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StrandRidge.com Business Updates
Sunday, September 25, 2005
CORPORATE CONDUCT
THE CODE OF CORPORATE ETHICAL CONDUCT
A Global Productivity Tool!
An effective Code of Corporate Ethical Conduct (Code of Conduct) seeks to shape corporate culture and organisational behaviour through the setting of clear guidelines on right and wrong action for the directors, managers and staff in a company thereby improving work attitude. The challenge is to prevent corporate wrongs from destroying companies.
A point to ponder on is the fact that corporate scandals from the East India Company to Barings, Enron and beyond have essentially been about failures of human conduct and hence ethics. So, a critical component of management in a global economy must be internal regulation within the corporation utilising a Code of Conduct. The board of directors is the first line of regulation for a company and the Code of Conduct is an instrument for regulation.
A Code of Conduct can be an effective instrument for productivity and the promotion of consumer confidence. It is people motivated with passion for productivity that generates profits and creates a prosperous company and community.
Topics that are covered in an effective Code of Conduct include:
Corporate Governance
Directors, managers, officers, agents and staff of the Company must always act in the best interest of the Company.
Standards of Ethical Conduct
Integrity must be the underlying factor in all internal and external transactions and relationships.
Corporate Communications and Records Retention
An employee shall assume that all communication to, with, for and on behalf of the Company are the property of the Company.
Liabilities in Sales Transactions
All representations made to outside parties by employees in reference to products must be in compliance with the company’s information on the product.
Duty of Care
To avoid negligence all duties must be carried out with care in accordance with acceptable standards under the law.
Violations and Reporting Procedure
There must be a procedure for employees to report known or suspected work-related events of a questionable, fraudulent, or dishonest nature. The company cannot retaliate against any employee who reports such an event and must keep such reports confidential.
A Code of Conduct helps the company to manage legal compliance and achieve the desired work culture across the company.
The five critical elements for an effective Code of Conduct are:
1. It must reflect legally sound advice.
2. There must be monitoring of acceptance by staff.
3. There must be a procedure of reporting to the board of directors.
4. It must be in plain business English with appropriate language translations.
5. It must be implemented throughout the company.
To be truly effective, it is extremely important that the Code of Conduct be written in a way that allows all staff to understand what is required from them. It should be in a style that projects a world class corporate culture.
Such a Code of Conduct when reflected in the annual report can have a positive impact on share value.
Siddha Param
Corporate Consultant
E-mail: siddhanet@yahoo.co.uk
Author:
The Code of Corporate Compliance and Ethical Conduct
– Frequently Asked Questions
Published by CMI Consulting Sdn. Bhd.
First Edition 2005
ISBN 983-42564-0-X
A Global Productivity Tool!
An effective Code of Corporate Ethical Conduct (Code of Conduct) seeks to shape corporate culture and organisational behaviour through the setting of clear guidelines on right and wrong action for the directors, managers and staff in a company thereby improving work attitude. The challenge is to prevent corporate wrongs from destroying companies.
A point to ponder on is the fact that corporate scandals from the East India Company to Barings, Enron and beyond have essentially been about failures of human conduct and hence ethics. So, a critical component of management in a global economy must be internal regulation within the corporation utilising a Code of Conduct. The board of directors is the first line of regulation for a company and the Code of Conduct is an instrument for regulation.
A Code of Conduct can be an effective instrument for productivity and the promotion of consumer confidence. It is people motivated with passion for productivity that generates profits and creates a prosperous company and community.
Topics that are covered in an effective Code of Conduct include:
Corporate Governance
Directors, managers, officers, agents and staff of the Company must always act in the best interest of the Company.
Standards of Ethical Conduct
Integrity must be the underlying factor in all internal and external transactions and relationships.
Corporate Communications and Records Retention
An employee shall assume that all communication to, with, for and on behalf of the Company are the property of the Company.
Liabilities in Sales Transactions
All representations made to outside parties by employees in reference to products must be in compliance with the company’s information on the product.
Duty of Care
To avoid negligence all duties must be carried out with care in accordance with acceptable standards under the law.
Violations and Reporting Procedure
There must be a procedure for employees to report known or suspected work-related events of a questionable, fraudulent, or dishonest nature. The company cannot retaliate against any employee who reports such an event and must keep such reports confidential.
A Code of Conduct helps the company to manage legal compliance and achieve the desired work culture across the company.
The five critical elements for an effective Code of Conduct are:
1. It must reflect legally sound advice.
2. There must be monitoring of acceptance by staff.
3. There must be a procedure of reporting to the board of directors.
4. It must be in plain business English with appropriate language translations.
5. It must be implemented throughout the company.
To be truly effective, it is extremely important that the Code of Conduct be written in a way that allows all staff to understand what is required from them. It should be in a style that projects a world class corporate culture.
Such a Code of Conduct when reflected in the annual report can have a positive impact on share value.
Siddha Param
Corporate Consultant
E-mail: siddhanet@yahoo.co.uk
Author:
The Code of Corporate Compliance and Ethical Conduct
– Frequently Asked Questions
Published by CMI Consulting Sdn. Bhd.
First Edition 2005
ISBN 983-42564-0-X
Wednesday, July 13, 2005
CONTROL your ASSETS
Preparing Wills & Trust
Do you have a will?
Have you created a trust for your property and assets?
Have you signed any guarantees or documents that expose family property or assets to RISK?
Wills
By making a Will you shall have the ability to decide on how your money, possessions and property are to be divided after your death. A Will also allows you to provide for the care and well-being of children and/or other dependants.
Making a Will enables you to:
Choose just how your property and assets will be distributed after your death.
