Mortgage, Loans, Insurance, Real Estate, Investment, Tax and Financial Services

A Code Of Ethics For A Home Business?

We have seen Conrad Black, Martha Stewart, Enron, Tyco, WorldCom, and countless others in the headlines as their career or business is examined to see ?what went wrong?? Newspaper headlines scream about insider trading, companies cooking their books, and other scandals involving business executives at mostly major corporations. Even today, many are questioning the ethics of lenders and investors in the sub-prime market as people are losing their homes to foreclosure and investors are losing their money through direct or indirect involvement. Why was money lent to people who could not afford payments when normal market rates would come into effect? Why would lenders package these loans without identifying the inherent risk of them to the purchasers?

Scandals such as these tarnish the reputations of business in general, including the small business owner. Investors perceive higher risk, customers are more wary, and the financial industry gets reluctant to extend credit. In spite of this, many small-business owners think a written code of ethics unnecessary. There are even more home businesses that would not believe that a code of ethics is necessary for them. This assumption is simply false. There is a huge benefit to having a written code of ethics for the small business including your home business.

A code of ethics will identify to suppliers, customers, contractors, and employees what behavior is up to standard and what is not. We will come across ethics violators in the normal course of business and we must stand firm to our code of ethics and avoid dealing with these people.

A written code of ethics identifies those basics that you consider essential in operating a business of integrity and character. Communicating this on your website and other informational material will give you an advantage in the marketplace. If you live by it, you will have the added benefit of being able to sleep at night.

A useful code of ethics will have some basic ingredients such as adherence to applicable laws, conflicts of interest to avoid, sexual or other harassment, workplace safety, environmental concerns, industry rules, regulations and practice as well as accuracy of financial information. Be careful however, as one culture or society?s norms may not be the same as yours. For example, some locales require that ?special inducements? be paid in order to obtain or carry on business. Or it may be that oppression against people exists where the business will occur. What will the rules be around this? The code of ethics should address these issues.

The code of ethics must fit with the personality, values, and mission of the particular small business. As confusing as it may sound, ethics are a very personal thing. For example, one person may think it unethical (at least to that person) to sell a product of questionable value, while another will say that the determination of value is made by the buyer and to withhold the good from sale would be unethical. (This example assumes that no fraud or misrepresentation occurred.) It will help if you can include your stakeholders in developing appropriate pieces of your code of ethics, thereby gaining a second opinion.

In the examples stated above, a code of ethics was in place, but they were ignored, not understood, or the people involved justified their transgressions as being ?in the greater good?. So simply having a code of ethics is not enough. Post your code of ethics, and set up a reporting system that could include accepting anonymous reports. While you don't want to encourage a culture of "tattle-tales", stakeholders will need a way to inform someone about any ethics violations they may see. Most important is to show others that you live by the code of ethics yourself. Living by a set of high values will garner trust and confidence in the business and you. They will be then willing to discuss areas of concern with you.

Failing to act on ethics violations will disable even the best intentioned of your efforts just as failing to announce and endorse your code of ethics to your stakeholders renders it practically meaningless. When formulating your code of ethics policy, specify what consequences go with lapses and breaches. Your leadership skills will be tested as you strive to holding people to ethical conduct. But it is worth the peace of mind.

Copyright ? Mark Styranka

Mark Styranka is the owner of Exciting http://Destiny.com and Bargain Deals http://Mart.com. He writes on a variety of topics but primarily relating to money making secrets for the stay at home business. To learn more about how you can work & stay at home, Mark recommends that you visit: http://www.ExcitingDestiny.com http://www.BargainDealsMart.com

Student loan consolidation with federal debt program
If you are a college student (parents please take note), this Federal Government program can help you cut monthly payments on your student loans. You can consolidate now and lock in a low fixed rate. When you consolidate student loans with a Federal Consolidation Loan, you not only can take advantage of these low rates, you can lock in that rate for the life of your loan. One easy process, one low fixed rate, one low monthly payment, one lender. This is a free U.S. Government program (no fees or other charges). Really Great Rate is an authorized agency for this program - you can check your eligibility in a minute or two, with no obligation

Home Equity Loans: Expert Tips and Advice
Get expert advice, tips, and timely information. Manage your own Real Estate and Investment Portfolio to generate an income so you can take control of your financial life and do the things you want to do.

