Question

What are the drawbacks to codes of ethics or conduct?
Is it possible or feasible to train managers in ethics?

Answer 1

The code of ethics refer to the set of rules which define how the people involved in a certain company should interact with the clients and it defines the principles for conducting business in general. The drawbacks to code of ethics are that the profitability of the firm gets affected because ethics place the customers before the business. It requires a lot of investment of time of the management as well as employees.

A professional code of ethics places high and sometimes unattainable goals which creates stress in the workplace.

Yet it is both possible and feasible to train managers in ethics.Managers need to learn the ethics so that they can take it across the organization. It is also feasible since the company can hire trainers to train the managers and employees. The cost is also not very high, however execution must be monitored. There should be a report system where employees can report the violations in confidentiality.