Improvements to Ethical Corporate Evaluation - Assignment Example

Improvements to Ethical Corporate Evaluation Each and every ethical corporate evaluation process requires revision once in a while to ensure that they are able to perform the functions that they have been constructed to address. These improvements are made to better the evaluation process in order to run a tighter ship. While implementing these changes, I would start by improving on communication and education of the employees. This is meant to promote policies and standards that include addressing the code of conduct in business ethics and compliance to requirements by employees.

Improved communication and education can help improve the evaluation process. I would also define the standards of procedures that are to be used in the corporate compliance program (Hasnas 54). They could range anywhere from the code of ethics to the internal controls for prime risk areas. A quicker response to problems that border the element of criminal conduct should be implemented as well as instituting limitations in order to prevent parallel occurrences.Ethical Problems in the Wall Street JournalThere are a number of cases that can be considered to be unethical when it come to business issues.

These include:1. Misrepresentation: this happens when a company or individual makes a claim that is false to a client with the intent to benefit financially from the client2. Fraud: this is using individual influence to get away with the property of another individual. Fraudulent cases often involve the deception of clients into investing their money into places where it will not return.3. Cheating: as per the term, this element involves an individual or company making false statements to the intended client in order to get them to invest their money into their businesses.

Many fortune 500 company officials are in jail for cheating.4. Violation of workers’ rights: this is an issue that has been noticed in a majority of companies. This happens when the employees in a company are treated unfairly in a manner that is not in accordance to the rules and regulations of the company.5. Ignoring health, safety and environmental issues: this is a major ethical issue that has to be addressed. These conditions could result in injury or causing sickness to one or more of the employees working in an area which has not had its health, safety, and environmental issues checked.6. Labour conditions: some of the issues affecting labour conditions are the employment of child laborers.

This is an ethical problem that goes beyond the humanitarian bracket. Use of child laborers id unethical and is punishable by law.7. Corruption: this is an ethical concern that has been constantly addressed, but has failed to heed the call. Corruption involves the taking part in unlawful business dealings that often includes the aspect of bribery to facilitate the execution of a business deal. 8. Homosexuality and gay marriage: this issue has become a constantly talked about subject in the Wall Street Journal today.9. Confidentiality: the confidentiality clause in any business dealing requires that the discussions held by the client with the businessman remain a secret.

This clause prevents the subletting of vital information to other parties. Some individuals still share these kinds of information with others thus making it become an ethical issue.10. Transparency: companies are supposed to be transparent in the dealings they make. This information should be open for anyone who would like to know about it. Withholding such kinds of information could lead to ethical problems.The Benefit of EthicsThere are numerous benefits to applying ethics and code of conduct to the working environment.

Practicing business ethics could lead to the development of personal accountability by the working staff in the business. It could lead to the prevention of other ethical problems in the future when they are addressed properly (Hasnas 63). Another benefit of ethics in business is the fact that it lead to the development of a peaceful working environment.Work CitedHasnas, J. Trapped: When acting ethically is against the law. Washington DC: Cato Institute. 2005.