can businesses be fair, clean and beneficial to all stakeholders and
To give merit to ethics and ethical behavior in business processes,
practices and principles can make sense. However, the thin line in
a commercial sense of what is right and what is wrong in the organizations
requires the integration of an ethical corporate culture that takes
over when everything else fails.
ethics are born from promoting a culture of ethics program e.g. whistleblowing
Whistleblowing is a valuable tool for monitoring the corporate
governance strategy. It warrants employees to act on incidences of
misconduct and help maintain a safe workplace, protect profits and
brand reputation. If nobody is calling your whistleblower hotline,
it is contrary to the international scope of whistleblower programs
that effectively utilise valuable tips and bring wrongdoers to justice.
Governance Dimension of Ethics and Integrity Issues
Focus on ethics and compliance helps reduce damages due to misconduct,
legal fees, lawsuits, investigations and other expenses associated
with misconduct, without taking into consideration the most expensive
part which is the loss of reputation and brand value.
to stimulate the drive to enhance corporate culture
FIFA, Volkswagen, Petrobras, BP and others can be added to the
long list of governance failures past the credit and financial crisis
that more or less wiped out the accumulated equity of the western
financial institutions. The companies and oversight authorities have
all undertaken to clean up their governance act to show meaningful
results and the willingness to be able to implement and monitor the
corporate culture of dishonesty.
a contingency plan for Anti-corruption and Bribery Enforcement
A practical workshop on creating a safeguard against bribery and
corruption. Danish companies have since the Viking era operated internationally.
However just as the Vikings, the Danes are entrepreneurs/business
people who traded (raided) as a means of doing business, acquiring
capital that could be invested in business.