[ Ethics ]
[ Ethics ]
Tips for ethical business practices
Write down , communicate & enforce your code of ethics
Be aware of laws & sanctions
Stay informed of industry rules
Health and safety are important aspects of ethical business practices in the steel industry and must be considered in every link of the supply chain . Image : Worldsteel ID : 32279 .
lending to oil and gas companies , rejected plans to sell off its Asian operation , even though it would have increased value for shareholders .
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In January 2024 , the French data privacy watchdog , the CNIL ( Commission Nationale de l ’ Informatique et des Libertés ), imposed a fine of EUR 32 million on Amazon France Logistique for an “ excessively intrusive ” surveillance system used to monitor the performance of Amazon ’ s warehouse staff .
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Ethical Consumer published a report in March 2023 calling on UK supermarkets Aldi , Asda , Co-op , Lidl , M & S , Morrisons , Sainsbury ’ s , Tesco , and Waitrose to take immediate steps to protect the rights of migrant agricultural workers in Spain .
While these examples involve large global brands , the impact of unethical behaviour on smaller companies can be even more devastating and long-reaching . Key ethical issues that affect the stainless steel industry include :
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Compliance with laws and sanctions for import / export of raw materials and finished products
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Harassment & discrimination in the workplace
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Health and safety , labour exploitation
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Counterfeit products and / or documentation
•• Accounting fraud
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Nondisclosure and corporate espionage
Be transparent
Employee code of conduct A robust ethical status starts with top management . Providing clearly written policies and processes that are acknowledged and adhered to by all staff will ensure transparency and ethical business practices are applied . The Barrett Values Centre 1 defines ethical practice as creating a business culture where people make decisions and act in ways that build a sustainable business , care for the needs of all stakeholders and comply with ethical and legal obligations . It ’ s a valuesbased approach that must involve everyone . Employees who feel engaged in a company can voice concerns without fear of recrimination , and they will feel respected and valued . Crucially , ethical engagement reinforces the feeling that values and integrity are just as important as financial gain . Ethical practices require a longterm perspective and prioritising ethical conduct , social responsibility , human rights , and caring about your organisation ’ s contribution to global sustainability . If your employees feel this way , you ’ re on the right track !
Be present in your company
Lead by example
I ‘ m happy to say that I work with highly ethical companies every day in the stainless steel industry and our community is leading by example .
Lead by example There are several everyday efforts companies can take to detect and , most importantly , deter ethical pitfalls . The first step is to define , communicate and enforce your code of ethics when making decisions , and ask the same of your employees . Remain aware of the discrimination and labour laws in the countries in which you operate . Stay informed on the rules that impact your industry , and ensure your organisation acts in compliance . Collaborate with accountants , maintaining transparency and honesty in your financial reports . And crucially , be present in your company , making sure your organisation and employees alike are always doing the right and ethical thing . Lead by example !
Sources
1
Barret Values Centre https :// www . valuescentre . com /
www . stainless-steel-world . net Stainless Steel World September 2024 47