Model code of ethics

This fact sheet sets out a model code of ethics for use by private sector organisations. Feel free to use this as the basis for developing a code for your own organisation.

Business ethics is the application of ethical values to business behaviour

Organisations depend for its success on their reputation, integrity, openness and respect for others. They should pursue their purpose on behalf of their members without seeking competitive advantage over other stakeholders other than through the normal working of the market.

The trust and confidence of those with whom we deal are essential to its success. The protection of an organisation’s reputation and relationships should be of fundamental importance to its long term sustainability. We should recognise our obligations to all those with whom we have a direct relationship – members, staff, contractors and suppliers, the private sector in general, government and the wider community.

We should require and maintain the highest ethical standards. Board, staff, consultants and those acting on our behalf should be expected to act according to our ethical principles. Misconduct should not be tolerated. We should ensure staff protection in cases where conforming to the code jeopardises the reaching of financial or other targets.

This model of code sets out responsibilities towards stakeholders and specifies how staff, board and other representatives are expected to act. The board and senior management should be expected to serve as role models by visibly demonstrating support and by regularly encouraging adherence to the standards.