Executive Summary Of Business Research Report:
Code of conduct in a business is one of the most important things where ANZ Bank’s all rules and regulation are written Business Research Report. Here below all the discussion about the code of conduct and its impact on the business. There was a research that conducted by LRN, they are a global provider of governance, ethics and compliance management applications and services.
In Business Research show that the code of conduct follows around all of the employees of ANZ Bank. It has been showing employees view about the code of conduct in Business Research an organization. There are many impacts of the code of conduct in an organization. It will build a relationship strong with the all of the person which is involved in the organization. In some of the cases, it has been some issues which are solvable easily.
If the code of conduct is created by listening to employees view and recommendation it will very effective for an organization and it will also motivate the employees because they get involved on this and get importance.
Introduction:
ANZ bank is the 3rd largest bank in Australia. ANZ bank is the 3rd largest bank in Australia. It operates two brands in New Zealand. One of the names is ANZ Bank and National Bank of New Zealand (https://www.anz.com, 2014). Code of conduct is intended to be a central guide and references for those who are works for the company or government to supporting every day’s decision making (Blowfield and Murray, 2008). It clearly mentions organizations mission, vision, values, and principles, and links them with standards of professionals conduct. It creates a positive public identity for the organization. It is a set of rules for practices for an organization. Companies have been writing code of conduct for decades (Carroll, 2009). But these companies are not playing these roles due to changes in corporate culture in Business Research report.
Issues of the code of conduct:
A code of conduct is an open disclosure of the way an organization operates its operation. Every organization has a standard of code of conduct. But many of the employees are not aware of the code of conduct in ANZ Bank (De Cremer and Trenbrunsel, 2011). The code of conduct cannot cover all the rules and regulation to provide an answer to all the questions. Many of the organization don’t follow the code of conduct’s every rule even they delay to take action when the offense was found. Many of the employees know the rules but they don’t want to follow these rules in Business Research report. In rapid changes of the corporate culture these corporate companies are not changing their rules from time to time (Griseri and Seppala, 2010). A well-designed code of conduct can improve ANZ Bank performance shown in Business Research Report of this bank.
Impact of Code of conduct on employees:
According to LRN ethics study there have some impact which was found in this study these findings are- seventy nine percent of the employees said that there companies have written code of conduct, from them 83% of the employees believes that management of the organization really want to promote ethics in the organization, 70% are saying that managers are trying to obey these rules, 61% of the employees believe that their organization has a code of conduct and it will protect itself from the organization, 73% of employees think that their companies code of conduct make their organization a better place to work place, kindly check Business Research report. 62% of the employees think that code of conduct helps to make a decision, 82% of the employees are think they often apply their understanding of these code of conduct in a workplace, 46% of the employees think they knew the rules but they do not always follow these rules. Only 4% of the employees think that this code of conduct has no effect (Refer to appendix 1).
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There are some code of conduct discussed below of an organization-
Employees Comply rules and regulation – Employees always comply fully with all rules and regulations of the companies. Rules and regulation are affecting ANZ Bank’s business. Employees are maintaining all-time highest standards of the ethics and they must be honest with the company and their employees (Lawton and Lasthuizen, 2011).
Confidential information– ANZ Bank’s most valuable assets is information. Employees always maintain the confidentiality of the information. Confidential is a must for the employees even after termination. Employees should take some safeguard steps to confidential of the information by avoiding discussion it in the public places and on a mobile phone (Dr. Tapan and Gotzmann, 2009).
Conflicts of interest – conflicts of interest occur when individual’s personal interest interfaces anyway to ANZ Bank (McCarth, 2006). Conflicts of interest sometimes occur when any employees or his family member received any improper benefits from the company. Therein many ways to arise conflicts of interest of an employee like corporate opportunities (it include gifts, loans etc.), outside activity, outside employment, personal interests, personal investments.
Fair Dealing– ANZ Bank’s success is dependent upon building productive relationships with third parties based on honesty and mutual trust. Every employee should deal fairly with the customers (Schmuke, 2010). Any of the employees should not misrepresent to any of the clients of the company’s Business Research.
Insider trading– in this type of insider trading information is not available to the general public. Insider trading includes company’s securities (Stevens and Brownell, 2009). Companies issue their securities to comply the law, this type of information relating to the stock split and other actions like capital structure, major management changes, acquisition and other financial information. Who position of the insider trading he called insider, this would include directors, officers, employees etc.
Disclosure Quality: It is very important to maintain the quality of the product of which company produces. It is requiring to regularly filing, the report maintains. All employees are directly or indirectly involved in preparing such report. The report and file maintain through fairly, timely and accurately.
Proper use of assets– each and every employee should maintain all the assets of companies, suppliers, customers and third parties like electronic devices, materials, information’s, equipment, facilities and other assets. The employee should not use any of the above equipment or assets for their personal purpose to gain profit himself.
Reporting of unethical behavior– any employee who is aware of the law and code of conduct, if any employees do not follow the rules and regulation other employees must report that to his higher authorities.
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Conclusions:
From the above Business Research Report, it is concluded that most of the employees are believe that the organization can perform better to comply the code of conduct. It provides a visible guideline to the management so they can change these rules which are obsolete. Code of conduct creates a positive impact on their customer, suppliers and also stakeholders. It increases trust between client and employees. It avoids mistreating to their customers. It helps to employee’s decision making and promote individual responsibilities. Code of conduct is important tools for ANZ Bank because usually, it covers a range of public commitments to repair the reputation of the companies.
Recommendations:
For many ethics and compliance officers, must measure the impact of a code of conduct in an organization. They must listen what employees are saying about the code of conduct. It is not only for knowing the general information but it will give employee’s importance so that they openly discuss the code of conduct.