Particularly within our recent history there has been increased emergence of news articles and stories of bad practices, wrongdoings and lack of foresight by CEOs, political officials and their associates.
More concerning is the roll on effect and significant impact of their actions on wider communities, endangering the confidence of communities, investors, and yes the business sector. Even more alarming has been the rate at which the ethical principles of business and communities has degenerated to greed, dishonesty, elusiveness and sheer downright unprincipled behavior which some would have us believe is the way business is done: a guise that promotes and trades good corporate and business citizenship for bad practices built on selfishness and brutality.
Categorically stated, these hostile and uncultured practices are not good for business nor should they be mistaken as a modern style of competitive leadership and for that matter adopted as a pattern for successfully progressing an organization.
In the well-publicized 2008 global crisis, very evident was a level of apathy fueled by greed and progress at the expense of an unassuming public. One does not have to look too far in the past to see the level of damage occasioned by such practices.
What is very sad in all this is that the culture of greed and selfishness has seemingly become an epidemic that seeks to justifies itself in a language and code of practice in the business community that has only led to increased challenges in the world and incidences of increased poverty in vulnerable countries.
Among some of the major examples of disreputable practices which should not be encouraged and for which systems of monitoring should be implemented to protect the integrity of the organization are:
Bribery. A major bribery issue in many organizations is the securing of contracts premised on some form of inducement. It is not uncommon as well to hear, within the business community, that “this is the way business is done”. This level of corruption is not good for business and should be guarded against in the long term interest and preservation of an organization.
Promotion of misleading or bogus products and services or representations that the organization can perform a function for which it has no capabilities of accomplishing.
False advertising to lure customers.
Harmful projects – This has been a disruptive element of organizations which, in the guise of economic development, has been very costly to communities and the environment. It is wrong, unfriendly and should not be tolerated.
In short, organizations have a social responsibility which among other things, obligates them to be morally sound and protective not only of their operations but the communities and wider economic spaces in which they function.