“Good ethics may not always be good business but it is always good ethics and for a company or person of character — that’s enough.”
– Michael Josephson
Find a worthwhile article from the Harvard Business Review below:
I’ve been a consultant for almost 20 years, advising companies on complex challenges in ethics, risk, and responsibility.Each year several clients raise the same issue: the need to get buy-in from a skeptical senior executive in order to demonstrate a concrete benefit that will follow a proposed investment in an ethical business initiative or function. The executive needs a business case. And so I get asked questions like “What evidence can I provide that doing the right thing will make or save a company money?” and “How can I persuade the organization that embracing integrity is a win-win?”
It’s a relief to have finally moved on from the era in which corporate responsibility meant feel-good philanthropic efforts divorced from an enterprise’s main activities. Happily fading from memory is the cliché that ethics and compliance teams effectively constitute a “business prevention department.” Many managers can easily recite the business case for ethics: Who doesn’t want better risk management, deeper employee engagement, reduced regulatory costs, public trust, and a lure to purpose-driven Millennials? The dominance of the win-win orthodoxy is a sign of progress.
Read the full article here.