ENTP 3301 Chapter Notes - Chapter 7: Taxpayer Identification Number, Employer Identification Number, Entp
9 Sep 2016
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Initial ethical and legal issues facing a new firm. Legal: avoiding social security payments for independent contractors, hiring only experienced help. Illegal: preempting potential competition with prices below costs, agreeing to divide a market with rivals. Public companies comply with securities and exchange commission (sec) Establishing a strong ethical cultural for the firm: lead by example. ***most important thing to establish a strong ethical culture. Leaders who intentionally make ethics a part of their daily conversations and decision making. Supervisors who emphasize integrity when working with their direct reports. Peers who encourage each other to act ethically: establish a code of conduct. Code of conduct code of ethics formal statement of an organization"s values on certain ethical and social issues. Advantage: provide specific guidance to managers and employees: implement an ethics training program. Firms also use ethics training programs to promote ethical behavior.
