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Ethics, Integrity, Trust Bruce Blessington Chairman - Flight Landata, Inc. Former CEO - Ferraris Group Director - Seabrook International. Member, Board.

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Presentation on theme: "Ethics, Integrity, Trust Bruce Blessington Chairman - Flight Landata, Inc. Former CEO - Ferraris Group Director - Seabrook International. Member, Board."— Presentation transcript:

1 Ethics, Integrity, Trust Bruce Blessington Chairman - Flight Landata, Inc. Former CEO - Ferraris Group Director - Seabrook International. Member, Board of Advisors – Boston Private Bank Certified Director- National Association of Corporate Directors (NACD) Member- Institute of Directors - London

2 Why bother with this stuff? Adherence to ethical standards is an indivisible part of a business organization’s responsibility to all stakeholders and ultimately influences its survival. A counter weight is needed to the huge emphasis placed on individual performance in MBA programs and in organizations. The “what’s in for me syndrome”. Better – “What’s in it for us.” 2

3 Teaching Ethics Difficult task after character is formed by experience. Provide principles (“rules of engagement”). – General principles – Recognizing conflicts of interest – Business cultures that promote integrity – Decision making concepts (“the harder right”). 3

4 General Principles Organizations need to internalize their values and be ready to live up to them even when it’s very costly. Just because its “legal” or socially acceptable doesn’t mean its ethical. “Going along to get along” is a crisis, a crisis of agreement! Boards are highly susceptible. Courage needed! 4

5 General Principles (cont’d) Organizations need to continuously reinforce their ethical standards, top down, formally and informally, by discussion and by example. People and organizations don’t become bad all at once. Take no such action, that if you were later called to testify about it under oath, you would be faced with the stark choice of: a)Appearing foolish, venial, criminal or b)Committing perjury to avoid a.). 5

6 Conflicts of Interest, Culture and Decision Making Conflicts of Interest – Identify, Disclose, Insulate Culture – Intense focus on short term results creates an anti- ethical environment. Decision making – The “Harder Right” – the decision that most positively effects the widest possible circle of people sometimes involving personal sacrifice by an individual The West Point Way of Leadership – L. R. Donnithorne 6

7 Building Trust Consistency counts! It’s essential to engage in principled behaviors: – Respect for others – Fairness, – Clear communication of corporate goals – Telling the truth These behaviors will see you through turbulent times especially when you have to make tough decisions. 7

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9 Real Life Ethical Dilemmas The Dodgy Directors The Felon in the Payroll Department. The Medical Nightmare. 9

10 10 “ A life lived without a strong moral, ethical code is not a life worth living.” Larry R. Donnithorne Col. USA (Ret.)


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