Code of Corporate Ethics as a Tool for Developing the Potential of Enterprises

Abstract

The key role in the creation, maintenance, and development of corporate ethics is played by codes of corporate ethics. The relevance of the problem lies in determining approaches to the creation of the content and the importance of codes of corporate ethics as a tool for developing the potential of the enterprise. Each company defines its own tasks, for which it intends to use such a tool as the code of corporate ethics. Nevertheless, the creation of the code, admittedly, extends beyond writing the text of the document. There is a specific implementation of such documents: it is impossible to force one to comply with the code of ethics. The purpose of the study is to determine approaches to the creation of the content and the importance of codes of corporate ethics as a tool for developing the potential of an enterprise. The study defines the essence of the “code of corporate ethics”. Classification of existing codes of corporate ethics is conducted. Universal codes and ethical codes, including professional and corporate ones, are highlighted. The main functions performed by corporate codes in organisations are identified and investigated, including the factors that determine the content of the code. Approaches to creating ethical corporate codes are covered. Two versions of the code, such as declarative and detailed, are considered, which is reflected in examples of actual codes. The classification of existing approaches to the codes of corporate ethics is given to build a methodological base. The study describes the importance of each employee's adoption of the code of corporate ethics, since only under this condition will it be implemented. Based on the above, it is recommended that at the stage of creating the code, procedures should be provided that would include all employees of the company in developing the document, if possible

Keywords

• code of corporate ethics
• corporate culture
• employee behaviour
• enterprise potential