How To Build A Business Ethics Program
July 19, 2007
Recent corporate financial scandals have highlighted the importance of business ethics and legal compliance. Yet a recent National Association of Corporate Directors (NACD) survey of 280 corporate CEOs and directors found that “only one of three directors felt that they were highly effective in ensuring legal compliance”.
Ethics in Business
Most companies realize that they need to develop and implement a business ethics and compliance program.
An effective program can:
? Establish a code of conduct that reduces risk of criminal behavior
? Detect wrongdoing, foster quick investigations, minimize consequences
? Demonstrate company’s ethical/legal philosophy during an investigation
? Reduce fines if company is found guilty of wrongdoing
? Enhance company reputation and stature
Looking at the Options
But how do you build an effective program? Companies find themselves with three options to build the program:
? Develop in-house from scratch
? Hire an external consultant
? Use a pre-written manual
And most of these companies learn a few lessons - sometimes the hard way.
Making a Strong Company Policy
Top 10 Principles for Positive Business Ethics
June 30, 2007
This morning, I read about a company using on-line auctions to defraud customers. Last week, I consulted on an ethics complaint where a business coach betrayed a client’s confidentiality. And, recently a Physician was convicted of insider trading based on information from a patient, a violation of both business ethics and her professional ethics.
Business ethics are the key to profits. If clients and customers don’t trust you, and your business ethics, they will not do business with you. Would you buy from a company you didn’t trust? Of course not!
Business ethics have become a hot-button topic. There are often ethical conflicts between making money, and doing what is right. There can be dilemmas about doing what is best for your employer, what’s best for your own career, and what’s best for the customer. Business ethics is about negotiating these mine-fields. Here are my Top 10 Principles for Positive Business Ethics:
1. Business Ethics are built on Personal Ethics. There is no real separation between doing what is right in business, and playing fair, telling the truth and being ethical in your personal life.
Ethics in Business - Please Have Some
June 14, 2007
Is your business ethical?
What I mean is “Does your business do the right thing when faced with that decision?” It’s a simple question, which many businesses struggle with. I just don’t understand the struggle part?
I have worked for companies that believed they were ethical, and really have no clue. Meaning the decisions they make everyday towards their customers and employees does not advocate ethics.
So, what is it? When someone in business gives you their word and then reneges, that is unethical. Your word is your promise. Even if it is your business making the statement.
Doing good business and being a good employer is more than your product or people, it is the guidelines in which you do that good business. I’m disappointed in how many unethical businesses exist today. I have worked for some of them and they just don’t get it… they ‘talk tough’ but when the decisions are made I can’t fathom what motivated them come to their decision? It was not necessarily ‘doing the right thing’.
Ethics in Business…A Lost Art
May 26, 2007
While watching Face the Nation one Sunday earlier this year, Bob Schiffer discussed the airline industry, his mother and ethics in business. Like Bob, I think it is a sad commentary today, that we have to police businesses. Whatever happened to going into business to provide a needed service, being loyal to employees, and keeping promises.
It seems like no one today is concerned about doing good business or being ethical in the process. Our forefathers would be ashamed at what this society has come to. I know I am.
Chuck and I teach our students how to run a good business, by being ethical, and making sure that everyone is happy. We run our business using the adage, "The customer is always right". We know, however, from looking at others in business both on and offline, that we are in the minority. For most it is all about making money. They don’t care who they have to step on, how many lies they tell, just "show them the money". As I pointed out in my article regarding "The Almighty Buck", this should not be your only incentive for going into business, and if it is, you won’t be in business long.
Business Ethics: The Law of Corporate Karma
May 10, 2007
According to the shamanic traditions, the great mystery of being is that all things are alive and have a level of intelligence. This is because all things are a part of the Great Spirit. However, all things also function individually, in thought and action. It is in these individual actions that karma is born. Karmic laws also state that all karma, both good and bad, must also return home…return to sender!
Most of us don’t have a good grasp of group karma. Simply stated, if you agree to be a member of a group situation, you are also agreeing to it’s collective karmic pattern of return. So sooner or later problems at work, in your business or corporate structure will show up at your front door. It’s like you caught the flu from the group…but now your personally ill.
As humanity grows in it’s awareness…it also grows in karmic responsibility. So years ago many industries caused environmental problems, but were not aware of that fact. However, karmic law states all things must return home……….so these industries don’t really exist today…..or operate in a weakened condition [ in the future they will not exist at all].
