The World’s Most Ethical Companies
The World’s Most Ethical Companies
The Ethisphere list of World’s Most Ethical(WME) companies recognizes companies that truly and always go beyond mere utterance and statements concerning the need to doing business ethically by putting it into action by they themselves implementing it and having work ethics and policies towards the consumers, the environment and their respective employees (World’s Most Ethical companies-honorees, 2014).
The WME honorees do not only promote the ethical business standards and practices internally their organizations but they exceed their legal compliance minimums and tend to shape the future industry standards by introducing the best ethical practices in the market today. There is therefore the need for accompany to treat the three in an exceptional and morally praiseworthy manner (Beauchamp et.al,2004).
The World’s Most Ethical company that has been nominated toward the better treatment of consumers is the Colgate Palmolive company which is an industry based in the New York and has around thirty seven thousand and seven hundred employees ((World’s Most Ethical companies-honorees, 2014). It’s a multinational consumer products company that is involved in the distribution, provision of the household, health care and personal products such as detergents, soaps, and oral hygiene products
The Colgate Palm olive Company has embraced ethical behavior by ensuring that their dealings with the consumer, environment and employees are guided by ethical principles.Bussinesses have a moral obligation to treat their employees and other members of the society with utmost respect and conduct its business with the highest level of ethics as possible in which the company should regard life, health and security of one another (Beauchamp et.al,2004).
Colgate Palmolive carries its business in praiseworthy manner that is morally justified with regard to its code of conduct that forms the spring born of its running. The code of conduct tends to lead with respect toward their employees and they treat their people in respect based on how they treat one another, interact with customers and demonstrate their respect for laws and regulations. It has a code of conduct that sets out the principles that tend to reflect Colgate’s values. The company also has strong respect for the security of the company employees towards their achievement of amoral and ethical character and diversity (Colgate’s Core Values, 2014).The Company also has great benefits to their workers ranging from, employee development programs, positive work-life balance and flexible hours.
The Colgate Palmolive shows respect for law and regulation when they interact with their customers and treat their customers in a moral hospitable way (Colgate’s Core Values, 2014). This has made Colgate Palmolive one of the largest consumer companies due to the superior products offered to their customers. The shareholders have been pleased by lucrative dividends ant the company has also been able to create consumer trust as to the usage of their products.
On the environment Colgate Palmolive has not lagged behind but has been on the front line to upholding sustainability of the environment by adoption of environmental friendly practices like water conservation measures up to 32 % and the reduction of green house gas emissions by 16% (Sustainability report, 2014). It has come up with means of reducing environmental impacts through compliance with the environmental regulations and setting up a global goals to improve water use and energy use of efficiency and reduction of carbon emissions and wastewater contaminants in which they have set globally bussineses,divisions and sites to track and report their progress. They have also made significant progress towards reduction of their negative impacts through energy efficiency, climate change, water use efficiency, waste water management, waste management, packaging that has been reduced for healthy clean environment (Sustainability report, 2014).Business ethics help companies to engage in what is right and avoid the wrong through strict adherence to the core values and principles and codes of practice to regulate it (Beauchamp et.al, 2004).
This respect of the ethical principles results in profit growth. This has a positive impact on the company, its shareholders and employees. In this respect, Colgate has experience tremendous growth and achieved a global presence due to its manufacture of high quality products. In India for example; the company has been able to attain a 7.29 % increase in net profit (Colgate Palmolive Q4 profit up 7% to Rs 132 cr, 2014). This is no mean fete given the challenges brought about by inflation and currency fluctuation
However, there is need for improvement owing to some claims of gross misconduct. There is need for the elimination of the controversial chemical content which has roused concerns over human its impact on human. The ingredient has become heart of public interest due to the thorny issue of FDA that is heightening attention on the Tricloscan safety which is seen to be hazardous to human beings and there is need for change of the consumer usage of the said product.
There is need to come up with recommendations and viable policy options that can address selected business areas ,then reflect the key ethical considerations and foster an ethical work enevironment.Such recommendations that can hasten and foster this are the need to identify the problem or opportunity, the change in program priority, the need for competitiveness, technological innovations and potentials amongst different fields, the need to come up with law and legislations on various bodies and the initiation of support by the legislated bodies. Such policies will be viable to any ethical issue that may arise (Beauchamp et.al,2004). The government and the public should also be able to come up with regulations that may help in streamlining ethics in various businesses through legislation of laws that may criminalize certain acts and define the do’s and don’ts of an organization.
Recommendations may also be put in place as to how different issues can dealt with as regards the ethical concepts of business such as business itself, ecology and environmental ethics based on how each issue should be dealt with in regard to the available means.
Technology and information resources have also been applied at large in most of the organizations globally as pertaining to the issue of business ethics at the corporate and company level where stipulated rules of conduct and ethics are laid down to be adhered and show the company’s role on how it deals with certain issues .
These has seen the use of technology where most organizations have in deed invested heavily in computers to replace manual process that previously defied automation which need careful planning and consultation for the implementation of the new systems. The customers,suppliers,regulators,business partners and members of the public may be affected during this transition as to the gains in efficiency effectiveness but still the paramount of the ethical sensititivity should still be able to percolate decisions and activities that are related to technology (Beauchamp et.al,2004).
Beauchamp, T. L., Bowie, N. E., & Arnold, D. G. (Eds.). (2004). Ethical theory and business.
Colgate Palmolive Q4 profit up 7% to Rs 132 cr. (2014). Retrieved May 23, 2014, from Money Control: http://www.moneycontrol.com/news/results/colgate-palmolive-q4-profit7-to-rs-132-cr_1092076.html
Colgate’s Core Values. (2014). Retrieved May 22, 2014, from Colgate: http://www.colgate.com/app/Colgate/US/Corp/LivingOurValues/CoreValues.cvsp
Sustainability report. (2014, May). Retrieved May 22, 2014, from Colgate: http://www.colgate.com/Colgate/US/Corp_v2/LivingOurValues/Sustainability_v2/9_Colgate_Sustainability_Report_Planet_2014.pdf
World`s Most Ethical companies-honorees. (2014, May 22). Retrieved May 22, 2014, from Ethisphere: http://ethisphere.com/worlds-most-ethical/wme-honorees/Posted on: October 14, 2018, by : jameswatson