Encouraging an ethical culture will do more than avoid another Enron
The most significant challenges to an ethical company’s culture are balancing business needs with ethical practice and the time and effort involved, according to a ACCA survey of 530 CFOs in Asia Pacific, the US and Europe, found. Should we be concerned?
In 1968, Albert Carr argued in the Harvard Business Review that business ethics are a far cry from those of private life. He likened business to a game of poker where a mutual acceptance of distrust is required. He accepted that standards of right and wrong in business differ from the traditions of morality in society.
Perhaps it was that kind of mindset that pervaded in the 1990s culminating in nefarious activities at Enron and the fall of Andersen.
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