Evaluating a Business Code of Ethics
Evaluating a Business Code of Ethics
Michelle Leonhardt
University of Phoenix
Ethics in Management
PHL/323
Dr. John Rhome
Evaluating a Business Code of Ethics
Businesses in today’s society share a purpose, a vision, that relates philosophy and principles of ethics to better meet the needs of the organization and stakeholders, including customers, employees, shareholders, suppliers, and communities. Without professional ethics, businesses and its programs would not have the ability to be successful. This paper will examine Humana, its business code of ethics, and its mission statement that assists in organizational values and goals of the company. The type of ethical system used by Humana will be explored, along with examples that support this system and its attributes. In addition, how the code of ethics is identified and used within the company will be addressed as it pertains to employees, management, and its board of directors. Upon further evaluation, this paper will explore the need for modification, if any, to their existing code of ethics. Reactions to the code of ethics, its effects of organizational culture on the code of ethics, and its effects on the organization will be defined. Lastly, this paper will provide an analysis of Humana’s business code of ethics and how the analysis exhibits significant key concepts to maintain and promote ethical decision making and business success.
Business Code of Ethics and its Mission Statement
Businesses developed codes of ethics starting back in the early 1970s within the United States. Business ethics “is the study of standards of business behavior which promote human welfare and good” (Santa Clara University [SCU], 2011, para. 1). Humana, a company that provides and administers health insurance plans, established its formalized code of ethics in 1995 and since established a 24-hour access to their ethics assistance hotline demonstrating its commitment and accessibility to business ethics (Humana, 2011,
Michelle Leonhardt
University of Phoenix
Ethics in Management
PHL/323
Dr. John Rhome
Evaluating a Business Code of Ethics
Businesses in today’s society share a purpose, a vision, that relates philosophy and principles of ethics to better meet the needs of the organization and stakeholders, including customers, employees, shareholders, suppliers, and communities. Without professional ethics, businesses and its programs would not have the ability to be successful. This paper will examine Humana, its business code of ethics, and its mission statement that assists in organizational values and goals of the company. The type of ethical system used by Humana will be explored, along with examples that support this system and its attributes. In addition, how the code of ethics is identified and used within the company will be addressed as it pertains to employees, management, and its board of directors. Upon further evaluation, this paper will explore the need for modification, if any, to their existing code of ethics. Reactions to the code of ethics, its effects of organizational culture on the code of ethics, and its effects on the organization will be defined. Lastly, this paper will provide an analysis of Humana’s business code of ethics and how the analysis exhibits significant key concepts to maintain and promote ethical decision making and business success.
Business Code of Ethics and its Mission Statement
Businesses developed codes of ethics starting back in the early 1970s within the United States. Business ethics “is the study of standards of business behavior which promote human welfare and good” (Santa Clara University [SCU], 2011, para. 1). Humana, a company that provides and administers health insurance plans, established its formalized code of ethics in 1995 and since established a 24-hour access to their ethics assistance hotline demonstrating its commitment and accessibility to business ethics (Humana, 2011,
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