Appoint a person you know and trust to act as the executor of your estate.
Donate specific things or articles to relatives, friends or charities.
Nominate guardians for any children who may not have reached the age of majority at the time of your death.
Trusts
Trust instruments are generally created to provide for the continuing needs of a spouse, children, grandchildren and/or other dependant relatives.
Siddha Param
Corporate Consultant
siddhanet@yahoo.co.uk
Do you have a will?
Have you created a trust for your property and assets?
Have you signed any guarantees or documents that expose family property or assets to RISK?
Wills
By making a Will you shall have the ability to decide on how your money, possessions and property are to be divided after your death. A Will also allows you to provide for the care and well-being of children and/or other dependants.
Making a Will enables you to:
Choose just how your property and assets will be distributed after your death.
Appoint a person you know and trust to act as the executor of your estate.
Donate specific things or articles to relatives, friends or charities.
Nominate guardians for any children who may not have reached the age of majority at the time of your death.
Trusts
Trust instruments are generally created to provide for the continuing needs of a spouse, children, grandchildren and/or other dependant relatives.
Siddha Param
Corporate Consultant
siddhanet@yahoo.co.uk
Thursday, July 07, 2005
Maximising The Profit Potential Of Your Intellectual Assets
Protect and capitalize on your Branding and Intellectual property.
Protect and capitalize on your Branding and Intellectual property.
BRANDING
To maximise the potential of your brand name, a clear branding strategy is essential.
Step 1 Identify the businesses intellectual assets.
Step 2 Protect these intellectual assets utilizing the law.
Step 3 Exploit the commercial advantage of your intellectual asset through:
- Licensing;
- Merchandising; and,
- Franchising
in the local and global markets.
The success of a strong brand requires a policy for safeguarding the intellectual asset, dealing with brand disputes and parallel imports.
PROTECTING INTELLECTUAL PROPERTY
Intellectual Property Rights include:
- Inventions;
- Designs;
- A company or business name or trading name;
- A logo;
- Brand name;
- Marketing material;
- Content or design of a Web site, domain names, software; and,
- Content of documents or databases.
Protecting these assets could protect a competitive edge which a business has gained, or could maximise the asset value of the business. This could contribute towards raising financial capital more easily.
Siddha Param,
Corporate Consultant
Wednesday, July 06, 2005
Friday, June 24, 2005
Boutique Boardroom Consultant
CODE OF CORPORATE COMPLIANCE
AND ETHICAL CONDUCT
Your global productivity tool!
THINK ABOUT THIS:
Swiss chocolates come from a country that produces no cocoa. It is human attitude that creates success. The company is merely a vehicle. So watch the driver, not just the vehicle!
To succeed in the global economy it is vital to stay current with changes in international law and business practices. Issues that have to be addressed include; Standards of Ethical Business Conduct; Communications and Records; and, Corporate Governance
To succeed your organization must:
1. Prepare a CODE OF CORPORATE COMPLIANCE AND ETHICAL CONDUCT;
2. Implement the Code through a series of tailored Luncheon Talks, Tea Talks and Training Programmes for the Board of Directors, Managers, and Key Personnel; and,
3. Design, implement and maintain a “Corporate Compliance Solution Software”.
The Code should set out all compliance and ethics issues and act as a consolidating document that brings together and reconciles the various organisational documents and handbooks affecting behaviour and conduct such as:
i) Corporate and Business Objectives of the Company;
ii) Contractual obligations under contracts;
iii) Corporate Governance issues;
iv) Employee Handbook;
v) Operations Manuals;
vi) Legal requirements;
vii) ISO Certification;
viii) Safety Policy;
The Code can act as an effective tool to motivate productivity and ensure an organizational behaviour that reflects the corporate culture, business objectives and good corporate governance practices of the company as set out by the Board of Directors and reflected in the company’s annual report.
The above corporate practice reflected in the Annual Report can have a positive impact on share value.
Siddha Param,
LL. B. (Hons.) (London) CLP (M)
Corporate Consultant
siddhanet@yahoo.co.uk
AND ETHICAL CONDUCT
Your global productivity tool!
THINK ABOUT THIS:
Swiss chocolates come from a country that produces no cocoa. It is human attitude that creates success. The company is merely a vehicle. So watch the driver, not just the vehicle!
To succeed in the global economy it is vital to stay current with changes in international law and business practices. Issues that have to be addressed include; Standards of Ethical Business Conduct; Communications and Records; and, Corporate Governance
To succeed your organization must:
1. Prepare a CODE OF CORPORATE COMPLIANCE AND ETHICAL CONDUCT;
2. Implement the Code through a series of tailored Luncheon Talks, Tea Talks and Training Programmes for the Board of Directors, Managers, and Key Personnel; and,
3. Design, implement and maintain a “Corporate Compliance Solution Software”.
The Code should set out all compliance and ethics issues and act as a consolidating document that brings together and reconciles the various organisational documents and handbooks affecting behaviour and conduct such as:
i) Corporate and Business Objectives of the Company;
ii) Contractual obligations under contracts;
iii) Corporate Governance issues;
iv) Employee Handbook;
v) Operations Manuals;
vi) Legal requirements;
vii) ISO Certification;
viii) Safety Policy;
The Code can act as an effective tool to motivate productivity and ensure an organizational behaviour that reflects the corporate culture, business objectives and good corporate governance practices of the company as set out by the Board of Directors and reflected in the company’s annual report.
The above corporate practice reflected in the Annual Report can have a positive impact on share value.
Siddha Param,
LL. B. (Hons.) (London) CLP (M)
Corporate Consultant
siddhanet@yahoo.co.uk
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