A report on Ethical Guidelines for a Startup Company

A report on Ethical Guidelines for a Startup Company

A report on ethical guidelines: 
Suppose you are going to set up a startup company. You need to mention the type of the company (indicate whether it is a local and Global company) and to give a brief idea about it's purpose and organizational hierarchy. Write a code of ethics for your startup company. This code should provide guidelines for ethical and professional conduct and should comply with the code of ethics of some professional societies like, NSPE, IEEE, ACM, IEB etc.

Hints: You may include but not be limited to the following issues to write code of ethics:
A. Ethical behavior, B. Positive work environment, C. Accurate and complete records, D. Obey the law, E. Avoid conflicts of interest, D. Illegal and questionable gifts or favors, E. Protect proprietary information, F. Reporting and compliance, G. Disciplinary measures.


Wolfrum technologies is a local Electronic automation startup company which works closely with the market leaders in the Automobile Industry. We are a company which has taken the market by storm with around 20 employees reporting directly to the founder Mr.Chadwick Walton, who has put this company on the map.

We strongly believe in setting expectations from our employees in the form of a code of ethics.
The components of our code of professional ethics are:

A. Ethical behavior

We believe in acting in ways consistent with what society and individuals typically think are good values. Ethical behavior tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights.

B. Positive working environment

We consider a positive working environment is a workplace that promotes employee safety, growth and goal attainment. These environments are most conducive to a successful workforce as they encourage employees to perform to their highest ability.

C. Accurate and complete records

We strongly believe in records for which the content, context and structure can be trusted as a true and accurate representation of the transactions, activities or facts that they document and can be depended upon

D. Obey the law

You are obliged to follow all laws which apply to our organization. Depending on your role and profession, there might be various laws you need to observe. For example, accountants and medical professionals have their own legal restrictions and they must be fully aware of them.
When you're preparing contracts, clauses, disclaimers or online copy that may be governed by law (such as consent forms), please ask verification from [our legal counsel] before finalizing anything.
You're also covered by our confidentiality and data protection policy. You must not expose, disclose or endanger information of customers, employees, stakeholders or our business. Always follow our cybersecurity policy, too.
Following laws regarding fraud, bribery, corruption and any kind of assault is a given. You are also obliged to follow laws on child labor and avoid doing business with unlawful organizations.
If you're not sure what the law is in a specific instance, don't hesitate to ask HR or our legal counsel.

E. Avoid conflicts of interest

Conflict of interest may occur whenever your interest in a particular subject leads you to actions, activities or relationships that undermine our company. This includes situations like using your position's authority for your own personal gain or exploiting company resources to support a personal money-making business. Even when you seemingly act to the company's advantage, you may actually disadvantage it. For example, if an employee uses dubious methods to get competitor intel and raise their sales record, their action will have a positive impact on the company's revenue, but it will put us at a legal risk and promote unhealthy business practices.
If it turns out you have created a conflict of interest for yourself, you will be terminated. If the conflict of interest was involuntary (e.g. buying stocks from a company without knowing they're a competitor), we will take actions to rectify the situation. If you repeat the offence, you may be terminated.

F. Illegal and questionable gifts or favors

Employees need guidance on the company's protocol on giving or accepting gifts or hospitality. This includes seeking approval from their line manager or someone more senior, recording it in a gifts and hospitality register. Sometimes gifts of a high value might be required be donated to charity or to the company. Gifts of high value can then be auctioned at the end of the year to raise funds for charity, for example.

G. Protect proprietary information

Implement Access System on the "Need to Know Basis." Limit the access to the proprietary information only to those employees who need it in order to perform their jobs; password-protect employees' computers and phones; and, if the information is maintained in a hard format, make sure the filing cabinet or the room where it is stored is locked.

H. Reporting and compliance

If You Suspect That an Employee Is Stealing or Has Stolen Your Proprietary Information, Act Quickly. The more time passes between you discovering that your employee has taken or is using your confidential information and your actions, the less likely a court is to find that the information was a "trade secret." In other words, if you are not trying to prevent other parties from using your information, then why should the court do so?

I. Disciplinary measures 

If an employee commits a crime at work or neglects their duties to the employer, the employer can act under both criminal and disciplinary regulations. This can mean, for example, dismissal or suspension from work.
In cases involving termination of employment for personal reasons (where the employment is not probationary), disciplinary responsibility, prosecution, suspension or medical examination will be handled and investigated by the Human Resources Team.

J. Integrity and honesty

First, always keep in mind our organization's mission. We all work together to achieve specific outcomes. Your behavior should contribute to our goals, whether financial or organizational.
Be honest and transparent when you act in ways that impact other people (e.g. taking strategic decisions or deciding on layoffs). We don't tolerate malicious, deceitful or petty conduct. Lies and cheating are huge red flags and, if you're discovered, you may face progressive discipline or immediate termination depending on the damage you did.
Stealing from the company or other people is illegal. If you're caught, you will face repercussions depending on the severity of your actions. For example, if you steal office supplies, you may receive a reprimand or demotion (at a minimum), while if you steal money or data (e.g. engaging in fraud or embezzlement), you will get fired and face legal consequences. The decision is at HR's discretion on a case-by-case basis.

I. Respect for others

It's mandatory to respect everyone you interact with. Be kind, polite and understanding. You must respect others' personal space, opinions and privacy. Any kind of violence is strictly prohibited and will result in immediate termination. You're also not allowed to harass or victimize others.
As a general rule, try to put yourself in someone else's place. How would you feel if someone behaved a specific way to you? If the answer is "I wouldn't like it much" or "I would never let them behave like that to me", then we don't tolerate this behavior no matter the person it comes from.
If someone, be it customer, colleague or stakeholder, is offensive, demeaning or threatening toward you or someone you know, report them immediately to HR or your manager. You can also report rudeness and dismissiveness if they become excessive or frequent.

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