Business Ethics

@ Copy Right Bernadette T. Vadurro 2011

Professional Speaker
President, Speakers Live, Inc

Seminars, Keynotes and Training for
America’s Workplace!

Bernadette’s Partial Client List
World Class Presentations CIA
American Express
Los Alamos National
Chrysler Corporation
American Eagle
Court Services
USPH- IHS
U.S. West
Farm Credit Council
Hispanic MBA
Columbia Hospital Corp
United States Customs
American Society for Training and
Development (ASTD)
American Subcontractors Association
@ Copy Right Bernadette T. Vadurro 2011 Bureau of Indian Affairs

Bernard L. Madoff
Investment Securities LLC


Marcus Tullius Cicero wrote
about Ethics in 106 BC

Roman Philosopher and Statesman

Ethics Guidelines for Professionals

A system of principles
governing morality and
acceptable conduct.

Illegal
Forbidden by law; unlawful; illicit
unauthorized or prohibited by a
code of official or accepted rules

Motivation


GRAY AREAS


Enron’s Values

• RESPECT
• INTEGRITY
• COMMUNICATION
• EXCELLENCE


Enron’s Values
• COMMUNICATION: We have an obligation to
communicate. Here, we take the time to talk with
one another…and to listen. We believe that
information is meant is to move and that information
moves people.
• EXCELLENCE: We are satisfied with nothing less
than the very best in everything we do. We will
continue to raise the bar for everyone. The great fun
here will be for all of us to discover just how good we
can really be. 1998

Enron’s Values
• RESPECT: We treat others as we would like to
be treated ourselves. We do not tolerate abusive or
disrespectful treatment. Ruthlessness, callousness,
and arrogance don’t belong here.
• INTEGRITY: We work with customers
and prospects openly, honestly, and
sincerely. When we say we will do something, we
will do it; when we say we cannot or will not do
something, then we won’t do it.


Values and Mission
Statements

Must become living
breathing, incarnations of
your culture

How Did We Get into this
Financial Pickle?

Lessons from Enron—How both
government and private sector
emulated the crooked E


Making DEALS was Enron’s
real mission

Collecting huge commissions and
showing quarterly Wall Street
profits was of the greatest value!

Six Enron Values
Make the deal, it doesn’t matter what
it costs or whether the deal makes
sense.
Fulfilling promises to customers
internally and externally never
matters.
Engage in delay, renegotiate. bait and
switch tactics, blame others and
“pass the buck accountability”.

Six Enron Values
Image is everything, substance matters
minimally, looking good on the outside is most
important.
There are no consequences for inappropriate
or illegal behaviors, Enron rewarded bravado.
Intimidate, ostracize or simply ignore anyone
who criticizes you. If they don’t agree with
you they are simply STUPID.


The Financial Melt Down


Lack of Oversight

Federal Reserve Regulators Asleep at the Wheel


SEC
Turned a Blind Eye

The Securities and Exchange has
five Commissioners who are
appointed by the President of
the United States.

SEC is suppose to rein in risky behavior by investment banks, failed to do so,
e.g. Lehman Brothers, Merrill Lynch, etc.

“…made a mistake in presuming that financial firms could
regulate themselves” ~ Alan Greenspan

Hedge Funds One of the Least
Regulated Industries

Bernie Madoff, a trusted financial advisor was convicted for
running one of the biggest Ponzi Scheme’s of our generation
through his Hedge Fund.

Financial Weapons of Mass
Destruction
Warren Buffett described derivatives as
"financial weapons of mass destruction"
in 2003.

Derivatives the new 'ticking bomb'
Buffett and Gross warn: $516 trillion
bubble is a disaster waiting to happen


Outsourcing American Jobs


Housing Bubble

American Household Debt
From 60% in 1982 to 130% in 2007


We are living in an EVER
Increasing Transparent World


ONCE POSTED –IT’S IRRETRIEVABLE
Information goes viral with the
“SHARE” Button


Thomas Waldrep, County Commissioner who served for 21 years, resigned
from his position after a YouTube Video was posted showing him using
racial slurs against kids from a local Boys and Girls club.

Taos Hotel Employees Protest Racism

Marcos—Mark
Juan—John
Rosa—Rose


Business Ethics Challenges
These business ethics situations occur
daily. Have you (or your employees)
ever…?


Business Ethics Challenge
1. Surf the Internet shopping for
personal items during working
hours because you are too tired
to do so by the time you get
home at night?


2.Told a supplier that the
"payment will be credited to
their bank account“ or the
“check is in the mail” when you
haven't submitted the
paperwork or written the check
for the payment?


3. Spend several hours a week on
phone during work hours,
talking to your children, their
childcare provider, your spouse,
your siblings, and your friends?


4. As a manager that procures a
product from a vendor, have you
accepted an offer from a company
representative to a fully paid
vacation without full disclosure to
your boss or BOD?


5. Driven away after accidently backing
up into another vehicle, leaving a
slight scrap and a tiny dent in the
door…because you are running late
to an appointment?


6. Decided to take office
supplies home to stock your
home office?


7. Endorsed a product or service
that you know is not quite up
to par because it is your best
friend who asked you to do so?



If you answered YES to more than
two questions; your “ethical
barometer” needs to be RESET!


How to Improve Ethics
• Train your managers and employees.
• Provide staff with appropriate ways to
communicate and respond when they
encounter “sticky situations.”
• Live YOUR values and make sure that
your business culture reflects integrity!


Thank YOU!
•Leave YOUR email
address and you will
receive a link to this
slide show.

Business Ethics

Recommended

Recommended

More Related Content

Viewers also liked

Viewers also liked (16)

Similar to Business Ethics

Similar to Business Ethics (20)

Recently uploaded

Recently uploaded (20)

Business Ethics