In response to your classmates, analyze the features and benefits of internal self-regulation business ethics. Do you agree with the challenges of and issues of self-regulation presented by your peers? Why or why not? Develop the ideas of your peers by adding comments.Peer Number 1:When it comes to self-regulation in a corporation I find it necessary and interesting. Different businesses have their own set of rules and programs such as, Ombuds and peer review programs. These additional methods that corporations use to manage the legal and moral aspects of potentially problematic activities in the workplace are what creates a balance and future avoidance of what these problem activities can lead to more direct and indirect trouble to anyone involved with the business. The ombuds approach provides employees with a means of having their grievances heard, reviewed, and resolved. These ombuds are very effective when used properly instead of not using them at all doesn?t solve anything that can lead from something small to something huge that the business can?t control/fix anymore.ÿ?According to the ethicist Lynn Paine in aÿHarvard Business Reviewÿarticle, a values-based approach in ethics programs should be more effective than a strict, rules-based compliance approach, since a values approach is grounded and motivated in personal self-governance.?(Weiss, 2014) Employees are more likely to respond well to doing the right thing versus a threat of punishment by law. That line should only be crossed during certain circumstances, such as, if ethics/rules are being constantly violated and nothing is being done, then the punishment will set the example (but this would be a last resort).Some of the issues/challenges involved with ethics and codes of conduct and programs within an organization are as followed: ÿMost codes are too vague to be meaningful, codes do not prioritize beliefs, values, and norms. Should profit always supersede concern for customers or employees? Codes are not being enforced and employees have no knowledge of these codes. A huge issue all around is that if the CEO of the company does not take these codes seriously, then how are their employees supposed to follow them, which then leads to future coming issues that can lead to financial, safety regulations, and lawsuits.ReferencesWeiss, J. W. (2014).ÿBusiness ethics: A stakeholder and issues management approachÿ(6th ed.). San Francisco: Berrett-Koehler Publishers. Inc. Retrieved fromhttps://snhu.skillport.com/skillportfe/main.action?assetid=6238Peer Number 2:Self regulated ethics programs should, ideally, be a complement of a rules-based and value-based compliance approaches. A values-based stakeholder management approach assumes that corporations intrinsically value the interests of all stakeholders. Whereas, rules-based compliance utilizes threats and consequences as regulation tactics (Weiss, 2014). Without values-based compliance, rules based programs rarely work. Employees respond better and are more motivated to do the right thing than being threatened, if they violate laws and rules.Using corporate leaders as moral agents is a values-based approach that utilizes that individual?s ethical and moral strengths as a guideline for the corporation. They build and sustain relationships with stakeholders while demonstrating collaboration and trust. However, ethical leadership can fail due to ethical blindness, muteness, incoherence, paralysis, hypocrisy, schizophrenia, and complacency (Weiss, 2014). Additionally, managers, or leaders, of corporate self regulation often find that voluntary accountability programs and initiatives are often not very voluntary, thus negating any true benefits. ÿSome commonly used self-regulation ethic programs include ombudspersons, peer reviews, and ethical officers. As with all ethical management, it?s a fine balance to find the best strategy for each corporation. There is not ?one best way? to structure a company; there are advantages and disadvantages to each type of structure (Weiss, 2014).Reference:Weiss, J. W. (2014).ÿBusiness ethics: A stakeholder and issues management approachÿ(6th ed.). San Francisco: Berrett-Koehler Publishers. Inc. Retrieved fromhttps://snhu.skillport.com/skillportfe/main.action?assetid=62385

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