CORPORATE BUSINESS ETHICS.
Category : Uncategorised
WHY HYDRO-UTILITIES IS EMBRACING CORPORATE BUSINESS ETHICS:
- It is the correct way to conduct business
- It brings out confidence within staff
- It allows us to be competitive in the market
- It encourages high performance & quality of work
- It stimulates growth
- It brings success and profitability in the long term
The Editor, 15 May 2015.
A renewed emphasis is being placed on company reputation and ethics. Organisations with a good reputation are more competitive as customers develop more trust in them and their products, as they draw the best and competent employees. There is also enough evidence to show that unethical practices, such as fraud, corruption and dishonesty, harm a company’s reputation. One tends to think of a number of large companies in Zimbabwe where fraud and corruption cases have been prevalent and how they, their customers and employees have been affected by the negative publicity. Smart, high-involvement and so called “high-road” organisations take care of their reputation because they realise it makes them more competitive and successful. Smart employees want to work for smart companies. A company with an excellent reputation not only has a better image in the market, but also attracts and retains better
Walking the path’ of sound ethical business practice not only gives an edge in today’s’ highly competitive global market place, but also helps to shape employee behavior giving them the confidence they need to discharge their duties efficiently and effectively. Core values for good business ethics include; commitment & passion to make a difference, healthy corporate culture, honesty and trust, sound strategies and vision, and strong leadership. The top five drivers of business ethics are corporate scandals, market place competition, investor demands, customer pressure and globalization. The real function of an ethics program is to promote professionals to do the right things efficiently, with purpose and be successful. Professional bodies stand in a unique position in the community and lead by example. They possess skills and qualities that nobody else has; they speak a specialist language; they are successful and stand out head and shoulders above the rest. More so, in a society like ours currently in Zimbabwe where fraud and corruption are rife; conducting business ethically makes people stand up and take notice. Small change leads to big change, and sooner we have a society and community doing the right things in the right way and contributing to a successful country.
Hydro-Utilities’ corporate governance charter underscores the propagation of sound business ethics at all staff levels and across its business operations, as the foundation upon which good governance and increased success can be realized. With Board endorsement, the firm is now in the process of developing its own ‘staff-driven’ Code of Ethics that will guide company share-holders, Directors, senior management and staff on All matters of importance, including shaping acceptable workplace behavior and taking care of stakeholder needs.
To date, the firm’s Directors have undertaken our Ethical Leadership Development Programme (ELDP) training, and all staff have gone through a series of training workshops meant to equip them with ethical skills that will help them resolve ethical dilemmas inherent in theworkplace and engage in ethical decision making. The visionary leadership at Hydro-Utilities is indeed reading the global marketplace accurately, and, so do understand that successful firms of the future will be measured more on their sustainability templates and their contribution towards improving the livelihoods of the people, besides growing shareholder value” – Bradwell Mhonderwa.