Ethical Behavior of Dan Amos of American Family Life Insurance Company (AFLAC) Essay
Ethical Behavior of Dan Amos of American Family Life Insurance Company (AFLAC)
American Family Life Insurance Company (AFLAC), a Fortune 500 company, and their Chief Executive Officer (CEO),Dan Amos, were recently recognized by Ethiosphere Magazine as the World’s Most Ethical Company for the fourth consecutive year (Aflac Named Most Ethical Company for Fourth Consecutive Year, March 2013). This award is given to companies who demonstrate a commitment to ethical leadership, corporate social responsibility, and compliant practices. More information about the methodology and selection criteria and the complete list of the 2013 World’s Most Ethical Companies can be viewed at http://ethisphere.com/wme.
“The research-based Ethisphere® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability. Ethisphere Magazine, which publishes the globally recognized World’s Most Ethical Companies Ranking, is the quarterly publication of the Institute” (Aflac Named Most Ethical Company for Fourth Consecutive Year, March 2013). AFLAC has won this award seven times.
Dan Amos began his career at AFLAC in 1973 as a sales representative. He was promoted to President in 1987, Chief Operating Officer (COO) in 1990, and Chief Executive Officer (CEO) and Chairman of the Board in 2001 ( Reference for Business, Encyclopedia of Business,2nd edition, n.d.).
During the first four years as the CEO of Aflac, revenue grew from $2.7 billion to $9.6 billion. Amos was responsible for the advertising campaign that featured the Aflac Duck. By 2004, polls reported that AFLAC and its mascot Duck was recognized by 96 percent of all Americans. Aflac’s revenue has increased over the years and now is reported to exceed $25.4 billion (AFLAC at a Glance, 2013).
This quote from Amos is very indicative of his philosophy,”Give your employees everything they need to succeed, and they will give everything they can to help the business succeed” (AFLAC Named Most Ethical Company for Fourth Consecutive Year, March 2013). Ethical conduct according to Baack 2012 is the observable words and deeds designed to seek the goal of integrity in everyday business.
Dan Amos has invested donations to fund cancer research and developed Georgia’s AFLAC Cancer Center at Atlanta’s Egleston Children’s Hospital. To date AFLAC has raised over $79 million in donations to children’s cancer. Every executive within AFLAC must sign and abide by the Code of Ethics for Chief Executive and Senior Financial Officers. Here is the overview for this document.
Everyone is required to comply with all of the laws, rules, and regulations that govern the conduct of our business. Senior Officers have additional leadership responsibilities, which include creating a culture of high ethical standards and commitment to compliance, maintaining a work environment that encourages employees to raise issues and promptly addressing employee compliance concerns (Code of Conduct, August 2013).
All Senior Officers must report any suspected violation of this Code for Senior Officers. Any violations of this Code for Senior Officers may be subject to disciplinary action, up to and including termination. This code of conduct is repeated throughout this entire organization at every level.
Their reputation is considered one of their most valuable assets. They protect their reputation as closely as they protect the physical assets of the company. This year marks the 23rd year that Dan Amos has been the CEO of AFLAC. During his tenure, there have never been any corporate scandals or any convictions of business wrong doings. Dan Amos and AFLAC have grown this business on the premise that ethics will equal profits. Aflac’s success is based on honest dealings with customers, a fair product for a fair price , treating employees with respect, and paying a fair wage.
AFLAC At a Glance,(August 2013) Retrieved from http://www.aflac.com/aboutaflac/corporateoverview/ AFLAC Code of Conduct,(August 2013),Retrieved from http://www.aflac.com/investors/corporategovernance/cgconduct.aspx#6 Aflac Named Most Ethical Company for Fourth Consecutive Year, (March 2013). Retrieved from http://www.prnewswire.com/news-releases/aflac-makes-ethispheres-annual Baack, Donald (2012). Management Communication. Chapter 8, San Diego, CA: Bridgepoint Educational Inc. Reference for Business, Encyclopedia of Business,2nd edition,(n.d.), Retrieved from