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Additional Posts in Ethics In Business
What is the best compliance certificate to have?
Seriously tho - can companies have ethics?
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One of our professors in a Brand Management class told us, when running a business you don't think whether or not to sacrifice an ethical concern, but which one to sacrifice when.
From my own experience, ethical awareness/wokeness by companies is just a marketing gimmick.
I think that for decades, capitalism encouraged a system of corporate governance that was singularly based on shareholders...do whatever is good for shareholders, nothing else matters. That philosophy has led to very short term thinking...whatever drives up the stock price today, or drives up a quarterly revenue number, is what matters. I think that's wrong...and that capitalism is evolving toward a much more nuanced, multiple stakeholder approach that will encourage longer term thinking...and more ethical decisions. So I don't think there's necessarily a better system suited for ethics, but I do think capitalism needs to continue to evolve and encourage/reward more ethical corporate behavior.