Several corporate giants such as Samsung, Wells Fargo and Volkswagen have faced lawsuits in recent years. A lot of this is to do with the unethical practices being followed by these companies. It is essential for the management to inculcate beliefs around ethical practices, across the company. Studies have confirmed that for an employee to be ethical, more than his/ her personal beliefs, it is the company- wide policies that affect more. Such ethical practices have to be embedded right at the corporate strategy level itself. The internal communication too needs to be tailored around such ideals. Communications with the external world will automatically gear up, once internally all decked up.

Source:https://sloanreview.mit.edu/article/creating-an-ethically-strong-organization/

Uploaded Date:14 October 2019