Business and Society

Topics: Ethics, Business ethics, Business Pages: 5 (1613 words) Published: June 23, 2013
Dennis Crump Jr.

Business 475-Business and Society

Week 8 Assignment 2

Professor Vincent Fordiani

March 3, 2013

Briefly describe your company and then benchmark the codes of conduct used by similar companies in the industry. Critique the codes of conduct of at least three (3) similar companies in order to write codes for your company.

My company is a medium sized insurance company (Cotton State Insurance). Our goal is to protect what you have with your desire to build for the future. The company specializes in insurance, investments, and financial security. The Insurance offered are auto, home and renters, life, commercial, annuities. The investments that we offer are mutual funds, trust, retirement, education, business retirement. A company similar in the industry to mine is Mass Mutual. Their code of conduct is as follows Focus on the Customer

Know your customers well; add value with a sense of urgency Act with Integrity
be trustworthy, adhere to high ethical standards, adhere to the letter and spirit of applicable laws, rules, regulations and company policies Value People
Lead people to success; appreciate diverse backgrounds, ideas and experiences Work Collaboratively
Partner with others to achieve results that leverage the right resources Achieve Results
Focus on winning; consistently exceed expectations, beat the competition The next company I looked at would be national western life. Their code of conduct is as follows: Honest and ethical conduct;

Full, fair, accurate, timely, and understandable disclosure in reports and documents That are filed with, or submitted to, the Securities and Exchange Commission (SEC) and In other public communications made by the Company;

Compliance with applicable governmental laws, rules, and regulations; Prompt internal reporting to an appropriate person, identified herein, of violations of The Code.
Accountability for breaches of the Code.
The three company’s code of conducts I will be critiquing is State Farm, Travelers, and Hanover insurance companies. The first company Hanover had a rather impressive display for their company code of conduct. Unfair business practices, insider trading, policy on financial integrity and good business practices just to name a few. Hanover looks to improve the employee not just the company. Travelers are quite the same as Hanover. Travelers have a letter to employees about its expectations and the way to conduct themselves. They then go into the legal laws of the industry and how to conduct should be toward customers. State Farms was quite the same as the others. The entire industry has to adhere to the same laws and rules. The difference in the company’s policy is catering to employee or customers or both. Analyze ways ethical challenges affect your business and create a code of conduct for your company. Provide a rationale on how these specific codes enhance your company’s ethics program. High ethical standards require both businesses and individuals to conform to sound moral principles. Business ethics comprises the principles and standards that guide behavior in the world of business. Culture does affect ethical standards and shape business behavior in the world of business. High ethical standards require both businesses and individuals of the company to conform to moral principles. Company ethics ensures the principles and standards that provide a model of behavior in the world of business. Culture does affect ethical standards. My company having a code of conduct for cultural differences will ensure and protect the company from any wrong doings by the employee or the business. Accepting cultural religious holidays will be in our code of conduct policy. Respecting religious rituals and prayer times will be allowed and expected to be accepted by...
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