Ethics are an important component of a company’s identity and reputation, as well as a principal pillar on which is posed the value of the company’s brand. There is nothing that can lead to a quicker downfall of a company’s image, and even bottom line, than a well-publicized breach of ethics. It is for this reason that companies invest heavily into programs intended to uphold corporate ethics. From the development of training programs, to the drafting of policies, to the creation of compliance teams – these are all intended for the sole purpose of ensuring adherence to the company’s code of ethics. Even governments are firmly on board, with the U.S. Foreign Corrupt Practices Act and the U.K. Anti-Bribery Act. However, few take notice to the fact that ethics are not universal. Ethics are very much affected by your culture and upbringing.
So why is this important? If employees are expected to act in an ethical manner, companies, and in particular multi-national companies, cannot simply issue a blanket order to act ethically. They must first define the standard of ethics to be utilized and measured against. Otherwise, we risk the very real chance of a misunderstanding that could result in the company’s name spread across the front page of every major newspaper, and for all the wrong reasons.