Business Ethics Insight: Most organizations of size have compliance ...

by Michael Josephson on October 27, 2012

A much more effective approach is compliance plus ethics.

Every aspect of an effective compliance-plus initiative should be grounded in the core values of ?ethics and honor including honesty, integrity, respect, responsibility, fairness and caring. Strict compliance without these underlying ?values will not protect the company from resource-draining and demoralizing scandals and accusations nor will it build the company?s credibility or its reputation.

Compliance is about doing what you must do (or not doing what you?re not allowed to do) while ethics is doing what you should do. We must continually stress compliance is a minimum baseline but that many things that are permissible are not proper and that many things that are legal are not ethical.

Most stakeholders judge a company by its values.

Tagged as: compliance, credibility, Ethics, reputation

Source: http://josephsoninstitute.org/business/blog/2012/10/business-ethics-insight-most-organizations-of-size-have-compliance-programs-to-assure-employees-obey-laws-and-keep-the-company-out-of-trouble-this-is-essentially-a-risk-management-strategy-and-often/

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