An organization's stakeholders form an integral part of it. Over the years, stakeholders—internal and external—have played a vital role in improving the association of an employee towards the various hierarchical structures within the organization by developing a continuous rapport. These rapports have been kindled with a code of conduct and trust. External stakeholders comprise the society, government, creditors, competitors and clients. Understanding, learning and keeping the code of trust with the various stakeholders have turned numerous organizations into successful ventures.

Long before we understand ourselves through the process of self-examination, we understand ourselves in a self-evident way in the family, society and state in which we live.

Man is a social animal and cannot work single-handedly. He is part of a large society. Similarly, an organization will cease to exist on its own. To a large extent an organization thrives on its employees. For instance, in a group, there are people who have the inborn quality to magnetize others in the course of their conversation. This magnetic power enables them to be a crowd puller. Organizations also demand that their employees are crowd pullers. This is possible only the management takes the initiative to incorporate the code of conduct among the employees. This initiation from the management helps the employees to understand and respect the laws, values and cultures which are the foundation of every organization. Also, it ensures a healthy business climate globally and contributes positively both personally and organizationally. Most of the public sector enterprises and a majority of the private sector companies have a pleasant induction program. The code of conduct for the workgroup varies from organization to organization; but, in a nutshell, the inherent rules are identical. Effective code of conduct helps the employees to build relationships with the various stakeholders.

HRM Review Magazine, Organization Stakeholders, External Stakeholders, Public Sector Enterprises, Succession Planning, Google's Holiday Logos, Organization Culture, Total Quality Management, Document Management, Corporate Social Responsibilities, Customer Loyalty, Marketing Strategies.