What might happen to WMBD (what is the
risk to the company) if the executives
continue to go out to bars and drink too
much?
• Economic Damage
• Reputation of Company
• More absences due to illness
• Make more mistakes or error in
judgement
• Commit fraud or theft
• Increase company liability
What might happen to the company if the CEO really is having an affair with his
admin?
If the allegations of bribery are
accurate, what are the
ramifications?
• Bribery is not only detrimental to the economic
activities of a business- it also affects employee
morale and performance
• Bribery increases transaction costs and creates
insecurity in the business
• Bribery destroys the legitimacy
• Indirectly, Bribery has a negative impact on
economic growth
• The company may lose business if corruption and
bribery is exposed, potentially leading to
economic losses, job cuts and instability.
• Reputational Damage
How can you get the message
across so that they will really
hear you?
• Be Truthful And Honest.
• Speak Non-Judgmentally.
• Speak From Your Own Experience.
• Consider the Receiver's
Preferred Communication Channel.
• Strive To Understand.
• Avoid A Negative Tone.
• Do Not Interrupt Others.
From an ethical standpoint, and assuming you will ultimately have a VERY
large budget to execute your recommendations, what would you suggest
that WMBD do overall? Firing of executives? Training of all employees?
Changing the C-suite in some way? Disseminating documents to
employees? Hiring you to handle these issues? The possibilities are
endless here -- please be creative!
•
Develop a framework of code, and make ethical performance a strategic priority.
A relevant code of ethics, conduct or similar policy that sets clear objectives,
standards and expectations is a key requirement for ethical performance. A code
needs to be supported by a focus on ethical performance in wider decision
making.
•
Set the tone from the top. Senior management teams must show leadership and
be seen to live the organization's ethical values. Only once that happens can
employees get in step and ensure the whole organization lives those values.
•
Engage, communicate and train your staff. Engage staff and other stakeholders
such as suppliers, investors, regulators and consumer communities, through
effective and informative communication. Good, regular and consistent
communication and training will help to embed an ethical culture.
•
Provide support routes for staff. Organizations need to develop clear routes for
reporting suspected fraud and violation of company policies on ethical behavior.
Too many organizations are weak in this regard and must adopt a zero-tolerance
approach.
•
Measure effectiveness of your ethics program. To ensure best practice,
organizations need both to measure their ethical performance and to foster open
discussion.
How might you help the executives to
make ethical decisions going forward?
What suggestions would you have to
help them build moral character?
1.
Proportionate procedures
2.
Top-level commitment
3.
Risk assessment
4.
Due diligence
5.
Communication
6.
Monitoring and reviewing