Lead The Importance of Being Ethical Companies with strong ethics programs have found that these efforts can reduce potential costly fines, decrease vulnerability, improve reputation, provide access to capital, favorably influence their bottom line, positively affect their employees' commitment to work and enhance customer loyalty.
Two years after a series of gambles and ill-advised decisions on a BP drilling project led to the largest accidental oil spill in United States history and the death of 11 workers on the Deepwater Horizon oil rig, no one has been held accountable. These are huge numbers. But this is a huge and profitable corporation.
What is missing is the accountability that comes from real consequences: And perhaps only such an outcome can keep BP in line and can keep an accident like the Deepwater Horizon disaster from happening again.
BP has already tested the effectiveness of lesser consequences, and its track record proves that the most severe punishments the courts and the United States government have been willing to mete out amount to a slap on the wrist.
Prior to the gulf blowout, which spilled million gallons of oil, BP was convicted of two felony environmental crimes and a misdemeanor: In all, more than 30 people employed directly or indirectly by BP have died in connection with these and other recent accidents.
In at least two of those cases, the company had been warned of human and environmental dangers, deliberated the consequences and then ignored them, according to my reporting.
Their decisions, however, were driven by money.
Neither their own sympathies nor the stark risks in their operations — corroding pipelines, dysfunctional safety valves, disarmed fire alarms and so on — could compete with the financial necessities of profit making. Such explicit flirtation with deadly risk was undertaken as part of Mr.
Browne relentlessly cut costs, including on maintenance and safety. Then he hastily assembled a series of acquisitions and mergers between and that added tens of thousands of employees, blurred chains of command and wrought chaos on his operations.
His methods — and the demands of Wall Street — became overly dependent on quantitative measures of success at the expense of environmental and human risk. After each disaster, Mr. Browne pledged to refresh his focus on safety, investment in maintenance and commitment to the environment.
The point was to demonstrate that the cost of doing business wrong far outweighs the cost of doing business right. But without personal accountability, the fines become just another cost of doing business, William Miller, a former investigator for the Environmental Protection Agency who was involved in the Texas City case, told me.
The problem then and perhaps now is that it is the slow pileup of factors that cause an industrial disaster. Poor decisions are usually made incrementally by a range of people with differing levels of responsibility, and almost always behind a shield of plausible deniability.
It makes it almost impossible to pin one clear-cut bad call on a single manager, which is partly why no BP official has ever been held criminally accountable. Instead, the corporation is held accountable.
And BP will likely still pay billions more before this is finished. And yet it is not enough.Ethical business - as other ethical issues - are a matter of individual and collective judgement. Unlawful acts are not always unethical.
Ethical acts are not always lawful. Lawful therefore does not equate to ethical, and unethical does not equate to unlawful. corporate governance in the face of big ethical decisions is characterised.
Nov 20, · Tech giants such as Alphabet, Amazon, Facebook, IBM and Microsoft – as well as individuals like Stephen Hawking and Elon Musk – believe that now is the right time to talk about the nearly boundless landscape of artificial intelligence. 1. From an ethical point of view, big business is always bad business This statement can be discussed in two different points of view, pros and cons.
B ig business most of the time bring a lot of benefits to the community such as, Maximize Sales and Profit which brings return on investment for the stakeholders, job opportunity for the community, better .
From an ethical point of view big business is always bad business discuss the pros and cons of this statement? from an ethical point of view big business is always a pfmlures.coms the pros. Free flashcards to help memorize facts about business communication.
Other activities to help include hangman, crossword, word scramble, games, matching, quizes, and tests. Starting in the mid to late s and s, the view emerged in management thinking that the primary role of corporate leadership was to maximize the interests of shareholders.
|Top 9 ethical issues in artificial intelligence | World Economic Forum||Please note that this article is free for personal and educational use.|
|Ethical Dilemma or Modern Trend: You Decide | The 24 Hour Secretary||It remains a good dictum today, but it is much less likely that a seller would be telling outright lies about a product than sometimes occurred in the past.|