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Ethical corporate culture

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Lynne Sharpe Paine identifies two strategems to encourage and support an ethical corporate culture: legal compliance and organizational integrity.

1. Consider which might be more effective from a long term perspective?

2. Which would be easier to implement? Which do you think is more prevalent in the business environment?

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Solution Summary

By addressing the questions, this solution discusses legal compliance and organizational integrity in terms of an ethical corporate culture. References are provided.

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1. Lynne Sharpe Paine identifies two strategems to encourage and support an ethical corporate culture: legal compliance and organizational integrity. Consider which might be more effective from a long term perspective?

Both aspects are imperative for long term success of the company. When an organizational culture invests in implementing Sarbanes-Oxley (SOX) compliance, for exmaple, it is important, but without attention to an ethical and culture of integrity and honesty, both will fail. if the culture is not a culture of integrity, it is unlikely the laws and legal requirements will be complied by everyone involved. Enron is a prime example of the self-interest of a few and the lack of integrity caused great financial harm to many, and the company as well. Without integrity, the company is at risk - which increases the likelihood of unethical, illegal behavior within your organization. Although legal requirements, such as the SOX requirements for financial ...

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