MORE ARTICLES:

A Low Fat Diet Can Lead To A Healthier Lifestyle
There are many different kinds of diet but one of the most successful, effective and healthiest is a low fat diet. There are many advantages to a diet of this type besides helping you to lose weight. Those individuals who suffer from high cholesterol can benefit from eating a diet that is low in fat as can those who are considered to be obese.

EXTOL Selected To Present Web Services to COMMON 2008 Conference
Business Integration Patterns Reveal Business Opportunities for System i Professionals

Home Buying Institute Offers New Tools for Home Buyers in 2008
Website catering to home buyers offers several new tools to simplify the home buying process.

Tips For Building A New Home
Building a new home is a process that begins way before the concrete is poured. There are several important steps you must take to avoid costly mistakes during the construction process. Planning and preparation is absolutely essential to a successful project. The end result could very well be the home of your dreams.

Working From Home As A Telecommuter
Anyone wanting to work from home but not quite ready to cut the apron strings that tie her or him to a corporate job and the resulting paycheck will be glad to know that a twilight option exists which combines the best of both worlds. Referred to as telecommuting, you are still properly employed by your corporate employer with your steady paycheck, health insurance coverage, and retirement options in place, but rather than being stuck on the turnpike during morning and afternoon rush hour, you will do your work from home.

How to Make a Buyer Fall in Love with Your Home
If you are thinking of selling your home, there are a number of things you can do to improve the "showability" of your home. But first, let's look at your home through the eyes of the buyer.

The Best Home Based Businesses You Can Make Money From
There?s a wide range of financial opportunities available on the internet The best home based businesses have several things in common

Global List Builders Launch Unique Worldwide Membership Service for Home Business Seekers
Global List Builders, an Internet Advertising and Promotions company based in California, Monday, February 5, 2007, announces the official launch of it's unique Internet Membership service for the growing millions on-line worldwide who day after day spend their time seeking their ideal Home-Based Business.

topseos.com Announces Internet Marketing and Services Vendor Rankings Just in Time for the Holiday Season - December 2006
When researching Internet Marketing Companies, topseos.com provides all the resources you need with the best of the best in SEO, SEM, PPC, Linking, PR and Web development.

Home Inspection: What Questions Should I Ask
Now that you?ve decided to purchase a new home, you are probably very excited However, the process gets a little more frustrating because there are a few hoops you have to jump through

360e Productions Launches A Leaner, More Flexible And Environmentally Sound "Virtual" Event Production Company, Pushing Aside Production Conglomerates
With constantly being pushed for efficiencies and proving their event payouts, and given the current economy, companies are looking for new, more nimble, flexible, efficient and cost effective live event production solutions. They still want uniquely creative and powerful solutions, but they want the biggest bang for their marketing buck. Welcome to the age of the "Virtual" Production Model.

An Inexpensive Way To Improve Your Home: Low Voltage Lighting
A lot of people are concerned with keeping their homes looking nice. It probably seems to most homeowners that every day presents a new task for them to complete in order to keep their house in top form. This especially true when the sun is out and shining, illuminating every inch of their property, but what about when the sun goes down? What about the way their house looks at night?

Adjustable Rate Mortgage 2007: GuideToLenders.com Resources on ARM Affordability
With $600 to $700 billion in current adjustable rate mortgages (ARM) forecast to be refinanced into new loans, GuideToLenders.com's new article on ARM resets for 2007 provides timely information to homeowners concerned about their mortgage payments going up this year. Homeowners interested in refinancing their adjustable rate mortgage for a fixed-rate loan in 2007 can turn to GuideToLenders.com for valuable resources that can help them reduce their payments in the coming months.

Do It Yourself Home Improvement Basics
The term home improvement is used to describe anything done to improve the house. The term covers the renovation, remodeling and all additions made to the house. These do it yourself jobs are done without engaging a contractor to improve the price of the house in order to sell it.