Ethics matter — now more than ever

Description

Abstract: Even in healthy economic times when companies are thriving, business ethics can easily fall by the wayside. A poor economy only increases pressure on employees of every rank to do “whatever it takes” — even if it’s fraudulent or illegal. A company wishing to avoid these pitfalls needs to lay out the ground rules in a written policy and be prepared to enforce them. It also needs to develop strong internal controls and look out for poor quality control and evidence of fraud. And, it should be aware of specific potential risks when cutting costs.