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C E O. > > >. A Chief Ethics Officer??. Business Ethics. Team 4. > > >. Agenda. Who is a Chief Ethics Officer? Case summary Case questions. > > >. Who is a C E O?. ‘’ deals with fostering and maintaining integrity & ethical behavior, handles complaints about business practices

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  1. CEO >>> A Chief Ethics Officer?? Business Ethics Team 4

  2. >>> Agenda • Who is a Chief Ethics Officer? • Case summary • Case questions

  3. >>> Who is a CEO? • ‘’ deals with fostering and maintaining integrity & ethical behavior, • handles complaints about business practices • responsible for regulatory & compliance work in the organisation’’ • Responsibilities: • Ethics and Compliance Association http://www.theecoa.org/Whatis.asp

  4. >>> Who is a CEO? • Annual losses $ 400 billion: Arthur Anderson Survey, 1999 • Between 31% and 52% U.S. workers have witnessed co-workers operating unethically • ECOA :16 founding members in 1992, to 1,250 today • Total compensation for Top Global Ethics and Compliance Executives approaching $750,000: 2005 EOA Survey • Real life examples; HP, Dell, Nortel Networks, Novartis, Deloitte,

  5. Case Summary • Financial scandals created new full time senior management position • In Canada corporate secretary or compliance-tasked vice president perform similar job • CEO at MCI (WorldCom’s post-bankruptcy incarnation) • Chief executive: ensure no unethical behavior taking place • CEO: prepare infrastructure people can raise concerns • CEO at Dell • Responsible for promote an individual accountability for ethics >>>

  6. Case Questions The CEO is just the latest fad in corporate governance as a response to recent corporate scandals. • Not a fad. • Ethics themselves should be addressed;appointing the CEO is not the solution in itself • Organisations that already have a strong ethical culture may not choose to appoint a CEO. >>>

  7. Case Questions To what extent can ethical standards be imposed top down? • Ethical standards CAN NOT BE IMPOSED • There must be fit. • Ethical conditions can be “set” from top management to operational level through … • Self example • Clear & continuous message from top management • Ethical training • Written policies – easy to understand • Involvement of all employees – team consultant • Business decisions that provide ethical examples espoused and encouraged >>>

  8. Case Questions What are the arguments pro and con firms appointing ‘CEO’? • Pros • Shows dedication of business to the issue of ethics • Portrays a good public image of the company • Allows for increased dialogue for potential whistleblowers • Cons • Negative portrayal of CEO of company • Negative portrayal of company >>>

  9. Case Questions Would appointing one reduce the level of unethical behavior of firms? • Yes it would, keeping in mind the approach adopted • Authoritative or viewed as a mentor or facilitator; • Assumption • 80-90% can be controlled; Bagel man; opportunity?? • Extreme cases not affected • Resistance to change on part of employees >>>

  10. Alternatively… Want a piece of me huh?? How was I supposed to know? CEO? CEO? What if the CEO is not ethical…?? >>>

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