Week 8 Discussion - Research Paper Example

Week 8 Discussion Week 8 Discussion Question one Every successful organization recognizes compliance plan as a crucial document that contributes to its success. For an organization to be effective, the compliance plan must be an integral part of the organization. However, this means that, the plan cannot remain dormant till the time it is recommended by the auditor or is consulted only during times of code violation. Therefore, active application of compliance plan on a day to day basis can be achieved.

This will aid in reduction of statutory violations, mitigate against any consequences that may arise as a result of the breach and more importantly, serve as a proof that the company is fully compliant with all applicable rules and regulations (Charlette, 1996). Basically, compliance starts with day to day compliance at the organizational level. The following are some of the benefits that accrue to an organization that implements an effective compliance program: 1) Good faith efforts in following the set rules and regulations whereby every organization that adheres to a compliance plan gives a good example of its efforts in compliance with set rules and regulations. 2) Sentencing guidelines whereby, if the government decides to sue a company for criminal offences, then a good record of compliance can act favorably for the company defense. 3) Proactive approach, whereby a company that voluntarily adheres to the compliance program portrays a good picture of both regulatory and statutory compliance.

Every organization based in US and with a strong reputation for integrity and honesty must be fully compliant with the set plan. Therefore, such an organization must have a compliance plan within which to operate in pursuance of the organizational objectives. Further, such a plan could help an organization with investments across the borders to successfully conduct its business, therefore, not only the employees of local branches, but also those of foreign should comply with the set out procedures to ensure the overall success of the organization.

Question two As one of the largest energy companies, ExxonMobil have indicated on their website that environmental issues are of great concern. Further, by calling for extra vigilance to ensure environmental safety and protection, they remind us of the tragic incident of deepwater horizon, which led to massive oil spill (Engel, 1979). From their website, it is evident that the company has put in place measures that guarantee safety in their operations, emergency preparedness, environmental protection and management of climate change.

More importantly, Exxon has a policy of placing its investments on projects that have strategic goals and ones that align with both social and global priorities. Through this, the company seeks to have a meaningful impact by redirecting part of its revenues to regions where they operate. Total is another company in the energy sector. In its website, some of its main challenges are preservation of the environment, ethical business conduct and issues to do with human safety and health. However, the company says that it has put in place firm measures that ensure production of fossil fuels with very low carbon energy to minimize greenhouse gas emissions.

Further, its website shows that it is within the company’s interest to ensure safety and protection, not only for their employees, but also people within its locality. Finally, Total conducts its business based on the foundation of bedrock principles and values set out in their code of conduct. The code details the principles to be complied with when dealing with all stakeholders and the behaviors expected from its employees. In conclusion, both companies have ethical code of conduct and practices corporate social responsibility.

This is a good sign of corporate maturity, and it is encouraging to see that organizations mind the environment within which they operate as evidenced through their effort to conserve the environment and also giving back to the community within which they exist. Therefore, as an investor or a creditor, I would prefer to invest or do business with ethical and socially responsible organizations. ReferencesCharlette A. G. (1996). Public Expectations and Corporate Strategy. Corporate Environmental Strategy, 33(3), 56-65.Engel, D.L. (1979). An Approach to Corporate Responsibility.

Stanford Law Review, 32(5), 1- 98.