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As mentioned by Victor Fung, CEO of Li & Fung Limited, business ethnics should apply not only to whole corporation, but also every units of the corporation. In order to create companies’ ethnical culture, they should first define the culture. This definition need to be crystal clear to all members within organizations, including stakeholders, executives, middle managers, and all general staffs. They should also incorporate the culture into organizations’ mission, vision, core value and strategies. Ethnical culture should have a performance evaluation system that has explicit references to values, having values integrated into operating systems, and examining key decisions in light of values. But if the systems are ignored or if performance pressure or financial criteria trump values, the ethics get lost.

While a typical values statement runs about a page, a code of conduct is usually a booklet that includes a background on policies, gives details needed to apply the policies......

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Approximate Word Count: 491
Approximate Pages: 2 (250 words per double-spaced page)

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