Friday, December 12, 2008
Something Positive During the Crime Spree
The last few days have been surreal, with a large number of indictments and arrests of wealthy business and political leaders who have allegedly committed fraud with wreckless abandon. It is truly a white collar crime spree in the U.S. However, a ray of light peeks through as some large corporations take the lead in trying to get corruption under control. One of Ethics Follies favorite ethics resources, Ethisphere Magazine, reported on its Business Ethics Leadership Alliance (BELA), which is seventeen companies which have committed to a code of conduct to rebuild trust in corporate behavior. The principles that these well-known companies, like GE, Wal-Mart, PepsiCo, Dell, and Accenture, have agreed to include legal compliance, transparency, avoiding conflict of interests and accountability. The voluntary initiative is to reinforce the standards of ethics and fortify confidence in business worldwide. As part of the agreement, the companies have to submit to regular independent audits. Ethisphere’s own reputation has grown rapidly in recent years and getting on their list of the most ethical companies is impressive.