Greed and money is
an element that cripples individuals in the workplace and tends to end in a negative
way. According to an article “Ethics in America’s Money Culture” states that to
be wealthy is not necessary a sin nor is poverty a virtue to others and people
in today’s society are more concerned about making money, and some type of
income for themselves (Rohatyn, 1987). The factors that led to the development
of the culture of profit before principle at Erorn was power, greed, and egotistical
behavior.

The CEO of Eron
had an egotistic behavior that wanted become the best investment company within
the United States market. The company first started off as an interstate pipeline
company and then the company adventured into the market of trading commodities,
and that’s when the business really started to really expand. Once the year
2000 hit company was generating revenue in 100 billions and their stocked price
reached to $90 per share of a stock. Then as the years progressed the first CEO
named “Jeffrey Skilling” resigned and then a new CEO named “Lay” took over
(Willis, 2006).

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The company began
to go bankrupt and the stock prices fell. The suspicion of a quick bankrupt led
the Securities and Exchange commission investigate the company. The investigation
led to wire fraud and securities fraud and both CEO’s were prosecuted (Willis,
2006). Furthermore, both CEO’s were egoistic individuals, which tends to led
people to see no personal flaws and makes them bind to others viewpoints, and
ethical frameworks about things in life. These individuals were also narcisstic
and had a lifestyle that was only cared about for themselves (Wells, 2017).

                 If the
Eron company had a Code of Ethics system in place within the company I do not believe
that this type of behavior would have continued. When company’s loss their code
of ethics and turn the mission of the company into something else then that’s
were a lot of issues start to surface. Every CEO wants their company to thrive
and generate high volumes of revenue. Having this mindset can sometimes allow
greed to settle into the decision-making process that most CEO’s must make. For
instance, the CEO’s were so greedy that they compromised their company’s code
of ethics into making illegal wire transfers and not being worried about the
outcome and the affect that it will have on the company.

The personal code
of ethics that will help guide professionals to make smart decisions in the workplace
is having guidelines that address relationships with clients, having honesty
and integrity within the company, having work ethics, transparency and
disclosure of information, and equal fairness when performing job duties. The
code of ethics that should be implemented in for relationships is to not encourage
un-ethical favors nor un-ethical agreements within the company business
operations, and to always allow the customers to understand our mission and the
history of the company. Having this code of ethics will address the
relationship with clients, and will help develop a healthy vibrant relationship,
and will reduces the agitation of customers. It also, will help ensures loyalty
to them and that the company can be trusted (Magid, 2017). ­­

A company should
have a code of ethics of integrity and should but in their guidelines that each
member of the organization should have a since of honesty when it comes to the
operations of the business. Truthfulness and integrity go hand and hand, and it
takes individuals with values to withhold those traits. According to an article
entitled “6 Ways to Demonstrate Ethics and Integrity in You Business” states
that management practices are the main functions for an organization to up hold
its integrity and that it start with the management of the business, since that
the core of the trust in a business. Product of integrity is also important
when it comes to public perception, which can have introduced culture when it
comes to integrity ethical viewpoints. (Lotich, 2016).

A company should have work ethic in
their guidelines and should say something like all employee’s are required to
perform their job task in a timely matter. Having work ethic is important in a
business, and should be a part of the code of ethic of a company. Without
having a work ethic makes a company lose its reputation and creditability, but
having a team that enjoys building up the company goes a long way. An article
entitled “Five Characteristics of a Good Work Ethic” states that having a work
ethic provides reliability, dedication, and character with in a company (Schreiner,
2016).

 

Transparency and disclosure
of information is very important and should always be in the guidelines when it
comes to the code of ethics within a company. The guidelines in the code of ethic
should say that public information should be open to the public and made known,
and fail to do so shows a negative effect on the transparency of a company.
According to an article entitled “Code of Good Practices on Transparency in
Monetary and Financial Polices: Declaration of Principles” states that it a responsibility
to disclosure certain financial statements of the company sometimes to keep the
transparency within a company (Interim Committee, 1999).  

 

I think that companies
should but in their guidelines that it is required for employee should demonstrate
fairness in all aspect of the company in order for the company to thrive and
remain ethical cleansed from the unjust un-ethical practices in businesses. Equal
fairness in the workplace is also a very important issue and should always be a
part of the code of ethics in any organization. Having the ethic characteristics
of being fair creates the opportunity for people to remain loyal and fair to
others. Fairness also allows for un-ethical practices to become less frequent.
If everyone plays by the rules then no one gets hurt. According to an article
entitled “Exemplary Leadership and Business Ethics” states that fairness is usually
concerned with someone actions, consequences and we have to be mindful of this
process.