What is good/bad ethics

Taking personal responsibility for economic and ethical performance of corporations - Business Ethics Articles - impact of corporate governance scandals on business ethics debateFailure in business ethics is a real threat to the future of every corporation. business ethics as an issue is a hundred times more powerful than the internet or globalisation and can destroy your business in a week. To make matters worse, standards of business ethics are changing rapidly in response to random events which capture public imagination. In business ethics, what was good is becoming bad and what was considered bad is now good. Standards for business ethics that have worked for decades are looking old fashioned or immoral while other practices that raised questions are becoming totally acceptable.So what is going to happen next in business ethics? How can corporations use business ethics to restore confidence and protect themselves against tomorrow's headlines? What will be the new "Gold Standard" for business ethics and corporate governance? How much further than legal minimum requirements for business ethics should corporations go to ensure sustainable success?* When business ethics goes wrong who gets blamed?, * Impact of media allegations of dishonesty, fraud or corruption of senior executives or directors - and how to protect business ethics reputation , * Why goalposts for business ethics will go on changing, and how to get ready, * Urgent need for all business ethics to be whiter than white, with unquestionable corporate governance and risk management, * Ensuring business ethics compliance - board duties of care and responsibility in the future?, * Defining clear areas of business ethics responsibility of boards and directors, * Using business ethics to balancing interests of different constituencies and stakeholders, * Why we have to separate board scrutiny role from management power, * Ethical / society responsibilities of directors and large investor "owners" , * Independence of audit, nomination and remuneration committees?, * "Duty of curiosity" by directors to ask very awkward and sensitive questions, * Improving quality and flow of information within a corporation's governing structureWHY WE GOT IN SUCH A MESS, Free market ideology was that corporations were kept responsible to customers, shareholders, workers and society by customer and investor behaviour, seen in share price. Millions of individual "voters" in the market place ensured they behaved. "Bad" corporations were punished by selling. "Good" corporations" were rewarded by buying. "Market forces will sort it all out". This ideology weakened the idea of business ethics and accountability.WHY WE STILL CAN'T TRUST THE NUMBERS, * Conflicts of interest remain in all audits even where consulting links are abolished, - Concerns that some auditors are looking for jobs in the companies they audit, - Auditors under pressure to get next year's audit business , - Old accounting standards do not always give fullest picture, - Globalisation and e-technology are making reliable audits extremely difficultEXPECT MORE CONFLICTS OF INTEREST AMONG GLOBAL AUDITORS, Consolidation at top end of professional service organisations means global players are running out of firms to approach to provide independent advice over large complex deals,

* Conflicts of interest are growing rapidly - made worse by the collapse of Arthur Andersen, with companies in danger of representing the interests of more than one party , * Expect future accusations of breaks in "Chinese walls"TRUST TAKES YEARS TO WIN AND HOURS TO LOSE, System of business ethics must win trust of the international community, * Steps to rebuilding trust in the corporation, - T ransparent - totally open, going beyond current requirements or expectations, - R esponsible - clearly acting in the broader and longer term interests of all, - U ncompromising - total commitment to highest moral positions, - S uccessful - great results combining excellence in all areas with strong values, - T emperate - taking care to avoid major risks, wild decisions and extravaganceCEO CONFLICTS OF INTEREST MUST BE DEALT WITH, * Making decisions that benefit the CEO at expense of the future of the company, made worse by the large stock options given and other triggered incentives, , * Hiding how much the CEO takes - non-recording of stock options as an expense, overly-complex complex reportingACCOUNTABILITY CONFLICTS FOR STAFF, The fundamental issue at the heart of many recent scandals, * "I did what I was told" - , * So who do you serve? Your boss? The boss of the boss? CEO? Board? Shareholders? Customers interests? General public? Courts of law? Your own conscience?, * Extreme pressures on employees to toe the official line, * Harassment and threats by people representing huge powerHOW CONSULTANTS AND ADVISERS GET COMPROMISED, Who is the consultant or adviser accountable to if things are discovered?, * To the individual who set up the arrangement and is asking for the advice (who may be part of the problem)? His or her boss? The CEO? The board? The shareholders? The government? Consumers? The public? Who do you tell and when?, * What are the limits of confidentiality in consultancy?, HOW THE MEDIA CAN BE COMPROMISED, * Media investigation should be a powerful corrective force, exposing wrong-doing, but media depends on advertising. Dangers of alienating big funders of media companies., * Media is also sensitive to news manipulation and lobbying, including benefits for journalists writing stories, * Need for transparency - declaring interests of journalists and editorial team including those of the owner(s)HOW GOVERNMENT CAN BE COMPROMISED, * Lobbying budget in US greater than GDP of 57 nations, * Over 100 lobbyists per Member of Congress, * $5bn a year industry designed to create new laws or regulations, change existing ones, limit corporate liability, create barriers to entry for competitors, change who gets elected, * Potential for corrupting the democratic purpose, * US Government shell-outs to business are worth more than $300bn a year, * Selective tax breaks, trade policies and spending programmes are all sensitive areas, * Risk of corruption and danger of distorting free marketHOW CORPORATIONS CAN OUT-GUN GOVERNMENT LAWYERS, * Government will increasingly target corporations as well as individuals with legal action, * Large corporations have deeper pockets than legal budgets of government, * They often get better quality representation from huge heavy-weight teams"SUCCESS PLUS" - Doing great things in the right way, Success itself is being redefined - fundamental rethink about the purpose of corporations. Corporate responsibility will be far more widely interpreted. REAL SUCCESS will be everything

