- Opinion & Analysis
- Read Time: 2 min
It”s time to bring morality back into finance – and time for business leaders to take risk seriously.
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The nominally independent board of directors is in fact often dependent on management for information. But new pressures on companies, more cooperative approaches and new technologies can render directors increasingly effective as evaluators and advisers.
“Political influence may come at the cost of lower productivity,” explains Anders Olofsgård, a senior fellow at the Stockholm Institute of Transition Economics at the Stockholm School of Economics. “Politicians are expecting something in return from you. One way to pay back politicians is through jobs. So you may be locked into keeping higher employment than you otherwise might be.” Olofsgård and co-author Raj M. Desai, a visiting fellow at the Brookings Institution, argue that bloated staffs are no bargain for any company.
Many companies invest considerable time and energy trying to build trust with customers, employees, suppliers and investors. Why are some of those efforts doomed to fail?
New research indicates that there are five steps that can help business leaders increase CSR’s effectiveness as a lever for talent management.
Surprisingly often, executives with impressive track records are mysteriously transformed into corrupt and tyrannical monsters once they become CEOs. What danger signals do these individuals exhibit, and what measures can be taken to reduce the likelihood of hiring them?
When companies act dishonestly, the psychological costs outweigh any short-term gains. Dishonesty ultimately decreases repeat business and increases worker turnover and employee theft. Degradation of a company’s reputation, adverse effects on employee values and increased surveillance of workers through expensive new systems eat at an organization’s health. The authors offer proof that honesty is still the best policy.
In this article, the authors make the case that corporate misdeeds are symptoms of a syndrome of selfishness that has taken hold of our business institutions, our societies and our minds. Drawing on history, literature, philosophy and management thinking, they argue that the syndrome is built on a series of half-truths — or fabrications — each of which has driven a debilitating wedge into society.
For the past two decades, business leaders have focused exclusively on shareholder value. In a time of terrorism and corporate scandal, a much broader vision is imperative, as Yale School of Management Dean Jeffrey E. Garten explains.
U.S. prosecutors are imposing giant fines and imprisoning managers when regulatory compliance problems arise. Know how to protect your company and yourself when a legal crisis hits.
How can managers improve the ethical quality of their decisions and ensure that their decisions will not backfire? The authors discuss three types of theories that will help executives understand how they make the judgments on which they base their decisions. By understanding those theories, they can learn how to make better, more ethical decisions.
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