Michael L. Hackworth, chair of the Advisory Board of the Markkula Center for Applied Ethics at Santa Clara University and member and chair of numerous corporate boards, talks with Lon Allen, chair of the National Association of Corporate Directors-Silicon Valley, on what boards can do to promote ethics in an organization.
Doing the right thing builds trust with customers, shareholders, partners, and vendors. High efficiency and productivity result from trust.
The board should ask itself about any decision: Does it optimize the bottom line, which is the duty to create value? Is it legal? Is it consistent with the contracts and obligations we have? Is it ethical?
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