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The Effect of Management Theory on the Practical World

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As Indicated in the management systems section of the website of Exxon Mobil, the company adheres to the policy of strict ethics and moral obligations while carrying out its operations and it is evident from the policies of the company. The company takes a keen interest in the corporate citizenship and acknowledges its responsibility towards the society. For this purpose high ethical standards have been maintained by the company and a corporate citizenship report has also been issued by the company. Some of the policies of the company that has been set with regard to the management of the company are discussed in detail in the following paragraphs.

Standards of business conduct are the foundation stone for the ethical standards that are required to be maintained by the company’ s employees and non-employee directors around the globe. These standards comprise three broad grouping for the company employees to comprehend and they include guiding principles, sixteen foundation policies, and open door communication procedures. Lucid guidance is provided with respect to the ethics, gifts and entertainment, conflicts of interest, antitrust, and directorship policies. Segregation of personnel has been carried out for the duties of recording, approving and authorizing financial transactions in order to decrease risks.

Payments made to the third parties are subject to the company’ s guidelines for payments to third parties and which also comply with the Foreign Corrupt Practices Act. It is taken very good care of that all of the employees and other people conducting business with the company comply with these standards and do not indulge themselves in unethical practices. In case, any breach of company’ s law or any unethical practice is observed by the company, remedial actions are taken and strictly enforced by the company.

At all of the business locations worldwide, business control systems are meticulously applied to ensure that every operation at the company’ s premises and relating to the products and services of the company is finally done.  

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