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Inquiry into Shell Company’s Code of Ethics Intended Persons and Specific Purposes Shell Company Code of Ethics Was Intended For Intended Purposes This particular company’s code of ethics was created for a couple of very specific reasons, and is intended to be adhered by specific individuals that are actually listed by position or job title in the document itself.
According to “Shell’s Code of Ethics”(1976), “this code is specifically intended to meet the requirements of Section 406 of the Sarbanes Oxley Act and the listing requirements of the New York Stock Exchange by providing for a number of implementing requirements in the area of disclosure controls and the avoidance of conflicts of interest by the category of job holders and persons referred to in this document” (para 2).
The previously quoted material explains the specific reasons the Shell Company implemented their version of the Code of Ethics, but it doesn’t specify the persons intended to adhere to these ethical standards. The document itself lists out, one by one, the persons, positions, or job titles that are expected to follow these ethical procedures. What is the nature of th company? What is the mission statement? Intended Persons and/or Job Titles
According to the “”Shell Company’s Code of Ethics,” (1976), “this code is applicable to the following job holders and persons: the Executive Director of Royal Dutch Shell, the Chief Financial Officer, the Executive Vice President – Controller, the Executive Vice President – Treasury and Corporate Finance, the Chief Internal Auditor, the Executive Vice President – Taxation, the Executive Vice President – Investor Relations, the Executive Vice President – Strategy and Planning, the Executive Vice President – Finance Trading, the Executive Vice President – Finance Operations, the Executive Vice Presidents – Finance of Upstream International, Upstream Americas, Downstream and Projects & Technology, and any person or job holder designated by the Chief Financial Officer (a register of such designated persons will be maintained by the Company Secretary)”(para 3).
The document goes on to inform the reader of said document “that from here on out the document will refer to the previously mentioned persons or job holders as COE Addressees” (“Shell Code of Ethics”, 1976).This assignment does not request this information. What is the ethics system at Shell? Requirements Intended to Meet
This concludes the parties to which this document was intended, and the specific purposes this document was intended to fulfill, but leaves out one other very important factor. In the code of ethics itself, it states that it was intended to meet the requirements of two separate items: the requirements of the Section 406 of the Sarbanes Oxley Act, and the listing requirements of the New York Stock Exchange.
I believe that a person reading this inquiry may not have the sufficient knowledge of either/or the aforementioned documents, and will give a brief description of each said item. This paper does not require requirements intended to meet. It asks how the code of ethics is used in this organization. I do not see this information. Sarbanes Oxley Act and Listing Requirements of New York Stock Exchange Sarbanes Oxley Act
The first item I will briefly go over is the Sarbanes Oxley Act. According to the “U.S. Securities and Exchange Commission” (2003), this document calls for two new types of disclosures to go into effect: the first is a disclosure that “requires a company to disclose whether or not it has at least one audit committee financial expert, and if so, the name of that expert, and whether or not that expert works independently from the management” (Summary).
The second new type of disclosure the Act states is “whether or not the company adopted a code of ethics that applies to principal executive officer, principal financial officer, principal accounting officer or controller, and persons performing similar functions” (U.S. Securities and Exchange Commission, 2003). This paper does not require information on the Sarbanes Oxley Act. Listing Requirements for New York Stock Exchange
The next item the Shell Company Code of Ethics refers to is the listing requirements for the New York Stock Exchange. The listing requirements for the N.Y. Stock Exchange are as follows according to the U.S. Securities and Exchange Commission: “the initial listing requirements mandate that a company meet specified minimum thresholds for the number of publicly traded shares, total market value, stock price, and number of shareholders. After a company starts trading, it must continue to meet different standards set by the exchanges.
Otherwise, the company can be delisted (2003). These brief descriptions of the two stated documents will help the reader better understand what specific purposes the Shell Company Code of Ethics were intended for. This paper does not require Listing Requirements for the NYSE. Shell Company’s Ethical System
Virtue Ethical System For all informational purposes, I will start out by stating that Shell Company’s ethical system is one of virtue. According to the “University of Phoenix Material titled Introduction to Ethics for University of Phoenix Students”, the virtue ethical system is one that is “determined by community standards or religious training, and is the highest standard available. A virtue ethical system is also one where “integrity, character, intentions, and motivation of the person are more important than the act itself.
