More Resources

Goodwill Hunting

Code Of Conduct

The fines against corporations found guilty of violating laws regarding ethics are hefty under current federal sentencing guidelines. However, the fines can be reduced substantially if a company has an effective program in place before a violation occurs.

Although there's no formula, the government has issued recommendations on the components that make up an "effective" compliance program. The recommendations, as summarized by Victoria Wesseler, president of Ethics and Compliance Strategies in Indianapolis, are:

  • The development of standards and procedures reasonably capable of reducing the prospect of criminal conduct
  • Appointment of a senior-level individual within the company to monitor standards and procedures
  • Care taken to prevent hiring individuals with a propensity toward criminal misconduct
  • Communication and training regarding standards for all employees
  • Monitoring and auditing the system, including an internal mechanism for employees to report violations
  • Consistent reinforcement of standards
  • And, in the case of a violation, timely responses to curtail the activity and prevent future occurrences.

Wesseler also suggests integrating standards into employee performance reviews.

Content Continues Below


  Page   1   |   2   |   3   |   4   |   5   |   6   |   7  

Marketplace

Learn how to distribute a press release

Try our new online printing. theupsstore.com/print
Today on Entrepreneur
Current Issue
Brewing Big (With a Micro Soul)
After 18 years of growth and with annual revenue about to break $100 million, Kim Jordan still maintains New Belgium's freewheeling spirit.
Magazine Resources
Entrepreneur Connect
Resource Centers
Where Business Gets Done
Revisit the lost art of the meeting, the pitch, the presentation and the all important handshake to close the deal.

Insurance Center
Review your company's needs, save on workers' comp, protect your business from lawsuits and more.

Startup How-To Guides
Step-by-step guides to launching your business.

Commercial Vehicle Center
Get the right ride for your business.


Sign Up for the Latest in:
e-Business & Technology
Franchise News
Business Book Sampler
Starting a Business
Sales & Marketing
Growing a Business

E-mail*
Zip Code*