Business ethics – Part Two: Making it part of your strategy

Abstract

Purpose

This second article (Part One in Industrial and Commercial Training, Vol. 40 No. 5) aims to provide an overview for senior managers of how to develop an ethical culture in business. It describes a management system to support a strategy, and a governance trail of activities that may be used by Non Executive Directors and Trustees as they discharge their fiduciary responsibilities.

Design/methodology/approach

The object is achieved through arguing for a systematic approach to developing ethical behaviour based on core values that support the business strategy. The article then goes on to present examples from organisations from different sectors and sizes where ethical values are part of a positive strategy to determine the culture of the business.

Findings

There is clear guidance about how to manage ethical values in business. Readers could start with the “ethical health check list” of questions. The questions could be a thought starter to managers discussing the topic at an away day for example. Managers could conduct an audit of an existing ethical strategy to identify if their values statement is being translated into behaviours throughout the organisation. They could contrast their activities with the examples in the article.

Originality/value

This article is educational and therefore provides value to senior managers and directors in a concise but comprehensive overview of the topic that is of current concern in the business world.

Citation

Holme, C.A. (2008), "Business ethics – Part Two: Making it part of your strategy", Industrial and Commercial Training, Vol. 40 No. 6, pp. 303-309. https://doi.org/10.1108/00197850810900066