Ethical Code for Financial Management
There is a growing body of knowledge indicating that organizations that act in a socially responsible manner and follow ethical standards outlast and outperform companies that pursue profits at all costs. This connection between value and ethics has been around for a long time, but several studies have confirmed it. In fact, according to research conducted by Dr. Curtis Verschoor, "Of the 87 companies where an ethics code was clearly stated, the average Market Value Added (MVA) was 2.5 times larger than those not mentioning a code of ethics or conduct" (Verschoor, 1999).
For this Shared Practice Discussion, review this week's resources and the "Code of Ethical Conduct for Financial Management" from Eli Lilly and Company.
Post by Day 3:
• Assess how comprehensive this organizational ethical code appears to be and what you feel may be missing.
• Compare this code with a similar code from your organization or one with which you are familiar.
• Assess the value of ethical codes for financial management in general.