This due diligence form describes the General Code of Executive Ethics for all Corporate Executives and Members of the Board of Directors and Committees that has been adopted by the board of directors of a company. It reflects the company's vigorous and ongoing commitment to the highest ethical standards for its executives, officers, and board and committee members.
Michigan General Code of Executive Ethics for all Corporate Executives and Members of the Board of Directors and Committees
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Seven golden ethical principlesBe an ethical leader.Use moral courage.Consider personal and professional reputation.Set the right tone at the top.Maintain an enquiring mindset.Consider the public interest.Consider 'the right, the good and the virtuous' actions"
Here are our Top Tips for raising the bar and creating a more ethical workplace:Create a code.Engage with your employees and customers.Reinforce the benefits of the code.Be a good role model.Train your employees.Promote your ethical behaviour.Reward ethical behaviour.Learn from your mistakes.More items...
A corporate code of ethics is a statement of business guidelines meant to inform worker behavior and prevent behavior that does not fall in line with the company's mission and greater objectives. Ethical codes, also called codes of conduct, can vary significantly from one company to another.
-A board of directors has three formal responsibilities. §Appoint the officers of the firm. A§Declare dividends. A§Oversee the affairs of the corporation.
Nonprofit Boards: 7 Key Responsibilities for Good GovernanceEnsure Effective Organizational Planning.Provide Sufficient Resources.Make Sure the Organization Fulfills Legal Obligations.Provide Proper Financial Oversight.Select and Evaluate the Executive Director.Improve the Organization's Public Standing.More items...?
ShareSelflessness. Board members should make decisions in terms of the public interest.Integrity.Objectivity.Accountability.Honesty.Leadership.
Examples of Evidence of Ethical Responsibilitycollaborations, partnerships, teamwork.service learning.volunteerism.social/political action activities, community advocacy, social advocacy.leadership roles.ethical training certificates.teaching others, conducting trainings, leading workshops.More items...
What are the five codes of ethics?Integrity.Objectivity.Professional competence.Confidentiality.Professional behavior.
All Ethical Issues Point to the Board of DirectorsBecause a corporation is not human, there is no way to sanction the corporation or hold it accountable for illegal activity. A corporation doesn't feel guilt or remorse for having harmed its employees or customers.
Board members are the fiduciaries who steer the organization towards a sustainable future by adopting sound, ethical, and legal governance and financial management policies, as well as by making sure the nonprofit has adequate resources to advance its mission.