Professional Documents
Culture Documents
Business Ethics
Also called corporate ethics. It is a form of applied ethics or professional ethics. Examines ethical and moral principles or ethical problems. Corporate Governance Refers to the blend of law, regulations and voluntary practices. Safeguard the interests of shareholders and other stakeholders.
Values
Honesty: Doing the right thing and telling the truth. Integrity: Living the values in all they do unified approach to how they do business and treat each other. Respect: Valuing opinions, property and perspectives of others. Diversity: Reflecting a workplace that includes a variety of people from different backgrounds and cultures, diversity of opinions and thoughts. Safety: Watching out for others, being secure and safe in a workplace. Inclusion: Voice matters, working together works, encouraging everyones involvement, being the best person one can be.
Corporate Governance
Transparency and accountability are the two basic tenets at HUL. The Code of Business Principles is an extension of the values and reflects the continued commitment to ethical business practices and regulatory compliance. The Board of Directors of the Company are responsible for and committed to sound principles of Corporate Governance. Governance practices are kept under continuous review and benchmark is set.
Compliance structure.
Evaluation of effectiveness.
Conclusion
A company must adhere to the norms and regulations laid by the regulatory bodies. They must comply with the ethical code of conduct of business. Even though the regulatory bodies are operating, cases like SATYAM do happen in the society which hampers the morality of the business. The initiative to adopt ethical code of conduct should be self driven and not due to coercion.