we have previously taken for granted in high performing companies PLUS the highest ethical standards in all areas.BUILDING A BETTER WORLD - core value and universal slogan , Corporations will be expected in future to "build a better future" - not only for their shareholders but also for their customers, workers, business partners, community, nation and the wider world. Those with effective business ethics based on this core value will have an added competitive advantage: attracting and retaining talent and generating positive reactions in the marketplace.,Related issues to search for on our site:Business ethics, business ethics articles, business code ethics, ethics in business, business ethics cases, a definition for business ethics, ethics of international business, article on business ethics, business code of ethics, corporate business ethics, international business ethics, business and ethics, business ethics in the workplace, articles on business ethics, business ethics case studies, articles about ethics in business, ethics and business, social responsibility ethics in business, good codes of ethics in business, business ethics magazine, what is business ethics, ethics business, lack of ethics in business.Business articles ethics case, codes of ethics in business management, importance of ethics in business, code of ethics , small business, business ethics in accounting, case studies on business ethics, business ethics in international business, japanese business ethics, international business ethics articles, canadian business ethics, importance of business research ethics, business ethics article, ethics in business research, business ethics case analysis, business ethics survey, what are business ethics, good business ethics, define business ethics, christian business ethics, business ethics magazine articles, business ethics reports, mba essays business ethics, ethics business law, business ethics kant, definition of business ethics, business ethics pros and cons, code of business ethics, international business code of ethics.Enron, christian, management, human resource management, risk management, scams, office of personnel management, total quality management, change management, management training, corporate gifts, illegal, integrity, performance management, values, enron scandal, business management, corporate governance, internet scams, management skills, conflict management, management styles, quality management, work at home scams, morality, corporate culture, corporate social responsibility, director, operations management, event management, scam, corporate identity, board of directors, enron bankruptcy, crisis management, email scams, history of enron, financial management.Corporate law, crisis intervention, directors, corporate scandals, corporate branding, worldcom scandal, corporate strategy, key performance indicators, corporate ethics, corporate hospitality, corporate fraud, accountability, martha stewart scandal, corporate bankruptcies, corporate crime, crisis, corporate finance, honesty integrity, corporate responsibility, accounting scandals, corporate charter, scandals, business corporate gifts, corporate gift, nigeria scam, nigerian scam, corporate philanthropy, corporate awards, corporate team building, scandal, e-mail scams, corporate downsizing, stakeholder analysis, corporate image, corporate web site.Corporate sponsorship, corporate corruption, stakeholders, business corporate social responsibility, enron collapse, corporate greed, corporate wellness, credit card scams, corporate resolution, ebay scams, corporate annual reports, business scandals, money making scams, stakeholder, car dealer scams, corporate compliance, chairman of the

