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INTERNATIONAL CONSORTIUM ON GOVERNMENTAL FINANCIAL MANAGEMENT. Program of Good Governance and Business Ethics in Panama. Presented by TEMISTOCLES ROSAS R. Partner – Director Consulting Plus 74 Street, San Francisco, Golf Plaza Building Nº 8 P.O Box 0830-00611, Panama, Rep. of Panama
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Program of Good Governance and Business Ethics in Panama
TEMISTOCLES ROSAS R.
Partner – Director
74 Street, San Francisco, Golf Plaza Building Nº 8
P.O Box 0830-00611, Panama, Rep. of Panama
email: [email protected]
- Participation of Panama in Ethics Programs
- Importance of Ethics for Businesses
- What is an Ethic Program?
- Basic Principles of Corporate Ethics
- Steps to follow in the Panamanian Ethics Pact for Businesses.
It is an initiative sponsored by the U.S. Department of Commerce to promote in private sector, the use of business ethics principles and to provide knowledge (know how), tools and leadership to fight corruption.
The program began with developments of ethics programs for the former Russian Federation and countries of Eastern Europe.
In Latin America, programs began for Panama, Paraguay and Nicaragua.
Most recently, Guatemala, Honduras and El Salvador have joined the program.
In Panama, the Ethics Pact for Businesses was signed on October 21st, 2003.
U.N. GLOBAL COMPACT
“Business practices rooted in universal values can bring social and economic gains”Ban Ki Moon, U.N. General Secretary
“Don’t worry fellows, even if things are not going right, we have the necessary resources required to bribe the authorities”
Benefits of BEHAVING with Ethics in Business
Causes loses of clients and the business
Establishes competitive advantages
Causes fines and sanctions
Builds loyalty on clients
Creates a negative reputation
Diminishes moral on employees
Creates a positive work environment
Creates problems on job recruiting
The best prospects seek to join companies with high standards of ethics
Creates a high rotation of personnel
Lowers rotation and improve employee commitment
It is an effective tool in order to establish standards and procedures that reflect company’s values: what ALL of the employees and company’s owners think, say and do.
The ethics program goes beyond the observance of laws and summarizes the behavior of the employees in situations when there is no legal reference.
Reduces risks and costs
Improves reputation and profits
Improves performance, productivity and competitive position
Improves the access to capital, credit and foreign investments.
Increases earnings, with long term sustained growth
Relationship with the local and global community and to act with social responsibility.
Relationship with government authorities
Prevention of bribery and extortion
Economic contributions and political activities
Whenever a doubt emerges, in relation to the right or to the ethics of my position or the action towards other people, solve it on your account.