Ethics involves distinguishing between what is right and wrong behaviour by an individual or organisation. Many organisations and professions have codes of conduct designed to encourage integrity in carrying out duties. Typical principles are that staff must perform their duties impartially, personal interest should not affect professional decisions, information should not be used to gain financial advantage for themselves and staff should maintain the highest standard of integrity in all business relationships. It is especially important that procurement staff display standards of behaviour that evoke trust among stakeholders and confidence in the objectivity of the process. CIPS has a Code of Professional Ethics that addresses common challenges for procurement staff, such as acceptance of gifts and acceptance of hospitality from suppliers. See also Probity.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.