Annals of the University of Oradea: Economic Science (Jul 2013)
BUSINESS ETHICS IMPLEMENTATION IN ORGANIZATIONAL CULTURE OF COMPANIES
Abstract
Abstract: In this paper we have analysed the perception and implementation of the principles of business ethics for companies. This paper is a theoretical approach to ethical principles and the corresponding legislation, as well as an analysis of the degree of alignment of national legislation with the latest stipulations following the entry into force of the UK Bribery Act. This Act is currently recognized as a new and more comprehensive approach on the subject of ethics in international affairs. At the same time, this paper focuses on the study case regarding the comprisal of Business Ethics principles within the activity of Romanian companies. Therefore, a practical approach is achieved, with an applicability of the theoretical aspects, which are the subject of the first part of this paper. We analysed the need to implement Codes of Ethics and their advantages. Companies that do business with an organization that has implemented a Code of Ethics should be aware of its provisions and act accordingly, because it is a mandatory issue for all employees, and also in its relationships with the external stakeholders. A code of ethics is a tool, a means of transmitting the organizational culture to its members, conferring them a sense of common identity, like the membership of a team. The desire of any company is to improve ethical performance, and, in order to achieve this, they need to build up, day by day, protection and to introduce it into a daily routine activity. Both managers and employees need guidance on how to act in certain situations that raise ethical questions. The best way to solve these situations is through the existence of a code of ethics that both managers and employees can turn to for guidance at any time and reach the right directions. Completed in July 2010 and entering into force in 2011, the UK Bribery Act is the latest approach to corruption. This Act has been described as the toughest anti-corruption legislation in the world, blaming a behavior that is not acceptable in the global market. With the advent of this new law, many companies were forced to update their codes of ethics in order to meet the new challenges introduced by this law. In this context, our research is based on the study case of the way in which the best performing company in Romania, OMV Petrom, uses in its practice the ethical values that are compulsory at an international level.