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consuming patterns are transforming dramatically due to pollution alertness. As the result, business culture is challenged by this alteration. The main worry that is hoisted by the society is the relationship of businesses with environment which is social responsibility. A term entitled sustainable development has been created. According to World Commission on Economic Development (Bansal, 2001), sustainable development is the merging of the needs of the present and the future. This essay will argue businesses are growing increasingly aware of the social responsibility and that a business can still be environmentally responsible and make profits in the same time.Facing crisis of resources depletion, businesses are becoming more aware of social and environmental responsibility. This can be observed with the execution of sustainable development frameworks by businesses at different level.Business awareness of social responsibilities can be evaluated through their different levels of commitments. Hierarchy of ethical behavior (Raiborn and Payne, 2001) demonstrates intensity of business participation in the sustainable development that is broken into four core levels attainments: basic, currently attainable, practical and theoretical levels. Each level is gradually more concern with sustainable development than the previous levels.At the basic level, businesses accomplish minimal ethically acceptable behaviors which only fulfill legal responsibility which is necessitated by laws. Money spent on environmentalism is viewed as a cost as an investment. (Raiborn and Payne, 2001)Businesses discern at currently attainable level would accomplish activities above legally mandated and focus on the public image of "environmentally friendly". By doing sustainable development, they thirst for certain short-term benefits, such as cost diminution, revenue enhancement and reputation improvement. (Raiborn and Payne, 2001)Followed by current attainable level is practical level which is slightly different from current attainable degree. Businesses identify the need for environmentally friend products and production methods. They are motivated by a true concern of the environment. (Raiborn and Payne, 2001)Last, the highest ethical behavior order is theoretical level that is an arduous task to accomplish. Businesses regard sustainable development as a fundamental part of their business strategy and core values. They are motivated by the long run environment protection and cost efficient. (Raiborn and Payne, 2001)Practical and theoretical levels truly assist sustainable development, as they are honestly concern with the environment. They are not unfeasible to achieve. Body Shop is a business manifestation contributes in practical level. They sell no animal testing products which is favorable in market that turns environmentalism into profit. (Raiborn and Payne, 2001) In addition, BMW obligate sustainable development to core commission that deliver an inventive scheme of product takeback activities to protect environment by reducing physical wastes and recycling components. The company spotlights on the future constraints that need of sustainable development to win competitors regardless development of leading position. That is a proactive example of business operating at theoretical level assist in building market advantage and leadership position in automobile disassembly. (Day, 1998)Businesses can still be environmentally responsible and make profits in the same time through the adoption of various sustainable development approaches. The main driving

factor for firm fulfills sustainable development is profit-generating. The benefits associated with sustainable development are lower risk, building competitive advantage and stakeholder dedication. (Bansal, 2001)The rewards combined with sustainable development can be divided into short-term and long term benefits. In short term, company bestead lessen risk and lower production cost.Firms can lessen risk in short term by complying law and regulations. Through carried out legislative responsibility, they can avert government monetary punishments on non-compliance. MacMillian is outstanding evidence shifting its environmental awareness results in earning benefits. Being criticized by consumers and government in the past, they adjusted focus on the long-term benefits by replacing cut-off trees with establishing tree plantations. The cost of operation fell by ten percent due to plantation measure. (Bansal, 2001)Taking sustainable development organization will benefit from increasing productivity from lower production cost and enhancing efficient allocation of resources in short term financial advantage. (Bansal, 2001) 3M's Pollution Prevention Pays program is the first successful example which was presented by Bansal (2001). It adopted strategies that create many different ideas to decrease its production cost and to improve pollution level. He also mentioned that 3M did not make losses for preventing pollution and as it minimized cost at the same time. Gradually, low production cost and efficient allocation of resources will develop competitive advantages for the firm that company will avail in long term benefits.Companies in long term will engage internal reward with adopting sustainable development. As goodwill is built due to adopting sustainable development, the psychological needs of employees is improved caused lower absenteeism, reduced labor turnover and easier recruitment. The various advantages discussed above, business can acquire advantages from different dimensions. (Bansal, 2001)Two paths suggested by Bansal (2001), business can balance social responsibility and profit making process by implementing practical and theoretical behaviors; they are product stewardship and process improvement.Firm implement product stewardship would involve both short-term and long-term benefits, for instance, better goodwill and high profit generation; however, it is the most risky approach. Product stewardship involves building process efficiency and product enhancement (Day 1998).Process efficiency provides short-term benefits to firm that operation cost will reduce due to waste reduction. Product enhancement focuses on the long-term benefit that helps in extending product durability and service intensity can maintain sustainable development. (Day 1998) These tasks are complex to achieve because it involved with large capital. Xerox is an example of product enhancement that recommended the method of recycling products. This company used materials which could be reused and recycled therefore it concentrated on the product design and the process improvement. The purpose of its action was to expand the life of products for environmental protection (Bansal, 2001). Moreover, social responsibility can be implementing through more environmentally and socially process improvement which lead to increase customer support. Starbucks case illustrated by Bansal (2001) is a significant model of improvements in manufacturing processes. It advocates fair trade policy to protect coffee producers getting a fair price for harvests. It is an example of theoretical behavior too. In addition to protection coffee

