Code of Conduct
A Code of Conduct is intended to provide a framework for ethical decision-making within an organisation or company.
It is a collection of internal guidelines as well as external declarations of company values and obligations, which, in many cases, can be seen as a binding guideline that defines how employees should behave in different environments, contexts and situations and thus reflects the ethical principles of a company.
This important communication tool informs internal and external stakeholders about the behaviours valued by a particular organisation, its employees and management. A well-written Code of Conduct clarifies an organisation's mission, values and principles and combines them with standards for professional behaviour. The Code reflects the values that the organisation wishes to promote among managers and employees, and defines the desired behaviour. On this basis, the written Code of Conduct can become a benchmark by which individual and company-wide performance can be measured.
The Code should also encourage talks and discussions on ethics and compliance and make it easier for employees to deal with ethical issues they encounter in their day-to-day work. Together with other important documents, guidelines and resources, it can serve as a reference work to disseminate and promote the topics of compliance and ethics. It is therefore also recommended that the Code of Conduct be written in a comprehensible, simple and not too complex manner.
See Haufe Group at: https://www.haufe.de/compliance/management-praxis/code-of-conduct-compliance-im-unternehmen-leben_230130_287352.html (accessed on 03.06.2020).