The 5 pillars of responsible business conduct
5 pillars for responsible business conduct to ensure that everyone, from the bottom to the top of the organizational chart, takes care to meet ethical, environmental and social responsibilities.
The lesson on the importance of business ethics came with the Wall Street collapse, as once highly esteemed financial institutions made headlines for their bad choices and questionable behavior.
Nowadays, while businesses have to meet economic expectations, they also have ethical, social and environmental responsibilities. Whether you work for a small business or a major corporation, 5 pillars for responsible business conduct can help to ensure that everyone, from the bottom to the top of the organizational chart, takes care to meet ethical responsibilities.
The 5 pillars for responsible business conduct
1. Behaving in an ethical manner
Behaving in an ethical matter can create positive business results. A business environment that promotes and upholds strong values is usually a happier and more productive workplace, customers receive good service so they keep coming back, and it is easier to attract funding.
2. Define values and business principles
Translate international standards for respect for others, honoring the dignity and autonomy of each person, trustworthiness, respect, responsibility, fairness, caring and citizenship into business values and principles so they can be used to guide and motivate responsible conduct.
3. Executive leadership support of ethical practices
The importance of executive leadership support of ethical practices within organizations is key. Employees look to their top leaders for the behaviors they are expected to model. If it does not come from the top leadership, it will not permeate through the rest of the organization.
4. Consistency between values, words and actions
Everyone, from the bottom to the top of the organizational chart, must take care to meet the values of the company. Consistency between what employees say the company values its’ actions and saying what it values is a matter of integrity
5. Promote and train people in responsible business conduct
Making the right decision can be difficult when it calls for someone to look beyond the scope of his or her own values and duties. Clarity in responsible business principles that define behavior as right, good and proper provide a means of evaluating and deciding among competing options and guide people in making the right decisions.
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