In: Finance
Ethics as Organizational Culture PowerPoint presentation. To the best of your ability, use the questions in Table 5.1 and Table 5.2 of your course text to help you conduct an audit of the formal and informal systems in your current or prior organization. Additionally, address the following questions:
Does your organization address ethical issues in a formal, systematic way?
If so, is it a cookie cutter, one-size-fits all approach?
Has the organization customized an ethical culture to match its unique needs? Please explain in detail
1) Does your organization address ethical issues in a formal, systematic way?
When looking at how an organization addresses ethical issues, we must take into account what kind of organization we are evaluating. When evaluating an organization, we must take into consideration the size of the organization. In my experience, if we take a look at a large organization that has a lot of employees, they will probably have a predetermined set of steps and rules to follow when dealing with an ethical issue. This is due to the fact of having so many employees, it make it easier for the human resources department to have a systematic approach that covers everyone within the organization.
When i worked for a small firm, there was no system in place whatsoever, and in most cases raising a complaint would lead to cross talk within the firm, which is why most people would not raise any such issues
But as opposed when I worked for a large organization, the entire process was well thought of and stream lined which encourage people to raise issues
If so, is it a cookie cutter, one-size-fits all approach?
A one size fits all solution rarely works for solving problems, because companies differ in terms of scale, size, culture, infrastructure, etc.
Each company must plan around its limitations by eventually come up with a solution that allows people to raise and tackle ethicial issues in a constructive manner, as long as that is done, the firm will always stand to prosper
Has the organization customized an ethical culture to match its unique needs? Please explain in detail
Culture exists in the space between what an organization professes and what it does
While corporate culture can be reflective of the core values of a company, this usually only occurs only if the company operationalizes those values throughout the organization.
I will take an example of a financial firm, which is highly regulated by the concept of a "Chinese Wall"
A chinese wall is this imaginary line, which does not allow information to flow from the "private side"to the "public side"
So many financial companies, create a culture where it not encouraged to talk to people from other divisions as it could create ethicial issues with compliance.
So that is an example of how company has altered the culture to meet ethical standards