farmers' right, the action done by Starbucks have the positive outcome to the coffee industry. The action helps them build the competitive advantages over their competitor which led to tough market positioning.To conclude, businesses are typically motivated by profit arising from the operating process. Their ethical behaviors are directly connected to future environmental developments behaviors. With sense of recognition trend of sustainable development, companies are more aware social and environmental development than the past through observed daily practice. It is a tough task for small business to achieve sustainable development; I recommend small firms can move their ethical behaviors along with their business growth by centralizing the short term vision to long term vision. Although taking these responsibilities may sound stressful, actually profit could still be made. The examples of 3M, Xerox and MacMillan Bloedel have proven that just using appropriate strategies could protect the environment and get revenues. Thus, all businesses should always concern about and fulfill their social responsibilities

Corporate Social Responsibility or CSR covers all aspects of corporate governance. It includes information on how companies conduct their business in an ethical way, taking account of their impact economically, socially, and environmentally. CSR includes relationships with employees and customers. Increasingly companies have to take account of how their actions impact on society. Branding or creating an image has become an important way to add value but it also bring scrutiny to the forefront.The role of HR in an overseas operation would be to ensure CSR is embedded in an organization’s culture to make a change to actions and attitudes, and the support of the top team is critical to success. HR is also responsible for the key systems and processes involved with delivery of the CSR program. Through HR, CSR can be given credibility and aligned with how businesses run. CSR could be integrated into processes such as the employer brand, recruitment, appraisal, retention, motivation, reward, internal communications, diversity, coaching and training.Corporate social responsibility is not solely about doing the right thing, but it also offers direct business benefits. Having a reputation as a responsible business places a halo over organizations, because many consumers prefer to buy from ethical businesses (i.e.: business to business, business to supplier, business to customer). Moreover, a good reputation makes it easier to recruit good employees as well as reduces the risk of sudden damage to reputations and sales.In my opinion, corporate social responsibility is some instances can reflect an oxymoron, because the central concept and duty of corporations is to maximize shareholder wealth – sometimes in disregard to consumers’ well-being. According to Martin (2002), “the interests of shareholders and those of the larger community are not always opposed, of course. Corporations often willingly engage in socially responsible behavior precisely because it enhances shareholder value. They choose to undertake philanthropic activities such as supporting local museums or soup kitchens because management believes such activities create goodwill among customers in excess of their price tag.” Thus, many corporations practice social responsibility. For example, the NBA with their commitment

to feeding the hungry and other charities is a prime example of a mega-corporation getting involved and taking social responsibility.I researched the CSR information for two organizations, Dynacare Laboratories and Medical Diagnostic Laboratories (LapCorp) , LLC. LabCorp’s website presented limited information but the following statement,As LabCorp continues to experience steady positive growth and build upon its industry leading scientific expertise, we remain committed to the sound principles of corporate governance. Our corporate governance standards not only dictate our internal conduct they also guide our external business practices with customers, shareholders, scientific partners, as well as other companies within our industry. LabCorp is committed to building upon its history of corporate integrity, and the highest standards of honesty and reliable business conduct. At LabCorp we work to nurture an ethical culture within our company and maintain a workforce that firmly embraces our company Standards of Business Conduct. Dynacare has several documents laying out their CSR approach, of those the most interesting was their “VALUES”. Is Good Ethics Good Business?While it might seem difficult for a business to practice good ethical conduct and still be successful, consumer advocates for good ethical business practice have established that the successful business is a "good business" founded on good ethics. In considering the pros and cons of good ethics within the business place, it is imperative to understand; 1) what good ethical practice is, 2) how good ethical practice relates to good business practice, and 3) what the distinction is between good ethics and bad ethics in relation to business practices.Good ethical practice is the process of consistently behaving in a manner that is beneficial to all people. The concept differs from good moral practice, in that it begins with notably high moral values, yet extends beyond personal characteristics and immoral consequences. To express ethical integrity, one must question the reasoning of a situation, rather than the right or wrong of it. These beneficial considerations guide the person to a discerned understanding, rather than simply accepting the customary codes. Arriving at a virtuous ethical decision requires the individual to examine choices that are good for all people. Conversely, bad ethical thought processes are likely to occur when individuals are aware of the traditional moral codes; however, they feel that superior benefits are somehow deserving to them. This selfish disregard of the good of all people leads to a type of corrupt ethical reasoning. The result is a perfusion of infectious thinking.The relation between good ethical practice and good business practice follows suit. Ideally, individuals within the company transfer a good ethical thought process to action, since these individuals cannot disconnect their personal ethics from their organizational ethics (5). It is essential, however, to establish good ethical practice as the foundation of good business rather than merely an application. Furthermore, good business practice encompasses the idea that the enterprise is a member of a business society and the surrounding community expressing concern for the well being of others. When a company believes that they are a part of the "big picture" or a part of the "family" of other businesses, they are more likely to feel responsible for the care of the "big picture" or "family" (39). Although a solid foundation and a belief in community values support good business practice, the difficulty arises when a situation presented requires decisions to be selected from alternatives that are neither entirely right nor entirely wrong. These

