Phase 4 Individual Project Essay Example | Topics and Well Written Essays - 1500 words

Phase 4 Individual Project - Essay Example Such ethical standard promotes high standards of integrity and ethical behavior for the benefit of the company instead of an individual. The ethical standards in any business create a fundamental foundation in maintaining public trust, for every ECG member. In the first situation the executive member of ECG violated professional integrity, honesty, objectivity and genuineness while serving in the company. The financial interest disclosure of any member serving as an executive in the company in Government Allies increases the integrity standards in the company’s leadership to all investors. Any person serving in the leadership roles is entitled to show uppermost level of transparency and trust. The shareholders have a lot of expectation in the leadership of the company and if that confidence is not maintained may lead to the migration of the investors. In this case there may be no confidence in the management of the ECG stock after the completion of the initial public offer (IP O) successfully and the acquisition if all executive members and their families does not disclose their financial interest. ... Several lawsuits may also be witnessed due to company employees acting in contrary to ethics that are significant to the organization’s productivity. Professional integrity brings implicit trust of the shareholders interest and more confidence in the management of the company. In the second scenario a team of members of ECG is formed to develop a proposal and give a presentation to X in order to win the contract in Information technology consultancy. One of the members who had worked with the two current executive at X Telco may influence the results of the bids review either negatively or positively depending on the past relationship when working with them. In this situation the composition of the team to participate in the review exercise may have violated the professional relationship code of conduct. This is because the past working relationships may increase the chances to harm the reviewing results or impair the team’s professional judgment. However, in some situa tions it may not be completely feasible to avoid nonprofessional or social contacts between the members in the two companies. Implicit trust is perceived as being an ethical practice in the management of dual relationship in the operations of the organizations. It is supposed to be communicated very clearly down the administrative line before taking the executive roles. The policy that relates to the company’s code of ethics finds its application in this regard (Hoffman &Dawn-Marie, 2002). The code of ethics in any organization should be clearly understood by all employees irrespective of their position in the work place. To enhance this understanding, the management of the ECG has the obligation of training and writing standardized ethical policies down and