Tagged: ethical culture

Meeting the ESG Challenge

Perhaps I am little bit behind.  That would be nothing new – but we are getting to the point where we no longer need to spell out ESG.  Everyone knows what it means – directors, officers, employees, investors, shareholders and other stakeholders can spell it out.  ESG is firmly implanted in the corporate governance landscape.  Prosecutors and regulatory agencies are quickly adding ESG to their...

Episode 187 — Review of DOJ’s Settlement with Boeing for the 737 MAX Safety Scandal

Boeing’s long and tragic scandal surrounding its 737 MAX safety concerns and FAA disclosure violations has come to an end.  DOJ announced a settlement early this year, on January 7, 2021, which included a three-year deferred prosecution agreement (DPA) in exchange for total payments of $2.5 billion, consisting of: a $243.6 million criminal penalty, $1.77 billion in compensation to its airline customers, and $500 million to establish...

ECI’s Global Business Ethics Survey: The Plusses and Minuses (Part I of II)

The Ethics and Compliance Initiative is a terrific organization that provides important ethics and compliance insights and leadership.  Starting in 1994, ECI has conducted a longitudinal, cross-section study of workplace conduct.  ECI recently issued its sixteenth GBES results, which provide important benchmarks on the state of ethics and compliance programs in business.  ECI focuses on the connection between an organization’s ethical culture and workplace behaviors. ...

Boeing’s 737 MAX Scandal: A Fair Resolution? (Part III of III)

Boeing’s settlement with DOJ raises more questions than answers.  While I understand that a criminal case against Boeing requires DOJ to identify one or more individuals who have committed a crime that can be fairly attributed to the Boeing corporation.  The doctrine of respondeat superior is the mechanism by which this legal attribution occurs. Boeing has been praised for its remediation efforts and its end...

The “Person” of the Year: Goldman Sachs

Bear with me for a second, but remember Presidential Candidate Romney’s statement in 2011 that “Corporations are people.” Starting with that premise, my so-called “Person” of the Year award for 2020 goes to, drumroll . . . Goldman Sachs, for its defining ethical and compliance lapses, leading to the largest ever FCPA Settlement.  With tongue in cheek, the story of 2020 has to be the...

2020: A Year of Ethical Challenges

If ever there was a year that challenged corporate leaders on their commitment to business ethics, 2020 was the year.  The number of difficult issues facing corporate leaders were challenging and ran the gamut – from health and safety concerns, to business continuity, and to economic disruptions and lay-offs or reductions in force.  Even outside the organization, social concerns, supply chain management and community needs...

Episode 171 — Promoting an Ethical Culture: Interview of Jeffrey Tilton

The Justice Department and regulatory agencies have emphasized the importance of corporate culture and ethics.  As companies approach this important issue, it is important to examine a variety of strategies to ensure that a corporate culture adheres to ethical standards. Jeffrey Tilton, CFE, a leader in the compliance field, has an interesting perspective on this issue.  In this Episode, Michael Volkov discusses the issue of...

Webinar: The Importance of an Ethical Culture

Webinar: The Importance of an Ethical Culture November 10, 2020, 12 Noon EST Sign up HERE. Business leaders, politicians, shareholders, the public and other stakeholders are demanding that companies adhere to and implement measures to promote and advance an ethical culture. In the face of egregious corporate scandals and aggressive government enforcement programs, companies have to devote resources and attention to their corporate cultures. Government...

Lessons Learned from the Goldman Sachs FCPA Enforcement Settlement (Part III of III)

Goldman Sachs has a new leadership role – unfortunately, it is for corruption.  It would be a serious mistake to characterize or describe the Goldman corruption scheme as the result of a few, bad actors.  Instead, Goldman suffered this scandal because of a culture and a weak set of controls crafted to promote business with little regard for compliance. The lessons learned from this massive...