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Ethical corporate culture

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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RESPONSE:

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 ...

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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