharma
Case Study:-Code of Ethics in Buisness Organization - Corporate Culture 2nd SENESTER (2021-2025) Branch-Cse1 Submitted To: - Mrs. Kaushal Sharma
Case Study:-Code of Ethics in Buisness Organization - Corporate Culture 2nd SENESTER (2021-2025) Branch-Cse1 Submitted To: - Mrs. Kaushal Sharma
Business ethics is the study of business activities, business policies, ethical principles, business situations and
problems that take place in the business. It is a study where issues of right and wrong are discussed.
While conducting business, traders often try to generate the highest possible returns. Similarly, landlords try to
increase their earning from house property and workers demand a higher wage. However, these actions cannot
be considered unethical or illegal provided they do not transcend the payment norms set by peer business
houses and trades.
Business profits refer to the wages received by proprietors in return of the invested capital and this is why it is
imperative to include business profits within the boundary of ethics. Business world comprises an important
aspect of our society which is concerned with the standard of living of people.
Why is Organizational Culture Important?
When you win in culture, you win everywhere. Let’s take a look at eight
reasons why organizational culture is important.
Increased employee engagement
Decreased turnover
Strong brand identity
Elevated productivity
Transformational power
Top performers
Effective onboarding
1. Healthy team environment
1. Increased employee engagement
• A work environment that possesses organizational culture is driven by
purpose and clear expectations. This motivates and inspires
employees to be more engaged in their work duties and interactions
with others. It also leads to high levels of workforce engagement,
which drives productivity. Having a strong connection to an
organization and its people creates an atmosphere of positivity that is
hard to ignore.
2. Decreased turnover
• People who feel valued and respected at a company are less likely to
leave it. That’s why it’s essential for brands to foster a winning
organizational culture that supports their core values and mission
statement. Happy employees mean less turnover, which saves
companies time and money in the hiring process. Companies that
achieve a strong culture must take steps to maintain and improve it.
3. Elevated productivity
• When employees have the resources and tools they need to succeed,
it helps increase productivity and performance levels overall.
Organizational culture impacts the structure of a workplace in ways
that bring people of the same skill set together. Those who share
similar backgrounds and skills may work more quickly together when
tackling company projects.
4. Strong brand identity
• A company’s organizational culture represents its public image and
reputation. People make assumptions about businesses based on
their interactions within and outside of the company. If it lacks
organizational culture or has a weak image, customers may hesitate
to do business with anyone who is associated with the brand.
Businesses with a strong brand identity tend to attract more business
and job candidates with similar values who support their mission.
5. Transformational power
• Not all businesses have the power to transform ordinary employees
into total brand advocates, but those with a strong organizational
culture do. Companies that recognize their employees’ efforts and
celebrate team successes are more likely to notice a change in
employees as they experience a sense of accomplishment.
6. Top performers
• Companies that promote community in the workplace are more likely
to retain their best employees. People who are great at their jobs and
know the value of their skills commonly leave negative work
environments where they feel undermined and unappreciated.
Organizational culture builds a high-performance culture that
strengthens the work of people within the company, resulting in a
positive employee experience overall.
7. Effective onboarding
• More and more, businesses with an organizational culture are relying
on effective onboarding practices to train new hires. Onboarding
practices that include orientation, training and performance
management programs help new employees access the right
resources and better transition into their roles. This promotes
employee longevity and loyalty and reduces the amount of frustration
some employees experience when they don’t have the information
needed to do their job well. Onboarding is a great way for companies
to ensure new hires understand the core values of their business.
8. Healthy team environment
• Organizational culture helps improve workflows and guides the
decision-making process. It also helps teams overcome barriers of
ambiguity. Team members who are informed and knowledgeable
about certain processes are often more motivated to finish projects.
Having a clear culture that unifies employees and promotes organized
work structures helps people work together with purpose.
What is the purpose of organizational
culture?
Culture is the signature style in which you deliver your promise to your
customers, employees, extended channels, partners, and stakeholders.
Over time, that “Hello!” becomes your ‘Halo’ – a hallowed code rivals
can emulate but never copy, an insurance against the market that’s fast
becoming commoditized, and a holy password for employees who
subscribe to the tribe.
Organizational culture statistics that can’t be
missed
↠ 90% of professionals research a
company’s culture before accepting a role.
(Robert Walters).
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.
Common types of business codes of ethics
Codes of ethics can include many different policies. Here are some examples
of common types of codes of ethics in business:
1. Being inclusive
Businesses should welcome people from all backgrounds, and they should not
discriminate against anyone based on a variety of factors, including:
Sex,Race,National Origin, sexual orientation, gender,Social or economic class
Education,Immigration status,Age,Political beliefs,Religion
2. Being considerate and respectful
• People depend on each other to do their best and make the business
they work at successful. When managers and employees make
decisions, they should think about how those decisions could impact
clients and the team as a whole. When people discuss actions and
next steps, they need to focus on what’s best for the company. They
should speak calmly and rationally to make everyone as comfortable
and productive as possible.
3. Acting professionally
• By acting professionally, you can increase your company’s reputation,
reduce turnover and make employees’ jobs less stressful. Make all of
your interactions positive and professional by focusing only on
business-related topics. These rules should apply to your emails and
phone calls as well. When you set a professional example, your
employees will likely follow suit.
4. Considering your actions
• It’s important to think about what you do in the workplace and how it
affects others. Certain actions, like taking personal calls near others,
could distract employees and make it difficult for them to focus. Think
about any rules you may need to add to your code of ethics to
encourage a positive working atmosphere, such as keeping phones on
silent or having meetings in designated areas.
5. Admitting when you make a mistake 6. Avoiding conflicts of interest