Originally posted June 10, 2019
As recently as 15 years ago, consumers had no visibility into whether the brands they shopped used overseas slave labor or if multinationals were bribing public officials to give them unfair advantages internationally. Executives could engage in whatever type of misconduct they wanted to behind closed doors, and there was no early warning system for investors, board members and employees, who were directly impacted by the consequences of their behavior.
Now, thanks to globalization, social media, big data, whistleblowers and corporate compliance initiatives, we have more visibility than ever into the organizations and people that affect our lives and our economy.
What we’ve learned from this surge in transparency is that sometimes companies mess up even when they’re not trying to. There’s a distinct difference between companies that deliberately engage in unethical practices and those that get caught up in them due to loose policies, inadequate self-policing or a few bad actors that misrepresent the ethics of the rest of the organization. The primary difference between these two types of companies is how fast they’re able to act -- and if they act at all.
Fortunately, just as technology and data can introduce unprecedented visibility into organizations’ unethical practices, they can also equip organizations with ways of protecting themselves from internal and external risks. As CEO of a compliance management platform, I believe there are three things that must be in place for organizations to stay above board in a rising democracy of ethics.
The info is here.