types of decisions require the organization to revert to considering the good of all people and accepting a decision that is made to the best of their ability.The distinction between good and bad ethical practices within the business environment is not always clear. While ethical business practices usually directly effect the bottom line, bad business practice may not always be financially detrimental to the company (43). Hopefully, most disrespecting organizations find that bad business ethics are much more damaging than a badly run business. In Moral Issues in Business, "The Three C's of Business Ethics" epitomizes the distinction between good and bad ethics within business practice. These ethical considerations include 1) compliance of rules, laws and policies, and the customs of the society, 2) the contributions that can be made to society through the business, and 3) the consequences of the business activity (37). Organizations that do not apply good business practice such as the "Three C's" will ordinarily be unsuccessful in building a trusting clientele. Consequently, business ethics can be strong preventative medicine.Regardless if the consumer of a business is a government entity, a hospital, a corner market or an elderly woman, and regardless if the commodity is a service or a product, these customers are advocates of good business practices. This has been shown throughout history as countless regulations and standards are regularly developed to protect consumers from unethical business practice. The business that establishes its foundations on ethical grounds is likely to promote consumer convicThere are several factors that shape diversity in my workplace.

Diversity can be a beneficial attribute or can cause dilemmas in the workplace. At This ‘n’ That all the various factors of diversity are present, embraced and accepted. All of our staff at This ‘n’ That has value for one another and are seen as equals. This allows for unproblematic diversity in our workplace. The main factors that create diversity in my workplace are age, race, and religion. My organization has employees from the age of 19 years old to the oldest of 67 years. I have yet to see that gap in age cause any conflict, if anything the age difference allows for constructive criticism and encourages growth as an organization. Race and religion allow for different view points which help form our workplace in an optimistic way. Diversity is about learning from others who are different (Schmidle, 2009). Diversity is dignity and respect for all, and about establishing settings and practices that encourage learning from others and capture the advantage of diverse perspectivestion and likewise find success.

ContentsBusiness Ethics compared in three countries: U.S.A., Hong Kong, and Russia.1.Introduction2.Issues3.Importance of issues4.Advantages/disadvantages of the presence or lack of business ethics5.Safety, ethics, welfare6.Comparison of ethical business in several countries7.Conclusion--Which country is the leader of business ethics

