But because entrepreneurship is now under the intense spotlight of society's gaze, this puts a certain duty on entrepreneurs and business leaders in general. More than ever, today's entrepreneurs have a duty to exercise social consciousness. As arbiters of innovation, entrepreneurs -- true entrepreneurs, and not the star-struck wannabes who lack the true entrepreneurial spirit -- are in a prime position to shape the course of culture and society.
An organization cannot change behaviour; only individuals can. And it is true that sometimes individuals will change their behaviour when they are introduced to new incentives or information, such as new sales incentives or better ways to do my work.
Our growing love of healthy and sustainable food doesn't necessarily translate into a growing love of cooking. Many people who want to eat healthy and interesting meals don't have the time, nor the inclination to cook. Enter the meal-kit service business, estimated to grow to $3 billion in the coming years.
We shouldn't encourage that thinking. We need to create a revolution of people who reward others for "doing the right thing". We need Canadian companies to be ethical, to be honest, and to want to do the right thing, because it is the right thing to do.
Many business crises -- whether it is the BP oil spill or the GM ignition switch -- escalate into ethics crises. What turns a business crisis into an ethics crisis is often an initial unwillingness to accept responsibility for the wrong actions. The public will judge this unwillingness to accept responsibility as a sign of poor ethics.
One of the most important ethical decisions most of us make is who to work for. You may think that your choice of employer will not affect your ethics, but this is unrealistic. When you work for a company that engages in unethical conduct, it is hard to survive without participating in or at least condoning that conduct.
Western industry will mistakenly argue that integrity laws will disadvantage them or cost their industry jobs, but the reality is the opposite. Tough integrity laws will prevent substandard competitors from offering bribes, will disincentivize recipients from receiving bribes, and will strengthen Western companies who compete on the basis of price, quality and service.
Discounting the school reputation because of the lower wages earned by its alumni makes no sense because wages usually reflect the local cost of living, which again is higher in large urban centers. Those who choose to work in small towns are unlikely to earn the high salaries that will make their schools shine in the MBA rankings.
Your brand has an audience you've worked hard to cultivate, but part of that includes those who are the most connected to your company: your employees. They're already working together to achieve your businesses goals and are passionate about the company succeeding. You should look to find ways to give your team a chance to become involved in something bigger.
Mark Pastin is an award-winning ethics thought leader, ethics consultant, and keynote speaker. The CEO of the Council of Ethical Organizations, a nonprofit dedicated to promoting ethics in business and government, he is author of a new book, Make an Ethical Difference: Tools for Better Action.
We journalists have done a lousy job of explaining how we do our jobs, how we practice our craft, to the people we serve. I'm of the opinion that our low ranking in public opinion polls is because we don't even try to tell the people who we are, what we believe in, what we do and why we do it. So allow me to try.
More than four in 10 Canadians have witnessed wrongdoing at work, including bribery, fraud and cooking of financial results
The sense of duty, responsibility and stewardship in Downton Abbey are nothing less than old-fashioned words for the "modern" concept that a few corporations are once again embracing: Corporate Social Responsibility. But with one important difference: Robert Crowley, the Earl of Grantham, is an individual as opposed to a corporation. And, he takes this responsibility very seriously.
Unpaid internships are in the news again as a result of a groundbreaking study on precarious employment in Ontario. There are a number of factors that play into the decision to pay an intern (or not), of course. That said, greed is ultimately the common denominator that business leaders share when determining whether to create paid or unpaid internships.
Trust at the board level is necessary at three intersection points: board and CEO, board member to board member, and CEO to C-suite. Why does trust matter? Think about the transactional costs of a low-trust relationship. In low trust relationships, suspicion abounds and parties feel compelled to paper every decision and every discussion. What can boards and executives do about this? Here is some advice.
the new Securities and Exchange Commission (SEC) "whistle-blowing" rule that permits employees now to go directly to the regulator with a complaint and completely bypass the company's internal processes. The practical effect of this new rule is to put the heat on many companies and corporate boards to reexamine their workplace investigations of potential wrongdoing -- and that is a welcome development. Where do investigations go wrong?
The hard reality is that good people do bad things, and honest leaders let it happen. Honest leaders don't do it on purpose--they create ethics risks at their organizations by simply focusing on the wrong issues. So how did the good and honest leader unwittingly cause such behavior? Here are four ways it happens.
In the wake of the Penn State child abuse scandal, many in the media were outraged by the NCAA's decision to instantly vacate the university's win record from 1998 through 2011. As two ethicists with a combined 40+ years working in the trenches with organizations and their cultures, we'd like to offer the opposite view: the NCAA got it exactly right. What's needed at Penn State is a complete blood transfusion of good culture for bad.
You can't let board members off the hook simply because they're not full-time employees of the company, or that on just one day per quarter they're presented with information on which they can't always get feedback. And that's why Richard Schulze has been forced to step down from Best Buy's board.
It's clear we need to rethink business as usual, but it should start with how business leaders are trained to view their roles, analyze risks, and understand the moral implications of strategic decisions.