Corporations are all about making money; after all, it’s a business, not a charity. This thought however is a bit of an over simplification. Just because a company is profitable, doesn’t mean that it should be taking any and all actions possible to maximize profits.
In a 2013 KPMG poll of over 3,500 U.S. employees, an astounding 73% of respondents reporting witnessing some form of misconduct within the last 12 months. 56% of these respondents stated that the act witnessed would result in a lack of public trust. These numbers are disturbingly high and confirm the need for corporations and their management to emphasize integrity above all else, even if it means losing a few dollars here and there. Public opinion should be of utmost importance to any brand.
Michael Josephson points to these 12 common rationalizations workers use to justify their malfeasance with the most important being, “ethics is a luxury I can’t afford right now”. There is always room to do things the right way. It is better to take the high road, even if it requires more effort.
Alex Cyphus points to Elon Musk as a notable entrepreneur that focuses on sustainability. He is even reportedly working on a book in which sustainability and the Earth will be one of the main focuses. Ethics goes beyond environmental protection as well, discussed in Andrew Ladouceur’s blog. Trust between stakeholders and management is a bond based on ethics, and must be upheld in order for a company to function. Ethics in business should be a top priority in every company; from bank, to electric car manufacturer.
References
http://blogs.ubc.ca/alexcyphus/
http://blogs.ubc.ca/AndrewLadouceur
http://www.businessinsider.com/elon-musk-is-getting-35-million-for-a-book-2015-2
http://www.huffingtonpost.com/russ-warner/the-do-whatever-it-takes-_b_7821322.html
Media References
http://comics.com/speed_bump/2009-12-21/