The Ethics of Samsung Research Paper Example | Topics and Well Written Essays - 1500 words

The Ethics of Samsung - Research Paper Example New management encompassed the encouragement of employees to adopt changes in the company and strive to become more ethical for others. Therefore, qualitative performance at Samsung is preferred over the quantitative terms. In the presence of these efforts, Samsung Electronics admitted breaches of the labor regulations in the way of the excessive working hours. Repeated use of child labor at some factories of Samsung was also observed. However, Samsung takes measures to correct these violations including revising hiring policies, overtime practices and work hours. Welfare and health protection were among other measures (Mundy 2012). Compliance program of Samsung is intended to guarantee the legal compliance of self-governing and network of compliance officers supports and represents all departments. Compliance officers dispense advices and provide legal resources to employees. This compliance program is developed to ensure that Samsung’s employees comply with governmentâ€℠¢s regulations, laws and other policies to mitigate the risks of the unanticipated legal fallouts. Talking about vision and mission statement of Samsung, it is stated in the motto that creates the world by inspiring the world. Samsung is committed to inspire the communities by leveraging the key Samsung’s strength in the innovative products, new technology and creative solutions and also promoting the values of Samsung’s employees and partners. Samsung also declared that company responded to the internal changes as well as a new development. However, change in the mission statement was intended to keep the pace of growing international operations. New mission statement is focused to devote the technology and human resources to create services and superior products towards contributing the global society. Enhancing the well being of people all over the world is another point of Samsung’s mission statement (Lee, 2006). Code of ethics of Samsung did not mention the ethics office, but most companies of Korea had the ethics officer (Samsung Engineering, 2013). Samsung like other business companies requires the mechanism for transmission of practices and values on the corporate, social responsibility and ethical business. Samsung Engineering continues to educate and communicate the employees on the Samsung’s compliance management through training of employees and encourage employees to participate in the practices of the compliance program. The training contains the points of legal compliance and relevant laws on corruption prevention, and fair trade. In fair trade at Samsung, no employee is allowed to do unfair transactions and provide the improper influence to others. No employee in the future is allowed to provide the unfair and false information. Employees of Samsung cannot involve in acts of receiving the money, any service or benefits from undue advantages. They are also strictly prohibited to receive rebates or do doubtful transact ions. Cyber education has been provided to all Samsung’s employees on the understanding of ethical management. Samsung Electronics knows very well about the development of compliance culture and create core values for top management and employees. A zero tolerance principle is ensured in all cases of unethical and misconduct of business conducts. A pledge of compliance is signed by executives