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Who is subject to the code of ethics?
A code of ethics is a set of principles of conduct within an organization that guide decision making and behavior. The purpose of the code is to provide members and other interested persons with guidelines for making ethical choices in the conduct of their work.
What are the essential role of ethical code?
A code of ethics is important because it clearly lays out the rules for behavior and provides the groundwork for a preemptive warning. Regardless of size, businesses count on their management staff to set a standard of ethical conduct for other employees to follow.
What is the purpose of codes of ethics?
Another purpose of a code of ethics is to provide guidance and set common ethical standards to promote consistency in behavior across all levels of employment. A code governs the actions and working relationships of board members and top management with employees and in dealings with other stakeholders.
Why is a code of ethics important give at least two reasons?
A company's Code of Ethics will generally cover behaviour that, while not illegal, is nevertheless harmful to the company and/or its clients. A good Code of Ethics should include a motivating statement regarding the reason for its existence and the company's purpose.
What is a code of conduct and why is it important?
Why Code of Conduct is Important? Code of conduct is a central guide and reference for employees in supporting day-to-day decision making. A well written code clarifies organization's mission, values and principles, linking them with standards of professional conduct.
Do Realtors have a code of ethics?
In practice, Realtors are required to abide by the Code of Ethics as a way of doing business. ... The standard of conduct applies in a Realtor's dealings with: Their clients and customers: It's their duty to protect their client's best interest, but treat all parties involved in a transaction honestly.
Is there a code of ethics for realtors?
Although there is not an official code for all real estate agents, many are members of the National Association of Realtors, which has an ethics code.
Does trec enforce the Realtor Code of Ethics?
The Code of Ethics outlines a REALTOR®'s obligations to clients, colleagues, and the general public. ... For further information, download the REALTOR® Code of Ethics or visit the National Association of REALTORS®' member resources for the Code of Ethics and professional standards.
What are the 3 major sections of the code of ethics?
The Code of Ethics is divided into three major sections, "Duties to Clients and Customers," "Duties to the Public," and "Duties to REALTORS."
What does a code of ethics include?
The code of ethics usually includes the six universal moral values that state you expect employees to be trustworthy, respectful, responsible, fair, caring and good citizens. You can also include values such as celebrating diversity, using green standards in the workplace, or dress codes.
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