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Mod%202%20Parts%20A%20%26%20B%20Ethics%20S11_w

Mod%202%20Parts%20A%20%26%20B%20Ethics%20S11_w - Module 2...

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Module 2: Organizational Ethics Part A:   Ethical Behavior in  Organizations
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2 It Pays to Be Ethical Ethical companies outperform unethical ones by 200-300 %  in market value (Business and Society Review) $30K invested in 30 ethical companies over 30 years would  yield 4.7x to the Dow Jones Industrials (Johnson & Johnson  Research Study) 40% of consumers would boycott an unethical company,  20% have done so (Conference Board) Workers in ethical companies are 6x more loyal (Hudson  Institute) Taken from The Integrity Advantage, Adrian Gostick, presentation at 2006 Annual SHRM Conference, Washington, DC
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3 Sarbanes-Oxley Act (SOX) 2002 Sec. 406 : Requires code of ethics:  honest and ethical  conduct, including the ethical handling of actual or  apparent conflicts of interest between personal and  professional relationships Sec. 806: Whistleblower protection of employees of  publicly traded companies:  employees may not be  discharged, demoted, suspended, threatened, harassed or  discriminated against in any way because they reported  suspected or confirmed violations.
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4 Formula for Disaster: Enron Enron scandal involved hundreds of accountants, finance professionals, bankers, and lawyers Enron had superior  Code of Ethics 20 Enron employees are in prison  because they didn’t speak up when  they saw a transaction that bothered  them   Source: Sherron Watkins, A Moment of Truth, March 30, 2007; GMU
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