Key elements of the Shell’s ethical code
What are the key elements of the Shell’s ethical code? Describe in brief?
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The main elements of this code are that such individuals must:
a) Adhere to the utmost standards of honesty, truthfulness and fairness, whilst sustaining a work climate which fosters such standards.
b) Comply with any codes of conduct or rules regarding dealing in securities.
c) Avoid participation in any decisions which could include a conflict of interest.
d) Avoid any financial interest in contracts awarded through the company.
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
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Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
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