5 (a)-BUSINESS ETHICS & CORPORATE GOVERNANCE.The Global Business Standards Codex (The GBS Codex).

The Global Business Standards Codex (The GBS Codex).For Companies that want to assess their Code Of Conduct or Craft a New One, Professors in Harvard University, Boston, USA offer the Global Business Standards Codex, a round up of widely endorsed Conduct Guidelines for Companies around the World.They have arranged the Standards according to Eight underlying Ethical Principles:

Fiduciary Principle.Property Principle.Reliability Principle.Transparency Principle.Dignity Principle.Fairness Principle.Citizenship Principle.Responsiveness Principle.

The GBS Codex (Contd).Fiduciary Principle:Act as a Fiduciary for the Company and its Investors.Carry out the Companys Business in a Diligent and Loyal manner.

Property Principle:Respect Property and the Rights of those who own it.Refrain from Theft and Misappropriation, avoid waste, and safeguard the Property entrusted to you.

Reliability Principle:Honor Commitments.Be faithful to your word and follow through on Promises, Agreements, and other Voluntary Undertakings, whether embodied in Legally Enforceable Contracts or not.

Transparency Principle:Conduct Business in a Truthful and Open manner. Refrain from Deceptive Acts and Practices, Keep Accurate Records, and make timely disclosures of material information, while respecting Obligations of Confidentiality & Privacy.

The GBS Codex ( Contd).Dignity Principle:Respect the Dignity of all People.Protect the Health, Safety, Privacy, and Human Rights of others.Refrain from Coercion and Adopt Practices that Enhance Human Development in the Work Place, Market Place and the Community.

Fairness Principle:Engage in Free and Fair Competition, deal with all parties Fairly and Equitably, and Practice Nondiscrimination in Employment and Contracting.

Citizenship Principle:Act as Responsible Citizens of the Community. Respect the Law, Protect Public Goods, Co-Operate with Public Authorities, avoid Improper Involvement in Politics and Government and Contribute to Community Betterment.

Responsiveness Principle:Engage with parties who may have Legitimate Claims and Concerns relating to the Companys Activities, and be Responsive to Public Needs while Recognizing the Governments Role and the Jurisdiction in Protecting the Public Interest.