The International Forum on Business Ethical Conduct or IFBEC recently published guidelines for model business courtesies and hospitality.
The guidelines provide a global standard on ethics for those in the aerospace and defense industry. They’re designed to enable IFBEC members and their customers to agree on normal practices in sound business relationships that promote integrity in all business dealings.
IFBEC’s Model Business Courtesies and Hospitality Guidelines detail the “4R Rule.”
Comply with the Regulations. Only offer business courtesies and hospitality that are compliant with applicable law and the internal policy of the receiving organization.
Be Reasonable. Courtesies that may be viewed as extravagant or call their appropriateness into question should be avoided altogether.
Be Responsible. When a specific or unique situation arises, IFBEC members are expected to use common sense, experience, and professionalism in evaluating whether a business courtesy or hospitality should be offered or accepted.
Keep Records. Business courtesies and hospitality must be offered transparently and documented.
The Model Business Courtesies and Hospitality Guidelines can be viewed here.
Previously IFBEC published its Global Principles, which affirm the industry’s commitment to ethical business behavior and a uniform set of standards. The Global Principles address business conduct as it relates to zero tolerance of corruption, use of advisors, management of conflicts of interest and respect for proprietary information.
IFBEC also published the Model Supplier Code, which formalizes a minimum standard of best practice to which any suppliers must be held.
The International Forum on Business Ethical Conduct is a nonprofit composed of aerospace and defense companies across the world that aim to promote and the development of global, industry-wide ethical standards for their industry.
IFBEC is hosting its annual conference this year on November 14-15 in Paris, France.
More information about the event and IFBEC can be found at IFBEC.info.
Kelvin Stroud, pictured above, currently serves as the Director, International Affairs at the Aerospace Industries Association (AIA). He also serves as the Executive Secretary for the International Forum on Business Ethical Conduct for the Aerospace and Defence Industry (IFBEC). He can be contacted here.