In a short essay, describe the main elements of a Living Code of Ethics.

Question

What will be an ideal response?

Answer 1

Authentic Leadership
Authentic leadership is based on a strong belief in the leader’s value, character, and moral
capacity. Authentic leaders focus on the needs of others and help in their development.
Organizational Components
Attraction-Selection-Attrition
The development of a process in which ethical people are attracted to work for the firm, are
selected to work for the firm, and stay employed by the firm.
The Socialization Process
The socialization process allows the values, beliefs, attitudes, norms and traits of the living code
of ethics to be transferred to the new employees.
Reward Systems
Firms that have a positive ethical focus use reward systems to acknowledge the ethical behavior
of the employees. The firm must ensure that the reward systems coincide with the living code of
ethics.
The Decision-Making Process
The decision-making process by the employees must integrate with the living code of ethics in
the day-to-day operations of the firm.
Organizational Learning
Organizational learning is the process in which the firm generates and captures information
relevant to its operations and transfers it to its employees.
Organizational Culture
Organizational culture is a pattern of shared values and beliefs that are incorporated by the
employees throughout the firm.