Business Ethics

Business Ethics

Introduction

Failing ethical standards in the business have caused serious damage to the economy of the countries. The failures of these ethical standards have been specifically seen in the form of various accounting scandals. These ethical failures have also been seen in the business operation in relation to the consumers and employees right. The fraud committed by big corporate giants cause around $ 600 billion each year (Duska,2007). In relation to these ethical issues, shareholders have lost billions of dollars in indirect cost, due to the implementation of corporate governance program for complying with the legislation of the Government.

This failure in ethics the field of business is somewhat new area of study with very little development. It has come into effect in the recent decades so a lot of work is to be done in this field of study. In business, it is very difficult to highlight what is ethical and what is unethical. Proper codes of conduct in business are required as per the norms of the society. Therefore, when codes of ethics are framed for an organization not only the personal gains are to be kept in view but also gain for the society should not be forgotten (Elliott, 2005). The framing of the code of ethics should cover all the areas and department of business from the management to the financial rules of the business. This proper implementation of the code of ethics will be very fruitful for the business both in the short as well as in long run of the business, since the company will be in less danger of penalties from the government and non-governmental agencies.

Our business is Flaming Phoenix MD (FPMD). We are a publicly traded mid-sized company in the Logistics Management Field. FPMD is the leading Global Logistics Company providing excellent project management and logistical rigging. FPMD has over nine years of experience working with companies such as Lockheed Martin, Siemens, Boeing, SAIC, USAir Force, and Department of Homeland Security (DHS). FPMD's success flourishes through its structured proactive approach, handpicked project management, and specialize rigging operations to insure a confident movement and quick turnaround. FPMD is devoted to aggressively managing projects while keeping its customer and their time schedule in mind. Therefore, we are going to plan the ethical code of conduct for this business, so that the business can see new laurels of success.

Code of Ethics

The company is dealing with various firms having serious impact on the economy. These companies have great impact on the overall image of the company. Therefore, the codes of ethics that we are going to design will be in accordance to it.

Integrity and Objectivity

The company will make maximum efforts to keeps its financials clean, no fake representation will be done by them. This will keep a good image of them in the market and will build a long relationship with these giant companies (Machan, 2007). Our competitors have the policy of not disclosing the right cost of shipments to the customers, but being ethical, ...