1 / 18

Ethics in Business

Karen Rutledge Ethics and Compliance Specialist PNM Resources. Ethics in Business. Society for Healthcare Strategy & Market Development - NM Chapter United Way 11 August 2006. Objectives. “Ethics” What is it anyway?? Why its important in organizations Importance of leadership and culture

kieve
Download Presentation

Ethics in Business

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Karen RutledgeEthics and Compliance SpecialistPNM Resources Ethics in Business Society for Healthcare Strategy & Market Development - NM ChapterUnited Way11 August 2006

  2. Objectives • “Ethics” • What is it anyway?? • Why its important in organizations • Importance of leadership and culture • Organizational challenges and safeguards • PNM Resources program • Case study

  3. Ethics A concept of right and wrong conduct beyond legal compliance Ethical principles are implicit contracts that represent who you are and what you stand for—what your constituents expect to rely on Michigan Business School Guide to The Ethical Challenge, How to Lead with Unyielding Integrity

  4. Why is Ethics Important in Organizations? • Attendance • Safety • Quality • Productivity Character and ethical behavior in organizations affects: • Loyalty • Security • Profitability

  5. Why Should Organizations Behave Ethically? • Prevent harm to others, avoid reputational harm and reduce potential liability • Fulfill public expectations and improve external relations • Protect organization from others (employees, competitors, etc.) • Improve workforce productivity but protect employees if needed from their employers • Promote personal morality

  6. Reasons for Ethical Problems in Organizations • Personal Gain and Selfish Interest • Competitive Pressure on Finances • Organizational Goals vs. Personal Values

  7. Organizational Ethical Challenges HOMEWORK: What organizational ethical challenges might confront your individual organizations and NMSHSMD?

  8. Organizational Safeguards Best Practices • Leadership/Open door policy • Ethics officer • Ethics committee • Code of conduct • Discussion forums • Conflict of interest assessments • Periodic risk assessments • Ethics and compliance training • Help line • Recognition effort • Corporate citizenship

  9. NMSHSMD and Your Organizations MORE HOMEWORK: Analyze the ethical safeguards / best practices in place at NMSHSMD and in your individual organizations.

  10. Impact of the Individual Leader/Manager “Thebehavior and ethical attitude of an employee’s bossis seen as themost important factordetermining whether the employee will behave unethically on the job” (Liebig, J.E. 1990)

  11. PNM Resources • Do the Right Thing: Principles of Business Conduct • Ethics & Compliance Staff and Volunteers • Risk Assessment • Continuing Education • Integrity Line • Integrity in Action Awards • Community Leadership • New Mexico ethics consortium Corporate Ethics & Compliance Program

  12. New Mexico Ethics Consortium Mission Seek to make New Mexico a better place to live and do business by creating and sustaining ethical business cultures within New Mexico communities, businesses, organizations and governments HOW?

  13. New Mexico Ethics Consortium Guiding Principles • Community includes all organizations • Don’t reinvent the wheel • Complement vs. compete • Organizational vs. functional ethics • Cannot “buy in” • Sustainable business model • Partnership/membership • Services for fees

  14. New Mexico Ethics Consortium Implementation • Standards • Education • Resources

  15. Case Study ABC Healthcare, recognized as a top 100 hospital by a national association, recently launched an advertising campaign highlighting that it was ranked “Number 1” in cosmetic surgery. A board member, while delighted with ABC’s recognition, also expressed discomfort to the CEO with the ad because it seems to place its competitors in a bad light. The CEO has asked you, the business communications department, to form a committee to respond to the board member’s concerns.

  16. Case Study Analysis • Your protocol is to examine this issue through the following four moral perspectives: • Outcomes • Natural Law • Rules • Virtues

  17. Thought for the Day • All that is necessary for the triumph of evil is that good men [people] do nothing. • Edmund BurkeIrish orator, philosopher, & politician (1729 - 1797)

  18. Karen RutledgeEthics and Compliance SpecialistPNM Resources Ethics in Business Society for Healthcare Strategy & Market Development - NM ChapterUnited Way10 August 2006

More Related