One of the leading professional services firms in the world is PriceWaterhouseCoopers (PwC).
PricewaterhouseCoopers, with a workforce of 161,000 in 154 countries, has grown by adhering to its values of excellence, teamwork and leadership. The company prioritizes employee career development while fulfilling clients' needs. PwC's success lies in their ability to understand the competitive and regulatory landscape when addressing unique client requirements. Upholding corporate social responsibility through an ethical code of conduct, they lead both theoretically and practically in CR. Collaborating with clients is essential for optimal business solutions that foster mature CR for society as well as businesses.
PricewaterhouseCoopers emphasizes the importance of corporate responsibility, stakeholder engagement, and sustainability, believing that ethical behavior is key in achieving these goals. Miller and Jenz (2008, pg. 47) state that one effective way to establish ethical behavior in an
...organization is through the creation of an ethical code of conduct. Accordingly, PwC has developed a code of ethics centered around their values. This code serves as a reference point for PwC firms to create tailored supplements addressing specific issues in their respective territories.
PwC's global ethics leader, Coenraad (Coeni) van Beek, emphasized the significance of their code of conduct as an essential element of their daily operations worldwide. The code does not alter the fundamental nature of their business, but instead clarifies how they pursue their conduct. Specifically, the code aligns with their established principles of Excellence, Teamwork, and Leadership, demonstrating how these values manifest in their everyday business practices. To ensure efficacy, companies should implement ethics training programs alongside ethical codes.
PricewaterhouseCoopers (PwC) has established an effective code of conduct, which not only informs clients, people, and stakeholders abou
the expected conduct but also has ethics champions worldwide, training programs and helplines to address raised concerns and monitor the program. With the support of these initiatives, PwC ensures relevance and adherence to all code of conduct efforts. Additionally, PwC has set up web-based reporting systems for employees seeking to report questions or complaints in line with the detailed procedures outlined in the code of conduct. Dan DiFilippo, Partner at PwC, confirms the effectiveness of these measures.
According to Ascoles (2004), the Practice Leader for Governance, Risk and Compliance at PricewaterhouseCoopers recommends integrating Sarbanes-Oxley compliance requirements into ongoing corporate governance and regulatory activities in order to improve business performance both in the short and long term. In addition, Miller & Jenz (2008, pg. 3) note that PwC follows the corporate citizenship theory under social responsibility by evaluating companies based on their donations to social causes as well as their approach towards employment discrimination, human rights, environmental concerns and other related issues. Furthermore, PwC's own corporate citizenship practices involve expressing support for fundamental human rights, minimizing harmful impacts of their operations on the environment while avoiding involvement in activities that abuse human rights, and promoting charitable educational initiatives along with community service endeavors.The PricewaterhouseCoopers Code of Conduct outlines various ethical considerations, including evaluating actions based on alignment with professional or company standards, legality, potential public embarrassment, a reasonable person's perspective, and the decision-maker's ability to sleep at night. PwC prioritizes both client and employee needs for continued success and growth as part of their commitment to ethical decision-making and social responsibility. The company strives for excellence to gain global recognition as one of the most admirable firms.
References: http://www.pwc.com/gx/en/ethics-business-conduct/pdf/pwc-codeofconduct.pdf, http://www.pwc.com/gx/en/ethics-business-conduct/code-of-conduct.jhtml
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