It’s been quite a week for the Fudge Factor as Dr. Dan Ariely professor of psychology and behavioral economics at Duke University labels “stretching the truth.” From major companies to politicians, recent news stories have pointed out more than a few potential incidents that illustrate Dr. Ariely’s work in the book he authored, The Honest… [Read More]
Questionable Ethics Taint Volkswagen
The world’s second largest car company has long bragged about its superiority in providing “clean diesel” vehicles to the U.S. But now Volkswagen executives have admitted that those vehicles have a “defeat device” that hides the cars’ actual level of pollutants … but only during emissions testing. This blatant violation of ethics and public trust has… [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]
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]
Department of Justice – Encouraging Whistle Blowing or Blowing Smoke?
In a recent presentation at NYU’s law school, the former Attorney General Eric Holder, said the Department of Justice needs help from whistleblowers if they are to bring financial malfeasance to justice. As Holder stated, ” their evidence is crucial to the work of investigators.” Yet some of us question the motives and believe it’s… [Read More]
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