Ethics Governance
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Assessing Corporate Culture (Ethikos) Assessing Corporate Culture (Ethikos) March/April 2005 - By Ed Petry. Over the last two years, few topics in the field of compliance and ethics have generated more interest, and provoked more questions and concerns, than the topic of corporate culture—and rightly so. Compliance and ethics officers have every reason to be concerned about the new emphasis on culture.To many, the term itself is like air: It’s there, it’s vitally important, but it’s hard to describe and harder still to do much about. While it is true that corporate culture has long been recognized as having a critical impact on the effectiveness of compliance—the maxim that bad culture trumps compliance is, for example, well known—until recently few were held accountable for developing and maintaining an ethical corporate culture. That is beginning to change. But do compliance and ethics officers have the clout, resources or allies to do what must be done? What exactly are they supposed to do? What is the objective? What specific actions are required? In this article we will examine specific steps that compliance and ethics officers can take to assess and improve their corporate culture. In Part I, we present suggestions for the initial phase of assessment: creating a process to identify your current corporate culture. In Part II, published in a subsequent issue, we provide a step-by-step process for evaluating the impact your culture has on the effectiveness of your compliance and ethics initiatives.Holding companies and individuals accountablePaul Fiorelli, in a recent article in the Wake Forest Law Review (Fall 2004) summarized the increasing number of regulations and guidelines that refer to ethics and corporate culture and that are now being used to hold corporations and individuals accountable. The SEC, Congress, regulators, the Sentencing Commission, the New York Stock Exchange, the Department of Justice, rating agencies and others have all weighed in on the topic. Full Article: http://www.singerpubs.com/ethikos/html/corporateculture.html |
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2006 Ethics-Governance.com |
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