Essay about Review of Caterpillars Code of Ethics

Review of Caterpillars’ Code of Ethics Caterpillar Incorporated (Caterpillar) is the world’s top in manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. In 2008, Caterpillar reported sales revenue of $51.3 billion dollars from domestic and worldwide operations (Caterpillar, 2008). As reported in Caterpillar’s 2008 Annual Report, Caterpillar is a worldwide company with 67% of their sales from outside of the United States (Caterpillar, 2008). With a global reach and influence, Caterpillar has recognized the need to develop and implement a Code of Conduct to guide its management and employees in their daily practices to make Caterpillar the efficient and profitable global leader†¦show more content†¦In the post Enron era, a company must have honesty before any customers, suppliers, investors or general public has faith in their credibility as a company. The next pillar of Caterpillars Code of Conduct is Excellence. The excellence credo is further highlighted in the 2005 Code of Conduct as â€Å"The Power of Quality† (Caterpillar, 2005 p. 11). Caterpillar is trying to impart to the stakeholders and their employees that they strive for excellence in everything they do. Caterpillar has built a line of products and has a long standing tradition of high quality products that are in demand around the world. To build the quality they do, they instill the concept of excellence in their employees, suppliers and dealers. An important part of any successful business is the ability to develop and nurture a culture of teamwork. The third principal Caterpillar notates in its Code of Conduct is teamwork, in which they stress that they â€Å"know by working together, we can produce better results than any of us can achieve alone† (Caterpillar, 2005 p. 17). Caterpillar also uses the principal of teamwork to emphasis that the global and cultural diversity of their company is a competitive strength. In an enlig htening approach to teamwork, Avshalon Adam and Dalia Rachman-Moore (2004), discuss how companies implement their ethical codes. They haveShow MoreRelatedOrganizational Goals955 Words   |  4 Pagescomprehensive mission statements that review their goals in terms of leadership, quality and value, profits, ethics, and social responsibility is Caterpillar (King, Case, and Premo, 2010). Caterpillar Caterpillar will be the leader in providing the best value in machines, engines, and support services for customers dedicated to building the world’s infrastructure and developing and transporting its resources. We provide the best value to customers. Caterpillar people will increase shareholder valueRead MoreCaterpillar Company Analysis Essay4206 Words   |  17 PagesCaterpillar Inc. Caterpillar Incorporated is the world’s largest producer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Caterpillars headquarters are located in Peoria, Illinois,  United States. The company operates in three principal lines of business: machinery, engines, and financial products. The machinery segment includes the design, manufacture, marketing, and selling of all kinds of machinery such as; tractors, forestry and mining machineryRead MoreWhat Do You Think Would Be More Effective for Shaping Long-Term Ethical Behavior in an Organization: a Written Code of Ethics Combined with Ethics Training or Strong Ethical Leadership? Which Would Have More Impact on You? Why?2200 Words   |  9 Pagesbusiness policies, for example, establishing codes of ethics combined with training programs, or/and execute these ethical policies which means â€Å"leadership in delegation, communication and motivation of the company’s ethical position to employees† (Murphy 1988, p.907). The comparison of the effects of these two approaches bring the question of which is more effective for shaping long-term ethical behaviors in an organization. Although codes of ethics are recognized as one of the essential factorsRead MoreInformation Technology Strategic Planning : Atlas Copco2771 Words   |  12 Pagesbusiness policy to communicate in English to all parties across the globe, they are issues with the multinational parent company and it network of global subsidiaries. (Atlas Copco, 2012) Ethics: The goal is that there should be no incidence of corruption or bribes within our operations. The Business Code of Practice includes zero tolerance of bribes and corruption, including facilitation payments. We work actively to prevent, detect and respond to potential corruption cases. We also support fairRead MoreNature of Strategic Management13243 Words   |  53 PagesIs Strategic Management? Key Terms in Strategic Management The Strategic-Management Model Benefits of Strategic Management Why Some Firms Do No Strategic Planning Pitfalls in Strategic Planning Guidelines for Effective Strategic Management Business Ethics and Strategic Management Comparing Business and Military Strategy The Nature of Global Competition CHAPTER OBJECTIVES After studying this chapter, you should be able to do the following: 1. Describe the strategic-management process. 2. Explain theRead MoreAppearance Discrimination in Employment22039 Words   |  89 Pages[pic]  Abstract [pic]  View PDF  (200kb) [pic]  Print View References †¢ References (67) Citations †¢ CrossRef (1) Further reading †¢ Related Content Search our articles for similar content †¢ Key readings Search our reviews for related items Marked list Top of Form Add to marked list:  Ã‚  [pic][pic] Bottom of Form Bookmark share   Ã‚  Ã‚  Ã‚  Ã‚   Reprints permissions   [pic] Legal and ethical implications of â€Å"lookism† and â€Å"lookphobia† The Authors Read MoreEthical Companies12021 Words   |  49 PagesEthisphere Institute, a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, announced the official unveiling of the 2011 World’s Most Ethical Companies. This year’s honorees have gone above and beyond to prove business ethics are paramount to the success of a company’s brand and bottom line. In its fifth year, the World’s Most Ethical Companies recognizes organizationsRead MoreInternational Management67196 Words   |  269 Pagesthroughout the book, accentuating the experiential relevance of the straightforward content. As always, we emphasize a balance of research and application. In particular for the new eighth edition we have incorporated important new content in the areas of ethics and social responsibility, offshoring and outsourcing, the emergence of social media as a means of transacting business around the world, management practices in and for emerging and developing countries, and other important developments in the internationalRead MoreHuman Resources Management150900 Words   |  604 Pagesmore wary about adding employees. Instead, by using contract workers supplied by others, they face fewer employment legal issues regarding selection, discrimination, benefits, discipline, and termination. BNA Using Contingent Workers 445.10 Review the types of contingent workers and the legal issues associated with their use. Demographics and Diversity The U.S. workforce has been changing dramatically. It is more diverse racially, women are in the labor force in much greater numbers thanRead MoreArticle: Performance Appraisal and Performance Management35812 Words   |  144 Pagesmanagement system came to the practice. The main purpose of this paper is to differentiate these two systems, employee’s performance appraisal and management system. This paper uses a review of the literature to evaluate the development of appraisal system and argues the critic areas of appraisal system. The review identified as advancement in the management field and growing complexity in corporate sectors demand more capable HR, so mare appraisal of employee’s performance is not sufficient. Employee’s