“If you ain’t cheating, you ain’t trying,”’ says a Barclay Bank trader! This last week a consortium of the six biggest national and international banks were fined $5.6 billion for manipulating global currency and interest rates, going back to 2007. The six banks were Bank of America, Barclays, Citigroup, JP Morgan Chase, Royal Bank of Scotland and UBS. All… [Read More]
Ethical Behavior Pays Off
The 2012 Great Place to Work® Institute report claims the stock price growth of the 100 firms with the most ethical cultures outperformed stock market and peer measures by almost 300 percent. Thus, researchers have shown that a firm’s culture is the strongest predictor of how much market value that firm will create for shareholders’… [Read More]
Engaging Leaders in Responsible Management
“Engaging Leaders in Responsible Management” was the topic for my presentation Wednesday to several hundred business execs and entrepreneurs at Success North Dallas, a high powered networking group run by entrepreneur Bill Wallace. As you know, it’s a topic I’m impassioned about. I truly believe the lack of responsible leadership, lack of ethics, and the… [Read More]
Situational Ethics: Heads or Tails!
Years ago, Stephen Covey commented, “Some say that ‘business is business’ and that ‘ethics and principles’ sometimes have to take a back seat to profits. Many of these same people see no correlation between the quality of their personal lives at home and the quality of their products and services at work.” He may be… [Read More]
Ethical Leadership- Culture is the Culprit!
People act in their own best interests; not necessarily because they believe they are doing the right thing or because they may be punished or rewarded for doing so. And if a company wants to promote and assure ethical standards are followed then transparency, trust and developing an ethical culture based on guiding principles is… [Read More]
Penn Mutual’s Guiding Principles: a First Step Toward Fraud Prevention
Some companies are getting it right. Recently, I was hired by Penn Mutual, one of the oldest values-driven companies in America. At this event, under the direction of Chairman, President & CEO Eileen McDonnell, Penn Mutual’s leadership team introduced the firm’s guiding principles with a straightforward message: Penn Mutual is committed to maintaining a culture which… [Read More]
A Call To Honor: Kellogg Case Study Award on Anti-Corruption
Not all is bleak in the realm of ethical and responsible leadership. I recently received news of the international award for the Outstanding Case Study on Anti-Corruption, given by the United Nations Compact Principles for Responsible Management Education (PRME) and Giving Voice to Values (GVV), which was announced at the North American Case Research Association (NACRA)… [Read More]
Whistleblowing Has a Price – Is It Worth It?
Being a whistle-blower is not what an individual strives to be. It comes with strings attached, yet the “errors” some employers make leaves no room for silence. Alayne Fleischmann, recently of JP Morgan Chase, is another example of employee observation of their company’s wrongdoing – and the need to report what is egregious wrong doing…. [Read More]
Whistleblowers: Inside the Mortgage Meltdown
We keep trying to figure out just what caused the mortgage meltdown and credit crisis, and one might very well ask, “Didn’t anyone know what was going on? Did anyone ask? Did anyone care?” The truth is – many of us did. And were ignored. When I say here we go again, it’s because it doesn’t seem… [Read More]
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