Ethics auditing
Q1
Ethics auditing can be described as an audit that is performed to determine if the company is operating in line with the code of conduct values, objectives, and goals that it set itself in the social sphere. Therefore, it is used as a measure of the culture and behavior of an enterprise. It identifies the level at which its values have been embedded across its operation and people. Ethics auditing is used to monitor if the process and procedures that are used by an organization to achieve its goals are ethical. The analysis is usually based on the societal and communal point of view.
Q2
There is much reason as to why companies have adopted ethics auditing. For instance, the process helps the management to comply with cooperate guidelines. Based on the business view, ethics auditing is used by companies to identify and highlight the current trends in the business world. The process plays a significant role in organizational learning and facilitates communication in the organization. The procedure calls for a better and excellent working relationship with the workers in an organization. The companies can assess their policies and identify possible ways that can help them to increase efficiency in their operations. Additionally, an organization will have an enhanced corporate image, which improves the morale and motivation of workers. The other significant benefit is that the company will be fraud-resistant. Therefore, the auditing process will help companies to be ethical and responsible socially in daily operations. One of the disadvantages that are associated with the procedure is the lack of support from the management. Members of the management team decide to work with their version of cooperate ethics. The implementation of the process can be expensive for an organization. Furthermore, the process is time-consuming because ethics policies need regular updates for the company to realize workplace laws. Don't use plagiarised sources.Get your custom essay just from $11/page
Q3
Non-financial performance measures are associated with various challenges that have a potential impact on the operation of an organization. For instance, the cost and time needed by the process can be a problem for the company. The price that is involved in accessing the system and tracking non-financial measures is approximately higher than the total profits. The development of the system will be time-consuming and can affect the operation of the organizations. Making performance evaluations through the use of multiple measures is likely to conflict short term goals of the company.
Q4
The first stage in the auditing process to secure boar commitment and top management. Then you will be required to develop an audit committee for ethics. Then the company will be necessary to define and identify the scope of the audit. Also, the auditor makes a review of the values, goals, and mission of the organization. The next step will involve collecting and analyzing relevant information. An outside agent will then verify the results. The last step consists of reporting the findings to the manager, audit committee, and stakeholders.
Q5
The central strategic role of ethics auditing is to provide an appropriate benchmark that covers the overall efficiency and ethics inventiveness. It plays a significant role in the allocation of assets and the development of various programs in the organization. It is also tasked with demonstrating a positive impact in terms of ethical conduct. The company will be in a position to achieve a collective social responsibility initiative on the bottom line of the firm.
Q6
Various ways can be adopted by a company to stay at the top of the global risk. For example, the company should move from damage to reputation and brand. Successful management of status provides a better opportunity for a brand. The company will be able to appear competent and responsive. The other aspect is for the company to adjust to the increase in competition. Change in technology will help the companies to come up with innovations that will help them in entering new markets. Nevertheless, the companies will have an opportunity to establish appropriate business models.
Q7
Leaders for every organization are responsible for delivering diversity targets and goals. The map helps the business to understand the benefits of encouraging diversity in the workplace. Furthermore, it helps the company to recognize various cultural diversity that exists between multiple workers. Therefore, the firm will be in a position to realize that diversity brings together a lot of productive ideas. Firms should aware that the only way to promote innovation is by encouraging organizational diversity. The business will stand a chance of building a public image. It will be evident to people that the company does not practice discrimination when it comes to employment.
Q8
The most dangerous global ethical risk is the rapid development of accessible and uncertain discontent related to economic and political order. The other aspect is the development of capitalism in various countries, hindering the ethical operation of multiple businesses. Therefore, political and economic tension in multiple parts of the world is likely to be a risk to ethical and global business operations.