Module 8 Articles

Question 1

4 Critical Features that need to be addressed when designing an Ethical Culture

Answer 1

• Explicit Values
• Thoughts during Judgement
• Incentives
• Cultural Norms

Question 2

Explicit Values

Answer 2

Strategies and practices should be

anchored to clearly stated principles that can be widely shared within the organization

Question 3

4 Problems with today’s Mission Statements

Answer 3

• Too long to remember
• Too obvious to need stating
• Too clearly tailored for regulators
• Too distant from day-to-day practices to meaningfully guide employees

Question 4

Thoughts during Judgement

Answer 4

Most people have less difficulty knowing what’s right or wrong than they do keeping ethical considerations top of mind when making decisions

Question 5

Incentives

Answer 5

People do what they’re incentivized to do, meaning that aligning rewards with ethical outcomes is an obvious solution to many ethical problems

Question 6

Along with earning an income, employees care about:

Answer 6

• Doing meaningful work
• Making a positive impact
• Being respected/appreciated for their efforts

Question 7

Prosocial bonus system

Answer 7

A system that provides employees with bonuses to give to charities and coworkers

Question 8

Descriptive Norms

Answer 8

How peers actually behave; Tend to exert the most social influence

Question 9

Blockchain

Answer 9

A series of blocks of information that record ordered transactions and data; Decentralized and distributed on a peer-to-peer network

Question 10

Big data enables A.I.

Answer 10

To engage in advanced analytics combined with cloud computing to create “smart” systems

Question 11

The Four Apocalyptic Riders of Value Statements

Answer 11

1. Too general
2. Not authentic
3. No emotional appeal
4. No link to behavior

Question 12

Five Steps to make Value Statements Work

Answer 12

1. Make values specific to company
2. Only authentic values are credible
3. Aim for the hearts
4. Link values to behavior
5. Leaders must relentlessly communicate and implement values

Question 13

The Bavarian Bank Sparda

Answer 13

Unlike most companies, they did not initiate their values management process with a top-down process but with a focus on the individual coworker

Question 14

Ritz-Carlton Service Values

Answer 14

Their 12 service values all start with “I” – which expresses personal responsibility. The values are all very action oriented and specific for the hospitality business

Question 15

Combination of a top-down and bottom-up approach

Answer 15

Helps to avoid the common pitfall of coming up with a list of unauthentic and unrealistic values that reflect the wishful thinking of top-management

Question 16

Nudges

Answer 16

One of the ways businesses are deploying behavioral ethics to reaffirm their values and to keep employees focused on questions of ethics and compliance as they engage in their daily work

Question 17

The trap when integrating behavioral ethics into training and culture-building initiatives

Answer 17

Focusing principally on their ethics and compliance programs

The goal must be to integrate ethical decision making into the company’s business

Question 18

Three changes to make Ethics training more effective

Answer 18

1. Compliance training is not enough; requires training to help employees learn how to voice their values with in-person
2. A focus on helping senior leaders consider how their own ethical leadership shapes the culture
3. The connection between ethics and greater sense of purpose in the workplace

Question 19

5 Ways to measure Ethical Behavior

Answer 19

• The number of transgressions
• Calls to the ethics helpline
• The follow-up steps taken
• Monitoring employee turnover
• Conducting exit interviews

Question 20

2 Ways to strengthen Ethics Training

Answer 20

1) Ethics training needs to move beyond rules and analysis and become more social and experiential
2) Tapping into individuals’ past experiences and providing social models that they can emulate

Question 21

The combination of ethics training and risk sensing through technology

Answer 21

Starting to provide organizations a new level of control in identifying risks much earlier in the process, before they become bigger issues down the line

Question 22

Ethics Code Basics (6)

Answer 22

• Simple, Concise, easily understood
• User Friendly
• State expected Behaviors
• Apply to all employees
• Written, reviewed and edited by a multidisciplinary team
• Updated to reflect business and regulatory changes

Question 23

No standard wording for a code of ethics

Answer 23

Each organization should develop a code to suit the needs of its personnel in defining expected behaviors and in addressing the risks, challenges, and customs in the countries in which it operates, as well as to fit their specific industry and regulatory environment