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Below are views of the world’s famous CEOs about ethics in business in an interview conducted by Robert Reiss of Forbes:
Robert Reiss: What phrase defines ethics and explain why?
Dan Amos: “Ethics is a mindset, not an option.” There is no alternative in today’s highly skeptical culture and when you do it right, consumers will respond in a positive way.
Tim Erblich: “Good Ethics is Good Business.” In fact, there is a growing body of data, including our own, that shows that the financial return of ethics (ROE) is significant.
Rodney Martin: Ethics is a reflection of our commitment to doing business the right way. We emphasize trust and transparency — and we reward our people based on not only what is achieved, but how it is achieved.
Reiss: What is the relationship between social corporate responsibility and ethics?
Martin: Corporate responsibility includes key aspects of a company culture, such as ethics and transparency; diversity, inclusion and equality; environmental sustainability; governance; and volunteerism and philanthropy. It has been invaluable in defining and building the character of the Voya brand. Corporate Responsibility, highlighted by the commitment of our people, demonstrate the authenticity of our culture — and help to deepen our relationships in our communities and with all of our stakeholder groups.
Erblich: Corporate Social Responsibility is a critical component of the overall ethics quotient. As is governance culture, transparency, risk management and employee, customers and community relations. At the same time, company culture, diversity, gender equity, philanthropy, keeping a healthy workplace environment are all traits of a socially responsible company. It is all combined to build trust.
Through direct observation as daily stakeholders of a company, we as the general public could weigh that it is better to be a customer on ethical firms than those who do not know our values. Thus, we, as stakeholders are the center of the business industry, their profitability and we can define their performance. Through the researchers’ claim it is very crucial for a business to have ethics.
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