This particular company’s code of ethics was created for a couple of very specific reasons, and is intended to be adhered by specific individuals that are actually listed by position or job title in the document itself. According to “Shell’s Code of Ethics”(1976), “this code is specifically intended to meet the requirements of Section 406 of the Sarbanes Oxley Act and the listing requirements of the New York Stock Exchange by providing for a number of implementing requirements in the area of disclosure controls and the avoidance of conflicts of interest by the category of job holders and persons referred to in this document” (para 2).
The previously quoted material explains the specific reasons the Shell Company implemented their version of the Code of Ethics, but it doesn’t specify the persons intended to adhere to these ethical standards. The document itself lists out, one by one, the persons, positions, or job titles that are expected to follow these ethical procedures. What is the nature of th company? What is the mission statement? Intended Persons and/or Job Titles
According to the “”Shell Company’s Code of Ethics,” (1976), “this code is applicable to the following job holders and persons: the Executive Director of Royal Dutch Shell, the Chief Financial Officer, the Executive Vice President – Controller, the Executive Vice President – Treasury and Corporate Finance, the Chief Internal Auditor, the Executive Vice President – Taxation, the Executive Vice President – Investor Relations, the Executive
If I have to hire someone for a specific position my main objective will be as efficient and professional as possible. Also I have to be creative and imaginative using many ways to search for the ideal person for the position. The major part of successful recruiting is selling the company to a prospective applicant. A creative and innovative recruitment program is perceived by job applicants as ...
Vice President – Strategy and Planning, the Executive Vice President – Finance Trading, the Executive Vice President – Finance Operations, the Executive Vice Presidents – Finance of Upstream International, Upstream Americas, Downstream and Projects & Technology, and any person or job holder designated by the Chief Financial Officer (a register of such designated persons will be maintained by the Company Secretary)”(para 3).
The document goes on to inform the reader of said document “that from here on out the document will refer to the previously mentioned persons or job holders as COE Addressees” (“Shell Code of Ethics”, 1976).
This assignment does not request this information. What is the ethics system at Shell? Requirements Intended to Meet This concludes the parties to which this document was intended, and the specific purposes this document was intended to fulfill, but leaves out one other very important factor. In the code of ethics itself, it states that it was intended to meet the requirements of two separate items: the requirements of the Section 406 of the Sarbanes Oxley Act, and the listing requirements of the New York Stock Exchange.
I believe that a person reading this inquiry may not have the sufficient knowledge of either/or the aforementioned documents, and will give a brief description of each said item. This paper does not require requirements intended to meet. It asks how the code of ethics is used in this organization. I do not see this information. Sarbanes Oxley Act and Listing Requirements of New York Stock Exchange Sarbanes Oxley Act The first item I will briefly go over is the Sarbanes Oxley Act. According to the “U. S.
Securities and Exchange Commission” (2003), this document calls for two new types of disclosures to go into effect: the first is a disclosure that “requires a company to disclose whether or not it has at least one audit committee financial expert, and if so, the name of that expert, and whether or not that expert works independently from the management” (Summary).
The second new type of disclosure the Act states is “whether or not the company adopted a code of ethics that applies to principal executive officer, principal financial officer, principal accounting officer or controller, and persons performing similar functions” U. S. Securities and Exchange Commission, 2003).
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This paper does not require information on the Sarbanes Oxley Act. Listing Requirements for New York Stock Exchange The next item the Shell Company Code of Ethics refers to is the listing requirements for the New York Stock Exchange. The listing requirements for the N. Y. Stock Exchange are as follows according to the U. S. Securities and Exchange Commission: “the initial listing requirements mandate that a company meet specified minimum thresholds for the number of publicly traded shares, total market value, stock price, and number of shareholders.
After a company starts trading, it must continue to meet different standards set by the exchanges. Otherwise, the company can be delisted (2003).
