Ethics and Corporate Responsibility MARK 5328

Did This Start with Enron?  Ethics started a long time ago  Philosophers like Aristotle, Plato, Cicero, and Yogi Berra  Enron was visible, but also consider Worldcom/MCI, Adelphia, Bill Clinton

 "But we must remember that good laws, if they are not obeyed, do not constitute good government. Hence there are two parts of good government; one is the actual obedience of citizens to the laws, the other part is the goodness of the laws which they obey..." (Aristotle, Politics 1294a3-6).

Why have a Code of Ethics?  to define accepted/acceptable behaviors;  to promote high standards of practice;  to provide a benchmark for members to use for self evaluation;  to establish a framework for professional behavior and responsibilities;  as a vehicle for occupational identity;  as a mark of occupational maturity;" (from the website of Life Skills Coaches Association of BC) Life Skills Coaches Association of BCLife Skills Coaches Association of BC

What Are Ethics?  Personal and corporate guideposts  Doing the right thing  Ethical checklist –Relevant information –Involvement –Consequences –Fairness –Enduring values –Universality –Light-of-day

How Do You Know?  How do you know you are ethical?  How can you demonstrate it to others?

Corporate Ethics  Social responsibility and philanthropy –Bill and Melinda Gates foundation –Largest foundation ever –Focuses on education  Environmental responsibility –Conserving the world around us –“Green” efforts

Codes Come in All Flavors  The company has established a code of conduct, a set of ethical principles, supported by detailed standards of business conduct. The ethical principles of the company (integrity, respect, teamwork, quality, innovation and citizenship) are the foundation for ethical conduct. The company’s Standards of Business Ethics and Conduct booklet provides a clear road map for employees to follow in their daily work. Each employee is a critical link in the chain of excellence and acknowledges his or her responsibility under the code. (Raytheon) (integrity, respect, teamwork, quality, innovation and citizenship)(integrity, respect, teamwork, quality, innovation and citizenship)

Dell Computer  Key elements of their code of ethics –Trust – keep commitments –Integrity – do the right thing without compromise –Honesty – what we say is true and forthcoming –Judgment – think before we act and consider consequences –Respect – treat people with dignity and value their contributions –Courage – speak up for what is right –Responsibility – accept the consequences

Who Is This? Values Our company's foundation is built on our values, which distinguish us and guide our actions. We conduct our business in a socially responsible and ethical manner. We respect the law, support universal human rights, protect the environment, and benefit the communities where we work. Integrity We are honest with others and ourselves. We meet the highest ethical standards in all business dealings. We do what we say we will do. We accept responsibility and hold ourselves accountable for our work and our actions. Trust We trust, respect and support each other, and we strive to earn the trust of our colleagues and partners. Partnership We have an unwavering commitment to being a good partner focused on building productive, collaborative, trusting and beneficial relationships with governments, other companies, our customers, our communities and each other. Diversity We learn from and respect the cultures in which we work. We value and demonstrate respect for the uniqueness of individuals and the varied perspectives and talents they provide. We have an inclusive work environment and actively embrace a diversity of people, ideas, talents and experiences. Ingenuity We seek new opportunities and out-of-the- ordinary solutions. We use our creativity to find unexpected and practical ways to solve problems. Our experience, technology, and perseverance enable us to overcome challenges and deliver value. Protecting People and the Environment We place the highest priority on the health and safety of our workforce and protection of our assets and the environment. We aim to be admired for world-class performance through disciplined application of our Operational Excellence Management System. High Performance We are committed to excellence in everything we do, and we strive to continually improve. We are passionate about achieving results that exceed expectations — our own and those of others. We drive for results with energy and a sense of urgency.

 Chevron/Texaco

Who is This?  As a company, and as individuals, we value integrity, honesty, openness, personal excellence, constructive self-criticism, continual self-improvement, and mutual respect. We are committed to our customers and partners and have a passion for technology. We take on big challenges, and pride ourselves on seeing them through. We hold ourselves accountable to our customers, shareholders, partners, and employees by honoring our commitments, providing results, and striving for the highest quality.

 Microsoft

Your Personal Code of Ethics  Worth 10 extra credit points  Due next Monday on Blackboard  Must be present today (April 20) and next Monday (April 25) to play  Typed, double spaced, one page max  Your own elements that resound strongly with you  Personally signed by you