All members of any biz firm or company are bound to a set of rules and standing orders. These rules are formulated to percent any clashes or conflicts of interests. The purpose of these rules is to introduce a culture of openness, integrity and trust among all the state holders of the organizations. All stake holders in the organization must observe to these regulations. The major stakeholders include shareholders, managers, board of directors and clients. All these people have major contribution to the success of any company (McLachlan, V, Swales, J. 2006).
We will write a custom Report on Ethics and Governance: Crown Casino’s Ethical Policy specifically for you
807 certified writers online
The management follows these rules strictly so that conflict of interest is avoided as much as possible. Casinos as business premises must embrace very strict follow up of ethical policy and governance. This is because such businesses take place in very risky and slippery environment. Casinos can be of various types. Some are mobile, especially those in cruise ships, while others are permanent and are built in the neighbouring environments of hotels, shopping and are built in the neighbopuring environments of hotels, shopping and restaurants various Gambling as activities take place in Casinos.
Some games expose participates to dangers and so age restrictions must be put to safeguard on morals of the youth. The most common games are baccarat, roulette, craps and those played on slot machines. Statistics show that large amounts of money always flow through the Casinos, and this boosts chances of cheating. This policy on Casinos therefore must emphasize on the security of the system. Cameras and highly trained personnel have been put in place to guard against such mischief (Harrison, M (2001).
All major stakeholders are put into consideration when designing ethical policies. Major values that are emphasized to ensure collective success include: inclusiveness, Honesty, sensitivity excellence, integrity and inclusiveness among others. This paper explicitly analyses the Casino environment and the relevant policies that can forge it to success.
Case at Crown Casino
Crown casinos, is a business premise in the wide Australian industry. This firm offers a wide range of services. The client base of this company is wide and encompasses the rich and the noble in the society. Apart from games, this firm also has hotels and conference facilitates Bars shopping malls and a crown club.
Crown Casino also quilts sports and big events mostly in the regional and even international fraternity. It causes one of the largest sport screams in the entire region of southern Hemisphere. Repeat client confess that crown Casino is a place where for never stops various types of games exist. They range from table games, VIP gaming. Crown Casino has implemented stern ethics policy.
The case reveals conflict of interest that occurred between the management, clients and the Casino employer. The first case is seen in a plot to Mr. Kakavas who is a chronic gambler back to crown Casino. This shows the unfair behaviour of the management of crown Casino to acquire customers. A fair means would have been to provide efficient and reliable services to clients so that they would always come back to the biz premise as repeat customers. Luring Mr. Kakavas back to crown Casino is also an unethical behaviour by one firm in the market place.
Mr. James Packer is depicted to have been given many favours by the management compared to other clients. A very ugly scene is seen cut rightly, in his move to pay large sums of money s as to have Harry Kakavas return back to the Casino. This is corruption and bribery of which the ethics policy really condemns.
Another claim is on death threats offered by media and Casino baron towards the lives of Harry Kakavas and John Williams. Clash of interest between the clients of crown Casino is very evident. Two big boys (Mr. Kakavas James, Packer) are seen fighting over dominating the games in the world. James is however uses unfair means to be a head of his colleagues. This is through bribery and also issuing death threats to Mr. Kakavas and Mr. William. Best way of solving disputes is through going to the gifts offered to Mr. Packer are actually a bait. The ethics policy actually emphasizes against this. It should be condemned. This is evident in the offer to pay him and $400 million.
Mr. Williams, who is already stained, is seen to be on a trip to do business for crown Casino this. This is not ethical because he already is an enemy to some clients and his presence would decrease the expansion of the business. Mr. William also has a case to answer for rereading company information to others. Ethical policy states that company informatics are very private and confidential that no other person should access those lies and dishonesty on the side of the company. This is outright through the statement made by company spokes man that money was not paid to Mr. Kakavas. These curls make other clients to be suspicious of the company and lose trust in it.
Mr. Kakavas alleged that crown management looked down upon.
An interstate exclusive order issue by former NSW police commission Peter Ryan in September 2000. He emphasizes that that the management later introduced him to gambling in the south bank station in Mecca. His sentences reveal strongly that crown casino neglected the government regulations counseling barn in some people, but proceeded to include them in the games. This is a personal interest of the company against the wishes of the state. Special treatment and gifts is another branch to the laws of the ethics policy (McLachlan, V. 2005). Offers of private jets limousine transfer overseas holiday and about 8 boxes of cash is a breach to this law.
