Essay Sample on Max Profits: Key to Business Success

The focal point for the establishment of most business organizations is primarily the pursuit of profitability. The accruement of profits is undeniably very gravitas based on the verity that organizations largely depend on profits to expand their operatory and functionality scope as well as to diversify their products or services. However, to achieve and maintain a profitability trend, a company is expected to implement and acclimatize to apropos strategies. More so, in the adoption of pertinent operatory and functionality approaches, a company ought to pay critical attention to the interests of the employees. Notably, employees are the engine of an organization since they are vastly responsible for the growth and operation of a company. Hence, rubberstamping the fundamentality of the code of ethics for human resource management in a company aimed at realizing its full potential. Essentially, the code of ethics for human resource management revolves around the guiding principles assigned to help employees or an organization's workers and professionals to conduct their work in integrity and honesty (Wilcox & Lowry, 2012).

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Even though code of conduct and code of ethics are commonly used terms in the corporate world, several people regularly mistakenly use the terms interchangeably. However, the two terms have different meanings. Code of ethics that is also known as ethical codes denotes a series of principles adopted by an organization with the primary aim of assisting the members of the particular organization to aptly understand the difference between what is right and wrong and to apply the understanding in the making of their decisions (Schumann, 2001). Importantly, also, the code of ethics normally infers documents at three different levels that is the codes of professional practice, the codes of conduct for employees and the codes of business ethics (Schumann, 2001). On the other hand, a code of conduct is the set of rules outlining the rules, norms as well as the responsibilities of proper practices for an individual. Therefore, an organization's code of conduct refers to a set of rules that are commonly written for the organization's employees and which protect the business as well as informing the employees of the expectations of the organization.

Nonetheless, a mission statement is regarded as a lasting statement of purpose primarily aimed at distinguishing an organization from other similar organizations (Wilcox & Lowry, 2012). A policy refers to a standing plan designed to provide general and broad guidelines for directing management thinking towards making decisions and taking actions that are in consistency with the objective of an organization. a procedure is generally the step by step outlining of the relevant activities needed in the fulfillment of a policy. Notably, in the instance a policy is a wide general outline, for more clarity, the procedure is usually designed to be more specific in its approach of achieving the objectives of an organization. Also, some procedures may be relatively detailed and running for several pages whereas others may be relatively short and direct to the precise point (Schumann, 2001).

As per the laws and guidelines relevant to Ingenico1, this Code characterizes a lot of regular business honesty standards for all Employees. Ingenico additionally expects third parties which have a business relationship with Ingenico to apply ethical benchmarks in any event identical to those set out. Specifically, the code; targets guaranteeing that the Group's business is led in a legal way and with uprightness, comprises an assurance of least rights for all employees; and advances a typical corporate culture profiting to investors, Third Parties and Employees.

In comparing my organization's code to others in the same industry several similarities and differences are evident. Some of the similarities include stressing on the critical need to protect employees who voice misconduct in their workstations. The organization's code guides workers toward extra resources they can go to for help such as calling the ethical hotline, conversing with their supervisors, or individuals from the HR or E&C groups, and so on. Best practice sets of accepted rules obviously communicate that workers who report conceivable unfortunate behavior or pose inquiries will be protected and emphasize the verity that acts of reprisal are demonstrations of offense that could bring about disciplinary measures and even dismissal.

The other similarity is alignment to the organization's risk profile. A best practice for any set of accepted rules incorporates making it applicable and complete given an organization's industry and worldwide risk profile. Hazard profiles are not static. In all organizations, there is teaming up with different divisions association to guarantee that the code of conduct addresses those issues that are generally significant (Wilcox & Lowry, 2012).

Nevertheless, the difference in my organization's code to others in the same industry its failure to incorporate emerging issues. The world is evolving rapidly, and codes need to change with the pace of the world. For instance, it may be difficult to recall, however only a couple of years prior, web-based social networking hazards were not a worry to most organizations and was likely not tended to in their code of conduct. Illegal tax avoidance used to be something just financial related associations needed to stress over (Schumann, 2001). However, these issues currently need to be canvassed in the code of conduct in numerous assorted associations.

The world is characterized by an almost immeasurable pace of technological developmmnet and modernity progression. Consequently, it is a fundamental prerequisite for codes to be reviewed periodically and also revised to provide them with the knack to reflect current goals and objectives. All codes can indeed be improved upon, therefore, to strengthen the code one way is improving its readability. For example, workers who need a quick answer may feel confounded and disappointed if they are unable to comprehend what it says; a typical issue when an advisory group of legal counselors does most of the entirety of the composition of the codes. It is particularly critical to unmistakably depict how employees can pose inquiries or burning issues, that ought to be generally through the helpline or hotline (Wilcox & Lowry, 2012). Consider how the configuration impacts the codes clarity also. Short sections are a lot simpler to peruse than long ones.

The other way of strengthening the codes is through incorporating emerging issues. As briefly described above, the modern epoch is immersed in a rapidly changing world. Hence, to stay at par with the needs of the modern world, it is an imperative prerequisite for codes to equally change with pace of the world. The previously uncovered issues such as money laundering, cyber bullying, social media risks all need to be incorporated in the codes (Schumann, 2001).

References

Schumann, P. L. (2001). A moral principles framework for human resource management ethics. Human Resource Management Review, 11(1-2), 93-111. https://doi.org/10.1016/s1053-4822(00)00042-5

Wilcox, T., & Lowry, D. (2012). Human resource management and ethics. Human Resource Management in a Global Context, 98-124. https://doi.org/10.1007/978-0-230-35885-0_6