Three Main Issues:1.What is the current knowledge and participation of each country of business ethics?2.How do the countries use business ethics to their advantage?3.What is the International Code of Ethics?A Code of Ethics is a business or an organization's policy applicable to all its activities and relationships. It should identify principal responsibilities its stockholders, shareholders, employees and communities. Its main function is to provide guidance in cases of moral dilemmas. Many corporations have implemented codes of conduct that define unacceptable behavior and serve as a guideline for the practice of ethical conduct. This is a step in the right direction, but it is not enough for an organization merely to have written codes of ethics. Many business organizations are also taking a more proactive position in the area of promoting the practice of ethical behavior. To reinforce the organization's values and standards, ethics training programs should be held on a regular basis rather than being a one-shot deal. Business ethics should be practiced in every country around the world. The United States, Hong Kong and Russia are several countries that will be mentioned that practice business ethics.In The United States, business ethics is a topic that businesses are becoming more aware of. An article in USA Today Magazine in January 1998,states, "Companies are discovering the value of ethics". The discussion of ethics in the business world goes hand and hand with the term, profit. It was thought that the more ethical a business is, the less profitable it is; the more profitable, the less ethical. In recent times, there is a positive relation between ethics and profit. Ethics serves as a foundation for the success of businesses. An ethical company provides a moneymaking opportunity and can be the source of a competitive advantage.Employee and customer theft is a major problem for businesses, as a shrinking on the job and declining work ethic. A culture in which drug abuse certainly does not help minimize the problem of theft, businesses are ultimately forced to administer drug-screening tests. The expenses for the drug tests incur great costs for the businesses. Employees with the right values would not need to take the drug testing, thus the company would save money. Consequently, employers will try to hire employees who statistically are more likely to be honest. Ethical behavior is like a virtuous cycle between the customers, employees, and suppliers. As a company builds trust, customers, employees and suppliers are less likely to act immorally. Another benefit of ethical behavior is that it provides a solution to what theorists call "collective action problems". A way to tackle the problem is to provide incentive so that the cost-benefit ratio is reversed. In certain situations, production of goods or services requires a team effort so that the individual contribution of each team member cannot be isolated or measured. Any team member who acts in a purely self-interested manner would free ride off the others. The benefits of group activity are optimized only when free riding does not take place. When team members or work associates are bounded by trust and respect a common value will be present.Another benefit of ethical behavior is that it preserves the social capital that makes a free market possible. A market coexists with many other institutions in society, including: the family, the church, and the political, criminal justice, and educational systems. Each of these institutions contributes toward making capitalism possible: The court system enforces contracts; the political system provides monetary stability; and the educational system trains future employees and prepares them for the workforce. Corporate

misconduct raises the cost and reduces the amount of social capital. The more businesspeople try to avoid the terms of their agreement, the greater the number of disputes that end up in court. Increased government activity adds to the cost of government. A market system needs moral capital as well. If capitalism is to be successful, there must be a widespread acceptance of certain moral norms, such as truth telling, and fair play. "As more and more people abandon these moral forms, the social capital that makes market activity possible, is depleted", as stated by Norman Bowie.Bowie also states, "America is obsessed with quarterly reports -one that forces managers to focus on the short run, rather than the long run." If corporations took the moral point of view, they would focus on meeting the needs of their stakeholders and focus on providing secure work for their employees and quality products for customers. If this were done, profits would follow. American capital differs from the capitalism in other countries. Ethical behavior can lower costs, increase productivity, and preserve the social capital that makes capitalism possible. It is in the nations' interest to ensure that American capitalism is a leader in ethics as well as in product development. To help promote mutual understanding between the people of Hong Kong and foreign countries, as well as the development of business relationship, several major foreign countries have established their own chamber of commerce. "More recently, the ICAC and six chambers of commerce joined hands to boost corporate education as a way of increasing awareness of ethics in business." The result was the founding of the Hong Kong Ethics Development Center in 1994.Among those foreign chambers of commerce, the American Chamber of Commerce has been playing an active role in promoting worker welfare and safety, and business ethics. The American Chamber of Commerce was an active participant in the establishment of the Hong Kong Ethics Development Center. "The American Chamber of Commerce is the only foreign chamber of commerce which incorporates the codes of conduct as part of their position paper." Although the basis brief of Hong Kong Independent Commissions Against Corruption (ICAC) is to fight corruption, it also helps firms devise codes of ethics. To those international firms with an attempt to set up their Codes of Conduct in Hong Kong, the ICAC provides some advice regarding the basic concepts and contents. Honesty, integrity and social responsibility must be included in the Codes of Conduct.A study surveyed 197 second-year students who attended an international business course in an institution in Hong Kong, both at the beginning and the end of the term. Active learning about business ethics displayed significant effects on later ethical reasoning and judgment. A proactive finding is that business students learned business ethics to a lesser extent than did other students. The relative ignorance of business students needs special concern for enhancing their awareness of business ethics.Although female students were significantly more ethical in exhibiting judgments than male students, they learned about business ethics to a lesser extent. Female students should be of particular concern for promoting their ethical development through business ethics education."Known as an amoral society, Hong Kong tends to be at risk for problems of business ethics." "A study found that business students in Hong Kong were less ethical toward customers than Taiwanese and Japanese counterparts." With the help of The American Chamber of Commerce and the Hong Kong Ethics Development Center, the people of Hong Kong will be on their way to succeed in becoming a more ethical nation. Perhaps,

