Business Ethics in the Workplace
An Assessment of
Business Ethics in My Workplace
Ethics in business is fast becoming a major focus and need for most major corporations today. There is everything to gain in having ethics, and for companies that do not have ethics there is everything to lose. Ethics involves knowing right from wrong and then making the decision to do the right thing. “Virtually every professional organization and every corporation has a code of ethics that specifies the behaviors that are required or forbidden” (Ruggiero, 2001, p.47). In April 2002 Chase took a hard look at ethics and out of that came what is now called the “Chase Worldwide Rules of Conduct”.
As a Chase employee we are all expected to understand and follow the Worldwide Rules of Conduct. The company is counting on us to conduct ourselves responsibly and ethically. It is up to us to demonstrate good judgment, and to have high ethical standards as it pertains to our work. Having integrity is vitally important to the company’s reputation and business. It is stressed to every employee to never sacrifice integrity even if you think it would help JPMorgan Chase’s business.
The Worldwide Rules of Conduct are a term and condition of our employment. Employees agree by signing off on these rules to report any violations they have been subject to. Matters involving fraudulent acts whether it is by third parties against the firm or dishonesty by an employee, harassment, and intimidation should be immediately reported.
The Worldwide Rules of Conduct were written to communicate to each and every employee the standards of ethics and integrity that are expected of them while they are under the employment of JPMorgan Chase. In many cases unethical decisions are not done intentionally, but out of ignorance. It was felt that if standards of excellence, ethics, and behavior were communicated well throughout the organization it would be a big win in the long-term success of the company. When employees make decisions to act unethically, they affect each and every stakeholder within the organization. A clearly explained code of ethics plays a pivotal role in employee empowerment by clearing up any questions on their own. Employees are empowered to make many choices every day; should the choice prove unethical the company’s profits and reputation will suffer. Employees must be trusted to do the right thing, especially when no one is paying attention.
The overall purpose of the Worldwide Rules of Conduct has been achieved in that the message of what is expected in regard to business ethics and responsibilities has been successfully communicated. Well-communicated guidelines help set the standards for employees. The documentation is now in place, and each employee has taken ownership of the rules by giving their signature. The effectiveness of the rules depends primarily on whether they receive support by management, and how employees who break the rules are treated. This means that managers must lead by example. [next page]