Good ethics makes for good business practices.
“In today’s complex global economy, it can be increasingly challenging for companies to meet performance expectations, while addressing the varying regulatory, compliance and sustainability needs across geographies and cultures,” said Tim Erblich, CEO of the Ethisphere Institute.
His group recently released its finding on the “World’s Most Ethical Companies.” The ranking measures companies based on the group’s Ethics Quotient framework. Scores are generated in five key categories: ethics and compliance program (25%), reputation, leadership and innovation (20%), governance (10%), corporate citizenship and responsibility (25%), and culture of ethics (20%).
“Global economic and social challenges from anti-corruption to security and privacy are accelerating the need for companies and organizations to embrace ethics and governance as critical business imperatives,” Erblich added. “Failure to establish the highest ethical business standards and practices throughout an organization can result in unacceptable consequences that include both human impacts and operational risks.”
To view a slideshow on the U.S.-based manufacturing companies that made the 2014 list, seeIndustryWeek.