MGMT-201 Chapter Notes - Chapter 5: Chartered Financial Analyst, Egotism
17 Jan 2016
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A blend of ideas, customs, traditions, values, shared meanings that help define normal behavior for the company. The unspoken understanding of what is acceptable behavior. Leads to ethical challenges related to those functional areas. Professional ethical standards clash with company"s interior ethical standards. American institute of certified public accountants code of professional. Necessary to change the culture so ethics is part of everyday decisions. Emphasize threat of detection and punishment to promote behavior. Combine concern for law with emphasis on employee responsibility. Employees instructed to act with integrity and conduct business honestly. Top management commitment is critical to fostering employee ethical behavior. Provide guidance on what to do when faced with ethical dilemmas. Must be widely distributed and have associated training to work. Company must provide interpretations of proper ethical behavior. Proven to be effective in promoting ethical behavior. Laws are a formal version of ethical standards. Often applies to areas not covered by laws.