Ethical Policy on the Above Raised Issues
Policy: All Employees of the crown casino and all its affiliate companies must comply with the Victoria grumbling and crown casino Act. This aims at preventing any actual conflict of interests. This policy is designed to be all inclusive. This means that employer, employee, clients and Board of directors must abide by the regulations.
- Provision of detailed guideline on business ethics issues
- Evaluate compliance with policy and applicable form to ensure consistency with goals of the company.
- Provide audit of the employees and for assess information flux counseling the company to the general public.
Conflicts of interest
- A conflict of interest occurs when employees conduct of behalf of the company appears to be driven by personal or individual gain and not the companies.
- The employees of the crown casino should transact and relate with one another in a mutual understanding. No one should faster self benefits. All Employees are actually equal to the management.
- All employees should never extend relationship with customers so a to gain personal benefits. Customers are friends of the business and not individuals.
Incase of family business where family members stand chance of being leaders they should never have a desire for self gain.
Get your first paper with 15% OFF
- Accepting gifts and favors is another area of concern. No suspicion gift should be exchanged between the stakeholders gifts which can lead to exchange of favors in the transactions should never be allowed to occur only those associated with customer business practices should be allowed (Jateloh, 1999).
All information exchange between the stakeholders is considered so confidential such information should never be spilled or let to go off the air (Tomasi. 2004).
Personal use of company property or services is illegal. This range from company owned land, property, equipment or any other property for personal gain. All this is so much prohibited except when approved to the person or until when authority is given.
Compliance with Government laws and regulations
It is against company ethics, for any employee to violate any applicable laws issued by the government institutions. These government laws include affiliation against corruption and threats of killing any citizen. These are subjects to state prosecution.
Discussion of Development and Implementation of Policy
Crown casino has a well developed clients, employee and management system. A clear and concise policy is of great importance to implement services appropriate. The above policy contains the interest of all company stakeholders.
First the policy emphasizes on the right at all employees in the firm. This clause is important so as to prevent harassment of any form to the company employee. It also states that no employee should do anything for his/her own benefits at the expense of the company’s integrity (Lozano, M. 2000).
Another clause of the policy tells on the customer-client relationship. The company must safeguard the interest of all its clients and treat them fairly. This is important because clients are the main assets of crown casino. No employee should favor any client at the disadvantage of other customers. This clause works towards preventing incidences such as the conspiracy between James packer and one casino employee against Mr. Kakavas.
The policy of gifts and exchange of favors is further mentioned. Casino business is very common with cheats and liar. They work towards luring others into deals that only befits them. Enforcement of such a policy will prevent incidences in which jets and more luxury were given to Mr. Packer, only to lure him into more losses. The casino administrators should also be warned not to take any such handshakes.
All the government regulations and laws must be followed to the letter. This forms part of the ethics policy that crown casino has enforced. These include policies against corruption alongside Victoria casino laws. Government always monitors adherence to the law and any failure in this line creates danger of prosecution (Marooline, 2004).
Secrecy and confidentiality is further emphasized in the casino policy. This is to keep the company secrets and integrity (Krave, J. 1999).
The policies were developed at the board of directors stage. This is done with through conciliation with the entire casino market and government agencies which deals with entertainments. All the stakeholders must be consolidated at the time of formulation. This has an advantage of knowing their interests and desires. The final document is an important document for the success of any company.
The implementation stage is done enclose association with the management. This forms the evaluation part of the policy. Any breaching of the law is subjected to prosecution.
Harrison, M (2001) an Introduction to Business and Management Ethics, Cairo: Elsrari Inc.
Jateloh. (1999) the elements of ethics, London: Oxford publishers.
Krave, J. (1999) ethical governance and regulations, Cambridge: Cambridge University Press.
Lozano, M. (2000) governments and Corporate Social Responsibility, Nairobi: Macmillan.
Marooline (2004) Overseeing casino management, London: Oxford publishers.
McLachlan, V. (2005) Social Justice, Human Rights and Public Policy, Humming Earth: Glasgow.
McLachlan, V, Swales, J. (2006) From the Womb to the Tomb: Issues in Medical Ethics. Humming Earth: Glasgow.
Tomasi. (2004) corporate governance in the 21st century, New York: Henn publishers.