Despite the existence of the Federal Sentencing Guidelines (instated to allow for leniency toward corporations held criminally liable for the actions of rogue employees), for more than 20 years there were approximately zero instances of the federal government cutting businesses slack based on the merits of their ethics and compliance programs. Until 2012, that is.
As satisfying as it may feel to point fingers when something goes wrong, finding a scapegoat only serves to focus a group's frustration; it does nothing to solve the underlying problem. Visit a boardroom in the wake of a corporate scandal or tune in to virtually any political discussion and you'll find the blame game isn't an exercise unique to...
The best E&C leaders foster an ethical culture in their organizations, but they also realize that tone in the middle is just as important as tone at the top – if not more so. The importance of middle managers in ethics and compliance cannot be underestimated. Pair a finger on the pulse of the company with an inspirational leadership style...
Managers’ C&E duties are generally one of the first topics covered in a code of conduct, but the discussion shouldn’t end at the program’s introduction. Managers’ C&E duties must be reinforced continually through communications, training and evaluations. Do your managers have a handle on their compliance- and ethics-related duties?
Ethics and success aren't mutually exclusive terms. We know this, and yet firms still cut corners. We've become so accustomed to the misbehavior of financial services firms we're no longer shocked by it; their misconduct has become routine. Expected even. James Bone discusses the dilemma of mitigating conduct risk when it feels good to be bad.
Organizations that don’t intentionally foster and maintain a culture of ethics to so to their detriment. The company’s opportunities are limited, its employees’ loyalty may be diminished and – sooner or later – the bottom line is negatively impacted. So if a culture of ethics is your aim, make sure you have these five factors in hand.
Most organizations espouse ethical practices, but it's the rare few that operationalize their ethical standards, weaving them into the very fabric of the organization so that their core values are reflected in all of their practices, from hiring and performance reviews to rewards and recognition and firings. Walking out these values doesn't happen by chance.
Late last week the DOJ announced that GM will pay $900 million to settle criminal charges related to flawed ignition switches that have killed more than 100. No individuals have been indicted, which is shocking given that the company had knowledge of -- and covered up -- this issue for years. The DOJ has fallen woefully short of its obligation...
The most beautifully written policies and procedures are worth little more than the paper they're printed on if ethics isn't woven into the fabric of an organization's corporate culture. Ethics must be promoted from the C-Suite, with the CCO and CEO proactively communicating the importance of doing business ethically, as well as identifying and closing ethics gaps to minimize misconduct.
Strong leaders don't just know the right thing to do, they want to do it and then make it happen. Jim Nortz shares an experience in which he saw need for drastic, immediate change, pulled the necessary stakeholders together to devise a strategy, and then watched as the would-be plan fizzled and died. There were multiple failures that day, and...
Corporations and individuals who either insinuate themselves into news stories or report on them in such a way as to capitalize on the events are guilty of newsjacking. You’ve no doubt witnessed this before, though some organizations are subtler than others. But how ethical is this practice, and who determines whether a company is acting ethically?
Unfortunately, it's not uncommon for professionals to be asked to compromise their convictions. When considering a hypothetical ethical dilemma, most of us probably believe we'd take the moral high ground, but even the most honorable among us can get ensnared in morally questionable schemes. Make sure you know which lines you're willing to cross when your principles are tested.
Founded in 2010, CCI is the web’s premier global independent news source for compliance, ethics, risk and information security.
Got a news tip? Get in touch. Want a weekly round-up in your inbox? Sign up for free. No subscription fees, no paywalls.
© 2024 Corporate Compliance Insights
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |