Contains the full lesson along with a supporting toolkit, including teachers’ notes.
What is Compliance & Ethics (C&E)?
Business ethics: Business ethics are the moral principles that govern a business’s behaviour. Like other ethical companies, CRH has created a set of guiding principles that govern its business decisions. These principles guide all decisions made by the company and its employees. (See Ten Guiding Principles panel)
Compliance: Compliance is the act of conforming to a company directive, rule, policy, or standard or law. A Code of Business Conduct (“Code”) helps the employees live up to the stated core values of integrity, honesty and respect for the law. The CRH Code may be downloaded from http://crh.com/our-group/ our-people/corporate-governance/codes-of-conduct
What is the Foundation of C&E?
Intentions, decisions, and actions may be “good” (or right) or “bad” (or wrong). Morality is the set of principles or standards that guide people in making right decisions. The principles may be based on a particular philosophy, religion, culture, etc. or on what a person believes should be universal, i.e. what should apply to everyone.
Businesses should make it as easy as possible for employees to make right decisions.
Compliance programmes within businesses are designed to create a culture of compliance, to identify and reduce the risk of breaching the law, and to remedy any breach that might occur.
While unethical behaviour may yield short-term gain, the long-term implications include investigations, fines, reputational damage and even closures. Following major business catastrophes over the last forty years, legislation has been updated to improve transparency and raise ethical standards.
Many companies now employ C&E officers to identify and reduce the risk of non-compliance. They ensure that C&E are embedded in business practices.