Ethical Practice

Question 1

Transparency

Answer 1

The concept of transparency supports trust in relationships with stakeholders, who could be business associates, investors, governments and communities, and employees.

Transparency commits an ethical organization to disclosing details about dealings, transactions, or processes to those who have a vested interest.

Question 2

Honesty

Answer 2

Honest dealings reflect and commitment to truthfulness and fairness, abiding by social and business norms. Honesty requires an avoidance of conflicts of interest and bribery

Question 3

Conflicts of interest

Answer 3

Situations in which a person or organization may benefit from undue influence due to involvement in outside activities, relationships, or investments that conflict with or have an impact on the employment relationship or its outcomes.

Question 4

Bribery

Answer 4

The exchange of anything of value to gain greater influence or preference.

Question 5

Authenticity

Answer 5

Refers to a person’s ability to stay true to their values and maintain their integrity in both their personal and professional lives.

For an organization, it refers to an individual’s approach to forming and maintaining relationships with colleagues and others in the organization.

Question 6

Code of Conduct

Answer 6

Principles of conduct within an organization that guide decision making and behavior.

A written code of conduct can help an organization promote ethical behavior by communicating to all its members the organization’s commitment to certain values, by defining behavioral expectations for all employees, and by providing direction to all employees when they are faced with ethical decisions.