The Introduction to Ethics goes on to state that “other forms of virtue ethics include the disclosure rule, human nature ethics, and community standards” (University of Phoenix Material, Introduction to Ethics, 2012). A virtue ethical system is not accurate. Ethical systems include ends-driven, relativistic, entitlement, and duty-driven (legal or religious) ethics. Which one does Shell have and how is it used?
Humanistic Ethical System I already discussed the virtue ethical system, and next I would like to touch on the human nature ethical system. The human nature system is a system that “sees the passion and flaws of humans as a real issue.
Human nature ethics tend to deal with the extremes of human behavior, both good and bad, and practicioners find little room for middle ground. Many of the people that follow the humanistic approach include the following: egoists, that think and act only for themselves. Hedonists, who believe that pleasure is the chief goal in life, and virtue system type people who believe in moral excellence, rightness, and responsibility” (University of Phoenix Material, Introduction to Ethics, 2012). This makes no sense. You are contracting the previous ethical system you stated. The Why, How and When the Code of Ethics is Used
Why It Is Used Why the Shell Company’s Code of Ethics is used has already been discussed. It is intended to be used for two purposes. The first being to meet the requirements of the Sarbanes Oxley Act, and the second is to meet the listing requirements of the New York Stock Exchange. The why it is used part of the persons and/or job titles it is intended for is simply because the Shell Company needed guidelines in place that clearly stated to specific individuals exactly what code of conduct is and will be expected of them as Shell employees. This includes employees at all levels of management and all levels of job holders. This Code of Ethics implemented by this certain company does not display discrimination of any type. O.K. How It Is Used
This company’s code of ethics is used in a way that exhibits very high standards. It calls for Shell’s job holders, and managerial positions to hold themselves at the highest of moral standards and expects nothing less of any of the company’s employees. There are strict guidelines as to what type of punishment is given if these high standards and expectations are not met. It clearly defines what will be and will not be accepted by each and every employee. O.K. When It Is Used
This company’s code of ethics clearly states that these ethics will be used every single day. When I state every single day, it is every single day whether one is at work, at play, or at home. It even goes so far as to mention that these high standards of ethical behavior will be met even when an individual is off the clock, so to speak. Even when an employee of Shell is at his or her own residence, these high standards are expected to be met, and frowned upon if they are not. Conclusion
In this inquiry I have discussed and analyzed the Shell Company’s Code of Ethics document in it’s entirety. I discussed the intended purposes and persons this document was created and implemented for. I analyzed what type of ethical systems were responsible for the basis of this company’s code of ethics, and the types of people that put in to practice these types of ethical systems.
I clearly listed out each and every person or position the document lists that are to adhere to these standards. I deducted that it is evident that there are severe punishments for not meeting these high ethical standards. It wasn’t clear what exactly these punishments were, just that they were severe, and/or that they (punishments) would be as bad as, or worse than termination itself. Lastly, I went over the when, how, and why this company’s code of ethics is used.
As the reader can clearly see, the Shell Company sets the highest type of ethical standards available to any such company, and hold true to the fact that these ethical standards are to be met, and that those who do not meet them will be severly punished, and/or terminated, and/or replaced, and/or all of the above. Shell Company does not tolerate anything less than employees that conduct themselves in a morally right, virtue based, highly standardized type of ethical behavior.
In my opinion, there is no other way to operate a business or corporation, and hold Shell Company in the highest regard for setting the highest example of positive moral leadership I have had the honor to witness in a very long time. According to Johnson and Phillips, “a company’s culture tends to reflect the values that guide the company’s actions” (Phillips & Johnson, Absolute Honesty, 2003, pg. 29). I will even go on to say that if more companies followed the example set by Shell Company, there would not be the need for inquiries such as these.