These brief descriptions of the two stated documents will help the reader better understand what specific purposes the Shell Company Code of Ethics were intended for. This paper does not require Listing Requirements for the NYSE. Shell Company’s ethical system virtue ethical System For all informational purposes, I will start out by stating that Shell Company’s ethical system is one of virtue.
According to the “University of Phoenix Material titled Introduction to Ethics for University of Phoenix Students”, the virtue ethical system is one that is “determined by community standards or religious training, and is the highest standard available. A virtue ethical system is also one where “integrity, character, intentions, and motivation of the person are more important than the act itself. The Introduction to Ethics goes on to state that “other forms of virtue ethics include the disclosure rule, human nature ethics, and community standards” (University of Phoenix Material, Introduction to Ethics, 2012).
A virtue ethical system is not accurate. Ethical systems include ends-driven, relativistic, entitlement, and duty-driven (legal or religious) ethics. Which one does Shell have and how is it used? Humanistic Ethical System I already discussed the virtue ethical system, and next I would like to touch on the human nature ethical system. The human nature system is a system that “sees the passion and flaws of humans as a real issue. Human nature ethics tend to deal with the extremes of human behavior, both good and bad, and practicioners find little room for middle ground.
... Coopers offers to audit the ethical performance of companies. The Ethics Officer Association USA with 650 ... the culture of different countries in developing ethical standards. For instance, what may feel like ... a part of Nigeria where Shell had extensive operations. Shell was forced to rewrite its ... such payments. Only some companies like Motorola for example have accounting systems to spot kickbacks ...
Many of the people that follow the humanistic approach include the following: egoists, that think and act only for themselves. Hedonists, who believe that pleasure is the chief goal in life, and virtue system type people who believe in moral excellence, rightness, and responsibility” (University of Phoenix Material, Introduction to Ethics, 2012).
This makes no sense. You are contracting the previous ethical system you stated. The Why, How and When the Code of Ethics is Used Why It Is Used Why the Shell Company’s Code of Ethics is used has already been discussed.
It is intended to be used for two purposes. The first being to meet the requirements of the Sarbanes Oxley Act, and the second is to meet the listing requirements of the New York Stock Exchange. The why it is used part of the persons and/or job titles it is intended for is simply because the Shell Company needed guidelines in place that clearly stated to specific individuals exactly what code of conduct is and will be expected of them as Shell employees. This includes employees at all levels of management and all levels of job holders.
This Code of Ethics implemented by this certain company does not display discrimination of any type. O. K. How It Is Used This company’s code of ethics is used in a way that exhibits very high standards. It calls for Shell’s job holders, and managerial positions to hold themselves at the highest of moral standards and expects nothing less of any of the company’s employees. There are strict guidelines as to what type of punishment is given if these high standards and expectations are not met. It clearly defines what will be and will not be accepted by each and every employee.
O. K. When It Is Used This company’s code of ethics clearly states that these ethics will be used every single day. When I state every single day, it is every single day whether one is at work, at play, or at home. It even goes so far as to mention that these high standards of ethical behavior will be met even when an individual is off the clock, so to speak. Even when an employee of Shell is at his or her own residence, these high standards are expected to be met, and frowned upon if they are not. Conclusion
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In this inquiry I have discussed and analyzed the Shell Company’s Code of Ethics document in it’s entirety. I discussed the intended purposes and persons this document was created and implemented for. I analyzed what type of ethical systems were responsible for the basis of this company’s code of ethics, and the types of people that put in to practice these types of ethical systems. I clearly listed out each and every person or position the document lists that are to adhere to these standards. I deducted that it is evident that there are severe punishments for not meeting these high ethical standards.
It wasn’t clear what exactly these punishments were, just that they were severe, and/or that they (punishments) would be as bad as, or worse than termination itself. Lastly, I went over the when, how, and why this company’s code of ethics is used. As the reader can clearly see, the Shell Company sets the highest type of ethical standards available to any such company, and hold true to the fact that these ethical standards are to be met, and that those who do not meet them will be severly punished, and/or terminated, and/or replaced, and/or all of the above.