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Regulation and Ethics, CSR, Leadership and Vision. Ian “ Ren ” Rennie. Hong Kong’s perfect market. Business ethics. In business, ethics can be defined as: the ability and willingness to reflect on values in the course of the organisation's decision-making process

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business ethics
Business ethics
  • In business, ethics can be defined as:
  • the ability and willingness to reflect on values in the course of the organisation's decision-making process
  • to determine how values and decisions affect the various stakeholder groups
  • to establish how managers can use these precepts in day-to-day company operations.
ethics codes
Ethics codes
  • The Golden Rule: Act in a way you would want others to act toward you
  • The utilitarian principle: Act in a way that results in the greatest good for the greatest number
  • Kant's categorical imperative: Act in such a way that the action taken under the circumstances could be a universal law, or rule, of behaviour
  • The professional ethic: Take actions that would be viewed as proper by a disinterested panel of professional peers
  • The TV test: Always ask, "Would I feel comfortable explaining to a national TV audience why I took this action?"
  • The legal test: Ask whether the proposed action or decision is legal. Established laws are generally considered minimum standards for ethics
  • The four-way test: 
    • Is the decision truthful?
    • Is it fair to all concerned?
    • Will it build goodwill and better friendships?
    • Will it be beneficial to all concerned?
milton freidman
Milton Freidman
  • “... making business managers simultaneously responsible to business owners for reaching profit objectives and to society for enhancing societal welfare represents a conflict of interest ...”
top trends
Top trends
  • Only six percent of respondents perceive the top 100 companies as good corporate citizens
  • Only seventeen percent of respondents definitely trust what companies promise in their advertising and marketing
  • Only nineteen percent of respondents trust what companies say in official reports
  • Fifty four percent of respondents definitely agree that Microsoft is a responsibly-run company earning it the top spot for governance
  • The Walt Disney Company wins citizenship with fifty percent of respondents definitely agreeing that The Walt Disney Company is a good corporate citizen
  • Google takes first place in workplace with fifty percent of respondents definitely agreeing that Google is an appealing place to work and that it treats its employees well.

Source: 2012 Global CSR RepTrak™ 100

forbes csr trends
Forbes – CSR Trends
  • Going Global
  • The Triumph (or Tyranny) of Transparency
  • Employee Engagement
  • Political Pitfalls
  • Collaboratition
  • Sustainability
  • Occupy From the Inside
  • Social Media Rules
  • Human Rights
  • Earth at 7,000,000,000 and Growing.

Source : Forbes : The Top 10 Trends in CSR for 2012

the rule making game
The Rule Making game
  • Involves influencing the writing of society's rules by legislative or regulatory bodies ...
  • ... so that loopholes, exclusions, and ambiguous language ...
  • ... provide future opportunities to "work around" or circumvent the rules' intent for private gain
  • The Rule-Making Game is an influence game.
the rule following game
The Rule-Following game
  • Involves the actual exploitation of these gaming opportunities
  • This game involves following the letter of the law but not necessarily its intent or spirit ...
  • ... as well as violating grey areas of the law in ways that are not easily understood or recognised as violations
  • The Rule-Following Game is thus a compliance game.
lawful but corrupt
Lawful but Corrupt
  • inconsistent management style by institutional leaders ...
  • coupled with perverse incentives ...
  • breakdowns in internal controls ...
  • ineffective board oversight ...
  • and an absence of transparency-can quickly neutralise regulation [and] grease the wheels of ethical drift ...”.