Jennifer Banks-Milbry, William Coon, Shedrick Daniels,
Gene Daughtry, Don Thomas, Victor Williams
February 28, 2011
Disney's Ethic and Compliance Paper
The Walt Disney Company, better known as Disney, represents a premier name in family entertainment worldwide (The Walt Disney Company, 2011). Since the company 1923 beginnings, Disney has become a company with a worldwide market capitalization of more than 82 billion dollars (Google, 2011). Disney is a business that operates in four business segment, consumer products, studio entertainment, media networks, and resort and theme parks. Disney executives have made ethics and compliance a top priority for the company. Learning Team A will given information that talks about Disney’s role of ethic and compliance, procedures used to ensure ethical behavior, SEC regulations, financial performance, and the financial health.
Role of Ethics and Compliance
Disney has a tremendous amount of exposure to ethics and compliance criticism. Millions of consumers patronize the Disney Company, spending billions on the products and services the company offers. Possessing an ethical and compliant reputation is crucial to the Disney Company’s bottom line. The Disney Company maintains a high level of social responsibility. The company trains and guides its employees and cast members through programs like Disney Development Connection, which provides knowledge and training on how to act ethically and legally in compliance with the company’s standards of business conduct (The Walt Disney Company, 2011). The return on the Disney Company investment in ethics and compliance training has paved the way for Disney to be recognized for its success and contributed to decades of profitable operations with minimal exposure to unethical and incompliant behavior. Procedures to Ensure Ethical Behavior
Some of the procedures Disney use to ensure ethical behavior are listed in several steps. Disney has five ethical standards they use to make sure that everyone affiliated with Disney is happy. The first ethical standard of Disney states the Responsibility to Guest and Customers. In this standard, it speaks of the quality and safety that Disney provides to their guests and customers. The second ethical standard of Disney states the Responsibility to Cast Members and Employees. This standard speaks on professional development, safety, diversity, teamwork and communications, and respect for the individual. The third standard is the Responsibility to company and shareholders. This standard deal with conflict of interest, doing business or influencing business relationships with family members and affiliates, and other conflicts. It also deals with use of corporate information, opportunities and assets, intellectual property, proprietary information, and accurate reposting. The fourth standard states the Responsibility to other Businesses. This standard deals with the way Disney’s business associates are an essential part of their team. This standard also deals with customers and licensees, vendors, acceptance of gifts, dealing with financial institutions, bids, sole sources, negotiated bids, minority vendor’s purchases and multiple relationships. The last ethical standard used at Disney is the Responsibility to Communities. This standard deals with government officials, political activity, communities, and international. These are only the ethical standards used at Disney. Other ethical procedures used at Disney deals with the Legal Standards. This information is located within the history of The Walt Disney Company (Walt Disney, 2011).
SEC stands for the Securities and Exchange Commission, which serves as, administer of the federal securities laws in the United States. The job of the SEC is to provide oversight in order to ensure that securities...