How does an ethics and compliance officer (ECO) compare to an ombudsperson in dealing with ethics issues and promoting ethics systems in an organization?
What will be an ideal response?
An ECO generally has all the responsibilities of an ombudsperson and many more
that an ombudsperson does not have. Both are positions to which employees can report ethics issues. They can guarantee anonymity and put in motion a plan for dealing with the issue, including investigating the claim. Both positions have access to all employees and management positions in a company. However, an ECO goes beyond this by acting as a coordinator and communicator for developing an ethics program for the organization. The ECO may proactively assess risks, monitor the company’s overall behavior and culture, develop ethics policies and training systems, and oversee the communication strategy that informs all employees of the company’s ethics rules, programs, and expectations. It is also more likely for an organization to contract out for an ombudsperson than for an ECO, which is more likely an internal position to a very large organization.
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What will be an ideal response?
It is easy to insulate your personal life from workplace stress
Indicate whether the statement is true or false
The Federal Reserve through monetary policy can help expand the economy by
A) lowering income taxes on individuals. B) reducing tariffs such that foreign exports can increase. C) supporting a moderate growth of the money supply. D) increasing government spending on the national infrastructure.
A bond with default risk will always have a ________ risk premium, and an increase in its default risk will raise the risk premium
A) positive B) negative C) unpredictable D) minimal