References Shell code of ethics. (1976). Retrieved from http://www.shell.com/home/content/aboutshell/who_we_are/our_values/code_of_et hics/ University of Phoenix. (2012). Introduction to ethics. Retrieved from University of Phoenix, PHL 323 - Introduction to Business Ethics website.
* Treviño, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right (4th * * ed.). Hoboken, NJ: Wiley, chap. 4. Johnson, L., & Phillips, B. (2003). Absolute Honesty . New York, New York : AMACOM. You are missing two more peer reviewed sources from this assignment.
Word count: 1,717 words Paper -Evaluation of a Business Code of Ethics- Grading Form- Week Four
Content (9 points)| Percentage Earned4/9| Additional Comments:| The purpose of this assignment is to assist you in refining problem-solving capabilities that organizations already possess for use in business ethics applications. This paper uses a structured, objective format sometimes called a system of inquiry. This assignment is a systematic formalized inquiry into or examination of the code of ethics of an organization and its effects to achieve a specific level of ethical behavior in employees, management, and executives.
Each business should have a framework for ensuring ethical behavior. The structure, format, and scope of codes vary depending on the company’s business. An oil company's code, for example, would probably have different criteria and emphases than a healthcare provider's code of ethics. Sometimes, codes of ethics are called by other names, such as an employee code of conduct.
A code of ethics, though, should be differentiated from standard good operating practices. assessing organizational ethics along with decision-making processes. In this case, you are evaluating your own company’s code of ethics, or that of another company if your employer does not have a code of ethics.Write a 1,200- to 1,400-word paper, one not using question-and-answer format, discussing your organization’s code of ethics in detail. Perform the following steps:Obtain a copy of your employer's code of ethics or find an example on the Internet from a major corporation, such as Shell Oil Company’s Statement of Ethics. This is the document upon which to base your inquiry. * Write a general information paragraph on the company, including its mission statement. * Determine the type of ethical system used by the firm and reasons or examples upon which you based your decisions.
Ethical systems include ends-driven, relativistic, entitlement, and duty-driven (legal or religious) ethics. * Identify and discuss how the code of ethics is used. Include several paragraphs on each use: one for employees, one for management, one for the board of directors, and so forth. Some of this information comes from the company’s code of ethics. Others may be available through an Internet search.
Consider the following: Why it is used—the general or special circumstancesHow it is usedWhen it is used Note. You may not be able to find all the information. In that case, state this fact and indicate which sources were examined with no results.Why might the organization need to modify their existing code of ethics? Consider how you might modify the code if you were the new CEO and how you would implement the changes.
What possible reactions to the code are to be expected from employees and managers? What effects does the organizational culture have on the acceptance of the code? * What is the effect of the code on the organization? Summarize the results of your systematic analysis or inquiry into the code of ethics of this organization.Do not include paragraphs directly from your company’s code.
Summarize what is contained in the document. Your paper may contain no more than 15% unoriginal or quoted material.Include at least two textbook references and three, peer-reviewed references from scholarly sources with your paper.Note. You may not be able to find all the information. In that case, state this fact and indicate which sources were examined with no results. Why might the organization need to modify their existing code of ethics?
Consider how you might modify the code if you were the new CEO and how you would implement the changes. What possible reactions to the code are to be expected from employees and managers? What effects does the organizational culture have on the acceptance of the code? What is the effect of the code on the organization? Summarize the results of your systematic analysis or inquiry into the code of ethics of this organization. | | Well over word count.
The paper addresses some of the what, how and when of the ethical system but the ethical system noted is not ends-driven, relativistic, entitlement, and duty-driven (legal or religious) ethics.I am concerned with the source of this paper because it does not follow the syllabus and does not have the required sources. It speaks as though it was written for a very different assignment. The following information was not covered :Why might the organization need to modify their existing code of ethics?
Consider how you might modify the code if you were the new CEO and how you would implement the changes. What possible reactions to the code are to be expected from employees and managers? What effects does the organizational culture have on the acceptance of the code? * What is the effect of the code on the organization? Summarize the results of your systematic analysis or inquiry into the code of ethics of this organization.| | | |