Assignment:
Less than a dozen multinational media corporations control/dictate all aspects of radio, television, film, and book publishing.
Research one of these corporations and review its website.
Find the ethical guidelines for one of these corporations.
Discuss three specific ways the corporation exhibits corporate responsibility in its business endeavors.
Explain the implications on society.
See the information below:
CODE OF BUSINESS CONDUCT AND ETHICS
FOR THE DIRECTORS, OFFICERS AND EMPLOYEES
Stephen Carmack
5 September 2006
POLICY STATEMENT:
1. General Integrity and Compliance with Laws. All employees and directors are expected to observe the highest standards of business ethics and to seek to comply with all laws, regulations, and contract requirements that are applicable to the Company’s business. Failure to comply may subject the employee or director, as well as the Company, to liability. Where laws, regulations, and contract requirements are ambiguous or difficult to interpret, employees should contact their immediate supervisor and, if necessary, their next level of supervision. If corrective action is not taken by a supervisor within a reasonable period of time, the matter should be brought to the attention of the Chief Executive Officer or the Director of Human Resources.
2. Conflicts of Interest. Any material transactions between the Company and its directors, officers, stockholders, employees, agents or affiliates, or members of their immediate family, must be submitted to, and approved by, the Company’s board of directors (the “Board”) or the Board’s Audit Committee. This includes any transactions with third parties (e.g., vendors, franchisees) in which such persons have a material interest. If you encounter any such transactions, notify the Chief Executive Officer or the Director of Human Resources.
Conflicts of interest can arise when you or a member of your family receive improper personal benefit because of your position with the Company. Unless you obtain approval in the manner described above, you should not take actions, conduct business, or make statements that create real or potential conflicts with the Company’s interests, including taking a personal, proprietary or financial interest in an entity with which the Company does business or competes, or which could adversely, or appear to adversely, influence you in your Company employment.
You may not have an outside job, business, financial interest or activity that, because of its size, significance or nature, adversely affects your performance or that conflicts or appears to conflict with the Company’s interests. Employees should obtain the approval of the Chief Executive Officer, or, in some cases, the Board, before they get a position outside the Company that pays money or other consideration. Directors should notify the Board or the Audit Committee about any actual or possible conflict of interests.
You may invest in entities that supply or purchase goods or services to or from the Company so long as the entity is listed on a national securities exchange or regularly traded by national securities dealers and you purchase only one percent or less of the market value of the entity’s outstanding securities. If you want to purchase from entities not meeting this standard, or in greater quantities, you must receive the Board’s approval before investing.
3. Gratuities. Employees and directors are prohibited from making, or causing others to make, bribes or illegal payments to promote Company interests. Prohibited actions include money, favors, gifts, costly entertainment, or inappropriate use of Company facilities. Acts of hospitality toward public officials and Government employees should be of such a nature as to avoid compromising either the Government employee or the Company employee or director. Federal law generally prohibits providing gifts of any kind to Federal officials. There are some limited exceptions, including unsolicited gifts (such as business lunch) having a market value of less than $20 per occasion and less than $50 per calendar year. If you have any questions, please contact the Human Resources Director in advance.
4. Political Contributions. The Company will not contribute to political parties or candidates for office except as allowed by applicable campaign laws and regulations.
5. Proper Accounting. Compliance with accepted accounting rules and controls is expected at all times. The books of accounts, budget proposals, economic evaluations of projects, documentation supporting the disbursement of funds, and all other Company records must fairly reflect all transactions. All accounting shall be handled in such a manner as to insure that accurate and legitimate costs are charged to the appropriate contract or account.
6. Safeguarding Sensitive Data. Employees and directors with access to proprietary data or industrial security data are expected to protect and safeguard all such data to avoid improper disclosure.
7. Insider Trading. Insider trading will not be tolerated by anyone and will amount to immediate termination.
8. Acceptance of Costly Entertainment, Services, or Gifts. Employees and directors may not accept costly entertainment, services, or gifts that may create the appearance of a conflict between the interests of the employee or director and the Company.
9. Fair Competition. Employees shall not enter into understandings or arrangements with competitors which may unlawfully or disloyally affect pricing or marketing policies.
10. Professional Workplace. The Company is committed to maintaining a professional and productive work environment. Certain relationships have the potential to interfere with this goal. Supervisors have a special duty to promote and maintain a workplace free from harassment and discrimination, and are expected to serve as examples for other employees by adhering to the highest standards of professionalism in all their actions. Romantic or sexual relationships between supervisors and employees may have a tendency to disrupt operations, decrease productivity, negatively affect morale, and otherwise interfere with the fulfillment of corporate goals. In certain circumstances, such relationships may also subject the Company to potential liability.
11. “Hotline” Reporting and Investigation. In addition to the reporting procedures specified above, the Company maintains a “DoD Hotline” and a “Audit Committee Hotline” to report actual or suspected violations of this Code of Ethics; waste, fraud, and abuse; and complaints about company accounting, internal controls, auditing matters, or other financial concerns, including fraudulent record keeping or reporting. Reports made by the “hotline” systems may be made anonymously.
12. Suspected Violations. Suspected violations reported by “hotline” or by any other reasonably reliable process will be promptly investigated and consistent action will be taken as necessary in compliance with clear and objective standards, such as this and other written and published, policies and procedures. The Chief Executive Officer and Director of Human Resources are jointly responsible for assessing and ensuring the fairness of the process used to determine violations of Company policy.
References:
Code of Business Conduct & Ethics for Directors, Officers and Employees of VSE Corporation Retrieved 5 September 2006