Managerial Finance

Managerial Finance

ExxonMobil is the largest most traded oil and gas company in the world. The company has globalized its operation in six continents, thus experienced various cultures. While incorporating its ethics, the company requires to put into consideration the practices, ethics, and values of the local community. The essay below will look at the ways through which the company incorporates its ethics into financial management practices in their approach to business conduct.

The company has a standard of business conduct, which is defined by the global ethical conduct of the company, as well as the majority of their shareholders. The standards uphold the labor rights, human rights, environmental rights and aspects by anti-corruption (ExxonMobil, 2016). Upon violation of the business conduct standards, employees face the company’s disciplinary.

The annual report as well as the company’s website provides an overview of the incorporation steps towards achieving the ethics of the company. First, the employees are expected to comply with the applicable roles put forth to ensure that the ethics of every country are put into practice; and as seen above, failure to comply calls for punishment. Also, after every four years, the company employees undergo an ethics training program, where they are reminded of their ethical responsibilities to their specific countries, and the company. Also, they are updated upon any new developments pertaining financial management practices (ExxonMobil, 2016). Lastly, the company also conducts internal audits where employees are assessed to enhance proper implementation of their control systems as well as the Standards of Business Conduct.

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