Business ethics

The Volkswagen emissions scandal is a poignant reminder of the fragile nature of trust and reputation for organisations and reinforces the importance of being a responsible business.
Management accountants, with their role as business partners, are ideally equipped to navigate this arena, providing the relevant insight to manage the risks as well as innovations that come with ethical scenarios. And while the Volkswagen story unfolds before our eyes, seemingly with no end in sight, it serves as a timely reminder: ignore acting ethically at your own peril.
More than 70% of managers surveyed said they had no problem with workplace romance as long as those involved acted professionally.
I'm particularly interested in autonomy, the need people have to choose and be in control of the things they do. In the workplace, this means a sense of ownership over tasks.
The end of January is rapidly approaching, but it's not too late to adopt some good habits for the year ahead. As a small business owner I'm a big fan of capitalism. There is no other economic system that generates the wealth we need to make society work...
Professor Schwab has put ethics on the WEF agenda for the first time. He is right that trust has suffered and that ethics is critical...with a few nuances.
For decades, a company's performance has been measured almost exclusively in economic terms. Social and environmental issues such as health and safety in garment factories in Bangladesh, the use of conflict minerals in our mobiles, the privacy policies of internet service providers or forced labour on our doorstep have been seen as immaterial to how a company should be valued and how investors should assess performance. This is finally - and thankfully - changing.
The corruption of the world's biggest currency dealers was exposed recently, leading to US and UK regulators imposing £2.6bn of fines on six major banks. Although an extreme example, what we have here is a prime illustration of how bad behaviour in the workplace can have incredibly serious consequences for the organisations involved.
When Prime Minister, Tony Blair said that it's not the role of business to solve social problems. Business should just get on with the business of making money and leave social issues to others. How things have changed...
I use and like easyJet. I don't even mind that they charge me extra for taking my suitcase along: £30 for the privilege, bumping the fare up by over 20%. But I do mind when they 'take' money for nothing when I no longer need an optional extra...