Question

In: Accounting

identify one organization policy document that aid it's goal and strength and weaknesses of the policy...

identify one organization policy document that aid it's goal and strength and weaknesses of the policy document

Expert Solution

Code of Ethics is one among different organizations policies.

Development of organisations policy is important for smooth and efficient running of business. Policy document specifies the rules, guidlines that organization employees required to follow. Policy refers to values and ethics.

Policy document helps to organisation to achieve it's goals reduce the liabilities and risk.

Code of ethics plays a major role in long term success of business. Development of culture, ethical behavior aids in achievement of goal. How ethics aid for goal and strength of the organization

1. Ethics is a code of conduct, means how to behave in organization environment, that helps to maintain discipline.

2. Ethics is about what is right or wrong, with the help of this organization employee can differentiate right or wrong that helps to long term success.

3. Ethical behaviour helps in setting employee performance goal.

4. It helps to find truth when their is an error.

5. Code of ethics consistently build credibility.

4. It recognize employees who worked hard and deserving.

5. Creates an ethical organization ,means an ethical organization where everybody is treated with dignity.

6. Produce results and records that is more accurate.

7. Employees perform better if they are prepared with the organization policies.

8. Code of ethics builds trust among all stakeholders.

9. Organization values increases in the business environment.

Weaknesses

1. In many cases it dose not address the business activities.

2. It is not effectively linked with concept of business activity.

3. Facts of the business are not addressed by ethical policy

4. It dose not provide for how to bear business challenges.

5. Lack of profit maximisation strategy.

6. It requires comprehensive support of top management.

ekkarill92 answered 2 years ago

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