Corporate ethics has an influence in technology and cyber security. It is therefore incumbent for companies to invest in a code of ethics for the protection of their consumers. I have made my observations regarding the same because I understand the vulnerability of consumers and the risk of theft of consumer data. Accordingly, I have included recommendations that you may include to ensure the company has a strong code of ethics.
The need for a code of conduct cannot be over emphasized. We are living in the age of technology where many corporate affairs are conducted over the internet. It follows; there is a need to protect organizational data including consumer data, financial and product information from cybercriminals. (Macnish & van der Ham, 2020). Accordingly, corporates should develop ethical codes to ensure company data is secure. A code of conduct defines the duties and obligations that employees of the corporation must have in the performance of their duties. (Kaptein and Schwartz, 2008). Notably, the obligations in the code of conduct must be followed by sanctions if they are broken. (Tyagi, 2014).
Besides protecting the corporation’s data, a code of ethics may make a corporation have better financial performance. (Tyagi, 2014). Also, a good code of ethics will increase the reputation of the corporation. (Stohl et al., 2009). It has also been observed that codes of ethics help employees feel secure in their work and customers to have great faith in the corporation. (Wood, 2000). It is also worth noting that the internet has provided ready access of the corporation’s policies and procedures thereby emphasizing the need for a strong code of ethics to legitimize the corporation’s business.
First, an ethical code of conduct should provide the moral standards that bind the corporation. These moral standards include trustworthiness, respect, responsibility, fairness, caring, and citizenship. Next, the code of conduct must make reference to the stakeholders. These stakeholders include customers, and investors. Thirdly, the terms in the code must ensure consistency with moral standards. It is also recognized that the moral standards in the code of ethics must be prioritized over other corporation’s goals. The corporation should also provide the rationale for having the said moral standards. Notably, the code should have a provision that provides for the discipline mechanism for the violation of the code. Lastly, the code must be comprehensible. (Schwartz, 2002).
I recommend that you add the code of ethics as one of the corporation’s policies. Also, the code must be made readily available and accessible for the employees of the corporation. Lastly, the corporation may conduct training on the adherence to the obligations in the code.
Kaptein, M. and M. Schwartz: 2008, ‘The Effectiveness of Business Codes: A Critical Examination of Existing Studies and the Development of an Integrated Research Model’, Journal of Business Ethics 77, 111127. doi:10.1007/sl0551-006-9305-0.
Macnish, K., & van der Ham, J. (2020). Ethics in cybersecurity research and practice. Technology in Society, 63, 101382. https://doi.org/10.1016/j.techsoc.2020.101382
Schwartz, M. (2002). A Code of Ethics for Corporate Code of Ethics. Journal of Business Ethics, 41(1/2), 27-43. Retrieved July 12, 2021, from http://www.jstor.org/stable/25074904
Stohl, C., Stohl, M., & Popova, L. (2009). A New Generation of Corporate Codes of Ethics. Journal of Business Ethics, 90(4), 607–622. https://www.jstor.org/stable/27735269
Tyagi, A. (2014). Role of Business Ethics and Corporate Governance in Business Success. International Journal of Engineering and Management Research, 1. https://www.ijemr.net/DOC/RoleOfBusinessEthicsAndCorporateGovernanceInBusinessSuccess(213-215)0b7c8c19-31f5-4f87-b44d-0cfb93d6bc72.pdf
Wood, G: 2000, ‘A Cross Cultural Comparison of the Contents of Codes of Ethics: USA, Canada, and Australia’, Journal of Business Ethics 25, 287-298. doi: 10.1023/A: 1006034209956.
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