Knowledge@Emory -- Business Ethics

The Other Banking Drama: Those Secret Swiss Accounts

Thu, 12 Mar 2009 15:49:14 EST

Tax authorities in the United States have challenged long-standing Swiss banking secrecy laws, demanding that UBS AG release the names of 52,000 Americans suspected of opening secret accounts to evade taxes. The bank agreed to release client information on 250 U.S. citizens and pay a $780 million fine as part of a settlement, but according to Wharton faculty, that decision has put the entire Swiss banking system in jeopardy.

The Bitter Truth About Chocolate

Thu, 12 Feb 2009 21:08:52 EST

In Bitter Chocolate: The Dark Side of the World’s Most Seductive Sweet, author Carol Off gives new meaning to the expression "death by chocolate." Off, a Canadian investigative reporter and co-host of CBC Radio’s current affairs program “As It Happens,” weaves a tale of an industry's egregious use of child and slave labor, environmental degradation, bribery, and even murder. Her blunt portrayal also reveals just how difficult it can be to fight or effectively legislate against organized misery.

Defining and Understanding the Need for a Moral Approach in Business

Wed, 14 Feb 2007 21:38:53 EST

Excessive CEO compensation, employee wage stagnation, and the financial shenanigans in Corporate America have provoked a debate over the need for a more ethical approach to business. As companies struggle to deal with bottom line issues and ROI, just what place does morality play in the day-to-day dealings at work? Experts at Emory University, its Goizueta Business School and others offer up their insight on the need for a moral commitment in business.

Consultant Nikos Mourkogiannis on the Need for Discovery, Excellence, and Altruism in Corporate America

Wed, 10 Jan 2007 20:17:35 EST

In Purpose: The Starting Point of Great Companies, author and consultant Nikos Mourkogiannis discusses how the misappropriation of the word �strategy� by microeconomists led him to explore the true meaning of purpose. In his book, he points to novel business discoveries, such as the achievements of IBM, to illustrate the principles behind purpose and how that impetus can propel success.

Can HP Survive its Board�s Mischief?

Wed, 18 Jul 2007 11:56:09 EST

The professional future of Patricia Dunn, the former chairwoman of Hewlett-Packard, looks grim now as she faces four felony charges stemming from the company�s internal spying scandal, but professors at Emory University�s Goizueta Business School expect that the damage will be limited to the boardroom � and may even serve as a catalyst for some positive changes in the company�s board. As for the company, Goizueta observers contend, the boardroom housecleaning can only enhance HP�s competitive advantage moving forward.

Why Principled Leadership Brings Profit and Pride to BB&T

Wed, 14 Jun 2006 19:07:44 EST

John Allison is not your typical chairman and CEO, and the company he leads, BB&T Corporation, a fast-growing, highly profitable financial holding company, isn�t run of the mill either. The company uses philosophical principles to guide it and even publishes a 30-page brochure entitled �The BB&T Philosophy.� Ranked among the world's top 50 financial institutions for market capitalization by Retail Banker International, clearly BB&T�s philosophy is working. Recently, Allison shared the company�s philosophy with students at Emory University�s Goizueta Business School and noted, �If you don�t agree with our values, don�t come work for us.�

Will Enron's Legacy Benefit Business?

Tue, 24 Mar 2009 17:11:29 EST

Whether or not Enron chairman Kenneth Lay and former CEO Jeff Skilling are found guilty of defrauding their stockholders, the verdict—in the form of Sarbanes-Oxley—has already been handed down to companies in the U.S. It’s been four years since the Act was signed, and the jury is still out regarding its effectiveness, according to faculty at Emory University and its Goizueta Business School. While some companies have reaped benefits from compliance, smaller firms have not fared as well.

Linking Strong Moral Principles to Business Success

Wed, 11 Jan 2006 21:31:15 EST

In Moral Intelligence: Enhancing Business Performance & Leadership Success, Doug Lennick and Fred Kiel look at the connection between strong moral principles and business success. Using original research, the authors show how the best performing companies have leaders who are able to promote moral intelligence throughout their organizations, despite the fact that the business world all too often rewards bad behavior, at least in the short run. Included in their book is what the authors call their Moral Competency Inventory, a metric that can help leaders assess where they and their organization currently stand.

Why Core Values are at the Center of Arthur Blank�s Play-book

Wed, 02 Nov 2005 19:10:23 EST

When Arthur Blank pumps up the players on the Atlanta Falcons football team, he doesn�t trash talk. Instead, he uses a proven set of core values that will serve them on and off the field. Speaking earlier this year at Emory University�s Goizueta Business School, Blank said sticking with the values he honed while CEO of The Home Depot have helped him transition from retail to the business�and emotional highs and lows�of pro sports.

Can Empowering Poor Nations Bring Profits?

Wed, 05 Oct 2005 18:16:33 EST

In the book The Fortune at the Bottom of the Pyramid, author C.K. Prahalad argues that �inclusive capitalism� can serve to alleviate poverty throughout the developing world. The author, an internationally recognized consultant to multinational corporations, contends that people at the bottom of the pyramid�the 4 billion individuals in the developing world living on less than $2 a day�are an attractive customer base. As they become consumers, Prahalad says, �[they] reap the benefits of respect, choice, and self-esteem.�

Interface Founder Ray Anderson�s Vision to Transform Business

Wed, 07 Sep 2005 17:27:35 EST

Forward-thinking environmental policies and profits are not mutually exclusive, argues Ray Anderson, the founder and chairman of Interface, Inc. In fact, such policies can be good for business. In the decade since incorporating an environmental vision into its business plan, Interface, the world�s largest commercial carpet manufacturer, has reduced costs, increased sales and transformed its culture. Speaking to a full house recently at Emory University�s Goizueta Business School, Anderson told students, �The earth is finite. What we do to the web of life, we do to ourselves.�

Winners Never Cheat: Lessons for Today's Business Leaders

Wed, 13 Jul 2005 14:50:57 EST

In 1970, Jon M. Huntsman started a small entrepreneurial firm with his brother. By 2000, Huntsman Corp. had grown to become the largest privately held petrochemical and plastics business in the world. Today, Huntsman is a billionaire philanthropist who recently donated $225 million to establish the Huntsman Cancer Institute at the University of Utah. He has also contributed millions to help rebuild the country of Armenia, and supported organizations that feed the poor, house the homeless and protect victims of domestic violence. In his new book, Winners Never Cheat: Everyday Values We Learned as Children (But May Have Forgotten) (Wharton School Publishing), Huntsman offers a "moral compass" for business leaders and others to live by that is based on his own experiences.

Moral Reasoning: Watching The Brain Make Ethical Business Decisions

Wed, 01 Jun 2005 18:49:21 EST

How does moral reasoning �kick in� when a businessperson is in the midst of a dilemma? In a soon-to-be released paper titled The neural basis of moral sensitivity to issues of justice and care: an fMRI study, professors from Emory University�s Goizueta Business School and School of Medicine undertook cutting-edge research. Their aim: to better understanding how the brain processes critical thought on moral issues, and perhaps provide a window into the reasons for ethical lapses in the workplace.

Lucent and the Crash of the Telecom Industry

Wed, 12 Jan 2005 13:46:30 EST

Many have sought to make sense of the modern-day stock market crash. For Lisa Endlich, author and a former vice president and foreign exchange trader for Goldman Sachs, Lucent Technologies proved an ideal company to analyze. In Optical Illusions: Lucent and the Crash of Telecom, Endlich follows the company from its beginning as the AT&T equipment manufacturing spin-off, through its manic growth in the late 90s as the most widely held stock in the U.S., and charts the course of the tailspin that left the company a shell of its former self.

Going Once, Going Twice ... Glamour, Greed and Fraud at Sotheby's and Christie's

Wed, 06 Oct 2004 14:18:44 EST

Christopher Mason, author of The Art of the Steal: Inside the Sotheby's�Christie's Auction House Scandal, thinks billionaire Albert Taubman got a raw deal when he was sent to jail for price-fixing two years ago. But the book is more than a defense of the famed shopping center developer who became owner and chairman of Sotheby's in 1982. It is a detailed, gossipy account of the inner workings of the two firms known for auctioning the multi-million dollar paintings, diamonds, emeralds and other possessions of the rich and famous. While the art world is still buzzing about the August 22 theft of Edvard Munch's "The Scream" from Oslo's Munch Museum, The Art of the Steal talks about a different kind of theft, focusing on the background behind the auction houses' price-fixing conspiracy, who was involved and how it came to light.

"Legislating" an Ethical Culture: Principles versus Rules

Tue, 24 Mar 2009 10:58:35 EST

Have the new Sarbanes-Oxley regulations slowed entrepreneurship and innovation? How does a company create and maintain an ethical culture? Who is representing the shareholders? These and other questions lay at the heart of the issues that companies and boards are confronting as they implement new governance practices or revamp current procedures. An excerpt from the Goizueta Director�s Institute 2004 Summary of Proceedings provides a view of the broad concepts and conclusions discussed at the Institute.

Are Business Schools Addressing the Ethics Issue?

Wed, 11 Aug 2004 10:40:20 EST

Recently, in celebration of the inauguration of James Wagner as Emory University�s president, the Emory University Center for Ethics hosted a symposium entitled �Emerging Challenges for Ethics and Leadership in the Professions� that challenged representatives from university�s professional schools to speak about the ethical issues facing them. One of the panelists, Diana Robertson, professor of organization and management at Emory University�s Goizueta Business School, addressed how the post-Enron business climate has affected business schools.

Examining the Twists and Turns of the Internet Bubble

Wed, 14 Jul 2004 13:24:17 EST

Villains, schemers, and a manic widespread virus may not sound like the making of a business book, but mention Enron and WorldCom and the possibilities begin to unfold. Author and SmartMoney columnist Roger Lowenstein examines the stock market’s late century rise and subsequent slide in his new book Origins of the Crash: The Great Bubble and Its Undoing. Lowenstein’s well-researched tale is surprisingly revealing, providing insight on how culture impacts morality and behavior.

How Honest Tea�s Mix of Business with a Social Mission is Brewing up a Profitable Brand

Wed, 16 Jun 2004 14:37:18 EST

Combining entrepreneurship with social responsibility is not an oxymoron for Honest Tea co-founder Seth Goldman. In only five years, Honest Tea has become the leading brand of organic bottled tea beverages in the United States. During a recent visit to Emory University's Goizueta Business School, Goldman discussed his strategic mission and told his audience, “People say you can’t mix business with a social mission, and I say that’s wrong.”

The Dangers of Blindly Following a Leader

Wed, 02 Jun 2004 13:18:55 EST

In theory, leadership starts at the top and everyone in the organization should follow. But with the rash of corporate scandals, should employees blindly take orders? Speaking to students at Emory University’s Goizueta Business School, Gardner Courson, Tyco’s deputy general counsel for litigation and vice president, says followers do have a responsibility to speak up. "You have an absolute responsibility to yourself and others to disclose and deal with something that doesn’t feel quite right," he says. As for the recent scandals of extravagance, he adds, "Too often, no one knowledgeable at the old Tyco ever raised a flag."