the surveys taken in the future will show outstanding results from Hong Kong's ethical improvements.The Hong Kong Institute of Land Administration has established their own code of ethics, which have twelve guidelines, which are as follows:1.This Code is meant to ensure the professional competence and integrity of all members in providing their services to the client or the general public.2.Members should devote their utmost effort to become competent by qualification and experience to perform services, which they are appointed to take. Furthermore, they have to constantly update and upgrade themselves in new developments, law and technologies to cope with the changing demand, practice and procedures, and Government policies.3.Members have a duty to contribute towards the improvement of professional standards and the training of their staff as well as any other people interested in the profession through career development, lectures or running courses, etc.4.Members shall endeavor to co-operate with other professionals, disciplines and individuals so as to achieve optimum results in respect of their tasks and assignments.5.Members should not take part in any business, malpractice or any act of misbehavior, which may cause an adverse effect on, or damage to the public image and reputation of the Institute.6.Members should not get involved in any suspected or known illegal dealings especially in connection with their profession or duties. They have the obligation to uphold justice in land administration and in providing their professional services.7.In the event of any controversies occurred between members of the Institute, the respective Committees of the Council, or the full Council of the Institute should settle them either between themselves or without involving any non-member third party, outside bodies or the public media to safeguard the professional reputation of the Institute.8.Members should not publicly criticize their fellow members of the Institute without the explicit consent given and in a manner approved by the Chairman in Council Meeting.9.No member shall injure falsely or maliciously, directly or indirectly, the reputation, prospects or business of other members.10.Any member charged under the prevailing laws of the Hong Kong Special Administrative Region (HKSAR) in connection with his/her professional activities or duties whether or not involving the Institute shall report the occurrence forthwith to the Institute.11.Members must disclose to their employers or clients any personal or conflicting interest involved in the course of performing their duties or assignment. This also covers any benefit gained from a third party even not in breach of their professional responsibilities. If they are acting for their company, then any conflicting interest with other client(s) shall be disclosed to the client.12.Members must protect the privacy of any data provided by or belonging to their clients for the sake of professional integrity as well as compliance with the relevant legislation of the HKSAR."Internally, a Code of Ethics conveys to all staff a clear idea of the accepted conduct for achieving business goals." It also helps maintain consistent standards of behavior throughout the company. Externally, the Code of Conduct enhances a company's reputation for fair and responsible dealing. "It also strengthens Hong Kong's reputation as

an international business center where honesty and fair play prevails." An effective Code of Conduct reduces costs and enhances profits because: it reduces incidents of corruption fraud and other malpractices, it reduces conflict if interests situations, it enhances the trust of your customers, suppliers and contractors. It enhances the credibility of your buyers and salespersons; it enhances the loyalty and goodwill of your employees and other stakeholders. Individual companies as well as the Hong Kong business community continue to enjoy a reputation of honesty and fair play. Another country that is practicing business ethics is Russia. Although many people still view Russia as a corrupt country it is trying to modernize in the business world as compared to Hong Kong and the United States.Corruption has become a way of life for Government officials in Russia. Bribe taking, in fact, is a widespread practice throughout the Russian bureaucracy. A number of U.S. and other Western businesses and businessmen routinely pay bribes to Russian Government officials in order to conduct their businesses in Russia. "Indeed, the most prevalent crime in Russia today is bribery". "Of those charged with bribery and corruption in Russia in 1993, over forty-two percent were Government officials and over twenty-five percent were law enforcement officers". Not only do Russian officials routinely accept and even demand bribes, they have also entered into an illicit partnership with organized crime and with clandestine business groups. "Former Communist apparatchiks, who continue to work within the Russian bureaucracy, exploit previously made black-marketers relationships to profit in the new post-Revolutionary Russian system."Not only does the Mafia kill and steal in Russia, it does so in the United States as well. "The Russian Mafia is increasingly engaged in crime in the West." Mafia members are involved in "theft, extortion, money-laundering, gun-trafficking, drug running, prostitution, smuggling, loan sharking, contract killing and more. The U.S. Department of Justice (DOJ) has established task forces to deal with the Russian Mafia in New York, Los Angeles, and Miami. Thus, U.S. businesses that pay bribes and protection money in Russia may be unintentionally financing Russian criminal activity back in the United States. "Bribe-taking is standard practice among Russian Government officials, a fact of which the Yeltsin Administration is well aware." In 1994, the Yeltsin Government reported that seventy to eighty percent of private businesses were paying extortion money to organized criminal gangs. Eighty percent of all U.S. businesses in Russia have bribed a Russian government official at least once. It is not uncommon for businesses in Russia to employ assassins in the collection of business debts. " In 1993, organized crime controlled forty percent of the turnover in goods and services in Russia, according to the Russian Ministry of Internal Affairs." Moreover, the growth of organized crime has severely hampered the growth of private small businesses in the Country. The success of Russian democracy represents a fundamental pillar of U.S. foreign policy. The U.S. Government spends millions of U.S. tax dollars to promote democratic and market, economic reforms in Russia. Meanwhile, U.S. businesses and businessmen who pay bribes to Russian Government officials may be unwitting supporters of organized crime in Russia. More importantly, bribery of Russian Government officials undercuts efforts to create an open and democratic government in Russia. On the brighter side the Russian Government is taking action to control the ethical standards of the country.On November 8, 2000, the first Center for Business Ethics (CBE) in Russia was officially registered in St. Petersburg. The new Center evolved out of the private sector voluntary

