make ethical decisions only after they distinguish a specific issue or
situation that has an ethical component.
Therefore, the first thing is understanding business ethics is to create
an ethical issue awareness. Ethical
issues typically occur when a disagreement has occurred among individuals’
morals, values and the culture of the organization that they are involved in. Ethical
issues can develop from several decisions that are made in an organization.
and fairness are values that are extremely important when it comes to having an
appropriate conduct. Integrity is the
most important and it refers to being whole, sound, and in an unimpaired
condition (Ferrell, Fraedrich , 2015). Companies rely on integrity to endure their
values and strive to achieve objectives. Honesty refers to being trustworthy
within the company and with other stakeholders. For a company to become
successful they need to be honest to all stakeholders as well. People who are honest are more respected and
trusted because they stand their own truth. With honesty, there comes
dishonesty which can impact a company as well. If there wasn’t honesty, the world would be
cruel and a place where people wouldn’t want to be. That way when you are faced
a situation it’s better to be honest and tell the truth. Lastly is fairness, fairness is the quality of
being just, equitable, and impartial (Ferrell et al.,2015). Fairness is important to a company. All
employees need to follow directions/rules and be respectful to one another and
work together to have an effective positive company.
The less ethical
problems a company has the more objectives a company can achieve. Caterpillar faces numerous challenging tasks
a day that can affect a complex network of stakeholders. Following the three
values I discussed early, Caterpillar identifies four core values that are
included in their code of conduct that are used to make their goals a reality.
CAT Code of Ethics
& CSRCaterpillar Inc. is a global manufacture of construction and
mining equipment, machinery, and engines (Sawayda, Fairy & Yepez,
n.d.). Caterpillar has more than 500
locations worldwide; with one being so close to home, located in Peoria,
Illinois. CAT is known for their yellow
pyramid that is located on tractors, trucks, machinery, wheel-dozers, and
loaders. CAT provides a product line that essentially serves the different needs
for their customers. In order to thrive in the competitive farm and
construction machinery industry against other companies such as John Deere.
Every company has a code of conduct that they follow. As
stated earlier, Caterpillar follows their four core values; integrity,
excellence, teamwork, and commitment. Through our Code of Conduct, we envision
a work environment all can take pride in, a company others respect and admire
and a world made better by our actions (Caterpillar, 2017). Every employee has
their own responsibility to read the Code of Conduct and understand what it
means and how they can apply it to the workforce.
Starting off the Code of Conduct is Integrity. Caterpillar
is honest and act with integrity. All employees hold themselves to the highest
standard and perform the correct ethical behavior. Caterpillar sets and achieves ambitious goals
through their four core values. Secondly is excellence, excellence is to accept
nothing but the best quality for products and the service. Excellence is not
only a value; it is a discipline and a means for making the world a better
place (Caterpillar, 2017), In 2014, Caterpillar achieved global revenues of
more than 55.2 billion dollars by selling their products and gaining more
customers. This can all be achieved by focusing on providing customers with the
highest possible value of products and services. Every decision an employee
makes needs to contribute to make a positive outlook on the company. Caterpillar
seeks to share different viewpoints to achieve excellence. Thirdly is teamwork.
Caterpillar is a team, sharing our unique talents to help those with whom we
work, live and serve. Having a different variety of employees can boost not
only the company but also the individual. If all employees work together as a
team, the company can produce better products, and faster services.