need to write a code of ethics for Westpac Bank. Code of ethics must specifically addess the following: Discrimination, Exploitation, Corruption, Dishonest and Fraudulant Behaviour, Whistleblower protection and Enforcement. The essay needs 5-8 peer reviewed journal references in Harvard style. Please see attached documents
W5_L_Ethics_Part_II_V1_MBA402_T1_2020 Ethics – Part II Week 5 Workshop MBA402 Governance, Ethics and Sustainability COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 WARNING This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (the Act). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Do not remove this notice. 2 The Pen is Blue Play Video https://youtu.be/PzbHAV21IqM https://youtu.be/PzbHAV21IqM https://youtu.be/PzbHAV21IqM • Do you agree with Ancient Greek philosopher Plato when he says: Small Group Discussion Honesty for the most part is less profitable than dishonesty. • In groups, create an innovative advertising concept for the Mitey Stuffed Crust pizza. You are an advertising executive for a prestigious advertising firm that specialises in television commercials for the food and beverage industry. The Pizza Hut franchise is about to launch a new pizza and has engaged you to create an innovative advertising concept for use in a television commercial. The new pizza is called the Mitey Stuffed Crust. It is essentially a normal pizza containing melted cheese and vegemite inside the crust. Small Group Challenge Adelaide, Australia 2017 Mitey Stuffed Crust Play Video https://youtu.be/AXMYfgRZsyY https://youtu.be/AXMYfgRZsyY https://youtu.be/AXMYfgRZsyY Honesty • Honesty means being honourable in principles, intentions, and actions. • It is about truthfulness and respectability. • Honesty enhances a company’s brand and reputation and assists in building long-term value for its investors. Truth in Advertising • In 2011, the Federal Court fined Harvey Norman $1.25 million for using advertising catalogues containing a fine print disclaimer that the prices in the catalogue were only offered at one Harvey Norman store, not all stores nationwide. Principle 3 3. Instil a culture of acting lawfully, ethically and responsibly Companies should act ethically and responsibly. Ethical and Responsible Action • Acting ethically and responsibly is about more than meeting legal obligations and involves dealing honestly and fairly with suppliers and customers. • This would include being honest in the marketing and advertising of products and services. Recommendations 3.1 & 3.2 3.1 A listed entity should articulate and disclose its values. 3.2 A listed entity should: (a) have and disclose a code of conduct for its directors, senior executives, and employees; and (b) ensure that the board or a committee of the board is informed of any material breaches of that code Code of Conduct • The code of conduct should clearly state the company’s expectation that all directors, senior executives and employees will act honestly and with high standards of personal integrity. Personal Integrity • Good corporate governance depends on the personal integrity of those on boards and in management. • Investor confidence can be enhanced if the code of conduct clearly articulates what is regarded as acceptable business practices for its directors, senior executives and employees. Leonardo DiCaprio Play Video https://youtu.be/dNCXRw8_7p4 https://youtu.be/dNCXRw8_7p4 https://youtu.be/dNCXRw8_7p4 • Do you agree with Plato’s student Aristotle when he says: Small Group Discussion That which is common to the greatest number has the least care bestowed upon it. William Forster Lloyd, Drummond Professor of Political Economy at Christ Church, Oxford, has a problem. For weeks now he has struggled to come up with a suitable metaphor for the over- exploitation of the world’s natural resources. He takes a stroll through the surrounding countryside to help clear his mind and passes by a pasture colloquially called “the commons”. The pasture is called this because it is common land and local farmers may bring their cattle to graze there as often as they like. He notices that “the commons” is currently overcrowded with cattle. It suddenly occurs to William that “the commons” may somehow be the metaphor for over-exploitation he’s been searching for. Small Group Challenge • In groups, help William come up with a metaphor for the over-exploitation of the world’s natural resources. Oxford, England 1833 Tragedy of the Commons • The tragedy of the commons is an economic theory of a situation within a shared resource system where individual users acting independently according to their own self-interest behave contrary to the common good of all users by depleting that resource through their collective action. Environmentalism • The tragedy of the commons can be considered in relation to environmental issues such as sustainability. • The commons dilemma stands as a model for a great variety of resource problems in society today, such as water, forests, fish and non-renewable energy sources such as oil and coal. Ethical and Responsible Action • Acting ethically and responsibly includes acting responsibly towards the environment. • This would include not only complying with environmental protection laws but also following environmentally friendly practices such as waste minimisation and energy-saving initiatives. Code of Conduct • The code of conduct should clearly state the company’s expectation that all directors, senior executives and employees will comply fully with environmental protection laws and follow environmentally friendly practices and procedures. Environmental Protection Law • Environmental law prohibits organisations from: o causing pollution. o creating an environmental hazard. o creating unreasonable noise or odour that will impact a residential