How does ‘Corporate Ethics’ play a role in shaping the long-term success and reputation of an organisation? Here are 7 simplified lessons from “Harvard Business Review on Corporate Ethics” .
👉 1. 📚 Understand Corporate Ethics: Leaders should understand what corporate ethics is and its importance to the success of the organisation. Why we are talking to leaders? Does every organisation have a code of ethics? Does it outline what is an acceptable behaviour & what is not? who decides?
👉 2. 💬 Communicate Ethical Values: Leaders should communicate ethical values and expectations to employees. Again, leaders?! Would this help to create a culture of ethics within an organisation? Would you include ‘ethical considerations’ in employee training programmes?
👉 3. 🛡️ Have a System of Protection: Organisations should have a system in place to protect whistleblowers who report ‘unethical behaviour’. A real protection!. This would help ensuring comfort in reporting misconducts. Would you consider an anonymous hotline that employees can use to report concerns? Just saying! Or you can have other tools.🛠
👉 4. 🤝 Build Ethical Partnerships: Partner with other organisations of similar ethical values. Would this help to establish a network of ethical organisations that can work together towards common goals? 🎯
👉 5. 🔄 Continuously Evaluate Ethics: Organisations should regularly evaluate their ethical practices to ensure they are up-to-date and effective. How would auditing systems help in this? How about evaluating employee feedback? Can we make changes to our ethical practices?🧐
👉 6. 🔎 Address Unethical Behaviour: Leaders!, yes leaders should address unethical behaviour promptly, consistently, and transparently. This should demonstrate a commitment to ethics and sends a message that such behaviour will not be tolerated. Have I made my self clear?!😆
👉 7. 🏆 Reward Ethical behaviour: Ethical behaviour should be rewarded. This would reinforce the importance of ethical conduct. Employees who consistently demonstrate ethical behaviour may be recognised through awards or promotions. Should they? Isn’t this part of the job?👨✈️
“Corporate Ethics by HBR” emphasises the importance of corporate ethics, ethical values, continuously evaluating ethics, addressing unethical behaviour within an organisation.
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