Consider your source and guide for ethic practices when formulating corporate policy!

Dr. Purushothaman
December 13, 2013

Determining what should be your business practices and how you set policies is something that we need be very careful of. We should approach our research and advice we follow with a little extra caution and with an objective eye.

As we look at what is happening in the global economy, we can only come to conclusion that something went wrong with government and corporate policies. Oh and let's not forget personal responsibility and some unwise decisions made at the kitchen tables - globally.

Here is what Carolyn Y. Woo, Dean of Notre Dame Mendoza College of Business in Indiana, USA, had to say:

"I believe that our current crisis is caused by a failure of values fueled by perverse incentives, which trumped sound judgment and overwhelmed regulatory enforcements,"... "Having noted the above, this is definitely an opportunity for business schools to do more to make ethical thinking part of the fabric of their curriculum."
- BBC News

As business schools commence their quest in investigating the failures of financial institutions, they have thus far discovered in a 2006 study about cheating among US graduates, published in the journal Academy of Management Learning & Education, that 56% of all MBA students cheated regularly - more than in any other discipline.

The study also suggested that business students are also more likely to find out about a test from a fellow student who had taken it.
Both Yale and Notre Dame business schools say they initiated change long before the current crisis unfolded, by incorporating ethics in the core as well as driving ethics discussion across the curricula.
- BBC News

Given the above study, isn't it interesting how we hold educated people in such high regard. We have no idea how they acquired their degree. We would hope that the degree is evidence of their hard work and determination to achieve their goal graduating with that degree. Now, I am not suggesting that all graduates that hold a collegiate degree gain that degree in an unethical manner. On the contrary, the majority of university graduates acquired their degree the old fashioned way - they earned it with hard work.

Let us therefore not only consider the advice of professionals, however, we are to use God's word as a filter that we may walk away with truth and understanding as we apply the wisdom we glean from seeking first the kingdom and His righteousness.

The historical and global importance of religious views on business ethics is sometimes underestimated in standard introductions to business ethics. Particularly in Asia and the Middle East, religious and cultural perspectives have a strong influence on the conduct of business and the creation of business values.

God's word is clear in letting us know the reward of good business practices and diligence. Proverbs states that a man that is diligent in business, shall stand before kings (cf. Prov 22:29).

It is very important that we aspire to be men and women of God that:

• Apply Godly principles in the way we do business - As a whole
• Exude integrity in marketing & advertising our products and services
• Care for our employees - promoting an atmosphere of fairness and respect in the workplace. This encourages loyalty
• When setting policies, we seek insight from God's word for wisdom & guidance
• Produce products and deliver our services with the quality we promised our customers

Should we keep these principle in play when we do business and carry out our objectives in the workplace, we will continually experience God's favor in ways we could not imagine.

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