Implementing Strategic Management via Code of Ethics: A Quantitative Research on Private Sector in Greece

Abstract

Code of ethics is a substantially important tool of strategic management ensuring sound accounting and non-accounting corporate governance. It exists as a written text articulating a bundle of rules, principles and standards developed to curb unethical decisions. The effective use of a value-based code of ethics safeguards integrity and transparency and preserves trust and loyalty between a business and its stakeholders (investors, customers, partners, and employees). Much empirical research has been done on the codes of ethics, but a few studies have explored employee's attitude and perception regarding two crucial dimensions of code of ethics. Thus, the aim of the study is to analyze the code implementation strength and the code embeddedness. The first one refers to the degree to which code is communicated within the business and the other is the extent to which code is integrated into the business culture. Primary data was obtained using a thirteen-item questionnaire from 2.408 employees working in different industries in Greece. Friedman's test was used to rank-ordering the measures for each questionnaire item and factor analysis explore and categorize the crucial factors of code of ethics. The findings presented have both policy implications and practical contributions.

Crime Hallmark Nexus Between Tourism Support and Destination: Empirical Standpoint of Social Control Theory

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Codes of Ethics as a Marketing Communication Tool: The Impact of Codes of Ethics on the Behaviour and Appearance of Employees

“…In this context, it should be emphasised that good ethical practices help shape employee behaviour (Dutta et al, 2022) and ethical competence (Jurkiewicz & Giacalone, 2016). A code of ethics is a communication tool between organisations and their employees (Pappa et al, 2022). Again, it can be difficult to instil these values in employees without a formalised code of ethics as a tool to communicate well.…”

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“…3-The principle of confidentiality: Confidentiality means that the auditor must respect the value, ownership, and confidentiality of the company's information that he receives from his work, and not disclose it without proper authorization unless there is a legal or professional obligation to do so. This principle includes a set of rules that the auditor must comply with, as follows (Pappa & Filos, 2019): 4. Professional competence principle: The auditor must apply the required knowledge, skills, and expertise when performing audit tasks.…”