area. Environmental Practices • Environmental practices create positive brand associations among consumers, politicians, and regulators. • They also anticipate regulatory trends and position the company favourably when such policies become law. • Employees have higher morale when they believe that what their company is doing is environmentally friendly. Ed Snowden Play Video https://youtu.be/6H4gioe5aWI https://youtu.be/6H4gioe5aWI https://youtu.be/6H4gioe5aWI Small Group Discussion Am I a hero or a traitor? https://www.google.com.au/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjM_6zSp8rPAhXJrJQKHXy9AX8QjRwIBw&url=http://www.express.co.uk/news/science/608711/Will-NSA-whistleblower-Snowden-release-proof-of-alien-visitations-to-Earth&bvm=bv.135258522,d.dGo&psig=AFQjCNF8IP0zg2m0AqbbbrlgYZe2AdqIKw&ust=1475985210956640 You are studying MBA402 Governance, Ethics and Sustainability at Kaplan Business School. You receive the following email: Small Group Challenge • In groups, decide what you should do about the email. Whistleblowing • A whistleblower is a person who informs on a person or organisation regarded as engaging in an unlawful or immoral activity. • Whistleblowers may face retaliation from those they accuse of wrongdoing including legal action, criminal charges, social stigma and job termination. Recommendation 3.3 3.3 A listed entity should: (a) have and disclose a whistleblower policy; and (b) ensure that the board or a committee of the board is informed of any material breaches of that policy Ethical and Responsible Action • Acting ethically and responsibly includes encouraging employees to report unlawful or unethical behaviour. • This includes having and promoting an internal complaints handling system for effectively managing employee reports of unethical activity within the company. Code of Conduct • The code of conduct should identify the measures the company follows to encourage the reporting of unlawful or unethical behaviour. • This would include how the company protects whistleblowers who report violations in good faith. Whistleblower Programs • AS 8004-2003 Corporate governance - Whistleblower protection programs for entities provides guidance on whistleblower programs for companies. • An effective whistleblower program would need to focus on developing and implementing anti-retaliation policies to protect whistleblowers. • Do you agree with this statement by Ancient Roman poet Horace: Small Group Discussion We are often deterred from crime by the disgrace of others. https://www.google.com.au/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwiXld-38srPAhXGGZQKHTDYAjYQjRwIBw&url=http://www.crystalinks.com/horace.html&bvm=bv.135258522,d.dGo&psig=AFQjCNGch_HVEyYTxl13G4j4QrlgZEkbKg&ust=1476005293698840 • In groups, come up with at least two strategies that will deter parents from collecting their children after four in the afternoon. You are the manager of a day-care centre for young children. The centre is scheduled to operate every day until four in the afternoon, when the parents are supposed to come and collect their children. Quite frequently, however, parents arrive late, forcing child care workers to stay after working hours. The proprietors of the day-care centre expect you to resolve this issue. Small Group Challenge Deterrence • Deterrence is the use of punishment as a threat to prevent people from offending. • Research indicates that increasing the severity of a punishment does not have much effect on crime, while increasing the certainty of punishment does have a deterrent effect. Punishment • In some circumstances, the punishment can actually encourage the misconduct it was supposed to deter. • Care must be taken to ensure any punishment is not viewed as the price for non-compliance. • In groups, think of some punishments that encourage misconduct. Ethical and Responsible Action • Acting ethically and responsibly includes not only training employees on behavioural expectations but also deterring non-compliant behaviour. • This includes having an effective system for responding to instances of unethical behaviour with appropriate disciplinary action. Code of Conduct • The code of conduct should be reinforced by proper training and proportionate disciplinary action if it is breached. Disciplinary Action • Forms of disciplinary action include: o Counselling o Verbal warning o Official written reprimand o Performance management meeting o Final written warning o Suspension or demotion o Termination of employment Corporate Culture • The board of directors should lead by example when it comes to acting ethically and responsibly. • The board should specifically charge management with the responsibility for creating a culture within the company that promotes ethical and responsible behaviour. Playtime Week 5 Workshop MBA402 Governance, Ethics and Sustainability “Every company has a few skeletons in the closest,” you begin. “Hmmm… I don’t like where this is going,” interrupts Eric Driscoll, Meridian’s company secretary. “Senator Stone broadsided me last week at the Committee hearing with a fistful of submissions that reflected very poorly on our corporate culture. I need to know what else he might have up his sleeve so he doesn’t ambush me again tomorrow.” “I can walk you through the company’s complaints register,” Eric offers. “No, I don’t have time for that,” you say, “I need to know about the matters the company has tried to bury, the ones that can come back to hurt us.” “Stone mightn’t have anything else. Meridian’s gone to great lengths over the years to keep its dirty laundry private.” “Are you kidding me, Eric? Our former board is facing prosecution for multiple Chapter 7 breaches. A small army of ASIC officers and investigative journalists are trawling through our garbage with fine-tooth combs. We have