MESSAGE FROM THE PRESIDENT

Widespread changes in the technology, methods and scale of business raise ethical issues to which legislation and experience cannot provide all the answers. Society is getting increasingly concerned and there is growing involvement with business ethics in political, academic and theological areas.

Trade and industry must be aware and react positively to these concerns. There is also the need to promote solutions which combine social responsibility with practicality. Otherwise, business can find itself constantly on the defensive against well meaning but inappropriate solutions.

One of the most important aims of a business chamber should be to emphasize on the ethical nature of wealth creation, encourage companies to promote highest standards of ethical behaviour and demonstrate that business ethics involve positive initiatives as well as constraints.

CODE OF ETHICS

 It is believed that the best way of promoting high standards of business practices is through self-regulation.

Business should be conducted in a manner that it earns the goodwill of all concerned through quality, efficiency, transparency and good values. This Code has been designed as a voluntary guideline to achieve these objectives.

• Be truthful and realistic in stating claims.
• Be responsive to customer needs and concerns.
• Treat all stakeholders fairly and with respect.
• Protect and promote the environment, conserve water and power and community interests.
• Be law abiding and do not suppress the truth howsoever unpleasant it may be in the short run.

SEVEN STEPS FOR IMPLEMENTING THE CODE

 Integration and Endorsement

Evolve a strategy for integrating the Code into the running of business at the time that it is issued. Make sure it is endorsed by the CEO.

Distribution

Send the Code to all employees in a readable form and give it to all employees joining the company.

Breaches

Include a short section on how an employee can react if he or she is faced with a potential breach of the Code or is in doubt about a course of action involving an ethical choice.

Affirmation

Have a procedure for managers and supervisors regularly to confirm that they and their staff understand and apply the provisions of the Code and raise matters not covered by it. They should suggest its updating.

Contracts

Consider making adherence to the Code obligatory by including reference to it in all the contracts of employment and linking it with disciplinary procedures.

Training

Ask those responsible for company training programmes at all levels to include issues raised by the Code in their programmes.

Nurture

Nurture the talent of employees to get the optimum performance, treat them fairly and with respect.