initiative, the "Declaration of Integrity in Business Conduct in St. Petersburg", supported by over 130 leading companies in the community."The Center for Business Ethics has two founding partners: a US company "Sovereign Ventures, Inc." and a Russian firm "Bronze Lion". The main counterpart of CBE is the Ethics Resource Center (ERC), headquartered in Washington DC, with over 50 years experience specializing in consulting businesses on corporate culture." The mission of the newborn organization is to institutionalize ethical business in St. Petersburg. CBE provides an anti-corruption toolbox for businesses from ever industry operating in the region. Members of the new Center can obtain the following services: assistance in development a company's code of conduct, advice on the effective ways of repudiation of bribery, hints on fair tax payment, development of ethics training programs for employees, publicity for ethical leadership, raising issues connected with business ethics a given industry branch. They can also network with other ethical businesses and thereby find natural partners for growth."The Center for Business Ethics is a response to demand from local and government business leaders who founded the "Declaration of Integrity" for a non-profit organization that could sustain a variety of new programs designed to create a culture of ethics compliance in St. Petersburg." - says Matthew Murray, President of "Sovereign Ventures, Inc.", who will also serve as the first President of the Board of CBE.The team of business ethics experts working for the Center consists of several Russian attorneys, a senior accountant and a journalist. They have been professionally trained by in the US at the Ethics Resource Center or other organizations in international practices of business ethics. The 6 experts include: Anna Ossipova (director), Anton Andreyev (ethics consultant), Elena Fedyushina (ethics consultant), Alina Mitzkevich (ethics consultant), Natalya Clark (PR manager), Oksana Trofimova (senior accountant). The first project launched by the Center for Business Ethics is an "Island of Integrity" designed to promote open tenders in the construction business and attract further investment to St. Petersburg. "It has been less than one week since our Center was opened, and the Open Society (Soros) Foundation has offered CBE a grant for the "Island of Integrity". - Announced Anna Ossipova, Director of CBE- "It shows that the momentum behind voluntary initiatives to undertake honest business is growing".The Saint Petersburg Ethics Center proposed the development of the St. Petersburg Ethics Center (SPEC). The organization's mission will be to help cultivate the social capital or core values. SPEC will create the institutional framework to ensure sustainability of business ethics initiatives in the city. It will locally develop and retain important skills and capacities. The organization will serve as the legal framework to raise local and international funds in support of its programs. It will become a resource for the community at large, and the champion of the ethics dialogue in St. Petersburg. Specifically, SPEC will initially undertake a variety of proactive business ethics and anti-corruption initiatives and programs such as: Promoting the declaration of integrity; providing training, education and technical assistance; fostering dialogue about ethics education at the university and professional levels; assisting professional and trade associations to develop codes of conduct, ethics programs and enforcement infrastructure for their membership. Other programs include: increasing awareness about corruption and the strategies to fight it; identifying concrete steps to encourage public-sector reform and conduct research and generate new learning. "The new learning generated through

these activities will then inform the work of SPEC through the creation of culturally relevant approaches and strategies for the other programs of the organization."Government corruption in Russia is a historical burden on economic and political modernization. Russia must find its own path to root out corruption, using the multitude of positive values and ethical traditions found in Russian culture. They are beginning a long-term process to integrate their strong moral traditions with international standards of business ethics. The present project is designed to sustain these accomplishments by developing and launching SPEC to institutionalize ethical business practices between businesses and government officials in ST. Petersburg and other regions of Russia